Billionaire clothing dynasty heiress launches Everybody & Everyone to make fashion sustainable
Veronica Chou’s family has made its fortune at the forefront of the fast fashion business through investments in companies like Michael Kors and Tommy Hilfiger . But now, the heiress to an estimated $2.1 billion fortune is launching her own company, Everybody & Everyone, to prove that the fashion industry can be both environmentally sustainable and profitable.
There’s no argument about the negative impacts of the fashion industry on the environment.
The textiles industry primarily uses non-renewable resources — on the order of 98 million tons per year. That includes the oil to make synthetic fibers, fertilizers to grow cotton and toxic chemicals to dye, treat and produce the textiles used to make clothes. The greenhouse gas footprint from textiles production was roughly 1.2 billion tons of CO2 equivalent in 2015 — more than all international flights and maritime shipments combined (and a lot of those maritime shipments and international flights were hauling clothes).
The litany of catastrophes that can be attributed to the clothing industry extends to pollution, as well. About 20% of industrial water pollution globally can be traced to the dyeing and treatment of textiles — and microplastics from polyester, acrylic and nylon are polluting
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