After several years of growth, outdoor group Goldwin Inc. is laying the foundation for a more sustainable future. Revealed in its fiscal year recap of 2020, the long-term vision, called PLAY EARTH 2030, will put the company and its 18 brands on a path toward zero waste manufacturing by 2030.
Goldwin Inc. plans to achieve this ambitious goal by implementing the following changes across its brands:
- Curbing production by adopting more strict inventory control methods and more accurately forecasting market demand
- Expanding custom order program
- Strengthening its repair and recycling programs
- Transitioning to 100 percent recycled and biosynthetic materials
Currently, Goldwin Inc.’s total clothing production amounts to roughly 65 tons per year. By switching to recycled materials and expanding the development of Brewed Protein, the biosynthetic fiber developed in collaboration with Spiber, Goldwin Inc.’s use of sustainable materials will expand from roughly 28% to 90% by 2030. The company will switch from synthetic fibers such as petroleum-based polyester to polyester made from recycled clothing and PET bottles, fibers decomposed in soil, water extracted from waste materials and thinned materials, and plant-derived oils.
Takao Watanabe, president of Goldwin Inc., said: “For us outdoor companies, the planet is indispensable. We will face sustainability on the two axes of environment and business and realize a healthy and prosperous life. We will also focus on the realization of a carbon-free society. Aim for carbon neutrality at the head office, directly managed stores, and all offices by switching to renewable energy and in-house eco-power generation. We will also actively work on sustainable business development, such as promoting a business model that coexists with nature together with stakeholders.”
In line with its PLAY EARTH 2030 plan, Goldwin has also announced business targets for the next five years, aiming to achieve sales of $125 billion yen ($1.15 million USD) by March 2026 (actual results for the fiscal year ending March was 90.4 billion yen) and operating income of 21 billion yen (from actual 14.8 billion yen).
Goldwin’s consolidated financial results for fiscal year 2021 exceeded expectations and forecasts, with a sales decrease of 7.6% and a net profit of 10.7 billion yen. Most of the directly managed stores were temporarily closed in spring 2020 due to COVID-19, but profits remained balanced compared to fiscal year 2019. With a well-balanced sales structure of directly managed stores, sports specialty stores, and e-commerce stores, year-end inventory remained at the same level as the previous year. Forecasts for the fiscal year ending March 2022 are for sales to increase 10.5% year on year to 100 billion yen, operating income to decrease 5.7% to 14 billion yen, and net income to decrease 4.0% to 10.3 billion yen. In anticipation of growth in the outdoor business, sales will be in the 100 billion yen range for the first time. Profit is expected to decline due to upfront investment in core systems and marketing.