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Global Scans · Beauty & fashion · Weekly Summary


WHAT'S NEXT?: Wearables, 3D printing, sensors and other technological advancements are likely to change the world of perceived beauty and fashion towards more integrative, online services. Find out how body scanners and conductive clothing will help us live better, more healthy lives and the downside risks emanating from those who would seek to interfere with them.

  • [New] To offset the environmental impact of ultra-fast fashion, the MPs propose penalties of up to 10 euros per item sold, or up to 50% of the selling price, by 2030. MarketScreener
  • [New] The spending on jewelry, flowers, clothing, and evening outings is predicted to break previous records, with jewelry alone expected to rake in $6.4 billion. Retailwire
  • Fast fashion may have hit a roadblock: last week French lawmakers unanimously approved a bill to impose increasing penalties on fast fashion products, rising to €10 on each item of clothing by 2030. The Guardian
  • STYLE Bangkok 2024 will play a crucial role in elevating global competitiveness in lifestyle and fashion products, projecting export revenues to surpass 323 billion baht in 2024. Yahoo Finance
  • All of us at the Board of Trade of Thailand and DITP are confident that STYLE Bangkok 2024 will serve Thai entrepreneurs well in negotiating trades with key partners from around the world, adding value to the exports of lifestyle and fashion products, and thereby driving the national economy. Bangkok Post
  • The Seamless scheme, launched by Plibersek in June last year and led by the Australian Fashion Council, aims to have 60% of the clothing industry sign up by 2027 and has so far attracted brands including Big W, Cotton On Group, The Iconic and David Jones. The Sydney Morning Herald
  • Retail shops will be expanded with new shopping brands - including Hublot (luxury Swiss watches) and Shinola (luxury watches, jewelry, premium leather goods). CruiseMapper
  • While fashion and beauty brands often find success on Instagram, tech products could have better engagement on Facebook or LinkedIn. Sprinklr
  • Europe's commitment to fund circular economy research and innovation is a beacon of hope for the fashion industry. European Research Executive Agency
  • Other significant legislation anticipated for 2024 will address toxic plastics, safe drinking water, and hazardous chemicals in cosmetics and personal care products. Safer States
  • One of the Big Three companies, McKinsey's analysis paints a pretty exciting picture: AI has the potential to inject a whopping $ 150-275 billion into the profits of the apparel, fashion, and luxury sectors over the next five years. The Daily Star
  • Although PCPC member companies have long provided more product information than is required by law, MoCRA will further increase transparency as cosmetics manufacturers must now list each product with the FDA, including its ingredients and where it is manufactured. cosmeticsdesign.com
  • 73% of fashion executives expect to prioritise gen AI in 2024, as cited in BoF and McKinsey's State of Fashion 2024, while 62% of fashion businesses already use gen AI in the workplace. The Business of Fashion
  • Gen AI could add $275 billion of economic potential to apparel, fashion and luxury sectors' operating profits. The Business of Fashion
  • Sales of the fashion and connected industries (including textiles, clothing, leather goods, footwear, jewelry, eyewear and cosmetics) are expected to grow 4% to 102.8 billion euros compared to the previous year. WWD
  • While growth in China should remain under pressure due to a lacklustre macro backdrop, investors expect its Consumer Products and Dermatological Beauty divisions to remain healthy. Morningstar UK
  • The recently announced India-Middle East-Europe economic corridor will act as a key enabler that will help Indian gems & jewelry exporters establish new trade relations in the overseas markets. FinancialExpress
  • Major apparel exporters in Asia, such as China and Bangladesh, might assume a less dominant role as a sourcing base for recycled clothing due to their insufficient infrastructure for efficiently sorting used clothing and generating high-quality recycled textile materials. FASH455 Global Apparel & Textile Trade and Sourcing
  • In a 2022 study, Lu found a broad supply base for clothes made from 100% recycled textiles, an industry that could be worth $7.5 billion annually by 2027 and exceed sales of regular new clothing. Vice
  • Global silver demand is expected to rise 1%, pushed higher by the continued strength of industrial end-uses and a recovery in jewelry and silverware demand. The Silver Institute
  • An Instagram post claimed 14 U.S. cities are planning to ban meat, dairy, new clothes and private cars by 2030. @politifact
  • We could find no evidence that any U.S. cities have agreed to ban meat, dairy, new clothes or private cars. @politifact
  • If passed, the New York Fashion Act will require companies doing business in New York with global revenues of more than $100 million to map their supply chains and disclose and subsequently remediate any issues. National Law Review

Last updated: 25 March 2024



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