Iraq Fashionistas Champion Climate-friendly Vintage Wear

Global fashion accounted for two percent of greenhouse gas emissions in 2019 and climate-conscious social media influencers are pushing for sustainable fashion. AHMAD AL-RUBAYE / AFP
Global fashion accounted for two percent of greenhouse gas emissions in 2019 and climate-conscious social media influencers are pushing for sustainable fashion. AHMAD AL-RUBAYE / AFP
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Iraq Fashionistas Champion Climate-friendly Vintage Wear

Global fashion accounted for two percent of greenhouse gas emissions in 2019 and climate-conscious social media influencers are pushing for sustainable fashion. AHMAD AL-RUBAYE / AFP
Global fashion accounted for two percent of greenhouse gas emissions in 2019 and climate-conscious social media influencers are pushing for sustainable fashion. AHMAD AL-RUBAYE / AFP

In a palm grove north of Baghdad, bemused Iraqi shepherds looked on as models paraded second-hand garments down an improvised catwalk, seeking to raise awareness of the fashion industry's environmental impact.

Haute couture has given way to upcycled outfits, sourced entirely from used clothes, as the models strut, pause and pivot on the runway, a sign of the growing popularity of chic, environmentally friendly vintage wear among young Iraqis, AFP said.

"We don't want overproduction of clothes, we have to reuse them," said Mohamed Qassem, 25, a hairdresser and organizer of the fashion show near Al-Hussainiya village.

The global fashion industry accounted for two percent of greenhouse gas emissions in 2019, according to the World Resources Institute.

Campaigners and a growing number of climate-conscious social media influencers have led a push toward sustainable fashion.

Many young people in climate-stressed Iraq, like Qassem, have become passionate about vintage clothing.

The palm grove event showcased fluorescent green puffer jackets, long black leather coats, ample double-breasted blazers, and modern takes on traditional costumes.

In many parts of Iraq, scarred by decades of conflict, peaceful rhythms are gradually returning to daily life and second-hand clothing offers aspiring fashionistas an affordable chance to express themselves.

Climate threats
As Baghdad's streets see more "fast-fashion" and imported brands, the outfits at the Al-Hussainiya event predominantly feature green elements, a nod to the show's environmental message.

Iraq, synonymous with date production, has seen its iconic date palms placed under stress by the effects of climate change and the years of conflict.

"The goal is not to focus only on clothes, but also abandoned orchards, palm trees that disappear every day," Qassem said.

The United Nations says oil-rich Iraq is one of the five countries most exposed to the impacts of climate change, already witnessing extreme summer heat, frequent droughts, desertification and regular dust storms, which will exacerbate as the planet heats.

The designs at the fashion show will not be put on sale. Organizers mainly hope the symbolic parade will raise awareness.

Ahmed Taher, a 22-year-old stylist who put together the sets for the show, said "second-hand pieces are clothes of excellent quality".

"When you wear them, you have the impression of wearing luxury clothes. It's different from what you find in stores."

A business student, Taher offers Baghdad's hipsters vintage clothes on Instagram -- where he has around 47,000 followers -- selling pieces for around $20.

"We want to wear unique clothes and not all look like each other," he said.

'Last a lifetime'
A student-turned-model for the day, Safaa Haidar, said she was attracted to vintage clothes as she could shop "according to my personality".

But in Iraq, where the UN estimates nearly one-third of the 42 million inhabitants live in poverty, many wear used clothing out of necessity.

In the winding alleys of central Baghdad's second-hand clothes market, stalls overflow every Friday with shirts, shoes and jeans, with shoppers checking sizes in front of the sellers.

Here a shirt can cost barely $2, while other pieces can sell for as much as $60 or even $200.

Mohamed Ali, a 20-year-old engineering student, came to buy shoes.

"It's not that we can't afford to buy new, but here we find better quality and unique pieces," he said.

Ali recounted his parents' stories from life in the 1990s, when Western sanctions against Iraq meant they would wear clothes, even "inside out, until they were worn out, because they could not afford" new ones.

Now, Ali and most of his friends shop for vintage clothes for their durability and style, he said.

Merchant Hassan Refaat, 22, sells imported second-hand clothes which find a new life in Iraqi wardrobes.

He also imports goods from Iraq's northern autonomous Kurdistan region, bordering major textile producer Türkiye.

"Second-hand clothes are of better quality than the new clothes available on the market," he said.

"Very often, they are branded pieces, and the brands last a lifetime."



Nike Shares Jump as Ackman’s Return Sparks Turnaround Hopes

The logo of Dow Jones Industrial Average stock market index listed company Nike (NKE) is seen in Los Angeles, California, United States, April 12, 2016. (Reuters)
The logo of Dow Jones Industrial Average stock market index listed company Nike (NKE) is seen in Los Angeles, California, United States, April 12, 2016. (Reuters)
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Nike Shares Jump as Ackman’s Return Sparks Turnaround Hopes

The logo of Dow Jones Industrial Average stock market index listed company Nike (NKE) is seen in Los Angeles, California, United States, April 12, 2016. (Reuters)
The logo of Dow Jones Industrial Average stock market index listed company Nike (NKE) is seen in Los Angeles, California, United States, April 12, 2016. (Reuters)

Nike shares gained nearly 4% on Thursday as investors hoped the return of billionaire William Ackman as a stakeholder could spark a turnaround at the sportswear giant that has been battling with strategy missteps and tough competition.

Ackman's hedge fund Pershing Square Capital Management now owns roughly 3 million shares of Nike, amounting to a stake of about 0.19%, a filing showed on Wednesday. He has not revealed any plans for the investment yet.

"He's going to have the ear of the executives at Nike and be able to lend some influence on maybe how to get the ship righted, as it were, for Nike at this point in time to try and find their way back home," said Brian Mulberry, client portfolio manager at Zacks Investment Management, which owned $25.79 million worth of Nike shares as of June.

The stock has lost nearly a third of its value this year and the company has forecast a drop in annual sales for fiscal 2025, leading some Wall Street analysts and investors to raise the possibility of a management shake-up including CEO John Donahoe.

When an activist investor comes in, the ultimate goal "will be replacing the person that sits in the corner office," said Art Hogan, chief market strategist at B Riley Wealth.

"And I say that because the template for that has been very clear this week in the form of Starbucks."

Starbucks poached Chipotle CEO Brian Niccol earlier this week, tapping the industry veteran behind the burrito chain's turnaround to revitalize growth at its coffee outlets.

Niccol joining Chipotle in 2018 was also the result of one of Ackman's pressure campaigns that have often led to CEO changes at companies including J.C. Penney and Air Products and Chemicals.

Ackman last invested in Nike in late 2017, around the time when the company was losing market share in North America to a reinvigorated Adidas.

He exited Nike a few months later in 2018, making roughly $100 million in profit by cashing out of the 0.71% stake - a rare passive investment for the billionaire investor.

Analysts and investors hinted on Thursday it might be early days for Ackman's second stint as an investor at Nike and he will need to build a larger stake to make an impact.

Nike's forward price-to-earnings ratio for the next 12 months, a common benchmark for valuing stocks, was 24.26, compared with Adidas' 36.75.