Sustainability is perhaps the most used word in the Fashion value chain these days, but how many people really understand what the concept stands for. Is there any standardisation on the concept? Sadly the answer is no. We all know today’s consumer is more conscious and more demanding for sustainable fashion, so the importance. But the big question is - how to achieve sustainability? Is it a cost, and if yes, who bears the cost of sustainability? Some people have the view that sustainability leads to increase in Capex in the short run but can lead to a reducing Opex in the long run. But in reality, the Capex for achieving a sustainable business can be so high that the returns are difficult to measure and sometimes even unrecoverable.
Every brand has its own requirement in terms of sustainability and each of them are pressing for sustainability through various types of certifications. Garment makers view these certifications as increased cost to their businesses, impacting their business sustainability. And, only a few brands contribute to this cause.
It also cannot be denied that only in some markets, the consumers are willing to pay more for sustainable products. With more awareness and branding, the cost can be passed to the consumer. Or should it not?
All these important issues related to Sustainability will be discussed in this panel and panellists will give examples about how the company or companies that they know have learnt the art of how to ‘sustain business with Sustainability’.