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Stella McCartney shares latest environmental impact report

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Stella McCartney has revealed that its total valued impact on nature in 2021 was estimated at 3.1 million euros, mainly from greenhouse gas emissions, which counts for 72 percent of its overall impact, along with land use and water consumption.

The 2021 impact figure is down from 5.3 million euros in 2020, and 8.2 million euros in 2019. However, the luxury ethical brand noted that it is not possible to directly compare this year’s result with previous years. That is because, for this most recent environmental impact report, there were changes in scope and data availability, as well as the fact that the brand produced less due to the pandemic.

Commenting on the findings, Stella McCartney said in a statement: “When I launched Stella McCartney in 2001, I had a singular mission: to create beautiful, desirable clothing that people would love to wear, made from materials that do not harm our fellow creatures. My Impact Report 2021 outlines where we stand exactly 20 years on: a conscious fashion pioneer today, continuing to push towards solutions that will protect our better tomorrow.

“I am incredibly proud of the actions we have taken, the positive changes we have implemented and the innovations we are currently supporting, but there is so much more we can do. And we will.”

In 2021, Stella McCartney’s most-used material was cotton, with 78 percent of it coming from organic sources with a lower impact. Along with polyester and polyurethane, wool, including regenerative wool, forest-friendly viscose and brass.

Stella McCartney outlines environmental impacts and conscious solutions

The report also outlines many of the brand’s ongoing and future initiatives, including its goals to achieve net-zero, circular business ambitions and improvements across packaging, global stores and offices, and water stewardship.

This includes continuing to invest in circular, nature-based and regenerative solutions, including its SOKTAS regenerative cotton project in Turkey, a project it has led since 2019 in partnership with LVMH, which is a minority partner in the brand. In addition, it has also started to use new low-impact materials like Mylo, the mycelium-based leather alternative, which is a significantly lower-impact alternative to both animal leather and 100 percent synthetic alternatives.

Other 2021 highlights include using more recycled content in its bestselling Falabella bags, introducing regenerative fibres into the supply chain, partnering with Human Society International to end fur cruelty in the industry, and releasing a capsule collection to support Greenpeace’s campaign to stop deforestation in the Amazon.

For its part, Stella McCartney notes that it is looking into embracing a more circular economy to extend the product lifecycle by committing to extending the use-phase of its products and preventing garments, offcuts, or unused fabrics from ending up as waste. It is also designing products with circularity in mind, increasing the input of post-consumer and pre-consumer recycled waste in its products, reducing its reliance on the planet’s finite resources, as well as designing for disassembly and favouring mono-material construction and using regeneratively-sourced materials.

Stella McCartney also offers a global repair scheme in its stores to extend the lifecycle of its products as well as adding CleverCare labelling on all garments that share solutions for customers to minimise environmental footprint and extend lifespan through care guidance and advice. It is also embracing resale in partnership with The RealReal in the US.

Concluding the report, the British brand states: “At Stella McCartney, we believe in a future where circular, regenerative and nature-positive solutions are common practice – setting a standard for the industry today that protects the planet for tomorrow. We want waste eradicated and materials kept in circulation, with individuals respected and protected at every level of supply chains.

“We are committed to investing in sustainability to safeguard the future of our planet, people and fellow creatures. We have come a long way since 2001, and together our industry has a big mountain still to climb. Collective responsibility needs to be taken, to protect and leave a habitable – moreover thriving – planet for future generations.”

Caring for the environment doesn’t come cheap

Stella McCartney also shows in the company’s most recent filings at Companies House that reducing fashion’s environmental impact isn’t cheap. In the 12 months to December 31, 2021, the company’s turnover rose 14 percent compared to 2020 to 32.5 million pounds, with a loss before tax of 32.7 million pounds.

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Fashion

Pinterest announces trend predictions for 2024

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As the latest trends seem to move a million miles per minute, Pinterest stays ahead of the curve—the lifestyle tech company just revealed its predictions for 2024 trends across beauty, fashion, and more.

Based on an analysis of various search algorithms generated by visitors on the platform, Pinterest’s near-500 million users provide insights on what is currently garnering mass interest, and what will soon be on the radar across multi-generational consumers prior to its rise.

And the platform has seldom been wrong. Among the highlighted trends forecasted for 2023 was the rise of ultra-femininity in fashion, which has since manifested itself in the whimsical bows, lacy motifs, and airy styles seen across the runways at fashion week and social media trends.

This coming year, the feminine frenzy will continue on with “Bow Stacking.” Thanks to a 190 percent and 180 percent uptick in searches like “Bow outfit” and “Bow necklace,” 2024 will continue the love for the frilly detail—à la popular brands like Sandy Liang—but in unbridled maximalist fashion, adorning the accessory onto hair, shoes, bags, and overall looks.

