Kearney’s 2023 CFX report’s conclusions highlight the pressing need for increased environmental responsibility within the fashion industry. According to the study, which is currently in its third edition, fashion companies may use it as an unbiased benchmarking tool to evaluate their sustainable practises and pinpoint areas for improvement.
The average CFX score for the 200 worldwide brands examined has remained below three (2.97) on a circularity scale that ranges from one to ten, according to Kearney, despite the Fashion Pact initiative’s inception in 2019.
“Consistent with our 2022 results, brands are not extensively activating any of the seven circularity levers; rather, all are operating in the 2 per cent to 6 per cent range,” explained report co-author and Kearney partner Brian Ehrig.
The report also emphasises how poorly informed customers are about sustainable fashion options, according to a recent study by the Kearney Consumer Institute (KCI) of consumers in the United States, France, and Italy.
The co-author and principal of Kearney, Dario Minutell, emphasised his concern about the industry’s general inaction on sustainability efforts.
“Brands are still showing low scores across geographies and market segments. Only 19 of the 200 global brands we looked at scored above five out of 10, and only the top three scored above seven in any area,” he said.
In six categories last year, including luxury, premium and affordable luxury, mass market, fast fashion, sports, outdoor lingerie and pants, 150 global brands from 20 countries were evaluated. Patagonia, The North Face and Levi Strauss & Co. topped the list of the most circular fashion brands.
