Fashioning the Future: Insights from the Transformation Conference 2023
Sustainability, Innovation, and Shaping Gen Z's Fashion Landscape in Scandinavia.
Hello Friends, and happy Monday! I hope you're all set for a fun week ahead.
This week, I want to share with you my insights and spotlight some key moments from the Transformation Conference 2023, which was hosted a couple of weeks ago by our fellow industry colleagues at Scandinavian MIND.
The event was held at Snickeriet in Nacka Strand, Sweden, and it was a remarkable gathering dedicated to exploring cutting-edge advancements in the fashion industry. The Transformation Conference is a dual event scheduled for 2023 in both Stockholm and Helsinki, with a mission to foster innovation by facilitating the exchange of knowledge and networking opportunities among technology companies, fashion brands, and investors.
I had the privilege of attending this event, where industry leaders and forward-thinkers converged to discuss a wide array of topics, including Fashion, Design, Materials, Technology, Traceability, Recycling, Retail, and Consumer Mindset, all with a strong focus on sustainability.
Here's a glimpse of the event schedule:
09:35-Introduction of Nordic Fabric Fair
Speaker: Helena Waker, CEO, Stockholm Fashion District
09:40- Keynote: A look at the EU textile strategy
A fresh update on the latest developments of the new EU directives and what they mean for fashion brands.
Speaker: Mauro Scalia, Director of Sustainable Businesses at European Apparel and Textile Federation.
10:10-Panel: The need for collaboration in fashion transformation
There are a lot of challenges facing the fashion industry, from recycling to transparency to communication. This panel discusses the challenges from a macro perspective and how to solve them.
Speakers: Marika Ollaranta, Head of Decarbonizing Industries, Business Finland Mauro Scalia, Director Sustainable Businesses at EURATEX - European Apparel and Textile Federation, Fredrik Timour, CEO, Fashion Innovation Center
10:40 -Keynote: Digital Product Passport – enabling the circular economy
Following new regulations from the European Union, Digital Product Passports (DPP) are set to become a crucial tool to enable and track circularity in the fashion industry. In this keynote, we will get an overview of the challenges and opportunities when implementing DPPs in the fashion industry.
Speaker: David Almroth, Head of Expansion, GS1 Sweden
10:55 - Panel: Textile recycling at scale
Today, we only recycle about 1% of all textiles, but by 2025 textile recycling will be mandatory for all EU countries. In this panel, we hear from some of the innovation companies leading the way for large-scale textile recycling in the Nordics.
Speakers: Angeline Elfström, Business Development Manager, Oncemore Outi Luukko, CEO, Rester, Olli Kähkönen, founder, Nordic Bioproducts Group
11:30- Keynote: What are investors looking for?
In order to implement new technologies and practices in the fashion ecosystem, capital is needed. We hear from leading investors about what they are looking for when investing in the fashion and lifestyle space. Speakers: Erik Karlsson, H&M Jessica Rameau, Partner, Wall street
12:00- Panel: How to implement sustainability – fashion brands testify
Speakers: Sandra Roos, Vice President of Sustainability, Kappahl. Jessica Cederberg Wodmar, EVP Global Sustainability & CSR, GANT.
12:30- Keynote: Navigating the Impact of Gen-Z Sustainable Consumers
An important challenge for anyone who wants to drive consumption in a more sustainable direction is how to spread their ideas and initiatives while still being relevant and attractive to the consumer. A snapshot from The NXT Sustainable Consumer Report 2023.
Speaker: Fredrik Ekström, Founder, Above The Clouds
12:50- Closing words: Thanks for participating in the Transformation Conference
Speaker: Konrad Olsson, Founder & Editor-in-Chief, Scandinavian MIND
Insights:
Inherent Sustainability Focus: The fashion industry in Scandinavia appears to have a natural inclination toward sustainability. Early-stage founders in the region often integrate sustainability into their core values, recognizing it as a fundamental aspect of their business models.
Investor Support: Investors like Wall Street are actively supporting early-stage fashion companies in Scandinavia. This support extends beyond financial investment and includes guidance on implementing sustainable practices from the outset.
EU Regulations: The European Union is actively pushing for higher environmental and social standards in various industries, including fashion. While these regulations may present challenges, they also create opportunities for Scandinavian fashion brands to lead
in compliance and innovation.
Future Directions:
Circular Fashion Economy: Scandinavian fashion companies can continue to lead in the development of circular fashion models. This involves designing products for longevity, promoting repair and recycling, and exploring rental and resale options.
Transparency and Traceability: Embrace transparency in the supply chain. Leveraging blockchain technology or other traceability solutions can provide consumers with information about the journey of their clothing, from raw materials to production and distribution.
Collaboration and Knowledge Sharing: Encourage collaboration between fashion brands, tech companies, and investors. Host events and forums dedicated to knowledge-sharing, sustainability practices, and innovations in the fashion industry.
Sustainable Materials Innovation: Invest in research and development of sustainable materials. Focus on creating textiles and fabrics that are eco-friendly, durable, and aesthetically pleasing.
Consumer Education: Educate consumers about the importance of sustainable fashion choices. Brands can play a significant role in raising awareness and guiding consumers toward more eco-conscious decisions.
Embrace Digital Technologies: Digital Product Passport (DPP), a transformative force in the fashion realm. It serves as a digital ledger for EU products, meticulously documenting their entire lifecycle. Leverage digital technologies such as virtual reality (VR) and augmented reality (AR) for virtual try-ons and immersive shopping experiences. These technologies can enhance online shopping and reduce the need for physical inventory.
Local Sourcing: Promote local sourcing of materials and manufacturing to reduce the carbon footprint associated with long-distance transportation.
Ethical and Inclusive Practices: Continue to champion ethical labor practices and diversity and inclusion within the fashion industry. Ensure fair wages, safe working conditions, and opportunities for underrepresented groups.
Government and Industry Collaboration: Collaborate with governments to ensure alignment with evolving regulations. Engage in dialogue with policymakers to contribute to the development of sustainable industry standards.
Data-Driven Decision Making: Utilize data analytics to gain insights into consumer preferences and trends. This can help tailor products and marketing strategies to meet changing demands.
Consumer Behavior of Informed Gen Z Consumers: A significant highlight of the conference was the discussion on the evolving consumer behavior of informed Gen Z consumers. These young consumers are leading the charge in demanding sustainability in fashion, valuing thrift shopping, clothes swapping, and placing a premium on the value and story behind each piece. Their conscientious approach to fashion is reshaping the industry, pushing brands to adopt more responsible practices.
Anticipating Gen Alpha's Approach: Looking forward, it's essential to consider the coming generation, Gen Alpha, and how they might approach fashion shopping. Gen Alpha is growing up in a world where sustainability is not just a trend but an expectation. They are likely to be even more digitally connected, tech-savvy, and environmentally conscious. Brands will need to be agile and adaptable to cater to their unique preferences and values.
By prioritizing sustainability, transparency, and innovation, the fashion industry in Scandinavia can meet evolving regulatory requirements and set a global example for responsible and forward-thinking fashion practices.
The event showcased the vibrant dialogue and concerted efforts within the fashion industry in Scandinavia to embrace sustainability, innovation, and collaboration. It's heartening to see such commitment and enthusiasm for creating a more sustainable and responsible future in fashion, I wish you all an inspiring week ahead!
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