Transparency has become another buzzword in fashion over the years, referring to the need for brands to disclose more information around their environmental and social impact. But Fashion Revolution’s latest Fashion Transparency Index shows that the 250 biggest brands in the world still aren’t offering enough transparency – which means they can’t be held accountable for their actions (or indeed, their lack of action).
In fact, brands only scored an average of 24 per cent in the latest Fashion Transparency Index, with a third of brands scoring between 0 and 10 per cent. Even the highly-ranked brands – which this year included H&M, The North Face and Timberland – failed to score above 80 per cent, showing just how much progress is still needed. “Progress is still too slow,” Liv Simpliciano, policy and research manager at Fashion Revolution, tells Vogue. “This continued lack of transparency on issues that are absolutely critical is concerning,”
Of course, a brand offering greater transparency does not automatically mean it is more sustainable, as Fashion Revolution is keen to emphasise. Perhaps not surprisingly, brands are more likely to be transparent about their policies and commitments (where there was an average score of 51 per cent) than their impacts (where the average was 19 per cent). “It’s really important that brands disclose not only their commitments, but how they’re performing on those commitments,” Simpliciano continues.
Even where targets are disclosed, they often lack specificity. For example, 45 per cent of brands have targets on sustainable materials, but only 37 per cent actually provide information about what they consider a sustainable material to be. Meanwhile, only 29 per cent of brands have published goals to cut carbon emissions across their supply chain that are in line with the Science Based Targets initiative.
When it comes to transparency across the supply chain, the majority of brands are still falling short. Only 48 per cent disclose their first tier suppliers (the factories where the cutting, sewing and finishing of products happens), while 125 of the 250 brands were rated between 0 and 5 per cent for overall traceability. On top of that, a staggering 96 per cent don’t disclose the number of workers who are paid a living wage in their supply chain.
“There’s no sustainable fashion without fair pay,” Ciara Barry, policy and research co-ordinator at Fashion Revolution, says. “The fact that the [majority] of brands don’t disclose the number of workers in their supply chain that are paid a living wage says to me that they either don’t know how much their workers are being paid, or that they’re not being paid a living wage – because if they were being paid a living wage, why wouldn’t you disclose it?”
While some progress has been made since the index was first launched in 2016 (the average score of the 90 brands that have been included since 2017 is now at 34 per cent), it will likely take legislation for there to be widespread transparency across the fashion industry. The Fashion Act in New York, proposed earlier this year, would require brands to report on energy usage, greenhouse gas emissions, water, plastic use and chemical management, as well as the total volumes of materials produced (the index found that 85 per cent of major brands don’t disclose this) and median wages for workers. Meanwhile, the European Union’s proposed Corporate Sustainability Directive would also require brands to disclose more information moving forward.
For Fashion Revolution, though, transparency is just the base level required from brands, allowing greater scrutiny on their actions. That in turn, they hope, will accelerate change across the industry. “Transparency really is the bare minimum; we should expect brands [to] be honest about their business practices,” Simpliciano comments. “We’d love to have all brands scoring 100 per cent so that we can move on to the impact, to the outcomes,” Barry adds. “Transparency isn’t a silver bullet, but it unlocks all the issues that we want to solve.”
4 Important Tips for Having a Vacation Abroad
Are you planning to go abroad but still don’t know what to prepare? People dream of going abroad, especially to countries like America and Europe. If this is your first time going abroad, you should check the following tips!
Prepare All Important Documents
The first thing you need to do is prepare important documents. For example, passports, ID cards, visas, and international driving licenses if you are going to drive abroad. Make sure you know whether the country you are going to visit is visa-free or not. For Southeast Asian countries, the Maldives and Turkey are visa-free, so you only have to have a passport. But a visa is still needed if you want to go to South Korea, Europe, or America. Make sure to scan your document and save it in the cloud like Google Drive or iCloud. Oh, yes, remember to check your vaccination status. Because every country needs your health information.
Itinerary is important for those who want to travel abroad. The reason is holidays abroad cost a lot of money, so when you can, take advantage of it with a well-planned schedule. Research in detail the tourist destinations you want to visit. For example, what is unique in it, ticket prices, transportation to get there, to the distance from the inn you’re staying. Remember to include places to eat that you want to try. Make sure the place to eat is according to your preferences, such as halal or free of certain food allergies.
Book Tickets in Advance
When you know how long you will be on vacation with the itinerary that has been prepared, it’s time to book plane tickets and lodging. Find cheap tickets by:
- Using promos and discounts on travel agent applications.
- Comparing which price is lower and what kind of facilities you will get.
- Choosing accommodation that fits your budget but is still comfortable.
Oh yes, also remember to check how the pandemic situation is in the country you are going to visit. Do you have to quarantine or not? Because it will affect your itinerary and accommodation. Due to the pandemic conditions that have not fully recovered, check whether there is still Indonesia quarantine after returning from vacation.
Exchange Money and Check Your ATM Cards
Exchange your currency into the destination country’s currency, for example, yen, euros, dollars, won, and others. But remember, don’t carry too much cash because it’s also prone to theft, besides being wasteful. For the rest, you can do cashless transactions. Check your bank’s ATM card to see if it has Visa, MasterCard, or Cirrus logos. This row of stamps indicates that your bank is working with banks abroad. Or you can also use a credit card to make your transaction easier.
Down 43%, Is This Tech Stock Worth Buying Right Now?
Skyworks Solutions (NASDAQ: SWKS) announced its fiscal 2022 fourth-quarter results (for the three months ended September 30) on November 3, and the supplier Apple’s stock price has risen 11% since then.
