Full Title (English)
Textile and Garment Magazine
Subtitle
списание Текстил и облекло
Imprint
Textile and Garment Magazine
Publisher
SEUTGL
ISSN
1310-912X (Printed Journal)
2603-302X (Online Journal)
Journal Volume Number
10
Journal Issue Number
10
Journal Issue Designation
proceedings
Journal Issue Date(YYYY/MM/DD)
2020/10/31
Full Title (English)
UNDERSTANDING FAST FASHION AS-A-SERVICE BUSINESS MODEL
Subtitle
UNDERSTANDING FAST FASHION AS-A-SERVICE BUSINESS MODEL
By (author)
Affiliation
1 Ivelin RAHNEV 2 International Business School, Botevgrad, Bulgaria, Associate Professor
Affiliation
E. Miroglio EAD, Sliven, Bulgaria, Associate Professor
ORCID
https://orcid.org/0000-0003-4328-9871
Number of Pages
1
First Page
298
Last Page
298
Language of text
English
Publication Date
2020/10/31
Main description (English)
Fast fashion has changed the industry and the economy. Implemented through a business model that encourages buying and buying more fashionable clothes at affordable prices, the fast fashion faces numerous challenges. The model is perceived of being unsustainable, at least due to water pollution and waste generation because of the short cycle of use of otherwise fashionable clothes. In order to increase value added under competitive pressure and growing demands for environmental protection, new business models are being born. The study aims to provide a critical look at the fast fashion as-a-service business model and stressed the need to developing a new business and consumer culture for. The purpose of the approach is twofold. On the one hand, to achieve improvements in customer relationship as consumer become more aware and conscious when buying clothes, so the excess asset does not become garbage, while the consumer remains loyal to the brand in the long term. On the other hand, the manufacturer should be responsible for the entire life cycle of his product from production to its transformation into an unnecessary asset for the end user. The as-a-service model is different from any other technological trend that seeks to disrupt established models. The trends are the global market of everything-as-a-service to grow as it is strongly impacted by digitalisation of economic, industrial and social life while calling for free choice of service, accessibility, flexibility and all this at low cost. Service as a topic in the fashion industry is a new, unexplored, unused, but gaining momentum concept. Assuming to be strongly influenced by the possibility of creating a digital ecosystem by connected actors, fast fashion companies may struggle to create a digital stakeholder ecosystem as part of the as-a-service model, where manufacturers, retailers, consumers, software vendors and decision makers can create and offer services to each other to achieve sustainability. A conceptual model of fast fashion as-a-service business model is introduced and discussed. It requires fast fashion companies to change both their processes, disruptive innovation and their strategic thinking. Areas for future research are outlined. Keywords: services, fast fashion, as-a service, cloud, platforms, sustainability