Redefining Sustainability and Profit
Have you ever given much thought to the good, fast, cheap rule?
The basis of this rule is that when looking to procure or produce a product or service, it is not possible to prioritise speed, price, and quality at the same time, and in any given scenario, only two out of three are achievable, at the expense of the third.
At THE-CØDED, we believe that we need to start thinking differently.
We have reimagined this rule for the fashion industry using the 3 Ps of People, Planet and Profit.
Now most people will likely tell you that just as with the good, fast, cheap rule, you cannot successfully prioritise all 3 and still operate a successful business. At THE-CØDED, we believe otherwise. And in fact, where businesses do prioritise all 3, that is where the real magic happens.
The secret of this model lies in our ability to carefully reimagine our definitions of both profit and of sustainability.
Let’s talk about sustainability first.
It is our experience that when talking about sustainability, including within the fashion industry, most people (and therefore organisations) focus almost exclusively on the environmental aspects. This means that PEOPLE are not equally considered in the equation.
When it comes to profit, the traditional definition is usually monetary, and business basics 101 teaches that companies are setup and operated with a view to maximising returns to shareholders.
We need to rethink this definition. Can profit also be calculated in other ways? Can profit be about measuring the social good which an organisation does, or about how it does something that can benefit PEOPLE as well as the planet and its shareholders?
Don’t get us wrong. There are many organisations out there with good intentions who are trying to do the right thing. The problem is that the way that most companies are set up does not allow them a great degree of flexibility in the way that they operate.
At THE-CØDED, we believe that true sustainability cannot (and will not) happen without simultaneously focusing on human-sustainability alongside the environmental. It is for this reason that we are putting PEOPLE in fashion first.
The central premise of THE-CØDED has always been to use our various platforms to become a mouthpiece for great factories, and to celebrate the amazing and talented people who work there, and to ensure their fair and equitable participation in the fashion industry supply chain. We want to tell their stories and share these with the world.
Our ambition is to empower the fashion industry to move progressively towards a more sustainable future. We are doing this by engaging with industry role players to define the moral compass for stakeholders throughout the supply chain, and to guide more sustainable choices and define what is truly sustainable.
Will you Join Us?