The Swedish textile recycler has been under pressure since a weaker-than-expected sales update in October sent its share price plummeting and prompted the abrupt departure of its CEO.
Organisations representing more than 2,500 international brands, retailers and suppliers said the country’s new minimum wage for garment workers is too low to basic needs.
The executive, who helmed the organisation through a greenwashing controversy centred on its sustainability tools, will step down on Dec. 29.
Fashion Recycling Platform SuperCircle Raises $7 MillionThe reverse logistics business, whose clients include Reformation and Uniqlo, sits in an emerging space in the market, as more brands look to ensure the clothes they sell can be recycled at the end of their life.
Matthieu Blazy, Daniel Lee and Miuccia Prada and Raf Simons are also up for the prestigious prize.
The former Tod’s designer replaces Nicola Brognano, whose departure was announced last month.
Police have clashed with thousands of garment workers demanding higher wages in protests that have left factories damaged and at least two dead, according to media reports.
The Zara-owner will buy 2,000 tonnes of fibre made using raw materials from Renewcell, sending a signal of support after a weak sales update sent the Swedish recycler’s share price plunging this month.