Business of Luxury Fashion: `Invest in people’
The perception of Luxury, Luxury consumers and Fashion has changed since 2008. While it was only accessible to rich consumers earlier, today it has become accessible and aspirational for millions. Consumers look for more subtle products, more experience, specialized service. But top of all, they are now fully aware of ethical values in terms of working conditions, components of the products and how friendly are company products to the eco-system.
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So, all brands must give ultimate important to Sustainability, Innovation, and since resources are scarce, we have to take care of the environment to produce. We have to provide healthy, hygienic environment to the workers, give them fair wages, practice fair trade, be transparent on our supply chain. If we aren’t practicing all these values, those in new luxury fashion would/will be out of business, as the media and consumers diligently follow what brands do.
Fashion is critical to all, especially women
Why is Fashion critical to all? What is in it for women?
Fashion is the second most important and big economic activity in the world. It creates multi-billion business dollars and brings opportunity to society. If we consider the number of women in the workforce, which is 50% of the total women population in the world, versus 75% of male population, there is a huge potential for women to grow and thrive in the fashion industry. Fashion is a MUST for their self-esteem, for their family to increase income, improve health conditions, increase the education rate for their children and themselves. There are several studies and support by global institutes to fight poverty. It is the only way to reduce poverty — that it is critical to have MORE WOMEN in the labour force to foster Gender Equality.
Based on the World Economic Forum 2014 `Global Gender Gap Report,’ gender equality has a positive relation to per capita GDP. By keeping all these values in mind and the changing concepts of luxury fashion, as a leading fashion company we, at ARMAGGAN www.armaggan.com have been working on women empowerment, sustainability and innovation celebrating and embracing this CULTURE and CREATIVITY since 2007. We support and employ more than +300 women in 26 cities. We do have a Natural Dye Laboratory www.tcfdatu.org/tr where we practice on more than 600 insects and plants to create textile products, servicing to museums and institutions all around the world. We produce natural dyed textile products and run numerous developmental research projects.
To make fashion a holistic experience at our Istanbul, Nuruosmaniye, 7 floor Emporium, we give consumers an experience of our heritage, culture, local food and art. This is how we run our business by giving back to society. This is the new luxury and new normal in fashion now. Makes me proud to say that Armaggan is the best practice place to work in concept and values.’’