The ‘Reselfridges’ initiative will form the backbone of its future business, said the luxury retailer
Project Earth launched in August 2020 and the new targets were unveiled as part of Selfridges' first annual Project Earth Report
Selfridges has introduced new sustainability targets, pledging that 45% of transactions will come from circular products and services by 2030.
The luxury retailer, whose purchase by Central Group and Signa Holding from Canada’s Weston family is currently in the pipeline, announced the ambitious goal as part of its first annual Project Earth Report.
Project Earth is described as Selfridges’ transformational sustainability strategy and launched in August 2020.
To hit this 45% target across its four stores and online, Selfridges has renewed its ‘Reselfridges’ initiative, which houses all circular models and is said to form the backbone of the retailer’s future business.
Via Reselfridges, the store has already sold more than 8,000 refills. This figure sits alongside non-beauty eco milestones, including facilitating more than 28,000 repairs.
Selfridges said it would continue to experiment with and invest in alternative shopping models under Reselfridges that focus on extending the life of existing products and packaging.
"In creating our store of tomorrow we must commit to a fundamental shift in the way we do business and use the Selfridges platform for change," said Andrew Keith, Managing Director, Selfridges.
"Our vision is to reinvent retail and create a more sustainable future, and Project Earth and our new targets underpin this."
In addition to transforming its models, Selfridges has committed to ensuring that nine of the most environmentally impactful materials will come from certified sustainable sources by set deadlines.
In a move most likely to impact apparel, 50% of polyester used across the business and in products sold will come from certified recycled sources by 2025, while 50% of nylon will likewise come from certified recycled sources by 2027.
Finally, in a bid to build a more inclusive culture, Selfridges has committed to ensuring 50% of director roles are held by women by 2025.
It has pledged to close the gender pay gap and will further allocate 16% of senior leadership team positions to ethnic minorities.
The retailer’s announcement follows last month’s news that Selfridges Group Managing Director since 2019, Anne Pitcher, will leave at the end of the year following the completion of Selfridges’ sale.
Pitcher will be replaced by Stefano Della Valle, CEO of Central and Signa’s department store group in Europe.