5 Reasons why Transparency is the FutureFeb 13, 2019
1. Never again
Nobody wants another tragedy like Rana Plaza in Bangladesh to happen. On April 24th 2013, the eight-storey building collapse caused the death of over 1,100 people, giving the world, and the fashion industry in particular, a very rude awakening. “…Global apparel and footwear companies or brands that order products manufactured in factories also have a responsibility to ensure that the rights of workers are respected throughout their supply chain.” writes Aruna Kashyap, Senior Counsel for Women's Rights.
Transparency is the only way forward.
2. Trust Millennials
Nowadays, Millennials and Gen K are more and more aware, connected, and demanding. They want brands they can trust, that stand up for something they believe in, and that have and impact on making the world a better place.
Brands with transparent supply chains are the new winners in the fashion market.
3. Know and show
Stella McCartney decided to lead the way with her mission to operate a modern and responsible business: “We are agents of change. We challenge and push boundaries to make luxurious products in a way that is fit for the world we live in today and the future: beautiful and sustainable. No compromises.”
Her initiatives inspired millions of brands globally, but, as Debbie Coulter (Head of Programmes at The Ethical Trading Initiative) reminds, we are still at the very first steps of the process, and we need to keep working in this direction to achieve full transparency.
4. “It takes years to earn trust but only an instant to lose it”.
According to McKinsey’s The State of Fashion 2019 report, fashion is facing a huge change in its most opaque side. Transparency into and full visibility over the supply chain will be a must-have for all the companies who are willing to gain respect and be successful. If you are a brand and you haven’t taken action towards transparency yet, please spend some time to think about how fast you can lose credibility, hence money.
5. Transparency = Freedom = Trust
Being transparent means having the freedom, and pride, to show what you have done so far, what you are doing right now, and what you are going to do in the future. And the result is trust, from creation to delivery.
What are you waiting for?