THE FASHION INDUSTRY IS GOING THROUGH AN IDENTITY CRISIS
The fashion industry is just starting to recover. But the upswing could be short-lived, as inflation is forcing consumers to rethink and reduce their expenses. And mid-range brands could be the first to suffer. Inversely, the luxury goods and low-cost sectors are slated to come out on top in 2022.
Propelled by social media, the ultra fast-fashion trend has exploded. This “disposable” fashion offers collections at ultra-small prices that can be renewed in record time . . . for an ecological and social footprint that’s heavier than ever.
However, a more qualitative fashion is also emerging. Eco-responsible Quebec brands, often launched online, are winning over consumers. While this new local trend is undeniable, it is also very niche: 95% of clothing purchased by Canadians comes from abroad.
Different brands, different approaches
Sources: Elle.fr, Fast fashion: Shein responsable de 22% des émissions de CO2 des adolescentes, May 2022, France data / websites of various brands