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Business Standard
2 days ago
- Business
- Business Standard
Nestle to name ex-Zara chief Pablo Isla as next chairman in April 2026
Swiss food giant Nestle said on Wednesday it would propose vice chairman Pablo Isla to be its next chairman as it announced that current chair and company veteran Paul Bulcke will step down in April 2026. Bulcke, a 70-year-old Belgian and Swiss national who has been chairman of the board since April 2017, joined Nestle in 1979 and served as the company's CEO from 2008 to 2016. Isla, a Spaniard who was CEO of Zara owner Inditex from 2005 to 2011 and chairman and CEO of Inditex from 2011 to 2022, joined Nestle's board of directors in 2018.
Yahoo
2 days ago
- Business
- Yahoo
Nestle nominates ex-Zara boss Isla to replace Paul Bulcke as chair from next year
ZURICH (Reuters) -Swiss food giant Nestle said on Wednesday it would propose vice chairman Pablo Isla to be its next chairman as it announced that current chair and company veteran Paul Bulcke will step down in April 2026. Bulcke, a 70-year-old Belgian and Swiss national who has been chairman of the board since April 2017, joined Nestle in 1979 and served as the company's CEO from 2008 to 2016. Isla, a Spaniard who was CEO of Zara owner Inditex from 2005 to 2011 and chairman and CEO of Inditex from 2011 to 2022, joined Nestle's board of directors in 2018.
Fashion Network
4 days ago
- Business
- Fashion Network
Fast-fashion retailer Shein's transport emissions jump 13.7% in 2024
Shein 's carbon emissions from transporting products climbed 13.7% in 2024, the online fast-fashion retailer's sustainability report showed on Friday, and its 2023 transport emissions were 18% higher than previously reported after a recalculation. Shein uses mainly air freight to send cheap clothes directly from suppliers in China to shoppers around the world, a more carbon-intensive supply chain model compared with traditional apparel retailers that ship more of their products on container vessels. Shein said it plans to produce, package, and ship closer to its customers as a way to lower emissions and cut delivery times and shipping costs. It increased its use of sea freight and trucking in 2024, according to the report. Emissions from transporting products to and between Shein facilities, and to customers, including returns, were 8.52 million metric tons of CO2 equivalent in 2024, up from 7.49 million metric tons of CO2e in 2023, according to the report. Shein's transport emissions for 2024 are more than three times those of Zara owner Inditex, which reported 2.61 million tons of CO2e for its 2024 financial year. Shein said its 2023 emissions were recalculated after an update to its methodology. Last year it reported a 2023 figure of 6.35 million metric tons. Founded in China and headquartered in Singapore, Shein sources most of its products from 7,000 suppliers in China, but also has a growing network of suppliers in Brazil and Turkey. Steep tariffs imposed by the United States on Chinese goods have made it more urgent for Shein to diversify its supplier base, as the U.S. is its biggest market. The company aims to go public and has shifted its focus to a Hong Kong initial public offering after failing to win Chinese securities' regulatory approval to proceed with a planned London listing. Shein's emissions reduction targets, approved last month by the Science-Based Targets Initiative, are for a 25% reduction in Scope 3 (indirect) emissions by 2030, compared with 2023.
Fashion Network
5 days ago
- Business
- Fashion Network
Fast-fashion retailer Shein's transport emissions jump 13.7% in 2024
Shein 's carbon emissions from transporting products climbed 13.7% in 2024, the online fast-fashion retailer's sustainability report showed on Friday, and its 2023 transport emissions were 18% higher than previously reported after a recalculation. Shein uses mainly air freight to send cheap clothes directly from suppliers in China to shoppers around the world, a more carbon-intensive supply chain model compared with traditional apparel retailers that ship more of their products on container vessels. Shein said it plans to produce, package, and ship closer to its customers as a way to lower emissions and cut delivery times and shipping costs. It increased its use of sea freight and trucking in 2024, according to the report. Emissions from transporting products to and between Shein facilities, and to customers, including returns, were 8.52 million metric tons of CO2 equivalent in 2024, up from 7.49 million metric tons of CO2e in 2023, according to the report. Shein's transport emissions for 2024 are more than three times those of Zara owner Inditex, which reported 2.61 million tons of CO2e for its 2024 financial year. Shein said its 2023 emissions were recalculated after an update to its methodology. Last year it reported a 2023 figure of 6.35 million metric tons. Founded in China and headquartered in Singapore, Shein sources most of its products from 7,000 suppliers in China, but also has a growing network of suppliers in Brazil and Turkey. Steep tariffs imposed by the United States on Chinese goods have made it more urgent for Shein to diversify its supplier base, as the U.S. is its biggest market. The company aims to go public and has shifted its focus to a Hong Kong initial public offering after failing to win Chinese securities' regulatory approval to proceed with a planned London listing. Shein's emissions reduction targets, approved last month by the Science-Based Targets Initiative, are for a 25% reduction in Scope 3 (indirect) emissions by 2030, compared with 2023. © Thomson Reuters 2025 All rights reserved.
Fashion Network
5 days ago
- Business
- Fashion Network
Fast-fashion retailer Shein's transport emissions jump 13.7% in 2024
Shein 's carbon emissions from transporting products climbed 13.7% in 2024, the online fast-fashion retailer's sustainability report showed on Friday, and its 2023 transport emissions were 18% higher than previously reported after a recalculation. Shein uses mainly air freight to send cheap clothes directly from suppliers in China to shoppers around the world, a more carbon-intensive supply chain model compared with traditional apparel retailers that ship more of their products on container vessels. Shein said it plans to produce, package, and ship closer to its customers as a way to lower emissions and cut delivery times and shipping costs. It increased its use of sea freight and trucking in 2024, according to the report. Emissions from transporting products to and between Shein facilities, and to customers, including returns, were 8.52 million metric tons of CO2 equivalent in 2024, up from 7.49 million metric tons of CO2e in 2023, according to the report. Shein's transport emissions for 2024 are more than three times those of Zara owner Inditex, which reported 2.61 million tons of CO2e for its 2024 financial year. Shein said its 2023 emissions were recalculated after an update to its methodology. Last year it reported a 2023 figure of 6.35 million metric tons. Founded in China and headquartered in Singapore, Shein sources most of its products from 7,000 suppliers in China, but also has a growing network of suppliers in Brazil and Turkey. Steep tariffs imposed by the United States on Chinese goods have made it more urgent for Shein to diversify its supplier base, as the U.S. is its biggest market. The company aims to go public and has shifted its focus to a Hong Kong initial public offering after failing to win Chinese securities' regulatory approval to proceed with a planned London listing. Shein's emissions reduction targets, approved last month by the Science-Based Targets Initiative, are for a 25% reduction in Scope 3 (indirect) emissions by 2030, compared with 2023.
