European e-tailer Zalando has taken a major step forward in driving a more sustainability-focused retail sector post-pandemic, making sustainability assessment mandatory for its private labels and partner brands.
H&M is continuing to focus on its sustainability credentials with news that it’s launching a new collab swimwear collection and that it has topped a key ranking from the global non-profit Textile Exchange.
Adidas and Allbirds are partnering “to push the boundaries of sustainability by setting out to accomplish something that has never been done before: a sports performance shoe with the lowest carbon footprint”.
Japanese casual clothing chain Uniqlo, owned by Fast Retailing, said it plans to sell face masks made of fabric used for its Airism underwear line in response to strong demand for protective gear for the coronavirus.
Bernard Arnault, Europe’s richest man, has acquired a one-quarter stake in Arnaud Lagardère’s holding company, in a move that will be seen as an attempt to support the family of his fellow French billionaire.
After being forced to halt production for weeks, the luxury industry's supply chain is slowly restarting in Italy and France. The system has been battered by the Covid-19 pandemic, with many sub-contractors struggling.
H&M is focusing heavily on materials with the announcement of “new fabric technology that helps men stay cool”. It’s also launching a new dress offer next month made from “recycled and sustainably-sourced materials”.
Farfetch saw its revenue almost doubling in the first quarter as lockdowns meant online was the only option for luxury fashion shoppers. The firm remains loss-making but says it's still on target for profits next year.
A study by McKinsey has outlined the possible scenarios for the industry's return to normalcy, hampered by the concern felt by consumers for their income levels, putting apparel consumption low on their priority list.