Insights into sustainability and circular economy trends in luxury fashion: A LinkedIn topic modelling study

Abstract

The fashion industry plays a pivotal role in societal evolution and economic growth, yet it also stands as a significant contributor to environmental degradation. In response, the concept of slow fashion has been gaining increased attention in recent years, offering sustainable and circular alternatives to fast fashion. Luxury fashion, traditionally known for its heritage, exclusivity, and craftsmanship, exhibits elements similar to slow fashion, thereby exerting considerable influence on industry trends and consumer behaviour. This study explores the drivers shaping the luxury fashion landscape and the evolving circular economy and sustainability trends within the UK, a key global influencer in the luxury fashion domain. Luxury fashion's impact extends beyond its niche market, often setting benchmarks for innovation and sustainable practices that influence the broader fashion industry. Leveraging readily available qualitative and quantitative data from LinkedIn profiles, this research employs Latent Dirichlet Allocation analysis to uncover relevant topics within a dataset comprising 1115 companies registered in the “Apparel and Fashion” and “Textiles” industries. Five key drivers emerge, including Artful Creations in Fashion, Time-Honoured Craftsmanship, The Art of Style and Design, The Pinnacle of Retail Excellence, and A Personalised Style Experience. Additionally, utilising the Google Collab Platform and Python language, this study identifies circular economy and sustainability trends within luxury fashion. While approximately 20% of the companies studied actively emphasise sustainability, circular economy requires comparable attention. This research provides industry stakeholders and scholars with valuable insights into sustainable and circular practices, thus guiding innovation and informed decision-making in the fashion industry.