Fashion brands are driving the next evolution of the wearable market. Currently one in five adults wears a smart watch or fitness band and by 2020, the wearable tech market is expected to be worth 30 billion euros globally. Technology is no stranger to fashion. Wearable tech is increasingly claiming its place in fashion. Fashion and technology both act as extensions of oneself. It’s a promising way for brands to enter a new market and reach new, connected and digitally native customers. For technology providers, the challenge is making processes as smooth and unobtrusive as possible to empower fashion brands to design wearables that first and foremost look like high-end accessories. Consumers of wearable tech seek the minimal and seamless.
Over the last couple of years, the focus on sustainability in the textile and clothing industry has significantly raised. Companies in the textile and fashion industry have a complex and fragmented value chain and each step is influenced by specific sustainability measures with regard to the use of resources (energy, water, sustainable consumption). The Textile and Fashion industry is used to act in an ecosystem approach to counter unpredictable circumstances with many collaborating stakeholders. An ecosystem approach provides the right governance model to offer flexibility and speed, while enabling collaboration and innovation.