Driving circularity in the luxury industry with the Sustainable Markets Initiative
As part of the HRH The Prince of Wales’ Sustainable Markets Initiative, leaders from global luxury brands committed to implement Digital IDs across all their products by 2025 in a landmark announcement in Rome at G20 2021.
As part of the HRH The Prince of Wales’ Sustainable Markets Initiative, leaders from global luxury brands committed to implement Digital IDs across all their products by 2025 in a landmark announcement in Rome at G20 2021. EON is a proud member of the Fashion Taskforce, stewarding the brand’s commitment to digitization. Chaired by Federico Marchetti, Founder of the YOOX Net-a-Porter Group, its members include CEOs from Brunello Cucinelli, Burberry, Chloé, EON, Gabriela Hearst, Giorgio Armani, Johnstons Of Elgin, Moda Operandi, Mulberry, Selfridges, Stella McCartney, The Dubai Mall, Vestiaire Collective and Zalando.
Fashion’s largest tech-enabled sustainability commitment
At G20 2021, the Taskforce announced the largest ever tech-enabled sustainability commitment: to implement Digital IDs across all their products by 2025. Members of the Taskforce have committed to begin the Digital ID rollout process within their brands, along with the adoption of a circular data protocol with immediate effect. As a member of the Fashion Taskforce, Natasha Franck, EON Founder and CEO is informing the commitment, and making free and publicly available EON’s Circular Product Data Protocol. With a Digital ID for every item, key players in the fashion value chain — including manufacturers, brands, retailers, resellers, and recyclers — will benefit from unprecedented end-to-end transparency and traceability. Digital IDs will also unlock new circular services for customers, such as care, repair, resale and recycling. By scanning an interactive label on their products, such as an NFC tag or QR code, customers can access credible information about how their garments are designed, manufactured, and distributed, and thereby make more informed purchase choices.
FEDERICO MARCHETTI, Chair of the Fashion Taskforce and Founder of YOOX Net-a-Porter Group
Learnings & Results
Described by HRH as a “coalition of the willing,” the Fashion Taskforce is also creating a permanent Steering Committee that will work collaboratively to solve relevant challenges, and openly share knowledge and best practices with regards to Digital ID implementation. The Sustainable Markets Initiative Fashion Taskforce will continue to share updates on these commitments.
Action
The Fashion Taskforce has announced its next focus: a progressive shift towards a circular bio-based industry.Its new Regenerative Fashion Manifesto explores how a common approach to regenerative farming practices can represent a concrete solution to reduce emissions. In signing up to the Manifesto, the Fashion Taskforce members are committing their brands — which are amongst the biggest names in the fashion industry — to a progressive shift towards Regenerative Fashion using newly created or restored regenerative landscapes as the basis for circular bio-economy value chains.Download the manifesto here.
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