Some of the biggest names in fashion are joining forces to create a thriving industry based on the principles of a circular economy.

As core partners of Make Fashion Circular, Burberry, Gap, H&M, HSBC, Nike and Stella McCartney will work with the foundation to radically redesign the fashion industry.

Together they will deliver the solutions needed to meet the changing demands and expectations of society, and address the issues that have seen the fashion industry become one of the most polluting and wasteful operating today.

Participants of the Make Fashion Circular initiative will unite behind three key principles to create a system that delivers benefits for citizens, the environment, and businesses: Business models that keep clothes in use; materials that are renewable and safe; solutions that turn used clothes into new clothes.

By working towards this bold new vision, the fashion industry can capture 460 billion dollars currently lost due to the underutilisation of clothes. An additional 100 billion dollars from clothing that could be used, but is currently lost to landfill and incineration, can also be captured.

The fashion industry is replacing the take-make-dispose model, which is worn out, with a circular economy for fashion in which clothes are kept at their highest value and designed from the outset to never end up as waste.