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102-781: TOPSHOP (originally Top Shop ) is a British fast-fashion company, which specialises in women's clothing, shoes and accessories. It was part of the Arcadia Group , controlled by Sir Philip Green , but went into administration in late 2020 before being purchased by ASOS on 1 February 2021. It now operates via the ASOS website and app, as well as being sold in Nordstrom stores in the US on Nordstrom.com. TOPSHOP previously had around 510 shops worldwide. In 2024, ASOS sold 75% of Topshop and Topman to Danish company Bestseller . Topshop started as

204-408: A financial sponsor ) is an investment management company that provides financial backing and makes investments in the private equity of a startup or of an existing operating company with the end goal to make a profit on its investments. The target companies are generally privately owned entities (not publicly listed ), but it seldomly happens that private equity firms purchase the majority of

306-439: A return on investment through one of the following avenues: Private equity firms characteristically make longer-hold investments in target industry sectors or specific investment areas where they have expertise. Private equity firms and funds differ from hedge fund firms which typically make shorter-term investments in securities and other more liquid assets within an industry sector, with less direct influence or control over

408-857: A Topshop-Topman shop launched in Cape Town , at the V&;A Waterfront . On 24 October 2013, Topshop opened a concession at Galeries Lafayette in Paris, its first outlet in France. Topshop expanded into Australia in 2011, with shops in New South Wales and Victoria. In 2013 it opened a shop in Brisbane's CBD in a location previously occupied by Borders. However, in mid-2017 Topshop's Australian operations went into voluntary administration . By mid 2019, only Sydney's Market Street store remained opened, after

510-789: A bit of a concern going forward. Marketing is a key driver of fast fashion, creating the desire for consumption of new designs as close as possible to the point of creation. Marketing closes the gap between creation and consumption by promoting something fast, low-priced, and disposable. The continuous release of new products essentially makes the garments a highly cost-effective marketing tool that drives consumer visits, increases brand awareness, and results in higher rates of consumer purchases. Fast fashion companies have higher profit margins due to their lower % markdown percentage of 15% compared to competitors' 30% plus. The fast fashion business model reduces time cycles from production to consumption, stimulating sales through trends that change throughout

612-546: A brand extension of the department store Peter Robinson in the 1960s and originally sold fashion by young British designers, such as Mary Quant and Stirling Cooper . Peter Robinson was a women's fashion chain that had been acquired by Burton in 1946. Topshop was founded in 1964 as Peter Robinson's Top Shop , a youth brand within the Sheffield branch and also had a large department in the Oxford Street shop. This

714-487: A buyer, she rose through the ranks at the company. When she took on brand direction, Topshop had an annual profit of £9 million; by 2005 it was making over £100 million annually. Under her tenure, Topshop became a key sponsor of London Fashion Week , sponsoring its Newgen arm that supports emerging British designers from 2002 and the Fashion East initiative – which acts as a bridge between London's fashion colleges and

816-416: A certain amount of disposable income in order to participate in the movement. Khan argues that by proposing a solution to fast-fashion that is largely inaccessible to many consumers, they are positioning wealthier women as "agents of change" in the movement against fast fashion, whereas the shopping habits of lower income women are often considered "problematic". Andrea Chang provided a similar critique of

918-508: A collection with Red or Dead . It continued to work with designer talent, such as former Clements Ribeiro assistant Markus Lupfer – described in 1999 as "so hot he's practically steaming" – also working with, among others, Hussein Chalayan , Tristan Webber and Tracey Boyd. Typically, such ranges sold out quickly, and attracted column inches in the fashion press. In May 2007, British supermodel Kate Moss , designed her first collection for

1020-495: A deal to launch an activewear brand with Topshop. The 50-50 venture was initially called Parkwood Topshop Athletic Ltd and was scheduled to launch its first dance, fitness and sports ranges in autumn 2015. In November 2015, it was revealed that the brand would launch in April 2016. The brand was later revealed to be called Ivy Park. Arcadia Group went into administration at 8pm GMT on 30 November 2020. On 25 January 2021, ASOS said it

1122-413: A few days. Due to constantly evolving trends, buyers need to have their item before it is no longer in style. Oftentimes, fast fashion brands will offer the buyer deals, where they can spend a certain amount of money to get free shipping . This creates a lot of impulse buying , resulting in the items being returned. However, fast fashion returns do not always get sold again. The company will likely throw

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1224-460: A high-street rival. Judge Justice Birss agreed that customers would likely be deceived into believing it had the singer's approval. Topshop launched an appeal to the High Court, accusing Rihanna of wrongfully advocating that: "only a celebrity may ever market his or her own character" and Judge Justice Birss of misreading the law on "celebrity merchandising". The appeal was rejected unanimously at

1326-401: A major expansion of its womenswear division, splitting Top Shop by Peter Robinson into two chains to be known as Peter Robinson and Top Shop . It was announced that while Peter Robinson would target the over 25s market, Top Shop would focus on the age range from 13 to 24, with Ralph Halpern directing the new venture. By 1974, Peter Robinson had been reduced from 22 stores to six, while Top Shop

