Market News
Recent Developments:
New product launches:
- In March 2022, Levi Strauss & Co launched its most sustainable jeans line yet, made with organic cotton and Circulose, a wood-based fiber. The new Levi's jeans line reduces the carbon footprint by up to 17% compared to conventional jeans. Levi Strauss & Co. is an American clothing company known worldwide for its Levi's brand of denim jeans. It was founded in May 1853 when German-Jewish immigrant Levi Strauss moved from Buttenheim, Bavaria, to San Francisco, California, to open a West Coast branch of his brothers' New York dry goods business.
- In January 2022, Adidas partnered with Allbirds to unveil performance running shoes with the lowest carbon footprint. The shoes are made using renewable and natural materials as part of the sportswear brand's sustainability initiatives. Adidas AG is a German athletic apparel and footwear corporation headquartered in Herzogenaurach, Bavaria, Germany. It is the largest sportswear manufacturer in Europe and the second-largest in the world. Allbirds, Inc. is a New Zealand and American company that sells footwear and apparel. The company claims to keep its products as eco-friendly as possible and is a certified B Corporation.
- In November 2021, Kering Luxury Group introduced the first selection of gowns as part of its Chime for Change initiative supporting women empowerment. The collection uses renewable, recycled, organic, and biodegradable fabrics aligned with sustainability goals. Kering is a French-based multinational corporation specializing in luxury goods. The company owns a series of renowned houses in fashion, leather goods, and jewelry, including Gucci, Balenciaga, Bottega Veneta, Yves Saint Laurent, Creed, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin, and Ginori 1735.
Acquisition and partnerships:
- In October 2022, The Gap, Inc. acquired second-hand fashion resale company Janie and Jack to accelerate circular capabilities and children's apparel growth. The acquisition aligns with Gap's Power Plan 2025, focusing on circularity, inclusivity, and climate action. Gap, Inc., commonly known as Gap Inc. or Gap, is an American worldwide clothing and accessories retailer. Gap was founded in 1969 by Donald Fisher and Doris F. Fisher and is headquartered in San Francisco, California. The company operates four primary divisions: Gap, Banana Republic, Old Navy, and Athleta. Janie and Jack is a children's clothing brand founded in 2002 in San Francisco, California. Their current product range includes clothing for newborns up to 24 months old, as well as boys and girls up to age 18.
- In June 2022, Ralph Lauren announced a partnership with natural fiber company Earth Colors to introduce a more sustainable cotton dyeing process that uses natural indigo pigment and less water. Ralph Lauren Corporation is an American publicly traded fashion company that was founded in 1967 by American fashion designer Ralph Lauren. Headquartered in New York City, the company produces products ranging from the mid-range to the luxury segments.
- In January 2022, PUMA partnered with First Mile to increase use of recycled plastic in its sportswear. Under this plastic initiative, First Mile will supply recycled polyester to PUMA subsidiaries. Puma SE is a German multinational corporation that designs and manufactures athletic and casual footwear, apparel, and accessories, headquartered in Herzogenaurach, Bavaria, Germany. Puma is the third-largest sportswear manufacturer in the world. The company was founded in 1948 by Mr.Rudolf Dassler. First Mile is a UK environmental and waste management business based in London. It works with businesses to reduce their climate impact through services such as waste, recycling, and renewable energy.
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