Coinciding with Sustainability week, the past week has bought exciting developments in sustainable fashion, marking a collective effort towards a more eco-conscious and circular industry.
The sustainable fashion landscape has been marked by technological advancements, and a growing emphasis on accountability. Here's a recap of what went on:
1) H&M Group and Vargas Holding Unveil Syre:
With the spotlight on Renewcell - Swedish Textile Recycling company-making their product Circulose out of 100% textiles waste to replace high impact raw materials like. H&M Group are following suit, joining forces with Vargas Holding to introduce Syre, an initiative committed to purchasing $600 million worth of recycled polyester over the next seven years. This collaboration emphasises scaling up textile-to-textile recycling of polyester, a crucial step towards achieving sustainability goals
Similar companies like Infinited Fiber Company gained a €40 million investment from leading brands like Zara's parent company Inditex, H&M, and UNIQLO, highlighting the industry's support for sustainable innovations.
2) Gap's Commitment to Ambercycle's Recycled Polyester:
Gap has made a significant commitment by pledging to incorporate Ambercycle's recycled polyester, taken from from end-of-life textiles, into its Athletica branded performance apparel by 2026. This move reflects Gap's dedication to embracing circular practices.
France is one step closer to taxing fast Fashion
3) France's Sustainable strides
As the curtain closes on Paris Fashion Week, the French government advanced a step closer to imposing penalties on fast fashion producers. Proposed on Monday by parliament ministers, a new bill suggests fines of up to 10 euros or 50 percent of the selling price of garments for major players like Shein, aiming to counterbalance their environmental impact.
Fashion Accountability Report 2024 Highlights Urgent Need for Action
4) The 'Fashion Accountability Report 2024'
Remake.world evaluates the performance of 52 large fashion companies across six key areas. Shockingly, the average accountability score was a mere 14 out of 150 points, highlighting the demand for brands, including Fast Retailing, H&M, Inditex, Kering, LVMH, and PVH Corp, to accelerate progress on their sustainability promises.
5) EBay UK and British Fashion Council Announce Circular Fashion Innovators Fund Finalists:
In hope of accelerating circular fashion, eBay UK and the British Fashion Council announced the finalists for this year's 'Circular Fashion Innovators Fund.' Congratulations to Swoperz, Give Your Best, Supercycle, Thrifthood UK, LOANHOOD, and FINDS, identified as the ones to watch. This initiative seeks to support and celebrate innovative solutions that contribute to a more sustainable fashion industry within up and coming brands.
This week's top 5 developments underline the collective momentum generated by these actions paints a promising picture for a more eco-conscious and responsible fashion landscape.