1428-527: A man for writing "pay your taxes" in washable ink on the wall of a Topshop branch in Colchester . In July 2013, the singer Rihanna won a lawsuit against Topshop to prevent it using her image unofficially on a T-shirt. The lawsuit was launched on the premise that Topshop customers would assume Rihanna endorsed the company, that would lead to a false representation of her celebrity image and increased tensions with her then endorsement deal with River Island ,

1530-414: A mass market at relatively low prices. The advancement of technology has allowed fast fashion to gain popularity over the last decade. Technology has allowed designers to create specifically what their consumers want according to what is "in" at the given moment. Every month, new things are trending and are displayed in stores to market towards youth. Technology has the power to change all the issues within

1632-450: A mature European private equity market emerged. Private equity companies, acting as general partners with investors as limited partners , acquire a controlling or substantial minority position in a company and then look to maximize the value of that investment. Strategies include leveraged buyout (with borrowed capital), venture capital (for start ups), and growth capital (mature companies). Private equity firms generally receive

1734-574: A network of local subcontractors and seamstress operatives based in Galicia. Thus, with shorter lead times , the company was able to respond rapidly to fluctuating demand by swiftly halting production of low-demand items and creating a sense of urgency for consumers to purchase in-demand clothing due to the ever-changing layout and stock of its stores. Items in the store may not be in stock during subsequent visits, prompting consumers to make immediate purchases if they wish to remain on-trend. The clothing

1836-544: A new circular system. A singular t-shirt requires over 2,000 liters of water to make. Clothing is not utilized to its full potential, the Ellen MacArthur Foundation explains that linear systems are contributing to unsustainable behavior and the future of fashion may need to transition towards a circular system of production and consumer behavior . Journalist Elizabeth L. Cline, author of Overdressed: The Shockingly High Cost of Cheap Fashion and one of

1938-419: A practice designed to give retailers the ability to make substantial and immediate adjustments to manufacturing. For example, up to 85% of Zara's merchandise can be changed in the middle of the season: A fast fashion system like Zara's can quickly update designs, resulting in short product cycles where a garment does not sit on the stores' shelf for long periods, giving the store a sense of exclusivity and raising

2040-493: A product-driven concept based on a manufacturing model referred to as " quick response " developed in the U.S. in the 1980s and moved to a market-based model of "fast fashion" in the late 1990s and the early 21st century. The Zara brand name has become almost synonymous with the term, but other retailers worked with the concept before the label was applied, such as Benetton . Fast fashion has also become associated with disposable fashion because it has delivered designer products to

2142-491: A publicly listed company and delists the firm after the purchase. To complete its investments, a private equity firm will raise funds from large institutional investors, family offices and others pools of capital (eg also other private-equity funds ) which supply the equity . The money raised, often pooled into a fund, will be invested in accordance with one or more specific investment strategies including leveraged buyout , venture capital , and growth capital . Although

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2244-438: A result of the content they post. For the most part, influencers focus their content on one subject area, like food or fashion and have become their own kind of " internet celebrities " whom followers value and whose opinions they trust. As a result, when social media influencers post content wearing an outfit from Shein , their followers may feel compelled to purchase clothing from that retailer too. Studies have shown that there

2346-584: A result, clothes became cheaper and easier to make and buy. Meanwhile, localized dressmaking businesses emerged, catering to members of the middle class , and employing workroom employees along with garment workers , who worked from home for meager wages. These dress shops were early prototypes of the so-called ‘ sweatshops ’ that would become the foundation for twenty-first-century clothing production. The Cosmopolitan journalist Lauren Bravo sees fast fashion stretching back to utility clothing and tailors who sold mass-produced affordable suits for men. In

2448-418: A stake in the fast fashion industry rather than create an alternative industry that is only accessible to some. Fast fashion proves successful economically for the retail industry worldwide. The fast-fashion market in 2020 globally produced $ 25.1 billion. It was expected to increase at an annual compound growth rate ( CAGR ) of 21.9%, resulting in the global market increase to $ 31 billion in 2021. By 2030, it

2550-552: A store or going online to make a purchase. Additionally, consumers can read real customer reviews on different social media accounts to get a better idea of the quality of the products as well as the customer service. Fast fashion retailers were quick to jump on the trend. Fast fashion retailers like Boohoo.com realized that social media advertisements could be a great way to reach their target audience , young girls. Such users were swarmed with fast fashion advertisements each time they opened Instagram . Companies like Boohoo hoped that

2652-546: A third of Burton's operating profits. Also in 1978, Burton embarked on a drive to win a larger share of the men's fashion market in the midst of declining sales of men's tailoring, launching the Topman brand along similar lines to its women's retail arm. It was described by an executive as: "more of a 'brother to Top Shop than a son of Burton'." The following year, Burton announced sales and profits up by 30 per cent in womenswear, with Topman also being cited as highly profitable. By

