In addition, BFL Group is the exclusive premium partner of Tchibo in the MENA region. Under the umbrella of the BFL Group are brands such as "Brands For Less", "Toys For Less", "Homes For Less" and "Mumuso". The company, headquartered in the United Arab Emirates (UAE), is one of the world's leading off-prize retailers in the fashion, gaming and household goods sectors. Zurich, Switzerland – 20 June, 2022 - beaconsmind AG (ISIN: CH0451123589 - Ticker: MLBMD), a leading SaaS provider in the field of Location-Based Marketing (LBM) & Analytics, has contracted BFL Group as a new client. Unique, individualised interaction opportunities with customers through the use of innovative beaconsmind technology Roll-out planned in other BFL Group markets in the Middle East and Europe Start of cooperation with BFL Group in the United Arab Emirates Liability for the information given being complete or correct.Beaconsmind AG: Leading international off-price retailer relies on beaconsmind solution Decreasing the carbon footprint and sourcing sustainable cotton in clothing products are some of the measures fast fashion retailers are pursuing. Furthermore, most of this clothing eventually ends up in landfills. ![]() The nature of fast fashion means that huge quantities of clothing are produced, often using environmentally-damaging materials and processes. According to the Transparency Index 2021 report, Europe-based fast fashion companies such as H&M, ASOS, Marks & Spencer, and C&A achieved scores ranging between 55 and 78 percent, which indicated they succeeded in disclosing supplier lists in their annual filings.Īnother problem associated with fast fashion is the environmental impact of both the quality and quantity of clothing produced. Since then, efforts have been made to ensure fashion companies are more transparent and accountable, and brands in return have collaborated to contribute to a fair fashion industry. In this regard, the collapse of the garment factory at Rana Plaza in Bangladesh in 2013 was a turning point, after which labor and production policies and practices of brands were put under the spotlight. The factories where brands such as Inditex, H&M, Primark, ASOS, and New Look source their products are located predominantly in the developing world, where labour costs are low and working conditions may not be of the highest standard. One of the most pressing topics with fast fashion companies is the ethical issues that revolve around the sourcing of clothing products. It is fair to say that what makes the fashion industry “fast”, meaning increased volumes of supplies produced at greater speed, is also what troubles the industry nowadays. In 2019, the total number of textile and clothing manufacturers was recorded as 160,000. Within the European Union, the number of companies in the business of textile and clothing manufacturing has ebbed and flowed between 20. Today, China emerges as the leading global exporter of clothing, with more than one third of the world’s clothing exports supplied by the country. ![]() Increasing trade flows of clothing and apparel, and the growing impact of Chinese and South Asian markets in garment production have lured global brands to source their products from suppliers in these locations. Over the past two decades, fashion has undergone a massive transformation and acceleration in the way it is produced and consumed.
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