Masters of Scale Rapid Response: Why the fashion industry needs a makeover, with Imran Amed
Jul 2, 2024
Imran Amed, founder of The Business of Fashion, shares his expert insights on the fashion industry's current turmoil. He discusses the challenge big luxury brands face against ultra-fast competitors like Shein and the growing importance of sustainability. Amed also examines Pharrell Williams' innovative leadership at Louis Vuitton and the critical need for the industry to balance creativity with business metrics. He emphasizes the necessity for adaptability in navigating disruptions and calls for a shift toward more sustainable practices.
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Fashion as a Reflection of Society
- Fashion reflects the world and current events.
- Examining attire in historical photos offers insights into past eras.
Haute Couture's Exclusivity
- Haute Couture shows are exclusive events for the wealthiest clients.
- These custom-made garments, crafted by specialized artisans, represent the peak of Western fashion.
Corporatization Stifles Creativity
- The fashion industry's corporatized approach hinders young designers.
- This is due to struggling department stores and the crisis in online luxury e-commerce.