2754-449: A week to the stores, reducing the time between initial sales and replenishment. As a result, the shortened period improves consumer's garment choices and product availability while significantly increasing the number of per-customer visits per annum. In the case of Renner , a Brazilian chain, a new mini-collection is released every two months. Fast fashion typically offers buyers quick shipping, meaning delivery can be same-day or only take

2856-435: A week. This is a much higher salary than in developing countries but still lower than the U.S. standard of living in income conditions. To reach the target goals of consumer demands from the U.S. and Europe, garment laborers in developing countries, on average, are expected to work 11 hours a day. Fashion is updated frequently to meet peoples demand for the availability of the newest and latest clothing styles. The efficiency

2958-463: A whole, the textile industry occupies roughly 5% of all landfill space. This means that the clothing industry produces about 92 million tons of textile waste annually, much of which is burned or goes into a landfill and less than 1% of used clothing is recycled into new garments. The clothing that is discarded into landfills is often made from non-biodegradable synthetic materials. Greenhouse gases and various pesticides and dyes are released into

3060-402: A yearly profit of $ 158.4 billion from exporting such clothes. Additionally, the hazardous working circumstances these employees endure have an adverse effect on their health, as the employees have to regularly work with hazardous chemicals when manufacturing clothes. Toxic Chemicals, such as lead, phthalates, and per- and poly-fluoroalkyl substances (PFAS) are commonly used to preserve and increase

3162-624: Is $ 122 a month (or US$ 400 at U.S. prices). The lowest hourly wage for workers in developing countries is less than US$ 0.50 . In developed countries like the United States, the average garment worker in Los Angeles, reported by the Garment Worker Center (GWC), is about $ 5.15 per hour despite the federal minimum wage being $ 7.25 per hour in 2016. Hence, workers' monthly income would be about $ 858 if they worked 40 hours

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3264-582: Is a correlation between following social media influencers and shopping more frequently. Even though some fast fashion retailers still have "celebrity ambassadors" , many retailers have turned to social media influencers to promote their clothing. The world saw a surge in these social media marketing practices during the coronavirus pandemic. Shein quickly took center stage across numerous social media platforms. Social media users, specifically young women, could not go online without seeing something from this fast fashion website, and "Shein hauls" became one of

3366-414: Is achieved through the retailers' understanding of the target market 's wants, which is a high fashion-looking garment at a price at the lower end of the clothing sector . One of the largest causes of the high demand is the short trend cycles: The more an audience is exposed to new trends, the higher the demand grows. Primarily, the concept of category management has been used to align the retail buyer and

3468-555: Is estimated that the fast fashion industry will bring a revenue of $ 192 billion to the world's global economy. This economic growth from fast fashion is demonstrated through how companies like H&M or Shein strategize in manufacturing. Most fast fashion clothes exporters are from developing countries across Asia, such as India , Bangladesh, Vietnam , China , Indonesia , and Cambodia . Developing countries' economies rely on fast fashion consumption as most export earnings profit from ready-made clothes. China, for example, has gained

3570-454: Is more than international flights and maritime shipping combined annually. The materials used not only affect the environment in textile products, but also the workers and the people who wear the clothes. The hazardous substances affect all aspects of life and release into the environments around them. Optoro estimates that 5 billion pounds of waste is generated through returns each year, contributing 15 million metric tons of carbon dioxide to

3672-420: Is no excuse for profitable multi-national companies which provide huge payouts to shareholders refusing to pay decent wages; fully supports cleaners contracted to work at Topshop stores who are unionising, protesting and campaigning for the living wage; is extremely concerned by reports that these staff are being victimised and bullied for asking for a decent wage; further believes that it is utterly disgraceful for

3774-1110: Is the investment cost of materials to make a garment . Fast fashion invests in polyester and cotton fabric because they are inexpensive and durable. In 2020 polyester's global price per metric ton was $ 725 (or 32.9 cents per pound), and the global price for cotton in 2021 was 126 cents per pound. According to these statistics, polyester fabric is more affordable than cotton, but both are relativity cheaper than higher quality fabric such as silk or wool . One basic T-shirt would require .5 pounds of cotton material, resulting in less than $ 1 of cotton fabric used. The fast fashion industry faces criticism for hiring garments workers from developing countries for their low wages. There are more than 60 million workers that produce garments for fast fashion retail, and 80 percent of those workers are women. MVO Netherlands researched in 2019 that workers' monthly wages in Ethiopia that manufacture for H&M , Gap , and JCPenney begins at $ 32 (equivalent to US$ 105 at U.S. prices), while an experienced worker

3876-576: Is the world's longest-running retailer. In 1946, Erling Persson , a Swedish entrepreneur, traveled to New York City, where he was greatly intrigued and impressed by the high-volume fashion production he witnessed. The following year, Persson established a womenswear store called Hennes & Mauritz (or H&M ) in Västerås , Sweden. Between 1960 and 1979, the company rapidly expanded, with 42 stores across Europe, and began producing clothing for women, men, and children. The foundation for expansion into

