According to this projection, in 2027, the market will be worth no less than 70 billion dollars, or 64 billion euros. And in Europe? Here too, findings and estimates on this market have been formulated and its rapid growth noted. On 17 April, during a presentation at the French Fashion Institute in Paris, the consulting firm Accenture and the Federation of Circular Fashion (a body created in 2022) presented a study on the French market.
“This study enabled us to carry out a qualitative and quantitative analysis that enables us to put a figure on the market on a French scale and to have prospects for development up to 2030 and on a European scale. Within the federation, we have feedback from retail players such as Printemps and Galeries Lafayette, or online players such as Vinted or Vestiaire Collective,” says Maxime Delavallée, president of the federation and co-founder of the company Crushon. While there were already American studies, our ambition was to have an understanding of how the market in France is structured in terms of reuse, repair and recycling issues.”
For the founders of the Federation of Circular Fashion, these three axes are key and should make it possible to fight against “the unbridled increase in the volume of items put on the market each year”. Their objective is to build a model that will make it possible to find an alternative to “the acceleration of the pace of collections and the rise of ultra fast-fashion”. By having figures, the actions on the 3Rs (reuse, repair and recycling) should be more precise and above all, more valuable.
More information: Fashion Network