How brands can comply with France's AGEC Law.
Challenges and opportunities for the fashion industry 2024
The end of the year is a great opportunity to set some time aside to reflect on the past 12 months. For us, there have been big moments of success, challenges to overcome, and takeaways to learn, which we want to share with you.
It has not only been a rapid journey for us but also for the textile industry, as legislation deadlines are approaching and setting fashion brands and manufacturers under pressure. But where there are challenges, there are also opportunities.
Throughout the year, we have achieved significant milestones, reinforcing our commitment to revolutionizing the fashion industry. Here is a glimpse of our achievements and our outlook on the obstacles the industry has to overcome.
Welcomed 16+ new customers
We are proud to share that we have expanded our product offerings, grown our team and increased our impact in the fashion industry thanks to welcoming 16+ new customers, including 12 renowned international brands and 6 manufacturers. They trust our platform for achieving legislative compliance, measuring direct and indirect environmental impacts, and conducting ESG analyses across their supply chains.
Launched Product LCA 2.0 for brands
Not only grew our customer base but also our product portfolio. We launched our Product Lifecycle Assessment Module 2.0 for fashion brands offering innovative features such as conducting LCA selecting among 3 frameworks (ISO, PEF, EPD), seamless integration of suppliers’ primary data, and advanced product comparison, benchmark analytics, and automated generation of a Product iD Card.
Our Product LCA tool is specifically developed for the needs of fashion companies to support sustainability managers in setting out their sustainability strategy. It’s a powerful method for several departments of a company, such as the sustainability, product, or marketing department.
Launched Carbon Footprint Module for manufacturers
In 2023 we started working with more and more manufacturers, focusing on accessing primary data and enabling data collaboration between brands and manufacturers.
We introduced our comprehensive Carbon Footprint module for manufacturers, featuring automated analyses of resource consumption efficiency, production process environmental performance, and a proprietary database of emission factors for chemical products.
Our Carbon Footprint calculator measures a company across all 3 scopes, shows how emissions are allocated through their value chain and indicates where to focus your sustainability strategy on.
Welcomed 10+ new team members
All the achievements above would not have been possible without our team being dedicated to making an impact in the fashion industry by developing digital tools that support sustainability managers in their daily activities.
Therefore we expanded our team with 10+ talented international members, enhancing our expertise in the Product, Science, and Sustainability Success Team who are tirelessly working on enabling data collaboration along the whole fashion supply chain. Because our mantra is: If you can't measure it, you can't improve it.
Hosted our first SBP Summit in Milan
End of November, the first SBP Summit took place at our HQ in Milan, Italy. An event solely organized by us brought together sustainability consultants, scientists, and 35+ sustainability and innovation managers from over 15 international luxury brands to share updates on crucial sustainability issues that companies in the sector will have to face shortly.
Together, we delved into crucial discussions on regulations and data integration within the supply chain. Thanks to this successful first Summit we are already planning on hosting a second one in Spring next year.
Our Outlook for the Fashion Industry in 2024
The fashion industry needs to rethink! In 2023 we attended 20+ industry events in 7 countries, such as the Global Fashion Summit in Copenhagen, the Textile Exchange Conference in London and the EURATEX Forum in Helsinki, to stay at the forefront of industry trends and legislation compliance.
We identified the following challenges and opportunities for the textile industry in 2024 and beyond:
- Embracing a data-driven approach
- Facilitating collaboration
- Rethinking certifications
- Prioritizing tangible, short-term goals
- Using sustainability as a catalyst
- Getting legislation compliant
We believe in enabling data collaboration along the supply chain and using scientific methods, such as Product LCA based on the ISO, PEF or EPD framework, to measure and reduce a fashion company's product impact and become legislation compliant.
Knowledge and management of supply chain data are and will increasingly be the fulcrum for developing effective decarbonization strategies, both direct and indirect, for every brand and manufacturing company. That's the mission we will keep on embarking on in 2024.
Getting legislation compliant with SBP in 2024
Legislation deadlines are approaching fast! From the French AGEC Law to the EU-wide Digital Product Passport, fashion companies need to start preparing now to ensure compliance with several European legislation coming into force between 2024 and 2026.
That’s why we started collaborating with Baptiste Carriere-Pradal from 2B Policy as legal advisor on fashion legislation to make sure our clients and product development team are getting new and pressing legal developments that will shape the industry first-hand.
Defining effective actions in 2024 to ensure compliance with European directives is crucial, particularly with the:
- Corporate Sustainability Reporting Directive (CSRD)
- Corporate Sustainability Due Diligence Directive (CSDD)
- Eco Design for Sustainable Product Regulation (ESPR)
How we bring value to the textile industry
By using technology and relying on scientific methods Sustainable Brand Platform supports fashion brands and manufacturers with fashion regulations compliance, effortless data management, strategic decision-making, measuring product impacts and performance as well as engagement and communication with customers.
2023 was a year full of growth and achievements, knowledge exchange and getting our clients and digital tools prepared for legislation and future industry challenges.
As we wrap up an incredible year, we extend our sincere thanks for your continuous support and collaboration. We are excited and ready for the challenges and opportunities that 2024 holds.
Here’s to another year of growth, innovation, and success! 🚀
Ready to embark on your sustainability journey with us? Book a 1:1 call with our Sustainability Success Team here!