3978-500: Is then only worn a few times before it is no longer in style, creating the need to constantly return to the store and buy new, on-trend items cheaply. Unlike many fashion companies, Zara rarely invests in television adverts or press promotional campaigns. Instead, it relies on store windows to convey the brand image, word of mouth , and establish store locations strategically in areas with high consumer traffic. The origin story of H&M shares common threads with Zara. Technically, it

4080-455: Is to create the shortest production time possible. The quick turnover has increased the demand for the number of seasons presented in the stores. This demand also increases shipping and restocking time periods. Cost is still the consumer's primary buying decision . Costs are largely reduced by taking advantage of lower prices in markets in developing countries. In 2004, developing countries accounted for nearly 75 percent of all clothing exports and

4182-541: The garment workforce . Labor practices in fast fashion are often exploitative, and due to the gender concentration of the garment industry, women are more vulnerable. Fast fashion's environmental impact has also been the subject of controversy. The global fashion industry is responsible for 8–10% of global carbon emissions per year, to which fast fashion is a large contributor. The low cost of production, favoring synthetic materials , chemicals, and minimal pollution abatement measures have led to excess waste . Before

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4284-506: The 1960s and 1970s, as the younger generations began to create new trends. During this period there was still a clear distinction between luxury goods and high street fashion. In the 21st century mass consumption of clothing has been on the rise. In 2014, the average person purchased 60 percent more articles of clothing and kept said clothing for half as long compared to the year 2000. Fast fashion retailers such as Zara , H&M , Topshop , and, Primark emerged as prominent brands in

4386-400: The 1960s companies like Inditex and Chelsea Girl attained commercial acumen, but the brand Biba endured as a fast fashion icon. Before the popularization of the fast fashion model, the fashion industry traditionally operated on a four-season cycle, with designers working months in advance to anticipate customer preferences. However, this approach underwent a significant transformation in

4488-477: The 19th century, fashion was a laborious, time-consuming process that required sourcing materials like wool , cotton , or leather , treating and preparing the materials by hand, then weaving or fashioning them into functional garments, also by hand. However, the Industrial Revolution changed the world of fashion by introducing new technology like the sewing machine and textile machines . As

4590-532: The Arcadia Group, which owns Topshop, or its contractors to punish staff for asking for decent wages Fast-fashion Fast fashion grew during the late 20th century as manufacturing of clothing became less expensive—the result of more efficient supply chains , new quick response manufacturing methods, and greater reliance on low-cost labor from the apparel manufacturing industries of South , Southeast , and East Asia , where women make up 85–90% of

4692-657: The Court of Appeal in London on 22 January 2015 In July 2015, Topshop has been criticised for its mannequins which some judged as too skinny. After a customer complained on Facebook, the fashion chain stopped using its tall and skinny female shop mannequins. It's also been criticised in October 2018 for removing an in-store pop-up in its London flagship store that was used to promote feminism with publisher Penguin after only being up for 20 minutes. The fashion retailer had agreed to host

4794-610: The Edinburgh branch was targeted by student campaigning network People & Planet for allegedly using cotton picked by " slave labour ". In December 2010, some 200 campaigners staged a sit-in that closed Topshop's Oxford Circus shop, and in Brighton a number of protestors glued themselves to the branch windows. Other high streets in towns and cities across Britain saw similar protests in a day of action by UK Uncut against corporate tax arrangements. Two months later, police arrested

4896-682: The Newgen scheme – a year later. This sponsorship continues and since 2005 it has been part of the London Fashion Week catwalk schedule. In December 2012, Philip Green sold a 25% stake in Topshop and Topman to the US-based private equity group Leonard Green and Partners for US$ 805 million. Under the terms of the deal, Arcadia retained Topshop's flagship Oxford Street shop (said to be worth between £400 and £500 million). Green said that

4998-519: The Topshop, Topman, Miss Selfridge and HIIT brands out of administration for £265 million, paying an additional £65 million for current and pre-ordered stock. ASOS will keep 300 employees on as part of the deal but will not keep any of the brand's stores, putting 2,500 jobs at risk. In July 2021, it was announced that Nordstrom had acquired an unspecified minority stake in the Topshop Topman , Miss Selfridge and HIIT businesses from ASOS , with

5100-696: The US as well as seeking opportunities in Europe. Although the Japanese flagship shops launched in 2006, all 5 shops in Japan shut in 2015. In 2013, parent group Arcadia began stepping up its franchise deals, announcing a planned 150 new shop openings with partners in Canada, Australia and Vietnam, to include Topshop and Topman shops. In November 2012, Topshop launched its first shop in South Africa . In April 2013

