It’s a new era of style where there are no rules, according to American fashion developer and couturier Alexander McQueen, and quick-thinking brands have definitely learned to accept the motto as more non-fashion brands start to look at it.
While businesses like Mandai Wildlife Group recently entered the fashion industry with its all-new 200-piece clothing collection earlier this month, food companies like KFC kicked off the Lunar New Year this year with a pair of specially designed” HuatWear” clothes. Although non-fashion items are not fresh, actually going back a generation when European luxury fashion home Moschino shocked consumers and fashion lovers everywhere with a cooperation with McDonald’s in 2014, it is undoubtedly seeing a resurgence in n2024.
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The transition into clothing is a successful way for companies to reshape their marketing strategies, according to Rebecca Nadilo, managing chairman of Iris.
Fashion is just another route or another way for companies to add meaning or become a part of their clients ‘ lives.
According to her, clothing partnerships allow brands to become more culturally aware while also allowing them to produce what consumers want. Additionally, there is very equity that can be gained from two brands collaborating, yet for some of the least suspect brands, Nadilo said.
Limited-edition fashion items can also develop a company and its relationship with customers by allowing for exclusivity. The less there is, the more individuals want it, Nadilo said,” Limited Edition drops enjoy brilliantly on lack. In the end, those customers who want their brands to be on a new drop feel special and” seen” by that brand.
This tactic, Nadilo believes to be useful, is one that is possibly under-used. This could be because customers are now more conscious about making buys, with consumers choosing to buy from companies that make responsibly.
pursuing sustainable clothing
92 % of luxury customers in Asia Pacific said they would stop purchasing from brands that do n’t care about sustainability, buy less, or change their minds. In addition, 27 % of consumers said they would stop purchasing from these brands immediately. This is based on a study conducted by comfort and responsible presentation company Delta Global in 2023 on wealthy customers in Hong Kong, Australia, Malaysia, Singapore, and mainland China.
Some brands continue to enter this sector because of its prospective growth and desire to be seen as a trendsetter, according to Stella Wong, founder of Brand Soul Malaysia, despite various sustainability and ethical issues being raised as key issues within the fashion industry.
She said that in addition to adhering to ethical standards when dealing with economic issues, brands that want to enter the fashion industry must take care of these issues as well. This includes adopting green methods for dealing with environmental issues.
Add on, companies that want to enter the fashion industry must do so with treatment. This includes adopting social standards and addressing cultural issues through ecological methods of dealing with environmental issues.
According to Wong,” Brands looking to enter the fashion industry properly must prioritize eco-friendly materials, incorporate ESG into their business methods, and accept transparency at work.”
By maintaining brand equity while maintaining consumer confidence, companies can continue to be successful while upholding their values.
True enough, Delta Global even discovered that customers favor brands that place a high value on environmental sustainability, with more than two-thirds of consumers saying they may purchase from these companies.
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