Fast fashion companies are sometimes criticized as environmentally unfriendly.
Intuitively, this seems right.
But exactly how?
It seems that the production process (incl. dyeing and finishing) is not very environmental friendly, with energy & water consumption in question.
E.g. – “Most of these impacts are a direct result of apparel’s reliance on hard coal and natural gas to generate electricity and heat in key processing locations. Asian countries such as China, India and Bangladesh not only comprise the largest manufacturers, but also have heavily coal-based energy mixes.”
And there is microplastic issue.
When people throw away more clothes at a faster rate.. not looking nice.
Sustainable and circular textiles sounds good.
Maybe this would become an issue for companies like Shein, Revolve etc.
Shein is about to IPO, with sales of about $45bn in 2023.
What about using some of the proceeds to be more sustainable? Don’t just go for GMV growth.