LA CORUNA – At its AGM today in Spain, Inditex says that by 2025, 100 per cent of the cotton, linen and polyester used by its eight clothing brands will be made from either organic, ‘sustainable’ or recycled fibres.
It also revealed that its ‘Join Life’ labelled garments will account for 25 per cent of the total number of garments that it sells by the same date.
With annual revenues in the region of €26.14 billion, the owner of Zara, Pull & Bear and Massimo Dutti says that its strategy to integrate sustainability and digitisation in its supply chains are fundamental to its business plans going forward.
“Our digital transformation and determined progress towards the most demanding sustainability standards are complementary and underpinned by the efficiency of our long-standing business model,” noted Executive Director Pablo Isla in the retailer’s latest sustainability statement released at today’s AGM. “Sustainability is a never-ending task in which everyone here at Inditex is involved and in which we are successfully engaging all of our suppliers; we aspire to playing a transformational role in the industry.”
The news comes shortly after first quarter sales at Inditex hit a new record of €5.93 billion with net profit up 10 per cent to to €734 million compared to the same quarter last year. It also comes at a time when sustainability announcements from huge companies whose business models are based on continued growth – continue to be questioned.