EU Approves Ban on Destruction of Unsold Clothing

The law bans the destruction of unsold textiles and footwear, and will apply two years after the law enters into force. Medium-size companies will have a six-year exemption, while smaller companies are wholly exempt from the ban - AFP
The law bans the destruction of unsold textiles and footwear, and will apply two years after the law enters into force. Medium-size companies will have a six-year exemption, while smaller companies are wholly exempt from the ban - AFP
TT

EU Approves Ban on Destruction of Unsold Clothing

The law bans the destruction of unsold textiles and footwear, and will apply two years after the law enters into force. Medium-size companies will have a six-year exemption, while smaller companies are wholly exempt from the ban - AFP
The law bans the destruction of unsold textiles and footwear, and will apply two years after the law enters into force. Medium-size companies will have a six-year exemption, while smaller companies are wholly exempt from the ban - AFP

The European Parliament and EU member states announced on Tuesday new rules to crack down on fast fashion and reduce waste, including a ban on destroying unsold clothes.

The new rules, first proposed by the European Commission last year, impose tougher rules on products to ensure they last longer and are easier to repair and recycle.

The law bans the destruction of unsold textiles and footwear, and will apply two years after the law enters into force. Medium-size companies will have a six-year exemption, while smaller companies are wholly exempt from the ban, AFP reported.

The commission, the EU's executive arm, will also have the power to extend the ban to other unsold products beyond clothing and footwear.

"It is time to end the model of 'take, make, dispose' that is so harmful to our planet, our health and our economy," said MEP Alessandra Moretti who spearheaded the legislation through parliament.

"New products will be designed in a way that benefits all, respects our planet and protects the environment," she added.

The law will also set specific requirements for key consumer goods in order to boost the durability of the products. Priority will be given to "highly impactful products" including clothing, furniture, mattresses as well as electronic goods.

Goods must also be sold with a "digital product passport", which could be a QR code, that will help consumers make informed choices about their purchases.

Under the new rules, large companies will also have to report annually how much of their production they have discarded as well as their reasons why, which the EU hopes will encourage such firms to give up such actions.



Hermes 2Q Sales Rise 13% on Continued Appetite for High-End Luxury

People stand with Hermes shopping bags as they wait at a traffic light in Tsim Sha Tsui, a bustling shopping hotspot, in Hong Kong, China December 5, 2023. (Reuters)
People stand with Hermes shopping bags as they wait at a traffic light in Tsim Sha Tsui, a bustling shopping hotspot, in Hong Kong, China December 5, 2023. (Reuters)
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Hermes 2Q Sales Rise 13% on Continued Appetite for High-End Luxury

People stand with Hermes shopping bags as they wait at a traffic light in Tsim Sha Tsui, a bustling shopping hotspot, in Hong Kong, China December 5, 2023. (Reuters)
People stand with Hermes shopping bags as they wait at a traffic light in Tsim Sha Tsui, a bustling shopping hotspot, in Hong Kong, China December 5, 2023. (Reuters)

Birkin-bag maker Hermes reported a 13% rise in second-quarter sales on Thursday, demonstrating the continued appetite from wealthy shoppers for its luxury handbags, even as less affluent consumers pull back.

Sales at the French luxury group grew to 3.7 billion euros ($4.02 billion), a 13% organic sales rise that strips out currency fluctuations. The figure was in line with analyst expectations, according to a Visible Alpha consensus.

Operating profit for the first half was 3.1 billion euros, compared to a forecast from consensus provider Visible Alpha for 3.2 billion.

One of the most steady performers in the luxury goods sector -- even as economic conditions worsen -- the French group's results stand out after a string of disappointing earnings updates from peers which have raised investor concern about uncertain prospects for the sector in the coming months.

Hermes' famously classic designs and tight management of production and stock have helped reinforce the label's aura of exclusivity, and CEO Axel Dumas told reporters the company had seen "no big interruption in trends".

However, he said Hermes was seeing slightly less traffic with aspirational clients, which was impacting higher volume products like fashion accessories.