FARFETCH and Good On You launch Good Measures, an innovative sustainability hub to help fashion brands do better
LONDON, U.K. June 29, 2022– FARFETCH Limited (NYSE: FTCH), the leading global platform for the luxury fashion industry and Good On You, the world’s trusted platform for sustainability ratings, today announce the launch of Good Measures. This first-of-its-kind sustainability hub for the fashion industry helps brands do better so consumers can buy better. Sustainability is challenging for brands of any size to navigate, and this new tool will make it simpler for them to achieve their goals.
The online hub gives brands a comprehensive view of their current sustainability rating and provides guidance on where they can improve. It makes customised suggestions for key actions that will improve their sustainability performance tailored to the specifics of each business, and where they are in their journey. Offering a unique combination of educational and strategic insights, Good Measures responds to brands’ need for a one-stop-solution to learn, prioritise actions and ultimately progress with their sustainability agenda while unlocking the commercial benefits of doing so.
Good Measures is grounded in Good On You’s industry-leading brand ratings, which are trusted by millions of consumers and global retailers as their benchmark for sustainability. Scoring fashion brands for their impacts across people, planet, and animals, Good On You’s rating system is rigorous and transparent—bringing together more than 500 data points including the most credible, independent standards and certifications, third-party indices (such as the Fashion Transparency Index and the CDP Climate Change and Water Security projects), and brands’ own public reporting.
With Good Measures, brands can deep dive into what’s driving their current rating across all major sustainability issues in fashion, get clear guidance on how to progress, and connect with expert organisations who can help. Through Good Measures, brands can also submit publicly disclosed information on their performance that allows them to get rated or re-rated by Good On You. A high enough rating will enable them to qualify for the FARFETCH Conscious Collection and benefit from the increased visibility that brings. According to FARFETCH's Conscious Luxury 2022 report, the sale of Conscious products on the Farfetch marketplace grew 1.8 times faster than the marketplace average in 2021.
The Positively FARFETCH strategy sets out FARFETCH’s role as an enabler of positive change in the industry. As part of that strategy, FARFETCH has set a 2030 goal for 100% of revenues to come from sales of Conscious products. To help meet this goal, Good Measures is available free of charge to all of FARFETCH’s brand partners, supporting the brands on the platform in understanding and improving their sustainability performance. The hub will launch publicly to the entire fashion industry later this year. Interested brands can register and express their interest to access it here.
Thomas Berry, Senior Director of Sustainable Business, FARFETCH said:
“One of the aims of our Positively FARFETCH strategy is to enable the brands we work with to make progress on sustainability and, ultimately, to help our customers to make positive choices. Our recent Conscious Luxury Trends report highlights the rapid increase in consumer interest in Conscious products and Good Measures will help our brand partners become more sustainable and also take advantage of these positive consumer demands.”
“Good On You has been a fantastic partner to work with over the last few years - they have rapidly become the leading platform for fashion sustainability ratings. It made perfect sense to partner with them to create Good Measures, a much-needed tool to equip our partners and consequently the whole industry, to become more sustainable.”
Sandra Capponi, Co-Founder, Good On You, said:
“Having rated thousands of fashion brands over the years, Good On You understands the many challenges brands face. We designed Good Measures to make it simple for brands big and small to manage and improve their impact and reach the growing number of consumers who care.”
“Good Measures is not about reinventing the wheel. It's about bringing together the fashion industry and providing a unified, trusted view of sustainability knowledge for brands. By helping brands be more transparent about their progress, we're empowering consumers to make better choices. That’s why we teamed up with FARFETCH, because we share this vision for a more sustainable future.”
ENDS
About FARFETCH
FARFETCH Limited (NYSE: FTCH) is the leading global platform for the luxury fashion industry. Founded in 2007 by José Neves for the love of fashion, and launched in 2008, FARFETCH began as an e-commerce marketplace for luxury boutiques around the world. Today, the FARFETCH Marketplace connects customers in over 190 countries and territories with items from more than 50 countries and more than 1,400 of the world’s best brands, boutiques and department stores, delivering a truly unique shopping experience and access to the most extensive selection of luxury on a single platform. FARFETCH’s additional businesses include Browns and Stadium Goods, which offer luxury products to consumers, and New Guards Group, a platform for the development of global fashion brands. FARFETCH offers its broad range of consumer-facing channels and enterprise level solutions to the luxury industry under its Luxury New Retail initiative. The Luxury New Retail initiative also encompasses Farfetch Platform Solutions, which services enterprise clients with e-commerce and technology capabilities, and Future Retail, which develops innovations such as our Connected Retail solutions.
For more information, please visit farfetchinvestors.com
About Good On You
Good On You is the world’s leading platform for sustainability ratings, starting in fashion. Founded by Gordon Renouf and Sandra Capponi in 2015, Good On You is now the go-to source for millions of consumers who use our web and mobile apps to check more than 3,500 brands ratings. At the heart of what we do is the belief that consumers have a right to know how brands impact the issues they care about—and it should be as easy as checking a product’s price tag. We make that possible through technology that helps brands do better and consumers buy better. In addition to offering Good Measures, the sustainability hub for brands, Good On You also provides one-of-a-kind ratings tech solutions, which are used by companies including FARFETCH, Microsoft, Klarna, and YOOX Net-a-Porter. Good On You is endorsed by leading industry and civil society bodies and trusted by advocates including Emma Watson.
For more information, please visit goodonyou.eco
Media Contacts:
FARFETCH
Susannah Clark
SVP Communications
susannah.clark@farfetch.com
Brunswick Group
farfetch@brunswickgroup.com
Good on You
media@goodonyou.eco