Vestiaire Collective launched the 2024 Circularity Report on the Earth Day, which proves that neither people, nor planet can afford fast fashion any more. In collaboration with Vaayu, Vestiaire Collective delves deep into consumer behaviour, analysing responses from 13,400 participants, and reveals it’s a false notion that fast fashion is more affordable.
According to the survey, fast fashion items are worn less, held for shorter periods of time, and have lower resale prices than other types of clothes.
It introduces the concept of “cost-per-wear,” which is calculated by deducting an item’s resale value from its purchase price and dividing by the number of times it is used. According to the analysis, pre-owned clothing from Vestiaire Collective is 33% cheaper in the long run than brand-new fast fashion items.
An alarming 60% of garments from fast fashion brands are discarded within just a year after purchase due to its short lifespan, which significantly contributes to the global issue of textile waste. Every year, the fashion industry is responsible for dumping 92 million tons of textiles, with a considerable portion originating from Europe.
For example, the European Environment Agency estimates that every second, the equivalent of one garbage truck full of clothes is either burned or buried in a landfill across the continent. This persistent disposal pattern not only strains waste management systems but also exacerbates environmental problems, as many of these materials are non-biodegradable and can linger in landfills for up to 200 years.
Moreover, in major cities like New York, approximately 6% of the entire waste stream consists solely of textiles, underscoring the urgent need for sustainable fashion practices globally.
Moreover, in major cities like New York, approximately 6% of the entire waste stream consists solely of textiles, underscoring the urgent need for sustainable fashion practices globally.
Just as the president and co-founder of Vestiaire Collective said: In today’s climate of inflation, it is obvious: neither people nor planet can afford fast fashion. This report sounds the alarm on fast fashion’s devastating impact, and should be a wake-up call to all to end overconsumption and overspending.
Read the report here
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