The global fashion landscape is witnessing significant changes as the newly formed BRICS International Fashion Federation (BRICS IFF) aims to support emerging markets within the fashion industry. Launched during the second edition of the BRICS+ Fashion Summit held in Moscow from October 3-5, 2024, this federation is set to encourage cross-border collaborations among fashion leaders across diverse regions.
The summit attracted executives from various international fashion week events, representing countries such as Algeria, Cambodia, Ghana, Panama, and Zambia. The presence of over 100 delegates underscores an acknowledgment of the fashion industry’s growing influence in emerging markets and the necessity for a unified platform. Sunil Sethi, Chairman of the Fashion Design Council of India and a signatory of the federation’s memorandum, articulated the challenges faced by fashion brands, stating, “Fashion brands, designers and markets face common challenges…that can be more effectively addressed through collective action.” This sentiment reflects the urgent need for these markets to amplify their voices on a global stage.
The BRICS bloc itself comprises Brazil, Russia, India, China, and South Africa, and has seen recent expansions to include Iran, Egypt, Ethiopia, the United Arab Emirates, and others. Such diversity provides a fertile ground for unique fashion expressions that cater to local traditions while finding pathways into larger markets. An aspect of this summit was its alignment with Moscow Fashion Week, which showcased over two dozen runway shows featuring local designers alongside international brands, indicating a commitment to making Moscow a key player in the global fashion industry.
While the war in Ukraine has largely isolated Russian fashion from Western counterparts, the summit highlights an important pivot towards opportunities in Asia, Africa, and Latin America. Events like this foster connections that can lead to collaborative ventures, sharing of best practices, and ultimately expanding market reach. For instance, local brand Gapanovich presented its collection on the runway, showcasing how regional talent can shine through global collaborations.
The summit revealed emerging patterns and economic ties that reflect the dynamic nature of fashion as a global business. As fashion brands increasingly look to alternative markets for growth, the formation of the BRICS IFF represents a strategic move to consolidate resources, share knowledge, and foster innovation.
In addition to this development, various ongoing global trends were highlighted at the summit, including the subdued Golden Week in China, a week where consumer spending typically spikes. Reports indicated that while domestic traffic numbers are expected to rise marginally this year, the average expenditure per traveler has decreased. This trend may signal cautious consumer sentiment amidst economic uncertainties, which overseas retailers must account for when planning marketing campaigns aimed at the returning Chinese market.
In Japan, Wacoal Holdings, a major lingerie brand, is making waves by acquiring the UK-based Bravissimo Group. This acquisition not only allows Wacoal to expand but also emphasizes the increasing demand for niche markets within the lingerie sector. By leveraging Bravissimo’s established presence and customer base, Wacoal is poised to enhance its global footprint in a region where intimate apparel trends frequently emerge.
Australian apparel group Mosaic Brands is also restructuring its operations, opting to concentrate on core growth brands while discontinuing underperforming names such as Rockmans and BeMe. This consolidation appears aligned with prevailing trends among fashion retailers seeking efficiency and profitability amidst fierce global competition.
Retail dynamics are shifting significantly as highlighted by Central Group’s $460 million investment plan outside of Bangkok. The company’s strategy to expand retail properties in provinces reinforces a growing trend where urban fashion retailers are recognizing the potential within less saturated markets.
Challenges such as labor rights in Cambodia have also come to the forefront, with the American Apparel & Footwear Association (AAFA) expressing concerns over government actions toward labor rights groups. Such issues underscore the ongoing dialogue around ethical production practices within the fashion supply chain, a conversation that is drawing more attention as consumers increasingly demand transparency.
While the BRICS IFF seeks to harness collective efforts for fashion advancement, independent efforts from various regions are also critical in the dialogue of global fashion evolution. Indian couturier Vaishali S, for instance, opened her first boutique in Paris, aiming to provide a platform for Indian textiles and crafts, thereby presenting a counter-narrative to the broader industry trends dictated by fast fashion.
The formation of the BRICS International Fashion Federation at this juncture may pave the way for future developments in global markets. By combining resources and expertise, member nations could effectively raise their profiles in the competitive world of fashion.
The BRICS IFF not only represents a concerted effort to address common challenges faced by emerging fashion markets but also serves as a reminder of the potential within diverse cultural narratives in shaping the future of global fashion.