Skyworks beat expectations and showed solid growth at a time when smartphone sales were declining, but forecasts show the chipmaker is about to hit a bump. With that said, let’s take a closer look at the latest results from the chipmaker. Let’s take a closer look at whether the stock can sustain new momentum after losing 43% of its value in 2022.
Skyworks solutions deliver reliable results for non-mobile businesses
Skyworks’ fourth-quarter revenue increased 7% year-over-year to a record $1.4 billion. The company also reported non-GAAP (adjusted) earnings of $3.02 per share, up 15% year-over-year. Skyworks easily justified analyst estimates of $2.91 per share. For the year, the company’s revenue increased 7% to $5.5 billion and earnings rose similarly to $11.24 per share.
The strong growth of chipmakers in the fourth quarter was the result of successful diversification into new markets such as Internet of Things (IoT) and automotive, as well as relationships with major smartphone original equipment manufacturers (OEMs). Yes, it helped make up for it. Weakness in the smartphone market. space. However, it was the non-mobile business that put a lot of effort into Skyworks last quarter.
As CFO Chris Sennesael noted in the report, the company generated $500 million in revenue from broad market segments (counting chip sales for non-mobile applications like IoT), up 30% from the previous year. Last earnings conference call. Broad market companies contributed 36% of Skyworks’ revenue last quarter, up from 29% in the same period last year.
It’s also worth noting that Skyworks earned $2 billion in revenue from this segment for the entire fiscal year. That’s almost 43% more than the $1.4 billion in revenue last fiscal year. The good news is that the company’s business in a wide range of markets can maintain its momentum. This is because, as Skyworks showed in its earnings report, it is attracting new customers in high-growth niches like IoT.
“In IoT, we continue to win new customers and expand our content. We have partnered with Vodafone to launch the UK’s first WiFi 6E platform. We have launched a solution for Fi 6 hotspots.”
Skyworks also enables the deployment of O-RAN (Open Radio Access Network) and delivers record quarterly results in the high-growth automotive business niche. For example, the O-RAN market is expected to grow at an annual rate of 42% until 2030. Meanwhile, according to Mordor Intelligence, the demand for connected cars will grow by 19% per year until 2027.
These catalysts explain why Skyworks expects its broad commercial segment of the market “to be a major driver in FY23 and beyond.”
The mobile business was not in its best last quarter
Skyworks’ mobile business generated approximately $907 million in revenue last quarter (this is total revenue minus $500 million from the broader market business). By comparison, 71% of Skyworks’ $1.31 billion in revenue last year came from its mobile business, worth nearly $931 million.
Thus, the company’s mobile business, which generates most of its revenue, declined year-over-year in the most recent quarter. This is not surprising given that smartphone sales have been declining for the past five quarters. Skyworks considers Apple its biggest client, with the smartphone giant generating 58% of its revenue last year.
Last quarter, Apple shipped 48.5 million smartphones, 6.4% more than last year. However, the overall smartphone market was down 9% year-over-year. And now things could get even worse for Skyworks.
All of this explains why Skyworks management is targeting a sharp drop in sales and profits. The chipmaker expects revenue of $1.3 billion to $1.35 billion and adjusted earnings of $2.59 per share in the first quarter of fiscal 2023. These numbers show double-digit declines in both revenue and earnings compared to the last year.
Tech Shares May Weigh On Taiwan Stock Market
(RTTNews) – The Taiwanese stock market fell nearly 230 points (1.7%) on Tuesday after falling for two days. The Taiwan Stock Exchange is currently just above the 14,700 plateau, but selling pressure is likely to resume on Wednesday.
The global outlook for Asian markets is mixed, with little change ahead of major economic events that could affect the interest rate outlook. European and US markets were mixed and flat, followed by Asian equities.
The Tokyo Stock Exchange closed sharply higher on Tuesday after gains in financial, technology and cement stocks.
The index closed at 14,709.64, up 152.77 points (1.05%) after trading between 14,449.05 and 14,716.58.
Among assets, Cathay Financial was up 3.45%, Mega Financial was up 1.78%, CTBC Financial was up 2.93%, Fubon Financial was up 2.94%, First Financial was up 1.35%, E Sun Financial rose 1.66%, Taiwanese semiconductor company rose 1.35% and United Microelectronics rose 1.35%. Corporation and Catcher Technology rose 0.56%, Largan Precision shed 0.22%, MediaTek rose 1.42%, Delta Electronics rose 1.71%, Novatek Microelectronics rose 0.51%, China Steel rose 0.51%. 2.87%, Formosa Plastics shed 0.22%, Nan Ya Plastics rose 0.92%, Asia cement rose 1.48%, Taiwanese cement rose 1.67%, and Hon Hai Precision remained unchanged.
Wall Street’s lead indicates a slight negative bias as the leading average rose, then fell in the middle of the session, but then rose to end the mix almost unchanged.
The Dow rose 3.07 points (0.01%) to close at 33,852.53, while the NASDAQ fell 65.72 points (0.59%) to close at 10,983.78, and The S&P 500 fell 6.31 points (0.16%) to 3957.63.
Volatile trading on Wall Street comes amid continued uncertainty about the situation in China following widespread outcry over the country’s Covid restrictions.
Traders may also have been reluctant to make any significant moves ahead of comments from Federal Reserve Chairman Jerome Powell today that could provide further clues about the rate outlook. Unemployment data continues to be released on Friday.
In terms of economic news, the Conference Board released a report showing a moderate decline in US consumer confidence in November.
Crude oil futures ended higher on Tuesday, extending gains from the previous session on hopes that OPEC could cut production to support prices later this week. West Texas intermediate oil futures rose $0.96, or 1.2%, to $78.20 a barrel in January.
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