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VF Corp adopts circular economy

VF Corporation is changing to a circular business model. Consumers come back with lightly used jackets, shoes, clothes, to get of incentive to purchase something new. VF takes these products and, through a third party, cleans, resells, and recycles them. The company has found every time a retail store has such a program, traffic in the store goes up, conversion rate goes up, and average retail sale goes up.

US-based VF Corp, is an apparel, footwear, and accessory company and has more than 1,500 owned and operated retail locations around the world across its brand portfolio. A look at the overall impact of any company within the apparel industry shows roughly 70 or 80 per cent, if not more, comes from materials. The apparel industry is also incredibly wasteful, driven by a lot of fast fashion.

One challenge is that the economic system is not based on taking products back from consumers. There is not a lot of infrastructure. Consumers are not familiar with the idea of putting clothes into a box to send back to a brand. Who does it go back to? Distribution centers aren’t set up to take products back, wash them, clean them, repair them, and put them on an e-commerce site to sell them again.

 
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