unsold goods news and archive

Unsold goods: EU bans their destruction, imposing a new model on fashion

A practice long considered a necessary evil in industrial fashion will become illegal from July 19. The EU will prohibit large companies from destroying their unsold clothing, footwear and accessories, ending the annual incineration and landfilling of millions of new items. Enshrined in the Ecodesign for Sustainable Products Regulation (ESPR),...

From design, supply, distribution, marketing to retail: How AI is being used in the fashion industry

Attention fashion brands and retailers: how you can use Artificial Intelligence to make your business more intelligent and/or efficient “Artificial intelligence (AI) can make the fashion industry smarter,” said Matthew Drinkwater, head of the Fashion Innovation Agency at the London College of Fashion and specialist in new technologies and their...

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Fashion

Luxury brands are grappling with billions of euros of unsold inventory

The issue of excess inventory is commonly associated with fast fashion and ultra-fast fashion retailers due to their rapid production cycles and the need to constantly introduce new styles. However luxury companies are similarly struggling with substantial amounts of unsold stock, proving the situation is no longer exclusive to the lower end of...

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Fashion

Infographic: the extent of overproduction in the fashion industry

The fashion industry clearly has a problem with overproduction. In March, fast fashion powerhouse H&M reported to be sitting on a pile of no less than 4.3 billion US dollars worth of unsold inventory. A few months later, UK luxury label Burberry received backlash for reportedly destroying finished products worth 28.6 million pounds...

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Business|INTERVIEW

Elevated Layers: tackling excess stock with influencer marketing

Unsold inventory is a big issue for luxury fashion labels. While affordable and mid-range brands can make use of discounts and sales to try to get rid of excess stock, luxury brands avoid using this strategy out of fear of harming their image of exclusivity. British label Burberry has recently come under fire for burning millions of dollars...