The fashion industry, long hailed as a cornerstone of the global economy, now faces a critical question: Can fashion brands continue to thrive without incessantly churning out new garments? The latest initiative from the Ellen MacArthur Foundation, Fashion ReModel, aims to tackle this question head-on by bringing together major players in the industry, including Arc’teryx, Primark, Reformation, Zalando, and various brands under the H&M Group umbrella. The goal of this initiative is to explore opportunities to decouple revenue from the production of new garments.
AkzoNobel, a leading global paints and coatings company, has announced its intention to close its manufacturing sites in Groot-Ammers (The Netherlands), Cork (Ireland), and Lusaka (Zambia). Production from these sites will be transferred to other locations within the respective regions. This decision marks the beginning of a comprehensive, multi-year industrial efficiency plan, which is set to be completed by the end of 2026.
In the realm of commodity trading, ICE cotton witnessed a second consecutive trading session of gains on Thursday, propelled by a myriad of factors including short covering, weather anxieties in key producing regions like the US and Brazil, and a moderately encouraging export sales report. However, despite these positive developments, external influences continued to cast a shadow over the cotton market.
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