If anybody needed confirmation of how important fashion resale has become, it came on Monday with the announcement by France’s Vestiaire Collective of a new €178m financing round backed by Kering, among others.
French luxury goods group Kering is looking at possible mergers and acquisitions seriously, but M&A is not indispensable for its future growth, Chairman and Chief Executive Francois-Henri Pinault said on Wednesday.
Top luxury groups are taking concrete steps to promote ethical fashion, especially in the areas of diversity, inclusivity, environmental and social responsibility, as shown by recent projects by Capri, Prada and Kering.
One brand that appeared to be gathering momentum is the house of Alaïa, which profited from haute couture week in Paris to present its latest ideas, many mined very literally from the house's unique archives.
Co-founded by two retired scientists, Sustainable Composites uses an innovative chemical process to recycle leather into a material that looks, smells and feels identical to the original leather from which it was made.
Fashion for Good has joined forces with textile manufacturer Arvind Limited to launch a two-year pilot project utilise resource-efficient cotton farming technology provided by Materra to reform cotton farming.