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21 Jul 2023

Monira Munni, The Financial Express

Global: Only 11% of global fashion brands have a policy to pay suppliers within 60 days, latest Fashion Transparency Index shows

"Global fashion brands fail to address exploitative purchasing practices", 21 July 2023

Only 12 per cent of the surveyed 250 global fashion brands publish a responsible purchasing code of conduct, according to the latest fashion transparency index...

While this year's report shows an improvement in brands' transparency regarding human rights due diligence processes (68 per cent in 2023 compared to 34 per cent in 2020), there has been no progress in publicly committing to paying suppliers within reasonable time frames, even as short as 60 days, as per the report by Fashion Revolution's Fashion Transparency Index 2023.

"Late payments are a part of a bundle of purchasing practices which directly impact on a supplier's operations, potentially creating the very issues due diligence tries to mitigate," says the Fashion Transparency Index 2023.

A mere 11 per cent of brands disclose a policy to pay suppliers within 60 days....

Part of the following timelines

Global: Garment workers face mass layoffs, suspended employment & reduced working hours as suppliers report reduced & cancelled orders from brands amid cost-of-living crisis

Just one percent of fashion brands disclose the percentage of garment workers in their supply chains that earn a living wage, finds latest Fashion Transparency Index