Consumer Goods


Top 10 Fast Fashion Companies in 2024

Author : Priyanka | May 15, 2024

Today, people are inclined towards exploring and buying trendy clothing items that are affordable and stylish. This has fueled the fast fashion industry, which focuses on the rapid production of clothing items in mass quantities, enabling clothing designers to smoothly reproduce popular fashion trends and bring the latest fashion styles to the market. Fast fashion brands play a vital role by offering chic and cutting-edge cloth designs, boosting the market demand.

The rising environmental impact and exploitative labor practices due to fast fashion have become major concerns. The novel trends and low production costs in the fashion industry often require the use of synthetic materials and cheap labor, which significantly contribute to carbon emissions and poor working conditions. However, the fast fashion industry is known as a great economic contributor. According to Kings Research, in 2022, the global fast fashion market size was recorded at $93.66 billion and is estimated to hit $167.50 billion by 2030, growing at a CAGR of 7.70% from 2023 to 2030. Due to its prominent share, there is increasing pressure on companies to use natural and sustainable methods and materials in production to mitigate the negative impact on both workers and the environment.

Kings Research Profiles Top 10 Fast Fashion Brands 

Below are ten leading companies in the fast fashion industry that are also adopting sustainable approaches.

1. Authentic Brands Group, LLC

Authentic is the owner of influential brands in fashion, lifestyle, entertainment, and media. Some of the brands it owns include Juicy Couture, Forever 21, Nine West, and Sports Illustrated. In March 2024, Authentic Brands Group partnered with Fast Simon, an Israel-based technology provider of AI-powered shopping optimization tools. The partnership allows the brands to personalize product recommendations and visual discovery for cross-selling and upselling. The company has implemented an Authentic Sustainability Hub to drive sustainable brand innovation and value creation across its portfolio.

2. Cotton On

Cotton On is an Australian fast fashion retailer that offers a wide range of clothing and accessories for men, women, and children. It is known for its affordable prices and trendy designs. Cotton On operates in over 1,500 stores across 18 countries. The company has committed to sustainable sourcing and has implemented initiatives such as reducing water usage, using more sustainable materials, and improving waste management practices.

3. Esprit Holdings

Esprit Holdings is a global fashion brand based in Hong Kong. They design, manufacture, and market clothing, footwear, accessories, and home products. Esprit prioritizes circular fashion by selecting sustainable materials, producing over 65 million pieces in 2020, with over half already made with sustainable materials. It has a Policy on Raw Materials and Animal Welfare, focusing on ethically sourced, recycled materials, and decomposition processes.

4. Future Group

Future Group is an Indian conglomerate that operates in various sectors, including retail. They own and operate several retail chains in India, including Big Bazaar, Central, and Brand Factory. Its two subsidies, such as Future Retail and Brand Factory, offer a wide range of Future Group products, including clothing, electronics, and groceries.

5. H&M Group

H&M Group, one of the largest fast fashion companies in the world, is known for its fast fashion offerings. They operate several brands, including H&M, COS, Monki, Weekday, and & Other Stories. The company is committed to using 100% recycled or sustainably sourced materials and aims to become climate-positive throughout its entire value chain by 2030. H&M also offers a garment collection program, allowing customers to bring in old clothes for recycling. The company has invested in sustainable innovations, such as using recycled ocean plastic in its products.

6. Inditex

Inditex is a well-known Spanish global clothing company and one of the largest fashion retailers across the globe. They own several popular brands, including Zara, Massimo Dutti, Pull & Bear, Bershka, and Stradivarius. Zara, in particular, is known for its fast-fashion approach and ability to quickly respond to changing fashion trends. Inditex aims to achieve zero net emissions and lower its carbon footprint by at least 90% by 2040.

7. New Look

New Look is a British fashion retailer that offers clothing, footwear, and accessories for men, women, and children. They have a wide range of products, from casual wear to formal attire. The company has achieved the Carbon Neutral Gold Standard and UN Climate Neutral Now Participation, becoming net zero carbon for all operations. The company is working to make a positive fast-fashion environmental impact on the planet, starting with its supply chain.

8. River Island

River Island, one of the most known UK-based fast fashion brands, offers a wide range of trendy cloths and accessories. The company has committed to sustainable sourcing and has implemented initiatives such as reducing water usage, using more sustainable materials, and improving waste management practices. River Island also partners with organizations like the Better Cotton Initiative to promote sustainable cotton production.

9. Victoria's Secret

Victoria's Secret (VS) is an American lingerie and beauty retailer. This women-focused brand is known for its stylish and good-quality lingerie collections. VS operates in the United States and has a strong presence globally. It has joined initiatives like the Sustainable Apparel Coalition and has committed to responsible sourcing and production practices.

10. The Gap, Inc.

The Gap, Inc. is a renowned American clothing and accessories retail company. At the Met Gala 2024, it unveiled a custom Gap gown for Oscar® Award-winning actor Da'Vine Joy Randolph, showcasing its igniting creativity in denim gowns. The company also reduces its environmental and social impacts by selecting fibers with lower carbon footprints and supporting biodiversity protection.

Innovations by Fast Fashion Brands to Reduce Carbon Emissions

Fast fashion has a significant environmental impact, with the global apparel industry responsible for 8–10% of total carbon emissions. Innovations like organic fibers, recycled materials, and closed-loop recycling are making production more sustainable. Brands like Nike and Patagonia are adopting renewable energy and energy-efficient practices, while the supply chain improves with green transportation and sustainable packaging. Organic fibers, like organic cotton, eliminate the need for chemical processes, pesticides, and synthetic fertilizers, significantly reducing the carbon footprint. Additionally, closed-loop recycling systems allow manufacturers to transform used clothing back into high-quality fibers, minimizing waste and resource depletion. Apparel factories are also adopting energy-efficient manufacturing techniques and technologies, such as Patagonia's investment in energy-efficient machinery and solar power.

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