Apparel companies all know they should be more sustainable, and most do want to be. But sustainability can be difficult to achieve. It can be costly, hard to scale, and missteps can crush a company in the court of public opinion. Additionally, with consumers already tightening their purse strings, is sustainable fashion a sustainable business model?
Apparel brand Eileen Fisher, with its 60-plus stores and $300 million in sales would certainly say yes. The certified B Corporation has an almost cult-like following among its very eco-minded consumers, and sustainability factors prominently in sourcing, manufacturing, worker treatment, consumer marketing and more.
In this fireside chat for Retail Rx, Susan Scow, sustainability impact specialist, Eileen Fisher, chatted with Ian Fredericks, CEO of Hilco Global Capital Solutions and executive director of Hilco Global’s retail and consumer platform, and Lauren Parker, director, Fairchild Studio on Eileen Fisher’s model and what the industry can learn.
“There’s a lot to be said for collaborating and sharing information,” said Scow. “We collaborate with people who we call partners and are also competitors, depending on the circumstances, and I’m thrilled that Eileen Fisher is a leader in that regard.”
She also advised companies who want to be more sustainable to look upstream. “Ask your suppliers what they’re doing to be more sustainable and what sort of help they’re looking for,” she said. “Oftentimes they’re already trying to do something and just need a boost.”
To watch the video, click the image above.