News | August 29, 2019

Ruyi Group, As The Only Company From Mainland China, Has Signed A Fashion Pact With Leading Global Fashion And Textile Enterprises

PARIS--(BUSINESS WIRE)--

Thirty-two leading global fashion and textile companies gathered ahead of the 45th G7 meeting to sign the Fashion Pact as environmental protection and sustainable development has become one of the most critical topics of global development. They have committed to achieving practical objectives together in three areas: Climate, Biodiversity, and Oceans, aiming to reduce the environmental impact of the fashion and textile industry. By signing the Fashion Pact, participants and stakeholders across the industry hope to advance the sustainable development within the industry, foster a better relationship between the fashion and textile industry and environment, and ensure an overall sustainable socio-economic development.

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Ahead of the 2019 G7 Summit, 32 major global fashion and textile companies' representatives met at the Elysee Palace in France (Photo: Business Wire)

Ahead of the 2019 G7 Summit, 32 major global fashion and textile companies’ representatives met at the Elysee Palace in France (Photo: Business Wire)

Ruyi Group(002193.SZ)is the only company from Mainland China to sign the Fashion Pact. As the largest Group in China's textile industry, sustainable development has always been at the heart of Ruyi Group. From the environmentally friendly designs to sustainable production technology, Ruyi Group's vertical industrial chain has always aimed at sustainable development. With the belief of environmental protection, Ruyi Group is committed to a cleaner, safer, and greener sustainable fashion blueprint. The coalition brings together global leading companies who continue to drive sustainability in their respective fields. Ranging from Luxury, Fashion, to Sports and Lifestyle, the coalition brings together Groups, brands, suppliers and retailers in different fashion and textile sectors. After careful deliberation, the 32 companies agreed to sign the Fashion Pact based on changes and initiatives the industry could make in favor of environmental protection. The signing of the Fashion Pact is unprecedented in the industry with extraordinary significance.

As a representative company in China's fashion textile industry, Ruyi Group has long attached great importance to sustainable development and always integrating technological innovation with environmental protection. Ruyi Group has developed a Green Factory System, which is a combination of advanced production technology and digital technology. The Green Factory System consists of Green Design, Green Standard, Green Manufacturing, and Green supply-chain. What is even more remarkable is that Ruyi Group has built a "green supply chain+environmental textile circle" developmental pattern. This pattern is centering on low-carbon and environmental, based on the whole-process green design platform, assisted by “internet+green” technology, constructing a developmental model. By combining the brand enterprises, logistic platform, and finance capital, Ruyi Group has created a supply chain eco-circle of textile & apparel that are multi-field, platform shared, and symbiotic. It is because of Ruyi Group's emphasis and investment in environmental protection, makes Ruyi Group become the only Chinese mainland company invited to the alliance.

To date, the alliance includes (in alphabetical order):

ADIDAS, BESTSELLER, BURBERRY, CAPRI HOLDINGS LIMITED, CARREFOUR, CHANEL, ERMENEGILDO ZEGNA, EVERYBODY & EVERYONE, FASHION3, FUNG GROUP, GALERIES LAFAYETTE, GAP Inc., GIORGIO ARMANI, H&M GROUP, HERMES, INDITEX, KARL LAGERFELD KERING, LA REDOUTE, MATCHESFASHION.COM,MONCLER, NIKE, NORDSTROM, PRADA, PUMA, PVH Corp., RALPH LAUREN, RUYI, SALVATORE FERRAGAMO, SELFRIDGES GROUP, STELLA MCCARTNEY, TAPESTRY.

The Fashion Pact shares the initiatives with Science-Based Targets, which focuses on actions in three primary areas of earth protection:

Stop global warming: by creating and deploying an action plan for achieving the objective of zero greenhouse gas emissions by 2050, in order to keep global warming below a 1.5°C pathway between now and 2100.

Restore biodiversity: by achieving objectives that use Science-Based Targets to restore natural ecosystems and protect species.

Protect the oceans: by reducing the fashion industry’s negative impact on the world’s oceans through practical initiatives, such as gradually removing the usage of single-use plastics.

This is the first time the global fashion and textile industry pioneers get together and work towards a common goal. It also serves as a sustainable development template established by Ruyi Group for other domestic Chinese companies. More importantly, it is proof that globalization brings infinite opportunities to fashion and textile enterprises. The signing of the Fashion Pact marks the alliance as an authoritative model for all companies around the world who want to contribute to environmental protection.


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