PATAGONIA WINS THE CIRCULAR ECONOMY MULTINATIONAL AWARD
The award recognizes innovation in business and the significant contribution to the economy circular31 January 2017
PATAGONIA WINS THE CIRCULAR ECONOMY MULTINATIONAL AWARD AT THE WORLD ECONOMIC FORUM ANNUAL MEETING IN DAVOS
Patagonia Announces Plans for 2017 to continue to evolve its circular economy business model with a new e-comm Worn Wear platform.
VENTURA, Calif. and DAVOS (January 17, 2017) - During today, the Community of Young Global Leaders of the World Economic Forum in partnership with Strategy Accenture (NYSE: ACN) has awarded Patagonia with the Accenture Strategy Award for the Circular Economy multinational, at the annual meeting of World Economic Forum in Davos- Klosters. This award recognizes the outstanding contributions of Patagonia as part of circular economy, and its ability to drive innovation and maintain growth in terms of business, while reducing dependence on scarce natural resources.
"We are honored to receive this significant and important award," said Ryan Gellert, general manager of Patagonia Europe, who accepted the award on behalf of the company. "Patagonia is proud to accept this award, but this is only the beginning with respect to what we can achieve through a circular economy model. There is still much work to do to change the consumption habits worldwide and encourage the reuse practices and repair ".
The global clothing market is estimated at $ 3 trillion - but the growing trend towards fast fashion has created a very linear economic model that produces enormous waste. On the contrary, Patagonia is working to counter this approach, with a circular business model that focuses on achieving the highest quality products and helping customers to keep products in use for as long as possible.
Introduced in 2013 with the message of "If It's Broke, Fix It" (If it is broken, aggiustalo), the Worn Wear project has created a way to encourage people to take care of their heads, repairing them when necessary, and by recycling once reached the usage limit. The repair facility Worn Wear Patagonia in Reno, Nevada shelters more than 45,000 articles per year, in addition to the repair stations to detail that the company has activated around the world. In addition, Patagonia provides its customers with free tools for the repair of their clothing. With each repair, the company provides to its design team useful feedback to improve future products.
For summer 2017, Patagonia will launch an e-commerce platform Worn Wear through which the company will sell online clothing and accessories Patagonia, coming directly from clients. Consumers will be encouraged to bring used products at their local Patagonia store, receiving in exchange Patagonia credits for future purchases. The aim of this platform is to prolong the lives of leaders, encouraging people to sell unused clothes, reach new customers and promote life and the quality of Patagonia products. In addition, Patagonia will return on the road with Worn Wear, visiting 21 campuses across the United States to support the efforts of the student movements zero-waste (zero waste) that encourage the reduction of consumption, repair, reuse, and a conscious riclo .
"Receiving the Accenture Strategy Award for the Circular Economy Multinational in Davos is a signal that we are on the right track, there is hope for an increase in awareness for these issues, and that will inspire other companies to follow in our footsteps," says Rose Marcario, president and CEO of Patagonia. "We want our friends and customers learn that the only best thing to do for the planet, is to use things longer. Our goal as a company is to continue to provide the tools and resources to make this philosophy a reality in the lives of our customers. We are very excited about our new online platform which we hope will bring Worn wear design to new levels. "