Circular fashion market is potentially worth $5 trillion

According to recent estimates by the Circular Fashion Report, signed among others by PWC agencies, Anthesis, law firm Rödl & Partner, universities ESSEC Business School and Wageningen University and blockchain provider Lablaco, circular fashion has a potential turnover of around five trillion dollars – or five thousand billion. A very encouraging sign for a movement that is gradually taking hold in the field of luxury fashion and that is directing brands towards increasingly massive reuse and recycling of their waste materials. 

According to the report, the right way to go has the product at its centre and not the consumer and is based on the digitization of numerous processes along the entire supply chain – especially with regard to the tracking of raw materials. In addition, the report shows clearly which new markets fashion is expanding in: virtual fitting rooms are now worth six billion dollars; that of 3D prints, 16 billion and that of eco-fibers and the secondary fashion market, 40 billion each. 

Circular fashion is a relatively unexplored sector in its entire scope and is perhaps, to date, the most interesting (as well as important) for investments and technological developments. In addition, fashion brands are driven to reduce polluting emissions from an increasingly wide range of young consumers for whom the ethical standards of the brand are not secondary to aesthetic ones.