M&S acquires Thread to tap into personalisation sector

Bright future for Joules after GBP34m Next takeover

UK retailer Next Plc has confirmed it has partnered with Tom Joule to acquire Joules out of administration, in a deal worth GBP34m (US$41.5m), a move industry onlookers believe is a positive one.

As part of the deal, Next said it intends to keep 100 of 124 Joules store locations, which GlobalData apparel analyst Pippa Stephens says is “a positive outcome” and one we may not have seen under the ownership of other contenders like Frasers Group.

In addition, Next has acquired the current Joules head office for GBP7m cash.

Brands prepare for Germany’s upcoming supply chain due diligence law

From January 2023 brands selling fashion in Germany or operating within the country will be bound by the Due Diligence Law concerning environmental and social responsibility.

Germany is keen to address the issue of brands’ due diligence negligence in supply chains with its Act on Corporate Due Diligence Obligations in Supply Chains (LkSG).

Mauro Scalia, director of sustainable businesses at Euratex, tells Just Style exclusively, respect for human rights in global supply chains is a key matter for the European industry, stating that large companies at the top of the supply chain already pass on the obligations imposed on them to suppliers and subcontractors through contractual clauses.

He added: “With the planned entry into force of the Supply Chain Act on 1 January 2023, companies face enormous bureaucratic burdens and reporting obligations. From 2023, companies that employ at least 3,000 workers and thus fall within the scope of the Act will have to prepare an annual report on the fulfilment of due diligence obligations in the previous business year.”

Primark says 45% of range now green in first sustainability report

Primark has revealed almost half (45%) of its clothing now contains recycled or more sustainably sourced materials, up from 25% at the launch of its sustainability strategy last September.

Primark, owned by Associated British Foods, revealed the details as part of its first-ever sustainability report.

Primark’s inaugural Sustainability and Ethics Progress Report sets out the company’s progress across its Primark Cares commitments and outlines its broader social impact and environmental sustainability work across its products, stores and the wider supply chain. The increased focus and investment in new teams and skills across the business has allowed Primark to accelerate progress against its commitments.

Primark added that in the face of rising cost-of-living pressures, it remains intent on delivering its vision of making more sustainable fashion affordable for all. One year on since the launch of its Primark Cares sustainability strategy, 45% of all clothes Primark sold came under its Primark Cares label denoting clothes that contain either recycled or more sustainable materials.

BGMEA says technology crucial for next stage of industrialisation

Bangladesh Garment Manufacturers and Exporters Association’s president Faruque Hassan told attendees at the Leadership Summit hosted by the Indian Ocean Rim Business Forum (IORBF) in Dhaka, Bangladesh that technology will play a crucial role in the “next stage of industrialisation.” He explained it will help to improve sustainability, competitiveness and to provide decent employment within Bangladesh.

Delegates at the event included education minister Dipu Moni (MP) as chief guest, private industry and investment adviser to the Prime Minister Salman Fazlur Rahman (MP) and state minister for disaster management and relief Enamur Rahman (MP) as special guests, as well as the IORBF’s chair Sheikh Fazle Fahim.

In his speech Hassan also highlighted the correlation between sustainability and digitalisation and how they complemented each other.