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Textiles and clothing are a fundamental part of everyday life and an important sector in the global economy.

This deep dive explores how the principles of the circular economy can be applied to the fashion industry, beginning by covering why the fashion industry of today is not fit for purpose. Following that, it examines the vision for a new global textiles system through three focus areas that are critical to realising this vision:

1. New business models that increase clothing use
2. Safe and renewable inputs
3. Solutions so used clothes are turned into new

Finally, you will learn about the opportunities that exist for innovative business models that can be employed by the fashion industry, including clothing rental, increased durability, and boosting clothing care.

The fashion industry of today

Changing the system will unlock billion dollar economic opportunities. Globally, the USD 1.3 trillion clothing industry employs more than 300 million people along the value chain; the production of cotton alone accounts for almost 7% of all employment in some low-income countries.

Clothing represents more than 60% of the total textiles used and in the last 15 years, clothing production has approximately doubled, driven by a growing middle-class population across the globe and increased per capita sales in mature economies. At the same time, clothing use has declined by almost 40%. Both developments are mainly due to the ‘fast fashion’ phenomenon, with quicker turnaround of new styles, increased number of collections offered per year, and often, lower prices.

By moving to a circular system the industry can unlock a USD 560 billion economic opportunity. Realising this opportunity requires new business models and collaboration across the value chain (e.g. production, marketing, and after-sales care), to keep safe materials in use.