5202-416: The atmosphere. Fast fashion production has doubled since 2000, with brands such as Zara producing 24 collections a year and H&M producing about 12 to 16 collections a year. The speed of clothing consumption has increased substantially since the late 1990s across the world. All aspects of fast fashion have elements that are not environmentally friendly, the amounts of waste from disposal of textiles into

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5304-553: The attractiveness of an item. Fast fashion particularly came to the fore during the vogue for " boho chic " in the mid-2000s. According to the UK Environmental Audit Committee's report "Fixing Fashion", the practice "involves increased numbers of new fashion collections every year, quick turnarounds and often lower prices. Reacting rapidly to offer new products to meet consumer demand is crucial to this business model." Fast fashion has developed from

5406-557: The brand. The appointment of Moss was announced just before the departure of Shepherdson for Whistles . In the same year, artist Stella Vine designed a limited edition range inspired by her artworks. These included T-shirts, vest tops, and T-shirt dresses, with the labels designed in pink glitter. The Guardian commented that "the fact that the range of T-shirts she has recently designed for TopShop – emblazoned with slogans like Breaking Up With Her Boyfriend – are flying out, speaks volumes for her public support." In 2014, Beyoncé signed

5508-412: The broader private equity industry two distinct sub-industries, leveraged buyouts and venture capital , grew along parallel tracks. In its early years through to roughly the year 2000, the private equity and venture capital asset firms were primarily active in the United States. With the second private equity boom in the mid-1990s and liberalization of regulation for institutional investors in Europe,

5610-452: The chief executive of ASOS commented "We might open stores. We will consider it for sure but we have no specific agreement to open a certain number". Topshop had around 510 shops including those that are franchised ; over 300 shops were located in the UK. It had operated across 37 countries and via online operations in several markets. Topshop began planning its expansion to the United States in

5712-622: The closure of stores at Westfield Bondi Junction and Melbourne's Emporium earlier in the year. In March 2020 Topshop closed its final Australian store, 11 years after its initial launch. In 2015, Topshop opened a flagship shop in Auckland and 10 months later a shop in Wellington . The company has had a presence in New Zealand since 2010, opening a small concession within a department store in 2010. Located on Auckland's Queen Street ,

5814-413: The company's buyers. Traditionally with a "supermarket" market the buying is divided into multi-functional departments. The buying team uses the bottom-up approach when trend information is involved, meaning the information is only shared with the company's fifteen top suppliers. On the other hand, information about future aims, and strategies of production are shared downward within the buyer hierarchy so

5916-448: The constant exposure to their products would influence users to not only visit their website, but also to buy clothing from them. Instead of posting pre-made ads on their accounts, fast fashion retailers realized that an effective way to advertise could be to use social media influencers . Social media influencers can be defined as "regular" individuals who have accrued a large number of followers across multiple social media platforms as

6018-584: The country, supported by various trade unions and activist groups, calling for the Living Wage and dignified treatment of outsourced cleaners being victimised for trade union activity. Two weeks earlier, an Early Day Motion in the House of Commons supported by 11 MPs noted: that contract cleaners employed at Topshop stores by the contractor Britannia Services Group are paid below the living wage, forcing hard-working staff into debt and poverty; believes that there

6120-400: The deadliest garment-related accident in world history, brought more attention to the safety impact of the fast fashion industry. In the rise of slow fashion, emphasis has been given to quality clothing that is more enduring. In the 2020 spring-summer fashion season, high-end designers led the movement of slow fashion by creating pieces that developed from environmentally friendly practices in

6222-489: The deal would enable Topshop to speed up its expansion, particularly within the US. In 2015, Topshop started collaborating with the online retailer Zalando and began selling their merchandise in their shops. Advertisements featuring model Cara Delevingne were broadcast in Germany, Switzerland and France. Topshop has been among the UK chain shops to work with high-fashion brands on capsule collections. In 1994, it launched

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6324-499: The durability of clothes, however, too much contact with these chemicals puts employees and consumers at risk of getting deadly diseases. Alongside the risk of illness employees are more likely to suffer from accidents among their coworkers and having a negative effect on the labor force around the world. The fast fashion industry can thrive economically through the low production costs of its manufacturers in Asia. One low production cost

6426-510: The earliest critics of fast fashion, notes in her Atlantic article "Where Does Discarded Clothing Go?" that Americans are purchasing five times the amount of clothing than they did in 1980. Due to this rise in consumption, developed countries are producing more and more garments each season with the U.S. importing more than 1 billion garments annually from China alone. United Kingdom textile consumption surged by 37% from 2001 to 2005. The Global Fashion Business Journal reported that in 2018,

6528-451: The environment by fashion-related operations. The United Nations estimated that the business of what we wear, including its long supply chains, is responsible for 10 percent of the greenhouse gas emissions heating our planet. The growing demand for quick fashion continuously adds effluent release from the textile factories, containing both dyes and caustic solutions. In comparison, greenhouse gas emissions from textile production companies

