YOOX NET-A-PORTER GROUP, the world leader in online luxury and fashion, announces its commitment to HRH The Prince of Wales’ Terra Carta, as the first luxury fashion retailer to join the Sustainable Markets Initiative. The Group’s pledge to Terra Carta, a call-to-action charter for businesses launched in January 2021 that puts nature, people and planet at the heart of global value creation, supports YOOX NET-A-PORTER’s ambitions to drive a more sustainable and circular luxury and fashion industry, through its recently published sustainability strategy to 2030, “Infinity”.
As part of the Sustainable Markets Initiative, YOOX NET-A-PORTER joins an influential group of global companies as supporters of a shared commitment to collaborate and exchange knowledge across industries, harnessing the transformative power and innovation of the private sector to accelerate the world’s transition to a more responsible future. As a supporter of the Terra Carta, YOOX NET-A-PORTER will support the action articles and targets outlined in the charter’s ten principles through the commitments published in “Infinity”.
“Infinity” combines an ambitious vision with 12 measurable commitments to 2030, all connected to United Nations Sustainable Development Goals. Its aim is to shape a future where loved products are made to last, where customers are equipped with options and knowledge to make informed choices and extend the lives of their garments, where the next generation is readied for a sustainable future, and where luxury and fashion can play their part in restoring balance to the planet. To drive progress, YOOX NET-A-PORTER builds on its legacy in sustainability initiatives, its roots and expertise in data, technology and innovation, and its scale and reach across 180 countries, 4.5 million customers and hundreds of brand partners, as it learns how to become a circular business, drives a circular culture and makes a positive impact on both planet and people. Initiatives already underway to advance “Infinity” since its publication in November 2020 include:
- Launching a Digital ID technology pilot programme for the Group’s private labels in partnership with EON. The technology enables customers to scan QR codes for unique information on provenance, design, content and future services (such as care and repair, re-commerce and recycling) that can unlock opportunities for circularity. This work advances the Group’s commitment to introduce innovative online solutions that help customers make more informed choices by 2022
- Applying circular principles to the Group’s private label collections to ensure they are fully designed for sustainability and circularity by 2025
- Advancing carbon reduction programmes with an aim of reaching 100% renewable energy across all owned operations, as one part of the journey to becoming climate positive by 2030.
YOOX NET-A-PORTER’s commitment to the Terra Carta is an evolution of the existing partnership with The Prince’s Foundation, of which HRH is President. Most recently, The Prince’s Foundation and YOOX NET-A-PORTER collaborated on The Modern Artisan, a unique project designed to equip trainee artisans with the skills and confidence needed to produce luxury apparel collections with sustainability at the heart and finished to the highest standards. The resulting capsule collection, branded YOOX NET-A-PORTER for The Prince’s Foundation, debuted across YOOX NET-A-PORTER’s family of online stores (NET-A-PORTER, MR PORTER, YOOX and THE OUTNET) in November 2020.
I’m delighted that YOOX NET-A-PORTER will be supporting the Terra Carta. The fashion industry has a vital role to play in our transition towards a sustainable future. I can only encourage more to join our coalition of the willing.His Royal Highness The Prince of Wales
Today, we’re thrilled to sign the Terra Carta, an ambitious charter that importantly includes a focus on investment in technology and STEM to catalyse our transition to a sustainable and circular era. Harnessing innovation to drive a more sustainable and values-led approach for the fashion industry is a journey I began in early 2000, culminating last year with the launch of The Modern Artisan, a long-term project I’ve been proud to have developed together with His Royal Highness. HRH’s commitment to championing sustainability has always been ahead of its time, but now time is running out, and I urge more of the fashion industry to join us.YOOX NET-A-PORTER GROUP Founder and Chairman, Federico Marchetti
YOOX NET-A-PORTER’s 12 “Infinity” commitments to 2030 and more information on its work towards a more sustainable and circular future can be found via: https://www.ynap.com/pages/sustainability/infinity/