SUSTAINABLE MARKETING IN FASHION INDUSTRY – GREEN IS THE NEW BLACK

Abstract

The undeniable economic importance of the fashion industry has opened many research questions that have become the subject of relevant scientific institutions worldwide. Starting from the fact that the fashion industry is one of the few that has made constant growth in the past decade, it is challenging to continue its growth in the future, but on a sustainable basis. The paper analyzes the concept of modern fashion from the aspect of economy and its effects on the environment. With the current pace of production and consumption of fashion products, the industry faces the threat caused by the neglect of the environment and excessive use of resources. It is calculated that more than $500 billion of value is lost every year due to clothing underutilization and the lack of recycling. This situation is unfavorable not only for society and the environment, but also for fashion companies taking into account the cost of resources, which will jeopardize the profitability. The core priorities for immediate implementation in fashion industry are supply chain traceability, combating climate change, efficient use of resources and secure work environments. Therefore, this research tends to emphasize the main obstacles that fashion industry will face toward its sustainable development in future as well as to explore the possible solutions.