Ralph Lauren is an iconic brand, that has been around virtually forever. In spite of this, we want to look at what kinds of initiatives make this historic brand more sustainable.
So, How Sustainable is Ralph Lauren?
Leading clothing and apparel maker Ralph Lauren has started adopting a greener policy which is said to provide sustainable policies that are focusing on reducing souring of wood for fabrics such as Viscose, Rayon and more, from already-endangered forests.
Ralph Lauren teamed up with environmental company Rainforest Action Network (RAN) to determine the new insurance plan on wood-based fabric.
RAN currently manages an “Out of Fashion” marketing campaign, which raises recognition about questionable wood-based fabrics and exactly how they adversely impact endangered forests and human being protection under the law. Ralph Lauren joins other major brands, including H&M, Levi Strauss & Co., and Zara, which may have focused on more lasting sourcing for wood-based materials.
How sustainable is Ralph Lauren? We must understand that the idea that profitability can go hand in hand with the responsibility we have to the environment can either mean lack of sustainability or a reduced turnaround. It’s important to note one thing, since the company’s “sustainable” living program and its rebranding, the company has grown has received growth of over 50%; this growth is actually much faster than any of their competing brands.
Ralph Lauren doesn’t take sustainability as a burden but as an opportunity to provide for the eco-conscious consumer base and company. This is a branding strategy which is not only bringing their products forward into the market but is also allowing them factor in sustainability and move towards growth.
Ethical Manufacturing Transition
“Part of a broader initiative to establish a traceability, risk assessment and verification framework for raw materials that we use” Halide Alagoz said.
Ralph Lauren’s new insurance plan will send a note to providers in Indonesia and other countries, where textile pulp development has adversely impacted forest-dependent areas.
The coverage will also prevent land-grabbing, which includes being in charge of over 20 conditions of property discord among Indigenous people and international companies that use traditional forests.
A lot of Business is at Stake
Generally speaking, it’s a massive financial risk to companies when it comes to deforestation, this risk can be as much as $906 Billion dollars in total so going for a sustainability policy can be in the company’s favor.
Unilever has the first-hand experience when it comes to making money by making its sustainability credentials clear; it’s actually one of the few companies that generate a billion dollars or more with its sustainability product line and services.
The company generated sales of $56 Billion dollars in 2015, had a reported 30 percent faster growth for its sustainable living brands compared to the rest of its businesses.
Sustainability isn’t something that provides companies crippling loss, it’s something that launches company growth and accelerates it as well.
“This initiative demonstrates Ralph Lauren’s commitment to the environment with responsible and traceable sourcing, which we believe will create a positive impact on ecosystems and global communities,” Halide Alagroz said.
Conclusively, this initiative has not only aided the growth of the company but has provided a more ethically sound strategy for the company moving forward.