NEW YORK – Digital fashion solution company Sharecloth has released ‘The 2018 Apparel Industry Overproduction Report’, with hopes of shining a light on the amount of wasted clothing produced by the fashion industry.
The report aims to condense the varying figures found online into the most important and up-to-date source of information available. Sharecloth says that in the report, “you’ll find all you need know about the scale, causes and consequences of overproduction.”
One of the main focuses of the report is the burning of unsold clothing by major brands. In 2017, it was revealed that H&M had incinerated 15 tonnes of clothing, while last year Burberry admitted it had burnt products with a value of US$37 million instead of selling them at a lower cost.
The report also claims that companies which destroy their ‘deadstock’ will almost never acknowledge this publicly.
The report also contains many figures regarding the extent of the problem with the current trend of fast fashion. 150 billion garments per year are produced in the global fashion industry, which equates to about 20 items per person.
The average closet of a UK citizen, the report claims, contains 152 items, which amounts to US$45 billion of unworn clothes. And more than 50 per cent of fast fashion produced is disposed in under one year.
Also offered up is a warning to the fashion industry, that by 2030, fashion brands will see a profit reduction of US$52 billion if it continues operating the way which it currently does. This it says is due to scarce resources, higher labour costs and overproduction.
Towards the end of Sharecloth’s report, it poses the question ‘why do companies overproduce clothes?’ Once again the popular fast fashion is targeted, but other reasons given include a growing demand for clothing and also unit cost, with bigger orders equalling lower price per item. Despite the progress being made, there is still a long way to go to combat fashion’s overproduction problem.