Fashinnovation Event: Innovation in the Business of Fashion

Fashinnovation held its 3rd Worldwide Talks in collaboration with the UN Office for Partnerships. Even though the fashion world will not be able to come together in Spring Studios this Fall, Fashinnovation brought together global leaders in fashion, technology, and cross-over industries for a day-long online summit. Rachel Zoe, Abrima Erwiah, Rebecca Minkoff, Derek Blasberg, and many more came together to discuss the foreseeable trends in the next normal after the shake-down of the Covid-19 pandemic. 19 panels featuring 73 speakers focused on the areas of sustainability, ethical sourcing, social justice, diversity and inclusivity, and climate change. Through interactive conversations, Fashinnovation created a global network for fostering change.

One of those talks was about the growing need for innovative ideas to boost an industry on the tightrope. COVID-19 pandemic and the subsequent lockdown that most countries put in place forced all physical retailers to keep their stores shut, damaging the whole fashion, textile and garment industry. As such, only through embracing digital transformation can the industry be ready for what it comes next.

Let’s take a look at the solutions that were laid out in the event:

Fashion Industry: Digital Landscape

Covid-19 led brands, creatives, and consumers to explore the digital landscape of the fashion industry. With an abundance of content available, Youtube’s ease of sharing with a broad audience and high accessibility became a platform for exploring digital opportunities. From live fashion shows to subscription channels, Youtube cultivates an interconnected global network for the fashion industry members.

While technology is opening up technical opportunities for the brands within the industry, branding and storytelling still play a crucial role in the communication between the brand and its consumers.

Fashinnovation worldwide poster

Entrepreneurship, Branding, and Storytelling

During the panel “Fashion is Entrepreneurship via Branding and Storytelling,” Larry Gulko of Brand: New Way urged the audience to think about the effectiveness of being relatable to consumers and the role of creating stories that will resonate with them. Gulko’s questions “What are you really selling?” and “What was your most recent product launch, and why was it significant?” challenged the speakers to identify the paths of their branding strategies.

Fashion is a Journey: Rachel Zoe Shares Her Path

3rd Worldwide Talks hosted Rachel Zoe, Founder and Chief Curator of CURATEUR (aka Box of Style), shared her journey from her college years to becoming a founder and a CEO. While she dived into the ins-and-outs of the fashion industry as well as work-family balance as a working mother, she also advised people working their way into the industry to find their voice, stay extremely focused, figure out their meaning to their community and their community’s meaning to them, and speak up for themselves. In the wake of Covid-19, Zoe envisions that Change will take over the fashion industry.

Innovative technology is becoming essential for the fashion industry. The industry is attracting investments across sectors, and people have started to carry their careers into the fashion industry as innovation continues to grow.