 Good evening. The dress I'm wearing was made by a New Zealand company that is part of a worldwide movement that is currently shaking up the fashion industry. The so-called slow fashion movement. My research focuses on this movement. Some of you might have made purchases in the past that you regret it, because you purchased something that you actually didn't really need. Maybe like this lady behind me, you might see yourself in her or know someone like her. We are seemingly caught in this vicious cycle where we buy too many unnecessary goods. Big fast fashion companies have made clothing so affordable that we consumers believe that when we spend five dollars on a t-shirt that we save money. But we are overlooking the real cost of making clothes. Fast fashion companies externalize these costs by shifting production to low-cost countries and putting downward pressure on working conditions and environmental standards. Take the example of Rana Plaza in 2013, where a garment factory collapsed and killed more than 1,000 people in Bangladesh. In contrast, slow fashion focuses on slowing down consumption and production, encouraging consumers to buy less and more selectively. My research is based on the anti-consumption literature, which currently only focuses on the consumer's voluntary purchase reduction, not how firms may use anti-consumption as a strategy. I am exploring how firms make money by asking consumers to buy less. A predominant example in my research was Patagonia, an outdoor clothing retailer from the United States that ran an advertisement on Black Friday, the biggest shopping day in the United States, stating, don't buy this jacket. Now, most businesses seek to increase profits by selling more, right? Why would the profit-seeking business ask consumers to not buy? I interviewed 50 slow fashion companies from around the world. These businesses invite consumers to rethink their purchasing behavior and consume more consciously. The business owners' social and environmental values were strongly visible in the company's strategy, focusing on reducing over-consumption, manufacturing practices and choice of raw materials. These businesses differentiated themselves from fast fashion. My research shows that these businesses are very successful and profitable within their niche. Even fast fashion giants like Sara have adopted a slow fashion line, demonstrating that this niche is gaining momentum. So, companies that don't follow the herd but have a purpose that goes beyond profits will thrive. Thank you.