The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Multiple bidders have put in offers to buy the business and assets of bankrupt Swedish textile recycler Renewcell, the company’s bankruptcy trustee said Thursday.
The process has been closely watched by many in the industry, keen to see a business that represented one of fashion’s most advanced prospects to meet increasing demand for circular fibres revived.
The nature of the bids and the names of the bidders were not disclosed. A final closing is expected mid-April following a review process.
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Why Renewcell’s Bankruptcy Might Be the Push Textile Recycling Needed
In the weeks since one of the industry’s most promising recycling start-ups filed for bankruptcy, big brands have put more money and more commitment into bringing innovations to market.
The sector’s planet-warming emissions inched lower in 2022 thanks to revised data, but they’re still on track to grow by more than 40 percent by 2030, according to a new report.
Textile-to-textile recycling technologies could be a climate game changer for fashion’s environmental footprint. But like renewable energy, they need state support for market efforts to scale, argues Nicole Rycroft.
More than a year after the ultra-fast-fashion company said it would tackle issues of unlawful overtime, 75-hour weeks remain common in its supply chain, Swiss watchdog Public Eye found.
A study published this week found traces of cotton from Xinjiang in nearly a fifth of the products it examined, highlighting the challenges brands face in policing their supply chains even as requirements to do so spread to raw materials from diamonds to leather and palm oil.