Industry

Fashion Industry May Finally Face Accountability for Its Huge Toxic Footprint

 A model walks the runway at the Prada Resort 2019 Fashion Show on May 4, 2018 in New York City.

A model walks the runway at the Prada Resort 2019 Fashion Show on May 4, 2018 in New York City.
Photo: Mike Coppola (Getty Images)

A bill before the New York State Assembly could finally impose some standards on an incredibly polluting but little-regulated industry: fashion. The proposed law, known as the Fashion Sustainability and Social Accountability Act, would make New York the first state in the U.S. to have any sort of environmental reporting requirements for the fashion industry.

The law would apply to apparel and footwear companies doing business in New York that earn more than $100 million in annual global revenue—a big umbrella that encompasses high fashion brands like Prada and Armani; mall staples like Nike; and fast-fashion companies like Shein and Boohoo. The law itself is essentially an accounting mechanism, designed to force companies to get a handle on their supply

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Flowfy Talks Fashion Industry Trade Credit

The fashion industry was hit particularly hard by supply chain disruptions and economic volatility, often culminating in excessively-long B2B payment terms for suppliers — or non-payment altogether.

Earlier this year, a group of garment suppliers across the Middle East and Asia banned together to demand more favorable B2B payment terms from their corporate buyers, seeking 90-day terms following reports that some of the world’s largest apparel retail brands, including Gap and Primark, had cancelled orders totaling an estimated $3.7 billion at the beginning of the pandemic.

In April 2020, reports like the one that Topshop parent company Arcadia introduced 30-day extensions to supplier payment terms, coupled with order cancellations, as well as news that H&M cancelled about $4 billion worth of orders from suppliers, were commonplace.

A global and highly-fragmented market made up of many small and medium-sized enterprises, the fashion industry can be notoriously challenging for vendors, particularly

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Sports Sponsorship, Broadcasting, Ott, Know-how, Governance And Business Information For The Sport Industry

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What teams never won Superbowl?

The 12 teams that have never won a Super Bowl are the Minnesota Vikings, Buffalo Bills, Cincinnati Bengals, Carolina Panthers, Atlanta Falcons, Los Angeles Chargers, Tennessee Titans, Arizona Cardinals, Cleveland Browns, Detroit Lions, Houston Texans, and the Jacksonville Jaguars.

Former NBA star Chris Webber … Read More

The Automotive Industry Is Making Driving Vehicles Way More Sustainable However Can It Do The Same For The Way Parts Are Moved?

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Mobility choices involving electrical and autonomous vehicles require billions … Read More