What Is Circular Economy
EU gives this definition:
“The circular economy is a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing, and recycling existing materials and products as long as possible. In this way, the life cycle of products is extended.”
We can imagine the traditional economy as a linear system in 3 steps: take – make – waste.
Companies take raw materials, transform them into finished products, and shoppers, sooner or later, throw them away.
This system consumes a lot of resources and produces pollution and waste.
Instead, the circular economy creates loops where fewer products are created, used, reused again, and then disposed of without harming the environment.
The circular economy is applicable on numerous types of industries, including that of fashion. In this case, it's called circular fashion.