After the signing of the G7 Fashion Pact, many are wondering whether the agreement will have any significant impact on the fashion industry. The fact that it was even signed shows a huge paradigm shift for those running global fashion brands. At one point in time, sustainability in fashion equated to a crunchy, niche pursuit; but it has now become a major pillar in luxury fashion.
The shift towards mainstream sustainability began around the time Stella McCartney launched her namesake label in 2001. At the time, McCartney was alone in preaching her sustainability practices, but after she acquired her company back from Kering in 2018, LVMH took a minority stake in her brand earlier this year. This move signals the importance of sustainability in a fashion brand's profit strategy. Fast fashion companies are even introducing their own versions of "green" brands.
Sustainable fashion's major shift to luxury occurred because of 1) France and its leadership position in both fashion and in curbing global climate change; and 2) the seriousness of climate change since McCartney launched her brand. In addition, as fast fashion began to take over the world, luxury brands reacted by moving slower. As a result, sustainability has become a creative source for many designers, which is seen in the number of newer brands like Noah, Alyx, and Marine Serre that adopt this philosophy.
To learn more, read the GQ article here.