The Foundation-led demonstration project, inaugurated during the May 2024 edition of the Global Fashion Summit in Copenhagen, aims to illustrate how enterprises can capitalise on the economic benefits of decoupling revenue generation from new clothing production.
The Foundation anticipates that this venture will confirm that corporate initiatives, in conjunction with robust policy frameworks and enhanced design strategies, will catalyse the proliferation of circular business models, potentially accounting for up to 23% of the worldwide fashion market by 2030.
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Ellen MacArthur Foundation fashion lead Jules Lennon stated: “Brands and retailers joining The Fashion ReModel is a strong signal that industry leaders are ready to take the next step towards a new normal for the fashion industry, with circular business models at its heart.
“While practices including rental, repair, and resale are already firmly on the agenda of businesses across the globe, successfully implementing them has often proved challenging, resulting in them remaining at a small scale.
“Brands must now demonstrate that they can take the next step and embed these models into their core operations, driving change towards an industry where clothes are kept in use for longer and their lives are extended to many more people.”
Participants in this project are set to build a guiding framework for the industry by navigating obstacles and identifying viable approaches to incorporate circular economy principles into their business models.
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By GlobalDataTapestry sustainability vice president Logan Duran said: “At Tapestry, we recognise that the future of fashion lies in evolving the traditional link between growth and new resource consumption.
“Our participation in The Fashion ReModel represents a pivotal moment in our sustainability journey – one where innovation meets responsibility. By quantifying the climate impacts of circularity, we’re not just following industry trends; we’re helping to create the roadmap that others may follow.”
This new group of participants will complement existing members such as Arc’teryx, and Primark. H&M Foundation also agreed to join the Fashion ReModel in February this year.
Additionally, the Foundation disclosed a consortium of domain specialists from fields encompassing finance and supply chains.
Decathlon sustainability director Maeva Lombardo said: “We are delighted to announce our participation in The Fashion ReModel. Joining this project offers a fantastic opportunity to accelerate our business model transformation towards essential circular solutions for the apparel industry.
“Reuse, second life, and repair are central to our sustainability commitment, making this a natural next step in building a more responsible future and it reflects our shared conviction that industry-wide collaboration is essential to transform our practices in service of the planet.”
