Boosting its Environmental Credentials | Prada
As we enter the 21st century, the biggest threat to the planet and its inhabitants still stands : Climate Change, and it's no surprise the biggest fashion houses and retailers have upped their game in recent years, developing schemes, products and laws to enforce a 'greener' business model.
Prada, the Italian, world-renowned fashion house, who too, has been making efforts contributing towards saving waste and reducing emissions, to satisfy the changing culture/conscience within the consumer circle.
Prada has just become the first high end fashion brand to sign a sustainability-linked loan, meaning if Prada doesn't meet its promised targets; it will be financially penalised. Alongside this, the creation of its 'Re-Nylon' range with it's aim to only used recycled nylon by 2021 and the subscription to the G7 Summits Fashion Pact, with a promise to meet the three key sustainability goals: eliminate greenhouse gas emissions by 2050; reduce single-use plastics by 2030 and support innovation to destroy micro-fibre pollution; Prada is one of the key fashion brands meeting climate change head on.
Shaking up the industry again, Prada's confidence to change its business model and acceptance of paying more if they can't meet the aims is interesting and daring; a 43£ million green loan with Crédit Agricole isn't something I'd personally want gaining interest!
However, if the aims - reducing staff hours, meeting Gold or Platinum LEED store certification (efficiency) and increased use of re-nylon - are met, this will be a dynamic and sustainable change for the company and industry, giving others a potential model to use and adapt.
Prada's executive director and chairman, Carlo Mazzi, states "The large majority of the younger generation are in favour of sustainability. Very soon all of the population will share this value,”; showing that Prada is listening and responding to its customer audience, striving to be innovative, creative and sustainable plus profitable and successful, always keeping the planet at its forefront.
However, these needs don't come without difficulties, Mazzi states "“It's easy to reduce our direct contribution to pollution, but to reduce the pollution created by our providers and the providers of our providers – this is very difficult.”. This only shows how climate change is not and shouldn't be used as a marketing tool within any business, it is a way of life, that needs to be adapted and used throughout many industries, especially those who drive the negative impacts currently contributing to the issues our planet face.