Exciting New Update to the Trace Platform and More!

Happy Thursday!

We’re excited to kick off our newsletter this week with a special announcement about updates we’ve made to the Trace platform! 

Additionally, we’ll continue conversations around recent sustainable fashion news such as the approval of new regulations in the EU around ecodesign and deep dive into circular economy principles.

 Thanks for reading!

Update from Trace

As we’ve mentioned, Trace aims to promote supply chain transparency within the fashion industry! One way we’re doing that is partnering with truly sustainable small and medium sized businesses and helping them educate their customers on key sustainability metrics. 

So far we’ve spotlighted many of our sustainable brand partners but as of today, you’ll be able to see key transparency data points for all of our brands such as: 

1. Fabric

2. Social Impact related Causes

3. Origin 

Additionally, we will be sharing our unique Trace material rating, which evaluates products on various sustainability factors of the material such as whether the product is recyclable or biodegradable. For full insight on how we built our rating scale, please check out our product scoring guide. 

We’re extremely excited to launch this new feature as it will be a huge step for brands looking to tell their story and for consumers who are looking for truly sustainable products and want to know the impact of their purchase in an easy-to-understand way! 

Visit our marketplace now to check it out.

Headlines

On May 27, 2024, the European Council gave its final approval to the Ecodesign for Sustainable Products Regulation (ESPR). This regulation is a significant update from past regulations in this space, expanding its scope beyond energy-related products to cover a wide range of products sold in the EU market.

Key features of the new regulation include:

• Sustainable Product Requirements: The regulation mandates product durability, reusability, upgradability, and reparability. It also sets rules on energy and resource efficiency, the use of recycled content, remanufacturing, recycling, and limits on substances that inhibit circularity.

• Digital Product Passport: Products will need to include a Digital Product Passport, which provides essential information to consumers and helps track the product’s lifecycle.

• Ban on Destruction of Unsold Goods: There is a direct ban on the destruction of unsold textiles and footwear, with SMEs temporarily excluded. 

• Public Procurement: The regulation includes ecodesign criteria for public procurement to encourage the purchase of sustainable products by public authorities.
  

The regulation is expected to enter into force by July 2024 although specific Ecodesign requirements will most likely not be released until 2025. Read more here.

Analysis of the Week

Through Trace, we hope to promote circular economy through the brands we partner with as well as through the education of consumers. 

What is circular economy? 

Circular economy is a model which aims to eliminate waste and slow climate change by keeping materials, products and services in circulation for as long as possible through sharing, leasing, reusing, recycling etc. 

There are three defining principles of circular economy. Let’s analyze each one and how it could be applied within the fashion industry: 

Innovation in Fashion

Seamm - Seamm offers a unique B2C Phigital marketplace, ensuring every physical purchase comes with a digital twin. With innovative features like AR try-on and customization, they cater to both individual style enthusiasts and fashion brands. 

Netvirta - Netvirta is the smarter sizing solution that uses 3D scanning to help consumers and brands minimize returns by allowing customers to better find their perfect fit 

Caastle - CaaStle provides technology, reverse logistics, and services to help retailers, brands, digital communities, and content creators participate in the new economy.