Fast fashion is only getting faster as Asos & Boohoo outpace industry front-runners, Zara and H&M, moving clothes from concept to sales floor in less than four weeks. These up and comers’ fast paced supply chains, coupled with millennial-minded tactics and strong social media presences, are driving a 30-35% expected sales growth for Asos and 50% for Boohoo. A major contributor to Boohoo’s profit margin is its army of celebrities, bloggers, and other influencers who promote its clothing across Instagram. Zara and H&M, meanwhile, saw slowing YOY sales growth; H&M has admitted its need to speed up and announced plans to change its supply chain accordingly. (Quartz, The Guardian)
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