UNIQLO founder and chairman Tadashi Yanai — Japan’s wealthiest man — who runs one of the world’s largest apparel retail company Fast Retailing Group said the company has made significant investments in India ahead of the brand’s maiden store launch in the country on Friday.
Sustainability is the fashion industry’s latest trend. Brands, retailers and designers are pledging their hearts to the environment and to protecting their workforces, and yet the industry remains the second largest polluter in the world. The horrendous working conditions and illegally low wages at Boohoo’s factories have not stopped the company’s profits from growing, or consumers wanting their fast fashion.
Inditex starts closing the loop. Zara, the biggest chain of the Spanish giant by revenue, has launched its first line Denim from Denim, of garments created from the cotton extracted from other used jeans.
The company stated that they recycled old garments to subtract cotton and reuse it to create new items. It’s the first collection of the brand using denim waste.
The textile and sustainability manager at The European Confederation of Flax and Hemp (CELC), Marie Demaegdt, has said she welcomes targets fashion group Inditex has set for linen.
Inditex chief executive, Pablo Isla, told shareholders at a meeting in mid-July that, by 2025, 100% of the cotton, polyester and linen that goes into the products of Inditex’s eight brands (including Zara) will need to be organic, more sustainable or recycled.
Spanish fashion retailer Zara has announced that 100 per cent of the cotton, linen and polyester used in its clothing will be more sustainable, organic or recycled by 2025.
Zara's holding group, Inditex – the world's third largest clothing company according to Forbes – made the sustainability pledge at its annual shareholders' meeting on 16 July.
The company stated that it will only use cotton, linen and polyester that is "organic, more sustainable or recycled", as one of a number of sustainable targets for the next six years.
"Sustainability is a never-ending task"
At its AGM today in Spain, Inditex says that by 2025, 100 per cent of the cotton, linen and polyester used by its eight clothing brands will be made from either organic, ‘sustainable’ or recycled fibres.
It also revealed that its ‘Join Life’ labelled garments will account for 25 per cent of the total number of garments that it sells by the same date.
The apparel retailer said that the composition of inventory has improved, implying it will become easier to sell the garments.
Hennes & Mauritz AB surged after the struggling Swedish clothing retailer showed progress coping with a buildup of unsold garments, raising hopes that the worst may be over after a three-year slump in earnings.
Inventory dropped slightly as a proportion of sales, easing to 18.2% at the end of May from a record 18.9% as of last August, H&M said Thursday. CEO Karl-Johan Persson said H&M still aims to boost operating profit this year.
Trent views trendiness as its main advantage over these competitors. To that end, it’s working to make its fast fashion supply chain even faster, said Tata.
For nearly a decade, Tata Group has been Inditex SA’s partner running Zara stores in India. Now, the country’s largest conglomerate is building its own apparel empire as trend-focused as Zara — but at half the price.
Chairman Pablo Isla confirmed the move at a recent Milan store opening. “We want to make our fashion collections available to all our customers, wherever they are in the world, even in those markets which do not currently have our bricks-and-mortar stores." eCommerce is the source of 10% of Inditex’s sales, having grown more than 40% last year. According to data from online marketing data provider SEMrush, the March launch of Zara’s new Australian online store blew up the local retail market. Ad spend went through the roof once the retailers saw the threat from the world's fashion giant.
Secretary Commerce Younus Dagha that the buyers and sourcing agents play an important role in enhancing exports of a country by acting as a bridge between manufacturers and foreign buyers.
