Korea’s Lotte ranked as most sustainable retail company by Robecosam
Korean/Japanese conglomerate Lotte, owner of more than 60 businesses including Lotte department stores, has been named the top retail company in corporate sustainability by Robecosam’s Annual Sustainability Yearbook.
The index analyzes more than 3,000 companies and ranks them according to their financial, environmental and social performances, awarding them with a gold, silver or bronze class. This year, Lotte took the top spot in the retailing category followed by Spanish fashion group Inditex, which was granted a silver status.
The bronze class was awarded to South African company Woolworths, while H&M and British businesses Home Retail, Kingfisher and Marks & Spencer were highlighted for their sustainability indicators.
The report also revealed that the retail industry is continuing its shift toward multinational conglomerates with global supply and distribution networks focused on increasingly sophisticated marketing strategies.
“Brand management is a key success factor, while successful retailers also need to continue to develop new strategies and technologies to retain and analyze customers’ purchasing habits, as well as implement more responsive and tailored customer relationship management systems,” it stated.
Faced with continues scrutiny from their stakeholders, retailers are increasingly faced with the need to improve the efficiency and safety of their supply chain management, as well as the use and disposal of plastic packaging. Companies in the retail business must establish long-term relationships with suppliers to provide enhanced transparency, it concluded.
Copyright © 2023 FashionNetwork.com All rights reserved.