Application of Multicriteria Decision-Making Methods in Selecting Sustainable Innovative Startups for the Italian Fashion Company OVS

Abstract

The future of fashion must rely on environmentally, socially, and economically sustainable growth and competitiveness, some criteria that the fast fashion model abandoned decades ago to concentrate on profits and business expansion narrowly. The last decade saw a promising rise in the creation of exclusively ethical and sustainable fashion startups that, using innovative business models and supply chains, aim to disrupt the almost unshakeable fast fashion empire. This thesis focuses on using multicriteria decision-making methods to create a methodology to assist OVS, a well-known Italian fashion brand, in the search for the best innovative and creative startups to partner with. More in detail, the Promethee method is enclosed in a methodology to assess different criteria to evaluate small enterprises, supporting the fashion brand in the decision-making process in selecting the startups that best align with the brand's strategic objectives. This project proposes a methodology by applying traditional and socio-environmental criteria to rank and select startups. The main novelty relies on the fact that these innovative businesses have the common factor of conducting their affairs utilizing a sustainable and ethical business model.