ESG #Stocks
- #Sustainability and Social Outreach a Priority for (OTCQB: $GFTX) (NASDAQ:
$CTAS) (NYSE: $ARMK) (NASDAQ: $SGC)
Point Roberts WA, Delta BC – September 24,
2019 - Investorideas.com,
a leading investor news resources covering sports and retail stocks releases a
sector snapshot reporting on the growing focus towards community & social
outreach as well as sustainable practices in the textile and apparel
industries.
In recent news, “Sustainability
has gained a lot of traction in the textile industry over the last few years.
Purchase decisions are no longer only made on the basis of fashion and comfort.
Consumers are increasingly demanding more eco-friendly textiles.”
The article
continued, “In contrast to paper, aluminum or steel, there is no credible
recycling concept for the billions of tonnes of fast fashion items sold every
year, mainly from non-biodegradable fibres. Each year about 60 million tonnes
of new fibres are used to make garments, and no plausible concept exists on
what to do with them when they are no longer needed. As a result,
three-quarters of these products are disposed of in landfills or incineration
plants. The textile industry is a major source of greenhouse gas emissions due
to its production technologies and transportation. Studies calculating the
sector’s CO2 emissions were first published only recently.”
With this
growing attention towards sustainable solutions in the broader textile market,
there is a need to create and implement meaningful solutions across a range of
market segments. Global Fiber
Technologies Inc. (OTCQB:GFTX) and
Regent Apparel are announcing a collaboration to create a solution in the
uniform apparel and napery segments.
Global
Fiber Technologies, Inc. is a publicly traded fiber technology company founded
in 2016 and headquartered in New Jersey that is dedicated to helping the world
by utilizing their portfolio of technologies to create a cleaner, greener and
more efficient world for the textile industry.
Read
this in full at https://www.investorideas.com/news/2019/renewable-energy/09241Sustainability-SocialOutreach.asp
“This
collaboration will utilize the strengths of each company to tailor a
sustainability solution that meets the needs in the hospitality industry,” said
Paul Serbiak, CEO of GFTX, who went on to say, “We look forward to
collaborating to build products that deliver on the vision of a more
sustainable future for this important market segment.”
Family-owned Regent
Apparel has almost a century of experience manufacturing uniforms for
businesses throughout the country. Their uniform take-back program will divert
thousands of pounds of textiles from landfills and redirect them to GFTX to
utilize their innovative technology to provide truly circular solutions to its
customers.
“As a
manufacturer of tangible products, we believe we have a responsibility to
identify sustainable end-of-lifecycle product management tools,” said Alexis
Miller Lettis, Regent’s VP & Director of Sustainability. “Our customers are
increasingly looking for ways to operate more sustainably and we are very
excited about GFTX’s ability to up-cycle our products.”
Chris
Giordano, Global’s President and Chairman said: “We are extremely enthusiastic
and eager to start working with a group like Regent. Regent has been a leader
in the uniform space for over 95 years and has a reputation for producing very
high-quality merchandise. They are also a very forward-thinking company
dedicated to the idea of helping make the earth a better place by offering
sustainable products to the corporate uniform market. Our proprietary
technology will be important to the collaboration between us and to the
industry in the years to come. We very much look forward to working with the
Regent team to create co-branded sustainable products together.”
Earlier in the
year, Cintas Corporation (NASDAQ:
CTAS) announced its
collaboration with JW Marriott, part of Marriott International, Inc., which
debut a new collection of wardrobe essentials across 51 of the brand's hotels
worldwide. In addition to the new collection launch, JW Marriott properties in
the US participated in a unique garment-recycling program managed by Cintas
that responsibly reuses the brand's retired uniform line.
"We are
excited about the new wardrobe launch as it will give JW Marriott associates
the opportunity to mix and match garments that best fit their job function,
personality and style preferences," said Mitzi Gaskins, Vice President and
Global Brand Leader of JW Marriott. "JW Marriott's participation in
Cintas' garment-recycling program aligns perfectly with our commitment to
sustainable practices and will help support key eco-friendly brand-wide
initiatives."
Approximately
10,000 associates were outfitted in the new collection, which includes Chef
Works and Design Collective by Cintas garments. Prior to the debut, Cintas
worked closely with JW Marriott to solicit hotel associate feedback regarding
wardrobe design concepts to ensure that each piece was both functional and
fashionable. Drawing inspiration from JW Marriott's brand color palette, the
collection incorporated neutral greys with accents of a warm blush present
throughout a variety of silhouettes including soft blouses, tailored suits and
sophisticated printed dresses.
