Rachel Deeley

    The News in Brief

    Tulipshare, a London-based platform representing investors’ interests on social and environmental causes, sent a letter to Nike’s board of directors Monday reiterating calls for improved transparency and respect for human rights in its supply chain and expressing “grave concern” for the sportswear giant’s lack of response to previous outreach attempts.

    Virginia-based Circ, which has developed a heat and chemical process for recycling clothes made from polyester-cotton blends, said it would use the funding to accelerate building its facilities for industrial scale, with a view to bringing its first consumer products to market.

    Co-founders Vanessa Jacobs, Thaís Cipolletta Ferreira Alves and Emily Rea announced their departure from the luxury repairs and aftercare start-up, in a joint statement shared on their respective LinkedIn profiles on Friday.

    Nearly 1.7 million tonnes of used fabric were exported to other countries — primarily in Asia and Africa — in 2019, but whether they are destined for recycling, re-use or landfill is “highly uncertain,” according to a report published Monday by the European Environment Agency.

    Post-tax losses at the brand, known for the sustainable positioning and advocacy of its eponymous founder, deepened 7 percent year-on-year, as higher sales were offset by increased administrative expenses amid a wider restructuring, according to accounts filed to UK registrar Companies House.

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