Retailer Adidas has announced that it will only used recycled polyester in all of its shoes and clothing by 2024 to increase the sustainability of its supply chain.
From this, Adidas has said that it hopes to achieve the target of five million in sales of recycled footwear this year and 11 million in 2019.
Adidas head of global brand Eric Liedtke told the Financial Times (FT) that its goal is to eliminate virgin polyester overall by 2024 as about 50% of the material used in the 920 million individual items the retailer sells is polyester.
According to the FT, experts believe the price gap between recycled and new plastics will close in the next few years as more businesses opt for renewable alternatives and suppliers increase their ability to produce recycled material in large amounts.
The Adidas head added that the price difference is one of the main reasons the group is taking six years to change to recycled plastics.
He said: “We have to make sure we take right-sized bites so that we can maintain our current margin structure. We can absorb some costs every year, but we could not absorb it all in one year.”