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Boston Consulting et al.: Fashion companies that do not address sustainability issues will get squeezed

At the Copenhagen Fashion Summit the Boston Consulting Group and the Global Fashion Agenda published the new fancy “Pulse of the fashion industry” report. This report examines why and how fashion companies and the fashion industry in total have to address its environmental and social footprint until 2030 in order to “continue its growth trajectory” (sic). The main argument is that companies need to act on sustainability issues because otherwise their profitability is at risk.  

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“With resources becoming even scarcer, the industry will face rising costs from labor to materials and energy. Based on conservative projections, fashion brands’ profitability levels are at risk in the range of at least 3 percentage points if they don’t act determinedly, and soon. The facts show a clear need for acting differently. The good news is that by changing practices, the industry can both stop the negative impact and generate a high amount of value for society, while also protecting profitability.”