WEBVTT

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<v ->With its short operating timeline,</v>

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the fashion industry is a sector

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where resilience has always been important.

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It's known for its ability

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to constantly respond to new trends.

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That being the case, the COVID crisis tested the industry

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in ways it never has before,

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and the industry's response

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provides lessons for others to learn from.

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(bright music)

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Fashion trends are moving faster than ever.

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Designs seen on the catwalk this week

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are expected to be on the sidewalk next week.

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And consumers tend to reward the companies that keep up.

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Additionally, we're seeing the industry accelerate

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the evolution of its supply chain,

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moving towards demand chain.

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It's a more customer-centric setup

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that is data-driven, digitally super-fueled, and AI powered.

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And it also moves key elements of production

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closer to consumers.

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That means, the big shift is going from

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the traditional agility within the structure,

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to an overall agile supply chain.

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This idea was tested during the COVID-19 downturn,

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when the industry learned even more about the value

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of having the average supply chain.

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The focus became producing the evergreen basics,

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while having the flexibility to quickly adapt

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other parts of the assortment to current demand.

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The world economy, post-pandemic and beyond,

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will require supply chains

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that are more impervious to disruption

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and flexible enough

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to capture new sources of competitive advantage.

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The takeaway is,

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that the more agile and resilient the supply chain,

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the more the industry can weather economic cycles

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while still growing and operating globally.

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And this is definitely a fashion trend worth following.

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(bright music)