Latest news with #RachelLee
Yahoo
24-06-2025
- Business
- Yahoo
ESG Outlook: Rachel Lee of Hydefy on Alt Materials from Yellowstone National Park Fungi
ESG Outlook is Sourcing Journal's discussion series with industry executives to get their take on their company's latest environmental, social and governance initiatives and their own personal efforts toward sustainability. Here, Rachel Lee, general manager of materials company Hydefy, which has worked with Stella McCartney on a vegan alternative to leather, discusses leveraging Yellowstone National Park fungi to craft responsible materials. Name: Rachel LeeTitle: General ManagerCompany: Hydefy More from Sourcing Journal ESG Outlook: GOTS' Claudia Kersten on Catalyzing Systemic Change ESG Outlook: Reistor's Mehma Singh on Democratizing Conscious Fashion Catherine Chiu of Crystal Int'l Group on Unlocking Potential for Female Employees What do you consider your company's best ESG-related achievement over the last 5 years? Hydefy leverages fungi with origins in Yellowstone National Park to craft responsible materials. Using a proprietary fermentation technology, the company grows a new-to-the-world fungi and combines it with sugarcane waste-derived inputs to create durable, versatile textiles—entirely vegan, cruelty-free and made to move the world forward. Our biggest ESG achievement over the last five years has been building the company from the ground up and launching our inaugural product. What started as an idea and a lab experiment is now a tangible material on the runway. We're proud to offer a breakthrough textile that's animal-free and designed to reduce environmental impact. It's a meaningful step toward reshaping the future of fashion with more responsible choices for consumers and the planet. What is your company's latest ESG-related initiative? Because one ESG initiative isn't enough, we are actively focused on both supply chain optimization and material recyclability. On the supply chain front, we leverage existing manufacturing infrastructure. We like to say we use 'common polymer industry equipment in an uncommon way.' This innovation has allowed us to move quickly and scale efficiently, and now we're focused on streamlining further to minimize transportation and reduce impact. At the same time, we've demonstrated the recyclability of our materials in both lab and small-scale production settings. Our next phase is to integrate that recyclability more deeply into our operations. To guide and support these efforts, we are conducting a refreshed Life Cycle Assessment (LCA) to ensure our decisions are grounded in up-to-date, data-driven insights. What is the biggest misconception consumers have about sustainability in fashion/accessories? One of the biggest misconceptions is that sustainability in fashion is black and white; when in reality, it's anything but. Terms like 'natural,' 'bio-based' or 'plastic-free' are often seen as inherently good, while words like 'chemical' or 'synthetic' can spark negative reactions. While it's tempting to simplify and rally around certain principles, sustainability is far more complex and nuanced. For example, I've been asked whether our products contain chemicals. To which I would say: yes. All materials, even natural ones, are made of chemicals. Chemicals form the building blocks of virtually everything around us, including safe, high-performing materials. Similarly, not all plastics are created equal, and 'bio-based' doesn't always translate to lower environmental impact. At Hydefy, we try to bring more clarity and honesty to the conversation. We are trying to do our part to minimize the resources that we use and to think about the longevity and afterlife of what we create. It's about looking at the full picture—not just the buzzwords. What was your company's biggest takeaway from the COVID-19 crisis that is still relevant today? One of our biggest takeaways from the COVID crisis is the importance of adapting to broader tides, whether it's the global economy, shifting consumer sentiment or unexpected disruptions. We started building the product during the COVID pandemic. It was a black swan event that affected everything from being able to work in-person (critical for a physical product) to securing equipment in a timely manner. While the supply chain disruption and ways of working in-person have been resolved, the same principles of broader trends and having to adjust, whether riding the waves or hunkering down, still stand. That mindset is just as relevant today, especially as we navigate another complex macroeconomic environment. What do you consider to be the apparel industry's biggest missed opportunity related to securing meaningful change? The biggest missed opportunity is the failure to internalize environmental and social externalities into the true cost of doing business—from raw material extraction to final pricing. Today's system is designed to optimize short-term costs and returns, serving individual company metrics and shareholder value rather than the health of the overall ecosystem. This cost-blindness incentivizes overproduction and lower-than-true-cost-pricing, making it difficult for innovative materials to compete. As long as environmental