Italian online fashion retailer Yoox-Net-a-Porter, in its commitment to sustainability, has joined Sustainable Markets Initiative (SMI) and its charter Terra Carta.
Yoox-Net-a-Porter thus becomes the first luxury fashion retailer to join SMI, which was launched last year to foster global engagement and change across private firms.
Earlier this year, Prince of Wales had announced the launch of SMI’s Terra Carta, which aims to provide a roadmap to 2030 for businesses to move towards ambitious and sustainable future.
Signatories of the Terra Carta have committed to acknowledging the need for net zero emissions targets to be met by 2050 or earlier.
Here it is important to mention that Yoox-Net-a-Porter’s commitment to Terra Carta comes in the wake of publishing its Infinity strategy to 2030 last December, which comprised 12 measurable commitments connected to UN sustainable development goals.
Expressing delight, Federico Marchetti, Founder and Chairman, Yoox-Net-a-Porter’s, said that Yoox-Net-a-Porter’s is thrilled to have signed Terra Carta as it also includes a focus on investment in technology and STEM to catalyse its transition to a sustainable and circular era.
Founded in 2015, Yoox-Net-a-Porter today serves more than 180 countries.