I would add environmental friendliness - more creativity in supply chains so more local materials used. Fashion will always exist and by itself shouldnt be considered wasteful - think deeply about other cultures relationship to it.
Google around for Adam Minters book secondhand on how the rag industry is one of the largest.
I see an obsession with local but would they actually be more environmentally friendly? Specialized higher yield locales are more efficenct for land usage. Efficencies of scale and more optimal environments and container ships of scale as well.
Aside from that more stringent local environmental regulations are the only advantage I can see mattering.
I assume local food is more well-studied than local fashion, and may have similar environmental cost profiles. This study: http://www.iufn.org/wp-content/uploads/2013/08/Making-local-... found that transportation is actually less important than other factors.
On the other hand, local food has other important advantages: resiliency (perhaps less important for clothing), and supporting the local economy.
Google around for Adam Minters book secondhand on how the rag industry is one of the largest.