On the side of masculine fashion, Pinterest noted the emergence of “Eclectic Grandpa” in 2024 chiefly among Gen Z and boomers, who will “embrace grandpacore and bring eccentric and expressive elements for the ages to their wardrobes,” per the report. Encompassing retro staples and layered cardigans in ‘70s-esque hues, this nostalgic style was increasingly explored by 130 percent.

An appreciation for all things vintage also makes its way into upcycling trends, showing a desire in consumers to get crafty and explore not just secondhand clothing, but second hand materials for themselves. Similar to the DIY fad of the 2010s, “Give a Scrap” looks to be the upcoming fashion project for boomers and Gen Xers alike. With searches like “zero waste sewing patterns” and “leftover fabric” both up 80 percent, consumers are gravitating toward habits that drive sustainability in their personal approach to fashion.

Between metal-toned jewellery and avant-garde fashion, metallic colours and creations are slated to be a highly sought-after material in 2024. “Metallics will make their way into the mainstream in 2024 as Gen Z and Millennials trade in their neutrals for something a bit more hardcore,” wrote Pinterest in the report. Popular pursuits like “metal corset” and “silver necklaces layered” indicate growing interest in metal hardware, but the textured shades are also being explored in aluminium furniture and metallic nail art.

The “Make it Big” trend also further bolsters the growth of metals, as shoppers are looking toward bolder, chunkier silhouettes in accessories and hairstyles alike, suggested by the prevalence of inquiries like “chunky hoops” and “sculptural jewellery.”

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AI-driven shopping app Yaysay secures $10.3m in funding

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Yaysay, a shopping app utilising artificial intelligence (AI) to provide a personalised gamified experience, has secured 10.3 million dollars in funding in order to launch its Beta mode into the market.

The app, co-founded by industry veterans from Casper, Gilt Groupe and Stitch Fix, aims to make off-price shopping a “five-minute daily habit”, offering a “sustainable solution for excess inventory in the retail industry”.

Using AI, the platform provides users with a personalised fashion feed that draws inspiration from social media and other apps while blending the concept of competition and gaming into one shopping experience.

Each day, the feed will refresh its offering of discounts on sought-after brands, such as Chloé, Acne Studios, Gannie and Loewe, in a design aiming to act as a new treasure hunt while also “breathing new life into overstock inventory”.

In a release, Yaysay CEO, Lindsay Ferstandig, the former CEO of Stitch Fix, said: “While mobile shopping is convenient, it is generally uninspiring for brands and consumers alike. With Yaysay, we are creating an elevated brand experience that brings the joy back to shopping, transforming deals from the most covetable brands into addictive bites of fun.”

The Beta version of Yaysay is now live and comes alongside a waitlist which will allow consumers to gain an early glimpse into the platform within the coming weeks.

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Pepco issues ‘downward revision’ to forecast reorganises management

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European retail chain Pepco is continuing to experience a downward trend in its financials, as revenues for August came in lower than anticipated and are worsening in September, with negative like-for-like sales and weaker than expected performance from new stores.

The group, which operates UK-based Poundland, has been attempting to initiate an expansion strategy in the region, with plans to open a slew of refreshed stores and grow its fashion business, among other categories.

However, it appears that such efforts have not been enough to avoid the slower rate of sales in its core markets of Central and Eastern Europe (CEE), with gross margins also not bringing in the recovery expected and record warm weather dampening the demand for its autumn/winter collections.

As a result, Pepco said it made a “further downward revision” to its full year 2023 forecast, while also now forecasting to deliver underlying EBITDA of around 750 million euros.

The group has also taken “immediate and decisive” actions to shuffle its management team in light of the underperformance and the recent departure of its outgoing CEO.

Strategic review adopted to address costs Anand Patel, the managing director of the Pepco business, will step down immediately and will be replaced by managing director of Poundland, Barry Williams. Meanwhile, chief operating officer of Poundland, Austin Cooke, will step into the role of managing director for the retailer.

A group executive committee has also been formed in order to establish a strategy review across the group to address costs and initiatives that could generate “appropriate returns in the near term” and accelerate transformation.

In a release, executive chairman Andy Bondy said: “We remain confident in the opportunity of building Europe’s leading variety discount retailer offering great value to consumers across a range of FMCG, clothing and general merchandise products.

“However, it is clear that we need to refocus on delivering for our customers in our core business while delivering more measured growth. We need to improve profitability and cash generation in our established business alongside a more targeted growth plan in markets where we have an existing presence.”

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