Edward Hertzman - Who's Got the Power? Addressing the Imbalance Between Suppliers and Fashion Brands

Forget Vogue. Sourcing Journal should be required reading of you really want to know how the business of fashion works. Clare’s guest this week Edward Hertzman founded this trade journal (now part of FairChild, which owns WWD) out of frustration that no one in media was telling the full story about how supply chains operate. A former apparel sourcing agent himself, with a degree in economics, the tough-talking New Yorker tells it like it is.In the garment game, suppliers and manufactures take most of the risks, while brands wield most of the power. “It’s a very one-sided relationship,” he says. Add in unfair purchasing practices (which are way too common) and downward pressure on prices, and you’ve got a recipe for disaster - as we saw during the pandemic. And who do you think has to invest in all these new sustainability initiatives brands are talking up? Often, it’s the manufacturer. Remember what brands always say: “Well, of course we don’t own the factories or the mills …”Can the industry change? Who's doing it right? What does a true partnership - as opposed to a purely transactional relationship - between brands and suppliers look like? And what should we expect to happen this year when the cost of living crunch meets the realities of overstocked warehouses? Because many brands, particularly in the US, says Edward, are sitting on giant piles of unsold stock ...Required listening for anyone working in the fashion sector.Don't forget to check the shownotes for all the links. Find Sourcing Journal here.Enjoying the podcast? We are proudly independent, and rely on our listeners to help us stick around.Can you share the episode on social media, or write us a glowing review in Apple podcasts?Find Clare on Instagram & Twitter. More on www.thewardrobecrisis.com Hosted on Acast. See acast.com/privacy for more information.