Large companies are racing to become more sustainable and environmentally friendly. In the past, companies like Patagonia and REI have focused their marketing strategies on giving back to the earth. Now, non-outdoors sportswear companies are joining in on the breath of fresh air. Sports brand giant Adidas announced their new mission to only using recycled plastic by 2024.
Adidas stated that they are trying to use 100% recycled plastics by 2024 and environmentalists are ecstatic about it. They also said that they are planning on getting rid of virgin plastic (newly manufactured plastic) in their office and warehouse spaces.
Adidas may be hopping on the mother nature train because of their suspected increasing sales in a particular product. The German company suspects that their Parlay shoes will increase in sales during the upcoming quarters. All Parlay shoes are made from plastic waste that was captured on its way to open ocean waters. Sales are likely to increase to 5 million pairs by the end of this year. In 2017, 1 million pairs were sold. Adidas has also vowed that for the spring and summer of 2019, their entire apparel line will contain at most 41% of recycled polyester.
Other companies are taking the same environmental initiative including Stella McCartney, Starbucks, McDonald’s and many others.
Some of the plastic statistics are concerning. Research shows that the amount, relative to weight, of plastic in oceans will surpass fish. Throughout the past 50 years, plastic pollution has increased 20-fold over and scientists expect the contaminants to double in 20 years. Studies show that 14% of plastic is collected for recycling and the rest is wasted. Adidas believes that the new initiative will save around 40 tons of plastic annually. The initiative is gaining popularity.
Adidas’ stock price is down 12.6% from three months ago. The sports company hopes that their new mission will rejuvenate sales.
Featured Image via Wikipedia
Comment Template