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.
Major polyester producers in India and China have ratcheted up imports of Russian crude this year, according to a report published this week.
That could be enabling Russian oil to seep into Western wardrobes through suppliers that service companies including Tommy Hilfiger-owner PVH, Zara-owner Inditex and Nike, the report by environmental campaign group Changing Markets Foundation said. The companies did not respond to requests for comment.
The investigation examined the polyester supply chains of 50 fashion companies, tracing links to India’s Reliance Industries or China’s Hengli — two of the world’s largest polyester manufacturers — at 39 of them. In many cases the connection is indirect, via a third-party supplier.
”Russia is profiting from the fast-fashion industry by sneaking in oil to the European and US markets,” the report said.
ADVERTISEMENT
Learn more:
What Russian Sanctions Mean for Fashion
Navigating sanctions on Russia requires ‘constant vigilance and flexibility’ from brands and retailers.
As the French luxury group attempts to get back on track, investors, former insiders and industry observers say the group needs a far more drastic overhaul than it has planned, reports Bloomberg.
Fashion’s biggest sustainable cotton certifier said it found no evidence of non-compliance at farms covered by its standard, but acknowledged weaknesses in its monitoring approach.
After growing the brand’s annual sales to nearly €2.5 billion, the star designer has been locked in a thorny contract negotiation with owner LVMH that could lead to his exit, sources say. BoF breaks down what Slimane brought to Celine and what his departure could mean.
Balenciaga’s deputy CEO Laura du Rusquec will replace Andrea Baldo as the Danish brand aims to elevate its image.