These agreements are legally binding contracts that can be maintained in court, so that trademarks cannot make commitments for which no one is responsible. They are voluntary insofar as clothing brands decide individually instead of submitting to a legal registration requirement. These agreements create legal obligations and, if violated, can end up in courtrooms. WIPO Center provides procedural advice and case management to help parties resolve fashion disputes without the need for legal action. Sheng Lu: In the 2015 USFIA comparative study, about one-third of respondents said they sourced from 6 to 10 different countries and another third from 11 to 20 different countries. What are the reasons why American fashion companies would now choose such a diverse sourcing base? The alternative we are advocating is binding agreements that address the causes of the major problems. The promises contained in these documents are legally binding, contrary to the many sublime words that brands assemble to build the wave of “sustainable” consumption. Once the dust settles in the immediate crisis, fashion will be exposed to a market in recession and an industrial landscape still changing. The exhibition unpacks five areas that could see significant changes; The full report examines these areas in greater depth. We expect a recovery period to be marked by continued spending declines and lower demand across all channels. As we first mentioned in our previous articles on “awakening,” radical transparency and sustainability, consumer mentality showed signs of shifting in some directions even before the pandemic. The WIPO Centre has partnered with fashion stakeholders to focus on how to make effective alternative conflict resolution (ADR) procedures available to prioritize time- and cost-effective dispute resolution, while preserving trade relations in this sector.
COVID-19 could stimulate the biggest economic contraction since the Second World War and affect all sectors, from finance to the hotel and restaurant sector. 6 6. “Head of the UN says coronavirus the worst global crisis since World War II,” France 24, April 1, 2020, france24.com. Yet fashion is particularly vulnerable because of its discreet nature. The average market capitalisation of apparel, fashion and luxury players fell by almost 40% between the beginning of January and 24 March 2020. McKinsey analysis based on data from S-P Capital IQ. – a much sharper decline than that of the stock market as a whole. Yet there are silver stripes under the clouds. While the crisis is having a devastating impact on businesses and employment, it can also have accelerated responses that can yield positive results. Indeed, during the crisis, many fashion companies took the time to reorganize their business models, streamline their activities and improve their customer offerings.
Samantha Sault: I`ve always loved fashion – in fact, my very first job in high school was to fold clothes and work at Abercrombie Kids at the mall in my hometown! – but I never thought of fashion as a career until I worked a few years after university.