6630-457: The fast fashion industry. Brands such as Zara have been listening to their consumers and "thinking green" to improve their environmental impact. As Nina Davis stated in 2020, "[Companies] are also adopting advanced technologies to improve supply chain efficiency and reduce their carbon footprint ." The slow fashion or conscious fashion movement has risen in opposition to fast fashion, taking issue with responsibility for pollution (both in

6732-463: The flagship shop sold out of some of its ranges before it had opened. In September 2017, the franchise went into receivership and both shops closed on September 28, 2017. Topshop had originally expanded into Singapore since 2000 with the outlet opening at Orchard Road. On 17 September 2020, all stores were eventually closed down citing losses, before the acquisition by ASOS in February 2021. Many of

6834-411: The frequent availability of new products. Fast fashion is considered to be a " supermarket " segment within the larger sense of the fashion market. This term refers to fast fashion's nature to "race to make apparel an even smarter and quicker cash generator". Three crucial differentiating model factors exist within fast fashion consumption: market timing , cost, and the buying cycle. Timing's objective

6936-502: The garbage system is increasing beyond the industries capabilities. The fast fashion industry currently has little to do with the end of life cycle of clothing, however, with recent social pressures some fast fashion companies collect and export their disposed textiles to developing countries for charity. As the production increases and charities are beginning to turn away fast fashion for being cheaply made, organizations are struggling to come up with sustainable solutions to continue against

7038-483: The global fiber production has reached the highest all-time, 107 million metric tons. The average American household produces 70 pounds (32 kg) of textile waste every year. The residents of New York City discard around 193,000 tons of clothing and textiles, which equates to 6% of all the city's garbage. In comparison, the European Union generates a total of 5.8 million tons of textiles each year. As

7140-530: The global market was laid in the 1980s when H&M acquired Rowells, a Swedish mail order company, and used its networks to sell fast fashion by catalog and mail order. In the 1990s, H&M invested in large city billboard advertising, featuring celebrities and supermodels. H&M opened its flagship USA store on Fifth Avenue in New York City in 2000, marking the commencement of its expansion outside of Europe. Fast fashion brands produce pieces to get

7242-441: The high street fashion scene. Initially starting as small stores located across Europe, they were able to quickly gain prominence in the U.S. fashion market by replicating design elements from runway shows and top fashion houses and quickly reproducing them at a fraction of the cost. The origins of the "fast fashion" phenomenon involve several key players, rather than a single brand or company. One influential figure in this movement

7344-412: The industry has developed and matured substantially since it was invented, there has been criticism of private equity firms because they have pocketed huge and controversial profits while stalking ever larger acquisition targets. The history of private equity firms has occurred through a series of boom-and-bust cycles since the middle of the 20th century with significant growth since the 1980s. Within

7446-423: The industry. Stella McCartney is a luxury designer who focuses on sustainable and ethical practices and has done so since the 1990s. British Vogue explained that the process of designing and creating clothing in slow fashion involves consciousness of materials, consumer demand, and climate impact. In her 2016 article titled "Doing Good and Looking Good: Women in 'Fast Fashion' Activism", Rimi Khan criticized

7548-543: The instant hook. Research shows that 75 percent of consumers' decisions are made in front of a fixture within three seconds. In recent years, fast fashion retailers have taken a new approach to reaching consumers. Initially, social media's sole purpose was to act as a platform allowing people to connect with other users worldwide. However, social media has become a way for retailers to promote their products and impact consumer behavior . Now, consumers are able to look at products and businesses on social media before heading to

7650-453: The intention of selling the brands online and instore across North America. On the 5 September 2024, ASOS announced that it sold a 75% stake of Topshop & Topman to the Danish company Bestseller. It was announced that the Topshop & Topman websites would relaunch within 6 months of the deal with Bestseller, as well it was hinted that the brands could return to the high street with stores,

7752-426: The item out because it is no longer in style. The concerns are not simply related to solid waste any longer either. Fast fashion packaging is accountable for 40% of plastic waste according to a 2022 Organization for Economic Co-operation and Development report. While a recent survey found that nearly 10% of the microplastics found in the ocean occur from textile waste and discarded fashion clothing which may raise

7854-408: The manufacturer in a more collaborative relationship. Quick Response (QR) was developed to improve manufacturing processes in the textile industry to remove time from the production system. The U.S. Apparel Manufacturing Association initiated the project in the early 1980s to address a competitive threat to its textile manufacturers from imported textiles in countries with low labor costs. During

7956-585: The mid-2000s and was tipped to open in New York as early as 2007. Currently it operates via a website and sells in Nordstrom shops. A small number of wholly owned shops were located in major cities. On 5 November 2014 it opened a flagship shop in New York City, located on Fifth Avenue . The shop was the largest international site, and second only to the Oxford Street, London shop in square footage. This

