US-based outdoor clothing retailer, Patagonia has been awarded with the Accenture Strategy Award for Circular Economy Multinational at the recently held Annual Meeting of the World Economic Forum in Switzerland, for its notable contributions it has made to the circular economy, driving innovation and growth, while reducing dependence on scarce natural resources.
“We are honoured to receive this meaningful, important recognition. We have only begun to scratch the surface of what is possible with a circular economy model. There is still so much work to be done to change global consumption habits and encourage reuse and repair,” notes Ryan Gellert, General Manager, Patagonia Europe.
Additionally, it will launch an e-commerce Worn Wear platform in Summer 2017 where the company will sell used Patagonia clothing and gear online, sourced directly from its customers. The goal of this platform is to extend the life of garments by encouraging people to sell unused clothing, reach new customers and promote the durability and quality of Patagonia products.
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It may be noted that the global apparel market is valued at US $ 3 trillion but has created a very linear economic model that produces enormous waste. The brand’s Worn Wear repair facility in Reno, Nevada, USA repairs over 45,000 items per year and the company operates retail repair stations around the world, in addition to providing its customers with free tools for repairing their own clothing.
