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A report by the Boston Consulting Group and Fashion for Good, presented at the World Economic Forum, which took place in Davos, Switzerland, states that creating a sustainable model for the fashion sector requires an annual investment between 18 and 27 million euro.
Katrin Ley, the Fashion For Good director, presented the study ‘Financing transformation in the fashion industry’, which indicates, on the other hand, that this effort must be maintained until 2030.
“The problem is that there is still a technological void,” said Sebastian Boger, a partner at the Boston Consulting, who also highlighted the problems at both ends of the value chain: the availability of sustainable raw materials and solutions for recycling at the end of the chain.
The summit of the World Economic Forum had on the agenda issues such as consumption, industry, the value chain, transparency, energy and, above all, sustainability.