In August 2020, the British luxury retailer launched its Project Earth program to track its environmental targets and its commitment to a net zero future.
The company has set out a 2030 target of reaching 45 percent of circular transactions to come from circular products and services by stocking products that meet its environmental and ethical standards.
Selfridges has accelerated its net zero goal by changing their deadline to 2040 instead of 2050 as a promise to the Climate Pledge.
“Our vision is to reinvent retail and create a more sustainable future, and Project Earth and our new targets underpin this. We recognize that we need to challenge ourselves to accelerate change and our ambitious circular and materials targets do just that,” said Andrew Keith, managing director at Selfridges.
“We don’t have all the answers, but we are committed to finding solutions, through a continued imaginative approach to retail innovation.”
In August, the British department store was acquired by the Central Group and Signa Holding under a 50-50 partnership.
Central and Signa did not disclose how much they paid for the Selfridges Group, but did hint that it was “not far from the 4 billion pounds reported by the press when the deal was revealed in December, but not that specific amount,” in an interview with WWD earlier this year.
The merger includes Selfridges Group’s e-commerce platforms, which draw in more than 30 million online visitors a month and ship to more than 130 countries.
Selfridges outgoing managing director, Anne Pitcher has been slowly handing over the reins to Keith as she will remain in the company’s leadership team until the end of the year.
“This news today is also an opportunity for me to share with you that | have decided to leave Selfridges Group at the end of the year. As an organization we have never stood still and it’s important to embrace change. After nearly two decades here, it’s time for me to do a little reinventing of my own,” Pitcher said in her resignation letter.