Facts and Numbers:
The problem of unsold clothes is vividly demonstrated by H&M. At the beginning of the year, the fashion giant reported sitting on a huge pile of unsold clothes – 4.3billion worth of inventory, so much so that it was enough to power a plant in a Swedish town by burning its defective products to generate energy.
Retailers like Urban Outfitters have reportedly destroyed unsold inventory by intentionally damaging the products, ‘so that no one gets it for free.’
An article published by the New York Times addressing H&M 4.3b overproduction issue.
1. 150 billion garments are produced by the fashion industry each year (that’s equivalent to 20 items per year)
2. 30% of clothes being produced were never sold.
3. Total volume of this is worth about 1.7 trillion, about 12% of it is inventory distortion.
4. Over 50% of fast fashion produced is disposed in under a year.
5. 26 billion pounds of clothing is sent to landfills annually.
6. Fashion industry creates 92 million tons of textile waste – 12.3kg per capita across the planet.
7. 1.2 billion tonnes annually – is the total greenhouse gas emissions from textiles production. This is more than of all international flights and maritime shipping combined.
8. By 2030, fashion brands would see a profit reduction of $52 billion across the industry because of scarce resources, higher lobar cost and overproduction.
Why should you care?
A Distressing Impact on Global Warming.
The Fashion industry is the second largest polluter in the world.
The fashion industry has a disastrous impact on the environment. In fact, it is the second largest polluter in the world, just after the oil industry. And the environmental damage is increasing as the industry grows.
However, there are solutions and alternatives to mitigate these problems. The first step lies in building awareness and willingness to change.
FASHION & GREENHOUSE GAS EMISSIONS
The global fashion industry is generating 1.2 billion tons of greenhouse gases due to the energy used during its production, manufacturing, and transportation of the millions garments purchased each year.
Synthetic fibres (polyester, acrylic, nylon, etc.), used in the majority of our clothes, are made from fossil fuel, making production much more energy-intensive than with natural fibres.
Most of our clothes are produced in China, Bangladesh, or India, countries essentially powered by coal. This is the dirtiest type of energy in terms of carbon emissions.
With the issue of all unsold clothing, it creates redundancy and even more wastage, with only 15% of dumped textiles actually went into recycling, taking up landfills after landfills, further polluting our planet.
How do we help?
Our crowdfunding method has enabled brands, established and new, to experience Just-in-time production by only making stocks based on the quantity demanded.
Not only does it propel more creativity in the industry and minimising capital requirements for designers to kickstart their own brand, it also eliminates problems such as overproduction, therein playing a part in reducing potential waste and pollution.
Our sourcing team has been actively looking out for sustainable material, therefore encouraging our in-house and vendor brands to incorporate more fabrics that are environmental friendly into their designs. Doing this, even on a small scale will still eventually help reduces toxic gasses and microfibres pollutants.
(Stay tuned to our next report in the coming weeks to find out more about the ugly truth behind the most colourful industry)
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