Summary: The modern-day textile industry has become a clubhouse of potential. To add to this, we must reinforce the already strong foundation of the traditional textile industry. We can do this by using data-driven processes to tap into this potential. These processes must be led by those who are taught how to navigate today's supply chain management processes.
The global apparel market is expected to grow to $768.26 billion in 2026 at a CAGR of 6.1%. That's despite looming political tensions and changing consumer trends. But even with global economic sanctions, surges in prices, and supply chain management issues, there's a glimmer of hope in the form of the new generation of business leaders pursuing new-aged business management degrees.
“Sustainability is about ecology, economy, and equity.” - Architect Ralph Bickenese
A major buzzword in the business world in the past decade is 'sustainability'. It's only natural that the modern-day business leader would address sustainability in all its aspects.
That includes endorsing practices that are economically sustainable as that is the very foundation of any business or industry. That would change in stride with the evolving conditions of the world economy, the availability of resources as well as funding for the same, and changing consumer demands. There are also many hidden costs to consider, such as fluctuating fuel and energy costs, and more.
Sustainability also means being ecologically conscientious, which would mean taking a magnifying glass to the various processes in the garment industry.
Let's also include being equitable to all involved including those of different ethnicities and cultures that drive the global garments industry. That would include farmers of textile crops, laborers who pick the crops, those who craft the fabrics and dye them, the craftspeople who create the garments, those who transport it across borders, and many more who are essentially the driving force behind the industry. According to Fashion United, the industry has a labor force of 3,384.1 million.
It's exactly due to all the factors mentioned above many are turning to get their MBA in fashion management—with a focus on sustainable fashion management. Not only would this power their businesses forward, but it may also soon become an essential component of running a successful apparel business.
An MBA in fashion management would allow students insights into how to lead and manage all these different factors. It would help them learn how to analyze trends, such as the estimated increase or decrease of different variables. For example, factory workers are paid more in certain countries and have strong worker unions backing them.
It would also help individuals take their brands in the right direction even during tumultuous times. For example, brands were under undue stress during the controversy surrounding data privacy and third-party cookies. But only a select few understood the advantages of quickly switching to new ways of collecting data.
Speaking of data, having the utmost confidence in technology-driven processes is also a bonus of pursuing a business management degree. Students would be well-versed in the language needed to expertly handle the newest technologies and tools. It would be easier to upskill and intelligently spend money on various processes.
It's a bonus that an MBA in fashion management would create a forward-thinking leader who can multi-task swiftly but empathetically and with sensitivity. That's the type of leadership required to navigate stormy waters and lay down impactful layers upon the rock-solid foundations our business forefathers have built.
To achieve all this, it's important to focus on MBAs that teach the new ways of being sustainable—which is holistic—in the fashion industry.
Professionals with a formal management degree focused on sustainability can help brands meet their sustainability goals. That could mean different things to different brands.
For example, certain brands may have the best of intentions at heart but may be accused of greenwashing. In such a case, consumers, regulators, and other stakeholders would scrutinize the way you communicate your sustainability objectives and how dependable you are at keeping track of them.
Another important point would be diversity and inclusivity in human resource practices. One study cites that certain ethnic or racial minorities may reach majority status in the workforce by 2044. DEI policies also include women, differently abled individuals, and LGBTQ people who today must be a part of C-suite roles to fulfill HR objectives.
Such people would also possess a unique perspective on buyer groups pertinent to them. That's why a business management degree focussed on sustainability the way we are would do wonders to retain top talent and be a futuristic organization.
If you're a new graduate looking for a job or someone interested in taking the world of fashion by storm, partner with us. We understand that sustainability is the need of the hour in the fashion industry. We're a diverse group with a shared love for technology and fashion. The soul behind Fashinza is the desire to solve existing supply chain challenges and create more efficient, flexible, and ethical processes.
We do that by using data-driven processes that increase transparency and motivate different stakeholders in the fashion industry to take sustainability seriously. We've partnered with several garment manufacturers across ASEAN countries and closely work with them to source their creations for those who understand their value. We support fair practices and transparent processes at every step of the supply chain process.
Therefore, for those pursuing an MBA in sustainable fashion management - we salute you and welcome you to join us.
To learn more about our work, feel free to reach out to us at Fashinza and discuss what's needed to take our partnership to the next level as a team.