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Last week, several big fashion brands announced increased emissions, backtracking on some of the carbon targets the industry has set for itself. Elsewhere, The RealReal drops the aesthetic and Snap offers its first AR product for brands to use on their own sites. Don’t forget to subscribe to the Shiny Podcast for weekly review episodes and beauty industry interviews with fashion industry leaders. –Danny Paris, c. Fashion reporter
The output of big brands is increasing rather than decreasing.
Two major fashion companies released their own carbon emissions estimates last week, both showing an upward trend rather than the downward trend they had promised.
Aiming to halve its emissions by 2035, Kering increased its emissions by 12 percent last year, putting 2.4 million cubic tons of carbon dioxide into the atmosphere. On the positive side, Kering’s new goals eliminate emissions from revenue. Earlier calculations set Caring’s emissions targets relative to their revenue, meaning that if Caring’s revenue grew, the percentage of low emissions could rise in absolute terms.
In contrast, Nike has managed to even out emissions, reducing emissions by 8% in the last fiscal year, up from 8% a year ago. But the brand estimated in a report last week that it will increase emissions this year, citing increased demand for the product and the availability of low-carbon options for its products. By focusing on recycling and recycling, Nike hopes it can reduce emissions without pulling back on manufacturing. A good example is that another model of the Link sneaker that launched last year dropped this year. It is made of resin that can be easily dismantled at one of Nike’s eight recycling centers.
Real real sunset beauty
As part of an ongoing cost-cutting and profit-seeking initiative, resale platform The RealReal is discontinuing its beauty business. The company announced Thursday that it will sell out of its existing inventory and stop selling additional beauty products.
Interim partner Rati Sahi Levesque has previously told Real Rial how some categories, such as furniture, have seen a bigger-than-expected decline in the company’s profits. She owed it to high shipping costs and low margins. Abandoning beauty in order to control costs and seek profitability is another step towards focusing solely on luxury fashion and accessories.
Snap presents its first AR product
Snap, the parent company of social app Snapchat, has been working with brands on AR-powered collaborations and activities for years. But last week, the company announced the first product that lets those partners use Snap’s AR on their own sites.
Currently, in the in-app purchases section, Snap allows customers to try out virtual versions using its advanced AR filters. Then you can make purchases through Snapchat. The new product charges brands a monthly fee to offer the same technology through their own websites and apps. For Snap, it’s a strategic shift away from focusing solely on ad revenue.
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