– The new Scaling Circularity report by McKinsey & Company demonstrates the potential for pre-competitive collaboration to scale textile recycling technologies
– The textile recycling opportunity offers the potential to drive up to 80% circularity in the fashion value chain, whilst also creating jobs and value for investors
– Scaling textile recycling could build a 10 – 20 bn USD market.
– All major recycling technologies found to have better environmental impact across several indicators
– The Circular Fashion Partnership programme in Bangladesh has demonstrated how industry actors can work together to overcome barriers to scaling nascent recycling markets
- The report is co-authored by Reverse Resources, building its arguments heavily on the research and insight developed by us over the past 7 years, and verifying many of our findings.
Over 30 renowned fashion brands, manufacturers and recyclers are collaborating in a new initiative to capture and reuse textile waste in Bangladesh.
Global Fashion Agenda today announced the participants of the Circular Fashion Partnership, including the global brands Bershka, Bestseller, C&A, Gina Tricot, Grey State, H&M Group, Kmart Australia, Marks & Spencer, OVS, Pull & Bear, Peak Performance and Target Australia. The Circular Fashion Partnership is a cross-sectorial project led by Global Fashion Agenda, with partners Reverse Resources, The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and P4G, that aims to achieve a long-term, scalable transition to a circular fashion system*.