Dana Thomas: «Sustainability is the only way forward for the fashion industry»
Grassroots movements will revolutionize the fast fashion industry, bestselling author Dana Thomas is sure. Thomas talks about business models beyond growth and innovative start-ups here in a podcast and at the 70th International Retail Summit on 10 and 11 September 2020.
Fashion is cheaper than ever before. 80 billion new garments are produced worldwide every year, 20 billion of which are not sold.
"The fashion business model was designed for infinite growth, but that no longer works," says Dana Thomas, New York Times and Vogue editor and bestselling author (including "Fashionopolis: The Price of Fast Fashion and the Future of Clothes"). "Sustainability is the only way out," says the US American. "We are being swamped by clothing and we need to find out how to stop wasting it," says Thomas in a podcast, which also mentions alternatives to buying clothes:
The luxury industry with its billion-dollar profits is hypocritical: "I don't know how you can define your clothes as 'luxury', i.e. as something special, and at the same time produce goods worth ten billion dollars every year."
Dana Thomas knows the dark side of the fashion industry. And yet she sees the light at the end of the tunnel: "Grassroots movements that rely on high tech will revolutionize the fast fashion industry."