ACHIEVING SUSTAINABLE BUSINESS EFFICIENCY IN EVER-GROWING FASHION INDUSTRY

Authors: Dr Parimala. G* & Dr Deepa. V

ABSTRACT

The World fashion industry is around the clock, driven by new technologies, changing consumer preferences, and other factors such as social and cultural touch, globalization, lifestyle modification, trendsetters, and a massive increase in online fashion shopping caused by the pandemic and what more to reach high.  Though the growth prospects are substantially high, it is one of the world’s most polluting industries as it has vast energy consumption, chemicals, water, and generates mountains of waste. Global economies are now stressing the point of pollution to climate change with landfills generated by the textile industry and the robust legal framework was devised where every business in the value chain is responsible for communicating to the consumers or market how far they travel in not impacting the environment and helping it to go green.

The present study contributes to the circular economy using a self-reflective approach and a business model for achieving sustainable business efficiency in the fast-growing fashion industry.  Adopted Convenient sampling method, data was collected from the manufacturers in various parts of Tamilnadu using a well-structured questionnaire. With the results obtained a sustainable business model is being framed. Data was analysed using frequency distribution, descriptives, chi square, T-test and Garret Ranking method. Findings include; manufacturers are highly aware of ESG goals with their major implementation of sustainable practices in post-production phases. They look forward for more of collaboration with stakeholders to carry forward with their sustainable vision.

Keywords: Global Economies, Sustainable Business, ESG Goals, Circular Economy, Fast and Ultra-Fast Fashion.

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