Executive Summary
Measuring the State of Circularity in the UK Fashion Industry
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Introduction
Part 2
Part 3
Conclusion
Part 1
The findings of this research reveal three key themes within today’s fashion circularity landscape that reflect the position many UK organisations find themselves in. These themes are apparent across the four areas of business impact, relate to the various CBMs and can be addressed with the recommended actions at the end of this report. Three key principles: Today’s trends in UK circular fashion
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Intention vs reality Despite an intention to implement and scale circular business practices, brands are struggling to translate their aspirations into tangible roadmaps; 0% of brands with a customer-facing CBM state they have the confidence or plans to scale. CBMs are of varying maturity, and organisations lack confidence in their organisation’s overall plans, and ability to scale.
One size doesn’t fit all The attractiveness and feasibility of each CBM varies by value segment. In particular, organisations are hesitant to participate in initiatives that customers might perceive as irrelevant or inauthentic to the brand. However, brands are open to measures and targets that support choice, flexibility and are relevant to organisations at different stages of their journey; 82% of respondents have already implemented at least one circular initiative. Interventions and standards can provide scope for this flexibility and support further innovation.
No silver bullets Despite varying levels of CBM success and adoption, the blockers to scaling different models are consistent and comprehensive. The biggest barriers are having a limited financial margin (c.50% of respondents) and customer communication (c.40% of respondents). The crux of the challenge will be in balancing profits with purpose, making circularity a viable business route for retailers and fostering sustainable growth in the ever-evolving industry.
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