VENTURA, Calif. and
DAVOS, Switzerland, Jan. 17, 2017 /PRNewswire/ -- Yesterday the World
Economic Forum's Community of Young Global Leaders, in
collaboration with Accenture Strategy (NYSE: ACN), awarded
Patagonia with the Accenture Strategy Award for Circular Economy
Multinational at the Annual Meeting of the World Economic Forum in
Davos-Klosters. This award recognizes the notable contributions
Patagonia has made to the circular economy, driving innovation and
growth, while reducing dependence on scarce natural resources.
"We are honored to receive this meaningful, important
recognition," notes Ryan Gellert,
general manager, Patagonia Europe, who accepted the award on behalf
of the company. "While Patagonia is proud to accept this award, 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."
The global apparel market is valued at $3
trillion – but the growing trend towards fast fashion has
created a very linear economic model that produces enormous waste.
In contrast, Patagonia is working to counter this approach with a
circular business model that focuses on making the highest quality
products and helping its customers keep the products in use as long
as possible.
Introduced in 2013 with a message of "If It's Broke, Fix It,"
Worn Wear was created as a way to encourage people to take good
care of their gear, washing and repairing as needed, and eventually
recycling once the garment can no longer be used. Patagonia's Worn
Wear repair facility in Reno,
Nevada 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. With every repair, the company provides feedback to their
designers to improve future products.
Looking forward to Summer 2017, Patagonia will launch an
e-commerce Worn Wear platform where the company will sell used
Patagonia clothing and gear online, sourced directly from its
customers. Customers will be invited to bring used items to their
local Patagonia store in exchange for Patagonia merchandise
credits. 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. Additionally, Patagonia will again take Worn Wear on the
road, visiting 21 college campuses across the country to support
the efforts of student-led zero-waste movements that encourage
reduced consumption, repairing, reusing and responsibly
recycling.
"Receiving the Accenture Strategy Award for Circular Economy
Multinational in Davos is an
indication that we are on the right path and hopefully will
increase awareness for these issues and inspire other businesses to
follow in our footsteps," notes Rose
Marcario, Patagonia's president and CEO. "We want our
friends and customers to learn that the single best thing you can
do for the planet is to use stuff longer. Our goal as a company is
to continue to provide the tools and resources to make this
philosophy a reality in our customer's lives. We are very excited
about our new online platform which we hope will take Worn Wear to
a new level."
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SOURCE Patagonia