Innovative Processes in the Fashion Industry and Prospects for Its Development in Russia

Abstract

The presented study examines the major problems in the Russian fashion industry and directions of its development according to the Strategy for the Development of the Light Industry of the Russian Federation until 2025; provides examples of innovative materials and technologies; analyzes the issues of environmental friendliness of textile and clothing manufacturers. Aim . The study aims to substantiate promising directions and trends in the fashion industry with allowance for the specific features of the Russian market. Tasks . The authors characterize the fashion industry as a sector of the modern economy; describe trends in the development of the fashion market in the cultural and historical context; identify current trends in the fashion market; describe the existing innovative solutions in the fashion industry. Methods . This study uses the methods of information analysis and synthesis of new knowledge to describe modern innovative solutions in the fashion industry, implementation mechanisms and advantages of cluster policy. Results . The fashion industry exists in the context of severe competition, economic instability, technological and social changes. This determines the key role of branding, economic efficiency, and compliance with environmental standards in gaining competitive advantages. Conclusions . In the post-quarantine period resulting from the removal of restrictions aimed at preventing the spread of COVID-19, successful operation of fashion industry enterprises would require adherence to the principles of economic efficiency and environmental safety of products, new managerial and technological solutions, and state support for the light industry.