"Prints have
been the cornerstone of many apparel collections over the last 18 months and
continue to take center stage," said Jeff Marino, Creative Director at
Cintas. "The floral print design that we created for the crepe dress and
blouse is inspired by vintage Japanese watercolor paintings. It is the perfect
representation of high fashion meets brand vision."
JW Marriott's
garment recycling program, which took place through May 31, 2019 was available
across 26 JW Marriott hotels based in the US. Through this sustainable program,
hotels collected the retired uniforms in the boxes used to ship the new garments,
each capable of holding 25-30 pounds of textiles. Once received by Cintas, the
uniform provider worked with Leigh Fibers, Inc., a leader in managing textile
waste, to shred garments and repurpose the remaining fibers for future use.
"Because JW
Marriott associates provided insightful feedback about fit and functionality
during the design process, they really helped us curate the best collection
possible for the brand," said Jenn Pampenella, Global Account Manager,
Cintas Corporation. "Cintas and Marriott also worked closely to bring our
shared commitment to sustainability to the program. Our garment recycling
program will allow JW Marriott's US hotels to divert textile waste from our
nation's already strained landfills."
Not only are companies looking at recycling programs
and sustainability but also at their social and community responsibilities.
Recently, more than 12,000 Aramark (NYSE:
ARMK) team members across the globe volunteered
their time at 350 service projects in 15 countries
during Aramark’s annual day of community service, Aramark Building Community
Day (ABC Day). This year, Aramark joined the National Football
League’s (NFL) Huddle for 100, a
volunteer campaign that encourages fans to partner with them, the players and
teams to donate 100 minutes of time, to help shape local communities for the
next 100 years, with the goal of reaching 100 million minutes.
Aramark volunteers
logged more than two million minutes in the day - lending their time, energy
and expertise at service projects in the United States, Canada, China, Korea,
Mexico, Czech Republic, Germany and the United Kingdom to bring health and
wellness education and workforce readiness programs to community members.
“One day each year,
we come together for our annual global day of service,” said Lynn B. McKee,
Executive Vice President of Human Resources at Aramark. “Aramark Building
Community Day demonstrates our year round commitment to enriching and
nourishing lives. Today, thousands of our employees will volunteer together to
build healthier communities and achieve our goal of creating long-lasting
impact.”
“Aramark is the
exclusive NFL retail merchandiser for special events and is the food, beverage,
retail and facilities partner of 14 NFL teams, so we are especially excited
this year to team up in Huddle for 100,” said Carl Mittleman, President of
Aramark’s Sports & Entertainment business. “Today alone, our team members
expect to volunteer millions of minutes in their local communities and we will
continue to log our time throughout the rest of the year.”
Superior
Group of Companies® (NASDAQ:
SGC),
who recently
announced Michael
Attinella, Chief Financial Officer and Treasurer will be presenting at the Fall
Investor Summit at the JW Marriott Essex House, New York on September 16, is
one other company working towards better manufacturing practices.
Superior Group of
Companies and its family of brands have had a long-standing commitment to
Corporate Social Responsibility initiatives, which since 2011 includes
partnering with the Salvadoran Foundation for Health and Human Development
(FUSAL). Their program, “Libras de Amor” (translated: “Pounds of Love”), is
focused on reducing malnutrition in children, and creating a self-sustaining
environment for families in high-risk communities in El Salvador.
In the past 15
years, SGC has also donated over 1.5 million articles of clothing to various
foundations and missions all over the world, including FUSAL, Provision
International, and other organizations. In 2017 alone, working alongside
various organizations, Superior Group of Companies and its divisions have
donated over 60,350 garments to areas throughout Central America and the
Caribbean. A core portion of those garments are used in sewing training
centers, which take the adult-sized garments and cut them down into clothing
for school age children.
In response to the
devastation in Houston caused by Hurricane Harvey, SGC opened their
distribution center in Eudora, AR as a clothing donation drop-off site. In
total, the Company successfully donated over 25,000 garments to the victims of
the hurricane in Houston and its surrounding areas.
Not
only is sustainability gaining traction in North America, but also globally as one article
stated. “Sustainability has also slowly begun to gain in importance in other
parts of the world, especially Asia. This is important because 2018 was a
milestone. For the first time in history, more
than half of apparel and footwear sales were generated outside of Europe and North America. If we want
to make the textile industry a greener one, we need to support sustainability,
especially in emerging markets across Asia-Pacific, Latin America and other
regions.”
As we
see this initiative grow globally, companies working on new garment recycling
programs and textile reusability may have the chance to gain consumer
favoritism as awareness and the demand for “green clothing” increases.
For investors following food & beverage
stocks and Health, Wellness & Sustainability stocks, InvestorIdeas.com has
created stock directories to research each sector. Learn more about our
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