damage, labor exploitation and product afterlife aren't reflected in the cost structure, there's little financial incentive to make different choices, even when better options exist. The opportunity lies in rethinking value creation. We need stronger private-public sector partnerships, where the government sets clear guardrails and accountability measures and private companies innovate within them. That's how we move beyond isolated efforts and drive meaningful, systemic change. What is your personal philosophy on shopping and caring for your clothes? I'm trying to move toward owning fewer, higher-quality pieces that last. That said, I admit I tend to hang on to clothes for too long. I have a bit of a hoarder's instinct and find it hard to part with clothes, even when I don't end up wearing them. I'm working on being better about letting go—slowly Marie Kondo-ing my closet—but it's a process! One thing I've started doing over the past few years is organizing dessert and clothing swap parties with friends, especially before big moves. We bring nice pieces that don't get much wear—often items we feel too attached to donate. It's great to see how something that no longer sparks joy for one person can become a favorite for someone else. And doing it within a group of friends makes it easier to part with pieces. It's a fun way to spend quality time while refreshing wardrobes. How much do you look into a brand's social or environmental practices before shopping? At a basic level, I usually check the tags and packaging—I tend to favor brands that use recycled materials, especially for things like polyester or nylon, where circular options are becoming more common. For consumables, I prefer refillable models and actively avoid single-use plastics whenever I can. When shopping online, I make an effort to consolidate orders—waiting until I have a list of things I need so I can minimize packaging and reduce the shipping footprint. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-06-2025
- Business
- Yahoo
Circulose and Mango Team Up to Scale Circular Cellulose
Swedish sustain-tech company Circulose has landed a pretty big partner in its quest to scale after rising from the ashes of its Renewcell past. The textile recycler has joined forces with Barcelona-based global fashion chain Mango to help them shift a meaningful share of their man-made cellulosic fiber use to those made with Circulose's proprietary material. Circulose is a regenerated material made from 100-percent recycled textile waste. Since returning to the market last year, Circulose has been focused on commercializing its circular product. More from Sourcing Journal Lenzing's Krishna Manda Addressed Circularity on the Global Fashion Summit Stage Re&Up Products Achieve C2C Certified Circularity ESG Outlook: Rachel Lee of Hydefy on Alt Materials from Yellowstone National Park Fungi 'We're proud to partner with the forward-thinking brand Mango and support their high ambitions in circularity,' said Jonatan Janmark, CEO of Circulose. 'Their strong commitment brings us one step closer to restarting the factory and sets a powerful example for the industry. We hope it will inspire other brands to follow their lead.' Circulose's commercial strategy focuses on forging close brand partnerships, introducing a new pricing model and offering expanded support services. The company developed its pricing model in collaboration with Fashion for Good and Canopy as part of a joint initiative to accelerate the shift to next-gen materials, requiring brands to license Circulose to use the fiber. The strategy was designed to reduce price friction and spur adoption at scale, transitioning from limited capsule collections to larger-scale usage. That license includes support services for large-scale implementation, such as transition planning, supply chain orchestration and traceability. Circulose recently forged a partnership with former Renewcell collaborator Tangshan Sanyou, a Chinese man-made cellulosic fiber manufacturer that was the first commercial producer of Circulose-based fibers under Renewcell's purview. Tangsan Sanyou was the first major partnership since Circulose's restructuring after it was acquired by Swedish private equity firm Altor in 2024. Mango's buy-in with Circulose comes at a time when the company is riding high after a 19 percent increase in EBITDA earnings and a 27 percent bump in net profit in 2024. The company recently reported that it had made significant progress toward achieving its goal of using 100 percent lower environmental impact fibers by 2030, reaching 72 percent. The Circulose partnership will help Mango make more headway in attaining that goal. 'We're proud to be the first brand to partner in Circulose's new phase and look forward to working closely together to advance our shared circularity goal,' said Andrés Fernández, sustainability and sourcing director at Mango. 'This collaboration marks a significant step on our sustainability roadmap as we strive to exclusively use fibres with lower environmental impact by 2030 and reflects our commitment to fostering a more circular and responsible fashion ecosystem, where innovation and environmental stewardship go hand in hand.'
