Home World Inditex, ECI, Mango and other companies in the sector prepare a €14,000...

Inditex, ECI, Mango and other companies in the sector prepare a €14,000 million plan for digitization and sustainability

Inditex, ECI, Mango and other companies in the sector prepare a €14,000 million plan for digitization and sustainability

Companies in the textile sector in Spain are preparing to develop 10 projects based on sustainability and digitization for seven years. Among the participating companies we can find large firms in the sector such as Inditex, El Corte Inglés or Mango.

The newspaper “Expansion» has been the first to publish some information about this project, such as the amount of money they will need. It will be a total of 14,000 euros that will come from private investments (10,000 euros) and European aid (4,000 euros); the latter is probably from the community program Next Generation.

The projects that will be developed with this money will be focused on: Scrapselection and preparation of textile waste, recycling, materials market, ecodesign, traceability, industrial processes, competitiveness, observatory and cross-sector initiatives.

On moda.es A statement from a source close to the project has been shared: “It is a historic opportunity to reindustrialize this sector, but no one guarantees that this industry will come to Spain; we compete with Portugal or Turkey, which already have plans underway backed by the Government”.

The fashion industry is facing a tough recovery

Sales of fashion garments and accessories have ended 2021 with a annual drop of 13.1%, still blaming the health crisis for the resultsaccording to barometer data from the Business Association of Textile Trade, Accessories and Leather (Acotex). Compared to the results recorded before 2019, prior to the start of the pandemic, andhe collapse of textiles stands at 35.7%.

Acotex has advanced that 2022 will also be “very complicated” for the textile sector. The increases in electricity, as well as the problems of raw materials and logistics will continue to make it difficult for the sector to obtain profits.

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