Strategic Partner of Global Fashion Agenda BESTSELLER recently launched an ambitious new sustainability strategy, Fashion FWD, placing sustainability at the core of its business.
The Fashion FWD strategy emphasises the immediate need for inclusive and holistic action on sustainability across the value chain, and to guide the strategy BESTSELLER has formulated a North Star vision, describing its ultimate ambition and providing a constant sense of direction for the company.
“Our strengths as a business are our agility and responsiveness to trends. We will apply these strengths to respond to the changing demands of our planet and society, and to speed up our transition to a more sustainable reality. By preserving our climate, using resources efficiently and promoting human rights, business can be a positive force for change. We want to play a significant role in overcoming the biggest sustainability challenges and we see sustainability as a prerequisite for ongoing business success. Building on some good progress to date, we are now speeding up our efforts,” says BESTSELLER CEO and owner Anders Holch Povlsen.
With its North Star ambition BESTSELLER commits to bring fashion forward until the company is climate positive, fair for all and circular by design. Climate positive means that it will remove more emissions than it emits. Fair for all means that it will promote equality, dignity and safe working conditions for all, and circular by design means that the company will turn waste into a valuable resource throughout its value chain.
“This is a significant moment for our company as we place sustainability at the core of our business. At the same time, we are fully aware of the magnitude of the challenge ahead. Without industry collaboration and the support of our business partners, we will not get there,” says BESTSELLER’s Head of Corporate Affairs Dorthe Scherling Nielsen.
The Fashion FWD strategy is based on becoming as sustainable as possible, as soon as possible, across four focus areas covering BESTSELLER’s value chain. These areas are 1) using sustainable materials and working with innovative new fibres, 2) improving its environmental footprint to have a positive impact on the environment, 3) embedding human rights in the industry and 4) focusing on a circular business model. Each of these focus areas include specific, measurable goals for the period of 2019-2025 and when they have been achieved, BESTSELLER will set new ones to continue its journey towards its North Star.
To accelerate its progress within sustainability, BESTSELLER has also committed to a new investment platform as part of Fashion FWD. Dubbed Invest FWD, this new initiative will see BESTSELLER strategically invest in sustainable innovation and solutions throughout the whole life cycle of fashion.
“We know that we will only achieve our North Star through innovation, cooperation and by putting significant resources behind our efforts. That’s why we are launching Invest FWD,” says Dorthe Scherling Nielsen.