Fashion Network
19-06-2025
- Business
- Fashion Network
China's 618 shopping festival sees slower momentum despite extended run
China's retail sector continues to struggle amid concerns over job stability, stagnant wage growth and the ongoing property crisis, leaving shoppers hesitant to splurge. Retailers and the government have attempted to revive muted consumer spending through deeper discounts and broader consumer subsidies. Although extending the sales period may support overall sales growth during this year's 618 period, analysts say that prolonged festivals and year-round promotions on e-commerce platforms have diminished enthusiasm for these events. "I don't have anything special to buy during the 618 shopping festival. Because there are always great deals, I can buy whatever I need whenever," said Xu Binqi, who works in Beijing's film industry. "Take skincare products, for example—I buy them whenever I run out, and the prices are no higher than during the 618 festival." Rachel Lee, general manager of market research firm Worldpanel China and co-author of Bain & Co.'s recent China Shopper Report, said that when consumers are budget-conscious, they opt for more affordable alternatives, making discounts less of a factor. "Standalone promotional discounts will find it increasingly difficult to drive volume growth," she said. Major e-commerce platforms have not disclosed overall sales figures for 618 in recent years. However, according to data provider Syntun, sales during the mid-year festival last year declined for the first time in 2024, down 7% to 742.8 billion yuan ($103.31 billion) compared to the previous year. This year, reported that the number of users placing orders during the 618 event more than doubled compared to the previous year, totaling over 2.2 billion orders across its online, offline and food delivery platforms. Alibaba stated that 453 brands surpassed 100 million yuan ($13.91 million) in gross merchandise volume (GMV) over the 618 period. Brands that exceeded 1 billion yuan in GMV included Apple, Xiaomi, Huawei, Nike, Adidas, L'Oréal and Lululemon, Alibaba added. GMV is a metric used by e-commerce companies that is roughly analogous to sales revenue.
Fashion Network
19-06-2025
- Business
- Fashion Network
China's 618 shopping festival sees slower momentum despite extended run
China's retail sector continues to struggle amid concerns over job stability, stagnant wage growth and the ongoing property crisis, leaving shoppers hesitant to splurge. Retailers and the government have attempted to revive muted consumer spending through deeper discounts and broader consumer subsidies. Although extending the sales period may support overall sales growth during this year's 618 period, analysts say that prolonged festivals and year-round promotions on e-commerce platforms have diminished enthusiasm for these events. "I don't have anything special to buy during the 618 shopping festival. Because there are always great deals, I can buy whatever I need whenever," said Xu Binqi, who works in Beijing's film industry. "Take skincare products, for example—I buy them whenever I run out, and the prices are no higher than during the 618 festival." Rachel Lee, general manager of market research firm Worldpanel China and co-author of Bain & Co.'s recent China Shopper Report, said that when consumers are budget-conscious, they opt for more affordable alternatives, making discounts less of a factor. "Standalone promotional discounts will find it increasingly difficult to drive volume growth," she said. Major e-commerce platforms have not disclosed overall sales figures for 618 in recent years. However, according to data provider Syntun, sales during the mid-year festival last year declined for the first time in 2024, down 7% to 742.8 billion yuan ($103.31 billion) compared to the previous year. This year, reported that the number of users placing orders during the 618 event more than doubled compared to the previous year, totaling over 2.2 billion orders across its online, offline and food delivery platforms. Alibaba stated that 453 brands surpassed 100 million yuan ($13.91 million) in gross merchandise volume (GMV) over the 618 period. Brands that exceeded 1 billion yuan in GMV included Apple, Xiaomi, Huawei, Nike, Adidas, L'Oréal and Lululemon, Alibaba added. GMV is a metric used by e-commerce companies that is roughly analogous to sales revenue.
