PARIS — H&M Foundation is presenting a virtual fashion collection drawn up to showcase the work of 10 start-ups plying more sustainable fashion.
The so-called “Billion Dollar Collection” was made with past winners of the foundation’s Global Change Award.
“Together, we can create a shift in the fashion industry where sustainability and innovation are implemented as default practice,” Diana Amini, global manager of the H&M Foundation, said in a statement.
Amini stressed the need for fashion brands and suppliers to support start-ups. “Their biggest hurdle to realize their ideas is funding and support to build scalable technology solutions,” the executive noted.
A digital avatar was created for the project by Mackevision, a computer-generated imagery company that is part of Accenture Interactive.
The playful looks come in a range of colors, mostly pastels, with interactive price tags showing the amount of funds a start-up thinks it needs to reach scale for their idea.
Click on the loose silky tracksuit and find a price tag marked $120 million, and a description of Reverse Resources appears, noting it links supply and demand through tracing and trading leftover textiles.
Accenture also helped the start-ups apply 2030 UN Sustainable Development Goals to the collection.
“The Billion Dollar Collection presents a unique opportunity to help the fashion industry reinvent itself through sustainable innovations that can fuel future growth and bring positive change,” said Jill Standish, who is senior managing director and global retail industry group lead at Accenture.
The H&M Foundation set up its Global Change Award in 2015 to support startups working to help the fashion industry take a more environmental approach. The Billion Dollar Collection is named in a nod to the estimated costs needed to change the industry.
Fashion labels across the spectrum are under increasing pressure from both consumers and investors to offer evidence that they are working to lower the environmental impact of their activities.