Circularity & Innovation
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Apparel companies are incorporating circularity principles across many parts of their value chain - from prioritizing new packaging design and take-back programs to creating resale and clothing take-back programs.
Sustainability Strategy: Circularity & Innovation
Sustainability Strategy Definition: Company invests in innovation to achieve new circular business models which focus on product takeback and innovative design methods
Mediating Factors:
- Operational Efficiency: Optimize corporate and supply chain efficiencies to lower cost and increase profits
- Innovation: Create new revenue streams using sustainable business models
- Customer Loyalty: Attract an increasing number of conscious buyers & consumers, while reducing retention costs
- Risk Management: Encourage risk mitigation and resilience within the value chain
- Sales and Marketing: Increase volume of sales through brand and marketing policies
- Media Coverage: Increase a company's media presence with the development of both traditional and social media content
Mapping Sustainability Strategies, Practices, and Sub-Practices Across the Value Chain
As a leading sustainable apparel company, EILEEN FISHER sought to identify and monetize its current financial and societal benefits of prioritizing lower carbon modes of transportation and investing in circular take-back programs.
Circularity & Innovation Walkthrough
Interested in learning how your company can invest in sustainability strategies like circularity and innovation? NYU Stern CSB offers a deeper dive into the practices, sub-practices, mediating factors surrounding this sustainability strategy.
Monetization Toolkit
Interested in how we quantify apparel sustainability strategies? Explore NYU Stern CSB's Excel Toolkit that we use to help organizations understand how investing in sustainability initiatives can benefit their bottom line.