In these volatile economic times, sustainability is the key to success for any business. On October 24-25, 2024, the Third Venice Sustainable Fashion Forum will take center stage in Venice to address this critical issue. The conference will focus on how sustainable practices can mitigate the economic volatility in global supply chains, particularly in the fashion industry. Organized by The European House, this two-day symposium will tackle some of the most urgent sustainability challenges and explore the link between sustainability and economic performance.
For fashion businesses in Europe, adopting an ESG (Environmental, Social, and Governance) reporting tool will be essential to advancing sustainability while maintaining a competitive edge.
Fashion at a Crossroads: Sustainability vs. Market Volatility
Like many other industries, fashion must navigate economic uncertainty and declining consumer confidence. These concerns will be addressed directly at the Sustainable Fashion Forum, which will show how companies can foster creativity while minimizing the risks associated with economic instability. Special focus will be given to how small and medium-sized enterprises (SMEs) contribute to the fashion supply chain. As the backbone of the industry, SMEs are crucial to sustainability efforts and shaping a greener future.
Luxury vs. Fast Fashion: Two Paths, One Goal
This year’s forum is notable for its wide range of participants, from fast-fashion giants like Shein to luxury brands such as Prada and LVMH. This diversity highlights the universal need for sustainability, spanning from high-end fashion to more affordable, rapidly produced items.
While fast-fashion brands focus on supply chain efficiency and recycling initiatives, luxury brands emphasize durability and repairability. The forum will explore how these divergent approaches can coexist and drive meaningful progress towards sustainable fashion.
Sustainability Survey: Insights from the Data
A comprehensive study by The Extended European House analyzed over 2,900 fashion companies from Italy and across Europe, providing insights into the industry's path toward sustainability. The results of this survey, to be presented for the first time at the event, will reveal how close luxury brands are to meeting the European Union’s 2030 green goals.
This data shows a significant sustainability gap, which most corporations' initiatives are still working to close. However, this gap also presents opportunities for collaboration between manufacturers and brands, leading to positive changes in environmental performance and circular economy strategies.
A Call for Collaboration
The forum will emphasize the importance of collaboration within the fashion industry as it strives for a greener future. Key discussions will focus on environmental and economic challenges, with an emphasis on building closer ties across the supply chain—between large companies and SMEs, fast fashion and luxury brands, and industry players and policymakers. Such partnerships are essential for achieving transformational change and steering the fashion industry toward a sustainable future.
In these volatile economic times, sustainability is the key to success for any business. On October 24-25, 2024, the Third Venice Sustainable Fashion Forum will take center stage in Venice to address
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