The future of fast fashion

Fast Fashion is not a term one would usually associate with fashion, but over the past decade, this concept has trampled the market in all aspects. Described as “trends designed and manufactured quickly and cheaply to allow mainstream consumers to take advantage of the current clothing styles at lower prices,” fast fashion has become a fashion byword that luxury retailers have grown to “dislike” and consumers have come to love.

Luxury retailers no longer have the monopoly on exciting and innovative experiences in fashion and with attitudes changing, the playing field has evened out. With the internet and the world at our fingertips (literally), anyone with a computer or decent camera phone can snag the look of runway masterpieces, and stores like Zara and H&M have this down to a tee.

At fast fashion outlets like Forever 21, Zara, and H&M, customers have reason to keep coming back since they update their stock every day. Usually this stock is in stores within weeks after major fashion shows--diminishing the concept of lead time. Zara does in one week what it would take Miu Miu six months to produce.

Zara, March 2010; Miu Miu SS 2010

H&M keeps the level of excitement going at a steady pace with their ingenious collaborations with exclusive, high-end designers whose products under normal circumstances would be beyond the buying capacity of a regular consumer.

Matthew Williamson for H&M, Summer 2009

But the question remains whether they will be able to sustain their seemingly endless successful run. Perhaps the other, more interesting conundrum is where do all these leave the luxury retail brands? Will they close shop or will they reevaluate their reason for being called luxury in the first place? I say enough commercialization of the luxury brands and get back to the essence of the business of exclusivity, exquisite craftsmanship, and unparalleled luxury.

Click here for more information on fast-fashion companies and their strategies.