Business of Fashion
19-06-2025
- Business
- Business of Fashion
China's Extended 618 Shopping Festival Fails to Stir Excitement
China's biggest mid-year shopping festival, 618, ended on Wednesday evening without much fanfare after more than a month of promotional events aimed at enticing consumers to part with more of their hard-earned money. Originally a single-day celebration marking the founding of e-commerce giant on June 18, the festival has expanded to include all e-commerce platforms with ever-lengthening sales periods. This year, presale for and Alibaba kicked off on May 13, making the shopping festival longer than a month. China's retail sector continues to struggle due to concerns over employment stability, stalled wage growth and the ongoing property crisis, leaving shoppers in no mood to splurge. Retailers and the government have sought to lift subdued spending by deepening discounts and expanding consumer subsidies. Though extending the sales period is likely to help overall sales growth for this year's 618 period, analysts say, longer festivals and year-round discounts on e-commerce platforms have dampened excitement for these kinds of events. 'I don't have anything special to buy during the 618 shopping festival. Because there are always great deals, I can buy whatever I need whenever,' said Xu Binqi, who works in Beijing's film industry. 'Take skincare products as an example, I buy them whenever I run out, and the prices are no higher than during the 618 festival.' Rachel Lee, general manager of market research firm Worldpanel China and co-author of Bain & Co.'s recent China Shopper Report, said that when consumers are budget-conscious, they seek affordable alternatives, and discounts play a lesser role. 'Standalone promotional discounts will find it increasingly difficult to drive volume growth,' she said. Major e-commerce platforms have not disclosed overall sales figures for 618 in recent years, but according to data provider Syntun, sales during the mid-year festival last year fell for the first time in 2024, down 7 percent at 742.8 billion yuan ($103.31 billion) from the year before. This year, said the number of users placing orders for the 618 event has more than doubled year-on-year, with over 2.2 billion orders across its online, offline and food delivery platforms. Alibaba said that 453 brands surpassed 100 million yuan ($13.91 million) in gross merchandise volume (GMV) over the 618 period. Brands that surpassed 1 billion yuan in GMV included Apple, Xiaomi, Huawei, Nike, Adidas, L'Oréal and Lululemon, Alibaba added. GMV is a metric used by e-commerce companies roughly analogous to sales revenue. Retail Growth, Subsidy Impact While the retail environment in China remains difficult, there are signs that consumption overall has picked up in recent months. Retail sales growth surpassed expectations in May, with official data showing a 6.4 percent increase, the fastest growth since December 2023. Analysts pointed to the earlier start of 618, along with government consumer subsidies for goods such as home appliances and mobile phones, as twin drivers. Jacob Cooke, co-founder and CEO of WPIC Marketing + Technologies, said the extended 618 festival front-loaded consumer demand, encouraging earlier spending and smoothing consumption trends into May. 'A longer 618 festival with low prices helps sustain engagement across weeks and has contributed materially to May's strong retail performance,' Cooke said. Analysts warn that a pause in subsidy programmes in several regions, as central government allocations dry up, could weigh on 618 sales and overall consumption this month, though more funds are likely to be allocated for those programmes in July. 'Rapid sales growth of key subsidy categories (such as home appliances) driven by the 618 shopping festival starting from quickly depleted funds,' HSBC analysts wrote in a note. 'Suspension of national subsidies in selected regions may affect 618 sales and June retail sales' the analysts added. Eve Wang, 32, reflected on the shift in spending habits: 'In the past, for example during events like Singles' Day and 618, I used to spend a lot of money on stockpiling goods, but now ... I only buy what I need.' Wang didn't participate in this year 618 shopping festival. 'I didn't buy anything at all.' By Sophie Yu, Casey Hall, Liangping Gao; Editor: Jacqueline Wong Learn more: China's Beats Quarterly Revenue Estimates E-commerce retailers like and Alibaba have begun discounting goods and cutting product prices to retain customers.
