Boohoo, Asos & Missguided pave the way for

'Ultrafast Fashion'
Vivian Hendriksz
| 
Wednesday, 24 May 2017

London - The rise of the fast fashion model is said to have transformed the
fashion industry and the way we perceive and consumer fashion. Amancio
Ortega, otherwise known as the man behind the runaway fashion success
retail story Zara, is said to have been the one to bring the business model
into mainstream fashion, which has since been picked up by a number of
fast fashion players, ranging from H&M to Forever 21 and Primark. The fast
fashion business model was originally developed to rapidly respond to
latest trends and deliver them to consumers in store within a matter of
weeks.

But a new generation of young fashion retailers has seen the emergence of
an ever faster model, turning fast fashion into ‘ultrafast fashion.’ These
fashion retailers, which include the likes of Asos, Boohoo and Missguided,
are said to have the shortest and leanest supply chain cycles. Their rapid
turnover of new products sees them featuring new items every one to two
weeks, tapping directly into consumers’ growing demand for immediacy. In
turn is said to drive their swift sales growth and success and sees them
leaving fashion retailers like Zara and H&M in the dust, according to a new
report from Fung Global Retail & Technology.

These fashion retailers have been able to tightly streamline their supply
chains and move production closer to their key markets, making it easier
for them to speed up their design and manufacturing process. In part, this
is due to the digital revolution, which makes it easier for designers to find
and share inspiration and designs with manufacturers. According to the
report, Boohoo, Asos and Missguided are able to produce fashion products
in as little to one to four weeks, in comparison to the five weeks it takes
Zara and H&M on average to create new products and the six to nine-
month cycle most traditional fashion retailers follow.

Ultrafast fashion retailers are able to avoid traditional retailers issues such
as product shortages and excessive inventory by basing large quantities of
production closer to their headquarters and main customer markets. This
way they are able to balance undersupply and markdowns. Ultrafast fashion
retailers make designs in small batches to test demand and if items prove to
be successful, they can quickly be reproduced. This is why smaller utlrafast
fashion retailers like Missguided have become so popular. Launching 1,000
new products each month, Missguided updates its site once a day with new
stock. If a popular fashion trend does arise, then the fashion retailer aims to
have it available for sale in under a week.

https://fashionunited.uk/news/fashion/boohoo-asos-missguided-pave-the-way-for-ultrafast-
fashion/2017052424625