Here are some interesting numbers to ponder about Zara the largest clothing manufacturer in the world based out of Spain.
It opened in 1963 under the name Zorba was later changed to Zara due to a conflict with a bar in the same town with the same name.
They produce 840 million garments per year.
They have 22 stores in Canada, 46 in the US and 350 in China with more Asian expansion underway.
Sales of 15.9 billion euros.
Profits of 2.4 billion euros.
It takes a mere 3 weeks from inception of a garment to having it produced and in stores. 3 WEEKS!
They do not advertise in the traditional way since their products have such a short shelf life any ads they would run would irrelevant by the time the magazine or article is published.
Unsustainable? – you bet
Profitable? - absolutely
How do you turn around a speeding fashion consumption train like this? People aren't going to simply walk away from fast fashion. People didn't walk away from fast food or fast technology.
Sure I shop in thrift stores and consignment stores but I also shop in regular stores and sometimes that is H&M, Forever 21 or Zara. Even Anthropologie one of my favourite stores has to promote consumption otherwise their profits would falter.
What will it take to make the fashion market crash?