AMSTERDAM – A new report published today by Dutch sustainability initiative Fashion for Good (FFG) and Boston Consulting Group (BCG) estimates that US$20-US$30 billion is required to mobilise the scaling of technological innovations within the fashion industry.
The new report, Financing the Transformation in the Fashion Industry: Unlocking Investment to Scale, has been in development for two years with a team of experts contemplating what they believe to be a sufficient sum of investment capable of radically transforming the industry into one which capitalises on the plethora of available solutions.
“While the first steps have been taken, fashion needs to embrace and accelerate innovation to future-proof the industry,” says BCG’s managing director, Sebastian Boger. “Doing so opens up major untapped returns for those who can capitalise on the upcoming technological disruption.”