8058-444: The most popular trends on TikTok , with 4.7 billion views as of March 2022. Haul videos consist of individuals recording themselves showing items they purchased (typically a large quantity) and posting the video on platforms like YouTube or TikTok. Amid a global pandemic, these billions of views allowed Shein to bring in about $ 10 billion in revenue that year. The consumer in the fast fashion market thrives on constant change and

8160-629: The newest style on the market as soon as possible. They emphasize optimizing certain aspects of the supply chain for the trends to be designed and manufactured quickly and inexpensively and allow the mainstream consumer to buy current clothing styles at a lower price. This philosophy of quick manufacturing at an affordable price is used in large retailers such as SHEIN , H&M , Zara , C&A , Peacocks , Primark , ASOS , Forever 21 , and Uniqlo . These retailers produce and sell products in small batches, keep surplus manufacturing capacity on hand, and frequently induce items to be out of stock,

8262-805: The operations of a specific company. Where private equity firms take on operational roles to manage risks and achieve growth through long-term investments, hedge funds more frequently act as short-term traders betting on the up or down sides of a business or of an industry sector's financial health. According to Private Equity International 's PEI 300 ranking, the largest private equity firms include The Blackstone Group , Kohlberg Kravis Roberts , EQT AB , Thoma Bravo , The Carlyle Group , TPG Capital , Advent International , Hg , General Atlantic , Warburg Pincus , Silver Lake , Goldman Sachs Principal Investment Group and Bain Capital . These firms are typically direct investors in companies rather than investors in

8364-519: The pop-up with Penguin, to help launch the book Feminists Don't Wear Pink (And Other Lies), written by Scarlett Curtis, with products for sale supporting the UN charity Girl Up. In May 2016, the UVW union organised a large protest outside Topshop's Oxford Circus store attended by Shadow Chancellor John McDonnell MP. It was the headlining event in a national "day of action" involving 16 other Topshop stores around

8466-577: The private equity asset class, and for the most part the largest private equity investment firms focused primarily on leveraged buyouts rather than venture capital . Preqin ltd (formerly known as Private Equity Intelligence), an independent data provider, provides a ranking of the 25 largest private equity investment managers . Among the largest firms in that ranking were AlpInvest Partners , Ardian (formerly AXA Private Equity), AIG Investments , Goldman Sachs Private Equity Group, and Pantheon Ventures . Because private equity firms are continuously in

8568-478: The process of moving goods from design concepts to retail stores and through to consumption. The selection of a merchandising vendor is a key part in the process. Inefficiency primarily occurs when suppliers cannot respond quickly enough, and clothing ends up bottlenecked and in back stock. Two kinds of supply chains exist, agile and lean . In an agile supply chain, the principal characteristics include sharing information and technology. The collaboration results in

8670-551: The production of clothes and in the decay of synthetic fabrics), poor workmanship, and emphasis on very brief trends over classic style. Elizabeth L. Cline's 2012 book Overdressed: The Shockingly High Cost of Cheap Fashion was one of the first investigations into the human and environmental toll of fast fashion. The practice has also come under criticism for contributing to poor working conditions in developing countries . The 2013 Dhaka garment factory collapse in Bangladesh ,

8772-459: The project, lead times in the manufacturing process were halved; the U.S. industry became more competitive for a time, and imports were lowered as a result. The QR initiative was viewed by many as a protection mechanism for the American textile industry to improve manufacturing efficiencies. Quick response is now used to support fast fashion, creating new products while drawing consumers back to

8874-470: The reduction in the amount of stock in megastores . A lean supply chain is characterized as the correct appropriation of the commodity for the product. The companies in the fast fashion market also utilize a range of relationships with suppliers. The product is first classified as "core" or "fashion". Productive internal relationships within fast fashion companies are as important as the company's relationships with external suppliers, especially regarding

8976-441: The removal of several import quotas has allowed companies to take advantage of the even lower cost of resources. The buying cycle is the final factor that affects the consumer. Traditionally, fashion buying cycles are based around long-term forecasts that occur one year to six months before the season. Supply chains are central to the creation of fast fashion, and supply chain systems are designed to add value and reduce cost in

9078-580: The retail experience for consecutive visits. Quick response also makes it possible for new technologies to increase production and efficiency, typified by the introduction of the complementary concept of Fast Fit . The Spanish mega chain Zara , owned by Inditex , has become the global model for how to decrease the time between design and production. This production shortcut enables the company to manufacture over 30,000 units of product every year to nearly 1,600 stores in 58 countries. New items are delivered twice

9180-562: The seasons. For example, the traditional fashion seasons followed the annual cycle of summer, autumn, winter and spring, but in fast fashion cycles have compressed into shorter periods of 4–6 weeks and in some cases less. Marketers have thus created more buying seasons in the same time-space. Companies use two marketing strategies, since the main difference is the amount of advertisement spending. While some companies invest in advertising, others like Primark operate with no advertising, investing in store layout and visual merchandising to create

