Fila releases sustainability report, bolsters product circularity

(Fila Holdings)

South Korean sportswear brand Fila on Wednesday released its latest annual sustainability report, as part of efforts to enforce its mid-to long-term slogan to operate a transparent and eco-friendly business.

"Fila made significant strides in its pursuit of sustainability management throughout 2022," a Fila Holdings official said.

"Last year was particularly meaningful in that (Fila) further strengthened (the firm's) mid- to long-term strategies in all directions of sustainability management,” she added.

According to the report, Fila made notable efforts in producing a sustainable life cycle for its products.

Specifically, the report stated the company was able to repurpose 9,000 discarded footwear samples generated during the production stage, to manufacture 10,000 mid-soles -- a layer of the shoe that provides cushioning to shock absorption -- for its footwear models.

The company said it also released products with near-field communication tags, or NFC tags, in order to curtail waste.

With an aim to further ensure the company operates in line with ESG principles, the company said it also ramped up efforts to strengthen its shareholder return policy by recently paying a total of 94.9 billion won ($7.2 million) in dividends.

In recognition of its recent ESG efforts, Fila Holdings said it became the Korean fashion company to be included in the Dow Jones Sustainability Indices in Korea. DJSI is a set of global sustainability benchmarks that assess and measure the sustainability performance of companies.

“We will do our best to continue to extend our sustainability management and grow our business capabilities, to create shared value in every aspect of our business operations. We will effectively communicate our progress and achievements through our annual sustainability reports," the official said.

By Lee Yoon-seo(yoonseo.3348@heraldcorp.com)