Are business models at odds with sustainability: Landmark Group


January 9, 2023 | By Rupkatha B

  • 120 billion new garments are made every year…of which 30% are worn only once and only 1% is recycled
  • Fashion retail is among top 5 polluters globally
  • Enough waste is being generated by the fast furniture retail segment to go to the moon and back every 6 months

…even as 56% Arab youth are expected to shun a brand that’s not environmentally responsible.

It raises a serious question – are business models at odds with sustainability, observed Rajesh Garg, Group CFO, Landmark Group during a session at the Middle East Retail Forum (MRF) 2022.

Watch the full session video here.

So, what’s the solution?

“At Landmark Group we strongly believe that it’s much easier to fix the planet than ruin it. That’s why some of our brands embarked on the sustainability journey quite some time ago. For example, 92% of Splash’s products are sustainably and responsibly sourced,” Garg shared.

“We’ve remained steadfast in our commitment towards saving energy consumption, reducing waste across our facilities. We’ve successfully saved 10% energy across our 2,000+ stores. Interestingly, this has resulted in considerable cost saving,” he added.

However, along the way the Group also realised that it’s difficult to manage what’s not being measured.

“So, we created an end-to-end carbon accounting model linked with our ERP system that enables end-to-end tracking of products – from sourcing to shipping – to build comprehensive carbon statements. We firmly believe that within next 5-7 years a company’s carbon statement might become more crucial than the financial statement,” Garg emphasised.

What the future holds?

“We want to be a climate-positive circular business, and we plan to achieve this through sustainable products, sustainable operations and sustainable customer journey,” Garg concluded.

 

You can read more sustainability focused articles here

Comments

comments

Previous Article Next Article

SHARE

YOU MAY ALSO LIKE /


Géant opens two new stores in the UAE

Géant, part of GMG, recently opened two new stores. The brand has 

Continue Reading

March 28, 2023 | By RetailME Bureau
GMG launches four state-of-the-art food manufacturing factories

UAE-based diversified family business GMG has launched four state-of-the-art manufacturing facilities in 

Continue Reading

March 22, 2023 | By RetailME Bureau
Are grocery retailers Ramadan ready?

The growth opportunity for food and grocery retailers during the Holy Month 

Continue Reading

March 22, 2023 | By Rupkatha B
GMG retail stores enable customers to embrace the spirit of Ramadan

From value, variety and convenience to philanthropy GMG retail stores, including 16 

Continue Reading

March 20, 2023 | By RetailME Bureau
Maggi to launch its first-ever NFTs

MAGGI from the house of the Nestlé is all set to launch 

Continue Reading

March 15, 2023 | By RetailME Bureau
Saudi consumers to increase spending on grocery and household items

What does 2023 look like for consumers in Saudi Arabia? A Nielsen 

Continue Reading

March 7, 2023 | By RetailME Bureau
Union Coop announces mega discounts on 10,000 products ahead of Ramadan

Dubai-based food & grocery retailer Union Coop has launched its discount campaign 

Continue Reading

March 6, 2023 | By RetailME Bureau
This brand’s mission to make every day ‘fruitful’

Around eight years ago in 2015 a brand called Fruitful Day was 

Continue Reading

March 2, 2023 | By Rupkatha B
How Jumia is empowering a new generation in Africa

Technology has the potential to transform everyday life in Africa for the 

Continue Reading

March 1, 2023 | By Rupkatha B
As inflation bites…grocery retail

Looking at the regional food retail landscape, one can’t ignore the fundamental 

Continue Reading

February 28, 2023 | By Rupkatha B
V. Nandakumar, Director – Marketing & Communications, Lulu Group International

In the early 1970s when large-scale oil exploration activities started, the UAE 

Continue Reading

February 17, 2023 | By Rupkatha B
Waitrose unveils revamped Dubai Mall store sporting new features

Waitrose & Partners UAE has renovated its 45,770 sqft Dubai Mall store 

Continue Reading

February 16, 2023 | By RetailME Bureau




Download Images RetailME Magazine