9282-531: The slow fashion movement in her article "The Impact of Fast Fashion on Women". She wrote that the slow and ethical fashion movements place too much responsibility on the consumers of fast fashion clothing, most of whom are women, to influence the industry through their consumption. Chang suggests that because most consumers are limited in their ability to choose where and how they purchase clothing, largely due to financial factors, anti-fast fashion activists should target lawmakers , manufacturers , and investors with

9384-460: The slow fashion movement, particularly the work of high-profile designers and slow fashion advocates McCartney and Vivienne Westwood , as well as other well known industry professionals such as Livia Firth , for creating fashion products which cater to a mostly western , wealthy, and female demographic. Khan also pointed out that because most slow fashion products are significantly more expensive than fast fashion items, consumers are required to have

9486-509: The social and soon governmental pressure. There are many organizations that provide educational tools on how to reuse and recycle textiles to interested individuals, such as "Human Bridge (charitable organization)". Additionally, the retail and textile chains that encourage recycling or reuse often provide incentives, such as Lindex , which offered a rebate to customers who turned in their clothes. Private equity firm A private equity firm or private equity company (often described as

9588-410: The start of the 1980s, the brand was being referred to as Topshop . In the 1980s, Topshop struggled to maintain its profile as a fashion brand, but by the late 1990s it began undergoing a revival. The brand pioneered online fashion, launching UK's first online fashion store for Topshop This turnaround is often credited to the promotion of Jane Shepherdson as brand director. Having begun her career as

9690-413: The stores are closed worldwide due to the acquisition by ASOS such as Israel, Philippines, Hong Kong, Egypt, Indonesia, Netherlands, Singapore, Thailand and United Kingdom. Other areas that are likely to close down will be Malaysia, Canada, Saudi Arabia, Kuwait, United Arab Emirates, Qatar and Bahrain. Topshop has been criticised for its overseas sourcing policies and its tax arrangements. In December 2007,

9792-640: The team can consider lower cost production options. According to the United Nations Economic Commission for Europe, the fast fashion system provides opportunities for economic growth, but the entire industry hinders sustainability efforts by contributing to 20% of wastewater . In addition, fast fashion is responsible for nearly 10 percent of global gas emissions. Providing insight, the Ellen MacArthur Foundation released study results on fashion and suggests

9894-572: The term fast fashion to describe Zara's business model, highlighting its ability to bring a designer's idea to store shelves in as soon as 15 days. In their 2008 article "Fast Fashion Lessons," Donald Sull and Stefano Turconi studied how Zara revolutionized the fast fashion industry. They attributed the company's success to its strategic supply chain and production network where Zara maintained complicated and capital-intensive operations (like computer-guided fabric cutting) in-house, and outsourced more labor-intensive operations, such as garment sewing, to

9996-538: Was Amancio Ortega , the founder of Zara . Established in 1963 in Galicia, Spain , Zara gained prominence by offering affordable imitations of high-end fashion trends alongside its original designs. In 1975, Ortega opened the first European retail outlet for his collections, pioneering his short-term production and distribution model. By the early 1990s, he had expanded to New York, and the New York Times coined

10098-659: Was developing independently (still retaining the one co-branded shop in Oxford Street) and was described as "highly profitable". Its key retail rivals included Miss Selfridge and the Way In boutique arm of Harrods . Within two years, Top Shop had 55 standalone branches, with more to come according to an article in The Times . Fashion editor Prudence Glynn described it as having a: "sharp definition of purpose". It made profits of £1m that year. By 1978, Top Shop accounted for

10200-972: Was high fashion for the "young and different generation" as The Times put it in 1965, and the department stocked garments by names such as Mary Quant and Gerald McCann . By 1966, it had a branch in the Peter Robinson store in Norwich . Peter Robinson's Top Shop buyer Diane Wadey had an eye for young talent and introduced Royal College of Art graduate Jane Whiteside to Jeff Cooper and Ronnie Stirling. The Stirling Cooper brand they created soon had its own sections in Top Shop shops in London and Sheffield, as well as being stocked in Peter Robinson stores in Norwich and Bristol . Other brands stocked at Top Shop included Jeff Banks , French Connection and Radley Cooper . In 1973, parent company Burton Group launched

10302-509: Was in "exclusive" talks to buy Arcadia's Topshop, Topman, Miss Selfridge and HIIT brands out of administration, though it only wanted the brands, not the shops. A consortium including Next had earlier dropped a bid to buy Topshop and Topman; interest in Arcadia operations had also been expressed by Mike Ashley 's Frasers Group , a consortium including JD Sports , and online retailer Boohoo . On 1 February 2021, ASOS announced it had acquired

10404-472: Was its second shop in New York City, the first having opened on Broadway in 2009. On 23 May 2019, Arcadia filed for Chapter 15 bankruptcy in the United States and announced that all 11 US freestanding Topshop stores would be liquidated and closed; however, Topshop would continue to sell its merchandise exclusively at Nordstrom locations. Topshop announced a five-year international expansion plan in early 2011, planning to open new shops across Asia, Australia and

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