The just-concluded 36th World Fashion Convention hosted by IAF: International Apparel Federation has highlighted many vital aspects of the fashion industry.
The convention brought together many important players and held meetings to find a way forward in the overall supply chain.
From 7 to 9 November 2021, the world of apparel and textiles met in Antwerp, Belgium. From Bangladesh, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) leaders including Faruque Hassan, Abdullah Hil Rakib, Miran Ali and Shams Mahmud, Managing Director of Shasha Denims Ltd. attended the convention.
Faruque Hassan said, “Bangladesh’s RMG industry is striding impressively, especially in the areas of workplace safety, environmental sustainability, and workers’ wellbeing.”
BGMEA Vice President Miran Ali, the keynote speaker, said, “RMG sector has practiced responsible purchasing procedure.”
The BGMEA President also took part in the board meeting and the general assembly of IAF members.
BGMEA has been a member of the IAF since 2013.
The BGMEA President invited the participants to the next IAF Fashion Convention, which will be held in Dhaka in November 2022.
In the 36th World Fashion Convention, reinforcing collaboration and partnerships to truly work in collaboration across the vertical supply chain has been discussed greatly. Side by side, speakers stressed the risk and upside need to be shared between brands, manufacturers and suppliers of raw materials – to tackle the challenges that the fashion industry is facing together.
Ensuring traceability is in the whole supply chain to ensure sustainability and ethical production was top of the agenda in the IAF convention.
McKinseys’ Chief Product Officer, Saskia Hedrich survey enlightened that 50% of CPOs started a major transformation since the pandemic has begun.
Hedrich said in her LinkedIn post, “Supply chain disruptions and demand volatility are here to stay and put pressure on margins. Brands and retailers are forced to fundamentally shift toward an apparel sourcing model that is consumer-centric, resilient, and sustainable. We’ve surveyed international chief purchasing officers to assess the industry’s progress on the transition.”
There is a move towards smaller collections: 53% plan to reduce the number of options by 2025 and 29% plan to increase full-price sales by 10%, she added.
Matteo Magnani, Senior Analyst Make Fashion Circular, the Ellen MacArthur Foundation shared a flabbergasting presentation brief of some crucial stats that the Ellen MacArthur Foundation has collated.
Less than 1% of the material used to produce clothing is recycled into new clothing and a whopping 73% are eventually landfilled or incinerated.