Farfetch is all about sustainable fashion
The fashion world’s foremost online sales platform, Farfetch, is all about sustainability. In championing the cause, Farfetch is leading a wider trend in the fashion world, which has become increasingly aware of its environmental impact in recent years. According to a Quantis report, fashion is a major contributor to world pollution, being responsible for as much as 8% of global greenhouse emissions.
Farfetch’s share price has edged up by around 1% over the past month
Source: Yahoo Finance
Through its new ‘Positively Farfetch’ campaign, the company is celebrating its various ecologically-focused schemes. It has joined with a number of influential fashionistas including Reem Kanj, Nuria Val, and Primmy Patnasiri, as well as various brands and boutiques, to spur a transformation in the wider industry. Farfetch’s vision is of a fashion industry that can “coexist with our environment” and in enabling such a vision, it hopes to become a “global platform for good in luxury fashion.”
It’s early days, and Farfetch is yet to reveal longer-term plans. But it has made a number of concrete commitments so far. For one, it now uses 100% recyclable material in its packaging. It has also become 100% Forest Stewardship Council certified, meaning all its card and paper is sourced from sustainably managed forests.
Farfetch has also partnered with ethical fashion app Good On You, which lets users find the world’s most ecologically sound brands, and compare their favourite brands on sustainable criteria.
A further initiative under the Positively Farfetch campaign lets users repair and resell items, helping to create a more circular economy where old clothes are not discarded in packed landfills, and, through Dream Assembly, supports pioneering eco-minded businesses.
Dominion holds Farfetch in its Global Trends Luxury Fund.
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