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Prada’s loan carries sustainability provisions

A loan which Prada has taken from a bank carries with it stringent provisions relating to sustainability which the luxury brand has to implement. One condition relates to the brand’s physical stores. There must be a certain amount of stores that are certified either gold or platinum by the green- building rating system Leadership in Energy and Environmental Design, which takes into account the construction of a building, its management, and the number of resources it consumes or waste it produces. Secondly, Prada will have to increase its training hours for its employees.

Also the brand has to reduce and phase out the use of virgin nylon by 2021 and instead move to Econyl, a recyclable yarn made from upcycled plastic waste. Phasing out nylon in any case is of paramount importance for the Italian fashion house, given the long-standing success of its cult Tessuto bags, which have traditionally been made with non-biodegradable nylon. Prada currently uses around 7,00,000 meters of the material annually. Prada has been making ongoing efforts for engaging in and cultivating virtuous behavior that contributes to its sustainable growth.

Brands are clambering to hop onboard the sustainability train as people are increasingly demanding that their clothes are made in an ethical manner.

 

 
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