// Fashion retailers join new partnership to drive sustainable business models
// Ted Baker, Fartetch among those that partner with the The London Waste and Recycling Board
// They will explore more sustainable operations via the Circular Fashion Fast Forward project
Ted Baker and Farfetch are among a group of fashion retailers that have partnered with the The London Waste and Recycling Board to develop more sustainable business models.
Their partnership forms part of the Circular Fashion Fast Forward project, under which the retailers will explore circular business models such as clothing hire, product resale, repair and rental services.
The circular models will be trialled with the aim of being implemented, should they successful.
The retailers will also share case studies to help other brands to develop their own sustainable business models.
The full details of what each retailer will do were not available at the time of print.
Despite this, The London Waste and Recycling Board – along with circular economy business consultants QSA Partners – believe circular approaches offer the retailers “a real opportunity to create more value and profit whilst reducing their environmental impact”.
Farfetch sustainable business director Thomas Berry said the new partnership should help the retailer “build the business case to accelerate our work in this area”.
“Circular models like resale or rental are big commercial opportunities for Farfetch,” he said.
“They are a very natural extension of our long-standing vintage offer, and we have started to pilot a few new models.
“Since 2018 our Browns retail store has been in partnership with rental platform Armarium, and we have just launched Farfetch Secondlife – a handbag resale service for our customers.”