Global management consulting firm Kearney released the 2023 Circular Fashion Index (CFX), its third study measuring the global fashion industry's progress toward circularity and sustainability. Based on proprietary analysis, the CFX acts as an objective tool helping companies understand where they rank in their sustainability practices and which circularity levers remain to be pulled. Notwithstanding the Fashion Pact launched at the G7 Summit in France in 2019, the industry remains one of the highest global polluters hence the value of measuring progress. Kearney's 2023 CFX finds that the needle has barely moved since last year's report, with the 200 global brands analyzed barely reaching an average of 2.97 on a circularity scale of 10. A recent Kearney Consumer Institute (KCI) survey of consumers in Italy, France, and the United States shows a lack of education on sustainability when it comes to buying and disposing of fashion products. Almost half of respondents could not say whether virgin materials are better or worse than recycled/ upcycled ones, and 30 to 40 percent either weren't aware they could return clothes for recycling/upcycling or didn't know how to do it. No surprise then that most consumers would rather donate clothes or share them with friends and family. In the best scenario those clothes are used again, but more often they end up in a closet until it's time for the next donation. Even the secondhand resale market is not developed as much as it could be.
Similar to post-consumer products, preconsumer products (unsold stock) and textiles (scraps) also aren't making their way back into the circular supply chain to the extent they should-again no surprise given that there are numerous barriers, in terms of infrastructure and technology, to overcome.
Underdeveloped Infrastructure
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Alia Bhatt's Ed-a-Mamma expands offline with first store at Jio World Drive, Mumbai
Ed-a-Mamma, Ed the eco-conscious clothing brand founded by Alia Bhatt, has launched its first standalone store at Jio World Drive in Mumbai. The brand specialises in sustainable kids and maternity wear, aiming to promote responsible fashion choices among families.
Foot Locker comes to India with Metro Brands Ltd, launches first store at Select City Walk
Foot Locker inaugurated its omnichannel launch in India on October 19th with Metro Brands Ltd managing physical stores and Nykaa Fashion overseeing its e-commerce operations.
Timex Group India Ltd reports record-breaking quarter, surges 37% in revenue
Timex Group India Ltd has recorded its most successful quarter to date. With the company marking its 170th year, TGIL reported an all-time high revenue of Rs 172 crore for Q2 FY25.
Honasa Consumer Ltd. names Dr.Kaustav Guha as Vice President of R&D
Hana onasa Consumer Limited has Lannounced the appointment of Dr. Kaustav Guha as Vice President of Research & Development. In this role, Dr. Guha will enhance the company's R&D capabilities and drive product innovation across Honasa's portfolio, which includes brands like Mamaearth, The Derma Co., Aqualogica, Bblunt, and Dr. Sheth's.
TechnoSport expands retail footprint with largest store in Tiruppur
Active sportswear manufacturer, TechnoSport launched its largest retail store in Tiruppur, marking a step forward in its expansion strategy across India. This store, spanning 1,500 square feet, aims to meet the rising demand in Tiruppur and surrounding areas.
Cantabil expands nationwide with 13 new stores
Cantabil antabil Retail India Ltd. has announced the opening of 13 new stores in October, increasing its store count to 569 across India. This expansion adds locations in cities such as Zirakpur, Dehradun, Pilibhit, Pune, Jaipur, Jodhpur, Lucknow, Prayagraj, Vadodara, Aurangabad, and Sagar.
IFF Sustainability Conclave: Rishi Suri on How LYCRAⓇ XTRA LIFE™ Improves Garment Lifespan
In a presentation by Rishi Suri, Business Development Director (South Asia), The LYCRA Company, the audience was treated to insights on 'Embracing Durability with LYCRA® XTRALIFE. The presentation highlighted innovations contributing to sustainable fashion practices... In a presentation by Rishi Suri, Business Development Director (South Asia), The LYCRA Company, the audience was treated to insights on 'Embracing Durability with LYCRA® XTRALIFE. The presentation highlighted innovations contributing to sustainable fashion practices...
Duke Fashions (India) Ltd.
Founded in 1966 by Komal Kumar Jain, Duke Fashions has established itself as a pioneering brand in the Indian apparel and footwear industry.
THE INDIAN DENIM MARKET IN 2024: An Analytical Overview
The Indian denim market is poised for significant growth, with a projected compound annual growth rate (CAGR) of 15% from FY2023 to FY2028. By FY2028, the market size is expected to reach USD 7.82 billion...
Orry x Flying Machine capsule collection launches in Bengaluru
Apparel brand Flying Machine has launched its limited-edition Orry x Flying Machine capsule collection in Bengaluru after a successful debut in Delhi.
