The Future is Circular
The video "The Future is Circular | DELIVER Europe 2024" features a panel discussion on circularity in the retail and supply chain sectors. The panelists include Amy-Marie Allen, Head of Fulfilment, Supply Chain, Selfridges; Laurence Fontinoy, Head of Circularity, Decathlon; and Stephanie Crespin, Founder & CEO, Reflaunt.com
Key Points:
-
Selfridges' Circularity Journey: Amy Allen discusses how Selfridges, a luxury retailer, is focusing on sustainability and circularity, aiming for carbon net-zero by 2040. They have implemented circular business models and material pledges to make their operations more sustainable.
-
Decathlon’s Circularity Models: Laurence shares how Decathlon integrates circularity into its strategy with models like second-hand product buyback, rentals, and subscriptions. They focus on repair, recycling, and refurbishing products to create a sustainable cycle. This approach promotes customer loyalty and reduces costs.
-
Reflaunt’s Role in Circular Fashion: Stephanie Crespin talks about Reflaunt, a B2B fashion tech startup that helps brands like Balenciaga and Net-a-Porter implement resale and circular models. Reflaunt connects first-hand and second-hand markets, allowing customers to sell pre-owned items directly through the brand’s platform, thus enhancing customer engagement and promoting loyalty.
Challenges and Opportunities:
- Circularity can drive both profitability and sustainability if done properly. The panelists emphasise the importance of integrating circularity into business models without siloing it from other operations. They highlight how circularity can drive customer loyalty, acquisition of new customers, and product lifecycle extension.
Advice for Retailers:
The panel advises retailers to avoid treating circularity as a standalone initiative. It should be integrated into the broader business strategy to ensure profitability and long-term success. The discussion concludes with an emphasis on collaboration across all sectors of the business to make circularity a core part of retail operations.
