EP.23/ WHAT THE SHEIN STATS SAY ABOUT FAST FASHION
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Join me tomorrow at the Reseller Series - April 20th at 5:30pm pst to talk about the business of cyclical fashion
SHEIN is the worst contributor to fast fashion, trumping their other fast fashion rivals in mass by launching over 9000 new products every day producing over *30 B-BILLION dollars a year in disposable clothes. With all this said, doesn't it make you think - how is this possible? And what do these statistics say about fast fashion and the way we're moving as an industry? What's going on and how is this even legal? Well, let's dive in and find out.
Stats mentioned:
The company is valued at *30 BILLION (compared to H&M:12.4 billion, Zara: 13.2 billion).
*CORRECTION: 100 Billion now (read here)
They launch 9000+ new products every day.
At any time it has as many as 600,000 products in its store.
They're mostly known for their disposable-in-nature social media fashion hauls.
Their products range from $5-$25 dollars apiece.
There is only one way a brand can make these kinds of profits with these low prices - exploiting human lives and the planet.
WHAT THESE STATS SAY ABOUT FAST FASHION:
Fast fashion operates on the foundation of exploiting workers and nature.
Exploiting workers: this includes contracting garment manufacturers/factories where forced labour, child labour and basically slave-like working conditions are the norm. These people are not getting paid what they're working for.
Exploiting the planet: this includes using primarily unsafe and fossil-based materials like polyester, elastane, and spandex and producing them in mass. The environmental effects of producing these materials (along with mass producing any other material; including natural ones) are astronomical.
To give you an idea of scale; the fashion industry accounts for 20% of global wastewater and around 90% of fast fashion brands directly contribute to water pollution. By disposing of untreated factory waste into streams and rivers, many brands prioritize profits over clean water for those who make their clothes. The run-off of chemicals, dyes and other waste directly contaminate local communities' water supplies and ecosystems, leading to severe health concerns/death and food shortages caused by biodiversity loss/degradation.
What this also says about fast fashion and the industry, in general, is there is zero regulation or legal accountability for regulating mass production and the severe negative human and planetary impact brands have.
THIS NEEDS TO CHANGE.
LEGISLATIVE MOVEMENTS TO IMPROVE FASHION:
The EU Textile Strategy:
"This strategy will help the EU shift to a climate-neutral, circular economy where products are designed to be more durable, reusable, repairable, recyclable and energy-efficient. It aims to ensure that the textile industry recovers from the COVID-19 crisis in a sustainable way by:
• Making it more competitive
• Applying circular economy principles to production, products, consumption, waste management and secondary raw materials
• Directing investment, research and innovation.”
Will the EU Textile Strategy affect the mass level of production and sales that SHEIN is bringing to the market? Will this force SHEIN to reduce production or will they simply take their business elsewhere?
New York Fashion Act:
“The Fashion Act S.7428 (Biaggi) / A.8352 (Kelles) is a groundbreaking piece of legislation that will shift the industry away from this race to the bottom by requiring mandatory social and environmental due diligence. The Fashion Act aims to address accountability in fashion, by requiring brands to disclose their greenhouse gas emissions, as well as their energy, water, material and plastic usage and chemical management; to set and achieve Science Based Targets (which are in line with the Paris Agreement’s aim to keep global warming to 1.5C), and implement mandatory due diligence across its supply chain (including reporting on wages).”
What about the New York Fashion Act? If this is passed, will this impact SHEIN's production and consumption in the US? What do you think? Comment your thoughts on Instagram and let's continue the conversation.
I don't want to ruin your relationship with fashion. As I've always said; fashion is a gateway to expression and a truly marvellous thing - but when it comes at the cost of others' lives and the planet, it needs to be seen in a different light. And I hope these stats and episode ignites a feeling of change and invites you to think further about your consumption.
RESOURCES:
SHEIN: By November 2021, Shein grew from a company valued at $15 billion to one valued at **$30 billion. During the pandemic of 2020, it reportedly made $10 billion in revenue, making it the seventh straight year of more than 100% sales growth for the company.
**CORRECTION: 100 Billion now (read here)
H&M: In 2021, the H&M brand was valued at approximately 12.4 billion U.S. dollars. In comparison, the brand's valuation was around 19.2 billion U.S. dollars in 2017.
ZARA: In 2021, the Zara brand was valued at approximately 13.2 billion U.S. dollars. In comparison, the brand's valuation was around 18.4 billion U.S. dollars in 2019.
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"The fast fashion industry accounts for 20% of global wastewater (The UN). By cheaply disposing of untreated factory waste into streams and rivers (Sustain Your Style), many brands prioritize profits over clean water. The run-off of chemicals, dyes and other waste is directly contaminating local communities' water supplies and ecosystems."
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