2022 SRM Research Report - Building Resilience

Pressio has chosen State of Flux’s SupplierBase technology to help it back the claims it and its suppliers make around their environmental and social credentials; and to keep track as it grows. “It will enable us to quantify and solidify everything we stand for,” says Nicholson. “The fact that the information is centralised and can be audited and quantified by a third party is really important to us.” Information collected on the platform will ensure Pressio can be held to account by staff, suppliers, investors, customers and shareholders who will be able to see that, for example, audits, certifications, contracts, and more are all present and correct. It is using modules to help manage more supplier relationships; contracts; performance; reports and general supplier information. “If we do our job well, the world will be a better place, so we’re accountable to many parties,” says Nicholson. It is in the process of implementing a performance metric system to rank factories and is open to feedback on how it performs as a customer. “If you want to hold them accountable, you have to be held accountable,” says Hunt. Change for all It is Pressio’s passion, communication, close supplier relationships, moves to mitigate and anticipate – and now efforts to implement the infrastructure its growing business needs – that will

Sustainability: Achievements, ambitions and infrastructure Fashion is now the world’s second- largest industrial polluter after aviation. It accounts for 10% of global carbon dioxide emissions – more than 1.7 billion tons – annually. Textile treatment and dyeing are responsible for a third of the ocean’s micro-plastic pollution, releasing 190,000 tons a year. These substantial figures are in part the result of a steep climb in global consumption. Demand has risen to an estimated 62 million tons of textile products a year and is projected to reach 102 million by 2030. Athletic leisure-wear has been a major driver of this. It is estimated that nine in 10 Americans wear athletic apparel for something other than exercising. And consumers are paying increasing attention to the sustainability of their clothes. Recent University of Cambridge reach showed 57% consider it when buying fashion garments. Yet, while a lot of brands say they are sustainable most could do more. “We see brands that can make easy steps to be sustainable and others who are trying but not quite going about it the right way,” says Nicholson. “We despise greenwashing. We struggle with anyone trying to generate profit from claims that are untrue.” “Many brands talk about sustainability but we analyse everything thoroughly to make best choices for all that we use and make,” says Hunt. The company has seven pillars of sustainability that cover each element of its operations: 1. The dyeing process: The company has found an alternative way to dye its fabrics, since typical techniques are highly toxic and reduce the fabric’s performance through heat damage. All its tights are now ‘dope dyed’, where a natural black pigment is added to the polymer batch before it’s extruded into a yarn. This saves 50% of water; 65% of greenhouse gas emissions; 60% of energy costs; makes the colour fastness stronger; and, prevents water pollution.

It is this level of relationship that makes the company more informed, adaptable and therefore resilient. A major UK customer recently noted that Pressio delivered its product in full, punctually a month ahead of schedule, when it would have expected such a new business to deliver late. “A big part of that is because of the relationship we have with our supply base,” says Hunt. “Most companies put in an order and say ‘we look forward to seeing it in four months’ time; we are much more involved. We speak to the fabric mill to ensure orders are in on time; and we visit our factories every month, so we’re there to help if problems crop up. We work incredibly closely together.” And that invite was returned when Nicholson got married. “Business is wholly based on relationships,” he says. “We spend a lot of time with our factories and their families. If we ask them to do things and they can, they will.” “I work with manufacturers and mills to develop our own fabrics, with our own stories.”

2. The yarns: For instance, are they recycled; could there be any microfibre shedding? 3. End of life: Items should be biodegradable or recyclable wherever possible. 4. Application and trims: Many anti- smell treatments are done using silver, which can be harmful to skin and waterways. Pressio is now using peppermint antimicrobial, and all natural seed oil to help wick sweat. Dye stuffs are certified and audited, and swing tags, screen printing ink and transfers must also all be sustainable. 5. Supply chain: It is trying to eliminate air freight and minimise shipments. 6. Manufacturing: Its main factory in Malaysia is currently 70% solar-powered with a target to be run entirely on solar-power by end of year. 7. Packaging: It uses bags made from recycled polyurethane. Close relationships and forward planning support its resilience and delight suppliers and customers alike. Nicholson: “We look at every single element and mitigate going forward. We really poke and prod and see where suppliers might be busy: ‘Do we need to slot in production earlier? We look at sea freight schedules: ‘Can we make shorter than 60 days or truck instead?’” He said fabric stocks held at factories and orders made ahead of time, meant that during one China lockdown there was enough material for production to continue uninterrupted. “We can’t be perfect in all we do because some fibres and techniques are not yet available. We look at the major issues in our seven pillars for all products and determine the essential matters we cover. In some cases, we don’t offer products, for example polar fleeces have massive issues with micro fibre shedding.” “You are always having to weigh up what you can and can’t do,” adds Hunt. “Our brand will be carbon neutral by the end of the year but we have to make certain decisions to achieve that.”

financially, with Pressio I want to help give back. We publicise full information on our website, through choice. If people want to copy they can, but we are working on things three or four years’ ahead of time that will be earth- shattering, so they will be playing catch up anyway.” Images reproduced with permission of Pressio

make it and its supply base resilient to future shocks. “A lot of things in the marketplace you can’t predict,” says Nicholson, “but if we’re ethically and sustainably sound, we are resilient toward anything that comes at us.” He says they aim to be the “strongest voice in the industry” and are happy to share their discoveries for the betterment of all. “We’re trying to help the industry and the world succeed. Many say they are sustainable and, perhaps they are in part, but we live and die by the sword - we won’t bring out anything that’s unsustainable,” adds Nicholson. “We’re here to help any brand on the planet,” adds Hunt. “2XU was the business where I became well-off

OPINION SNAPSHOT: “If we’re ethically and sustainably sound, we are resilient toward anything that comes at us.”

Andy Nicholson and Jamie Hunt, Pressio co-founders

40

41

Powered by