Customers demand sustainably sourced items and H&M supplies
‘The Billion Dollar Collection’, launched today by the non-profit H&M Foundation, presents ten innovative sustainable start-ups, that could change the fashion industry.
Showcased as garments in a virtual fashion collection, each start-up features a price tag, reflecting the estimated support each company believes they need to achieve scale for their disruptive innovations.
The fashion industry lacks sustainability in many areas, from the volume of water used, to accusations of human slavery in factories, to the level of greenhouse gasses produced by synthetic fibers. H&M is out to change this, without compromising on style.
Customers want sustainable fashion and the fashion industry is keen to meet demand
The H&M Foundation has supported early-stage innovation since 2015 through the Global Change Award, recognising ideas that can make the fashion industry circular.
With over 20,000 entries since its inception, this innovation challenge shows innovators are ready to transform the fashion industry. More than ever, customers are demanding sustainable fashion and companies are transforming to meet this requirement.
Yet many start-ups struggle to receive the necessary support to bring their ideas to the scale required to truly change the fashion industry beyond capsule collections and pilots.
Billions of dollars are needed to change the fashion industry and the virtual ‘Billion Dollar Collection’ highlights 10 previous Global Change Award winners with potential to create value, with the fashion industry’s support.
“With this campaign we want to create awareness of the impact sustainable innovation can achieve if given the opportunity to grow”, Diana Amini, Global Manager of the H&M Foundation. “Together, we can create a shift in the fashion industry where sustainability and innovation are implemented as default practice. The time is now.”
H&M aiming for the UN Sustainable Development Goals
The ten innovations selected for this collection of evolved casual classics come from across the globe and encompass elements from materials to traceability.
The collection has been exclusively created in computer-generated imagery by Mackevision, part of Accenture Interactive. Using the latest CGI character design technology, Mackevision created a unique digital avatar from scratch, which brings the textures and intricate details of the collection to life through movement.
Accenture also brought its 360-degree value approach to the collection with the 2030 UN Sustainable Development Goals in mind. The model shows each innovation could have a big, positive impact for the planet, if given the opportunity to scale.
“The Billion Dollar Collection presents a unique opportunity to help the fashion industry reinvent itself through sustainable innovations that can fuel future growth and bring positive change,” said Jill Standish, senior managing director and global retail industry group lead at Accenture.