Since its inception, SFO Fashion Summit has established itself as the world’s leading business event on sustainability in fashion. Convening major fashion industry decision makers, the multi-stakeholder event – regularly referred to as the Davos of the fashion industry – has become the nexus for agenda-setting discussions on the most critical environmental, social and ethical issues facing our industry and planet.
Fashion Summit will see the launch of a new, revamped format. As a result the Summit will now last two days, allowing more time to explore new elements of the Summit, gain knowledge, share experiences and discover innovative solutions.
The complexity of sustainability has had fashion executives around the world call for guidance. The CEO Agenda is a response to this request. It is a guide to what every CEO in fashion needs to prioritise to future-proof their company – because sustainability is no longer just a trend, it is a business imperative.
THE CASE FOR CHANGE
The fashion industry employs 60 million people worldwide and generates EUR 1.5 trillion in global revenue (apparel and footwear), but that value is at risk if no action is taken.
In fact, projections from thePulse of the Fashion Industryreport show that fashion brands will see a decline in EBIT margins of more than three percentage points if they continue business-as-usual.
They will not only curb their prospects for future growth and profitability but also miss out on an opportunity for new customer engagement and business innovation.
A year ago, The Boston Consulting Group, published the Pulse of the Fashion Industry report. One of its main findings was that even though most fashion industry executives acknowledged the importance of sustainability, half of the industry had not yet taken any action and was hesitant about doing so. As a result, we started reaching out to the industry in the ensuing months to find out why. What we heard most frequently was some variety of “We acknowledge the need to take action, but we are awed by the magnitude and the complexity of the challenge.” In other words, there was an evident request for guidance due to the magnitude and complexity of the challenge – and a request for a joint industry focus.
WHAT'S ON THE AGENDA?
TheCEO Agendaprovides a guideline on what to prioritise to become more sustainable by spelling out seven priorities that should be top of mind for any CEO in fashion right now.