Revolutionizing Design: Embracing Circular Business Models

In a world filled with creativity and trendsetting, the design world has been stuck in the past when it comes to its business model. The industry’s linear business model prioritizes higher sales volumes and continuous production, leading to over-consumption, waste, and environmental damage. Continuing in this direction is simply not feasible for the planet and its ecosystems.

Thankfully, some companies, albeit not enough, are beginning to rethink their business models. To address this issue, a circular economy approach is needed, where waste is minimized, and resources are kept in use for as long as possible. By adopting alternative business models like resale, rental, repair, and remaking, companies can reduce waste, save resources, and generate revenue without producing new items from scratch. This shift to circular activities could bring in an estimated $700 billion by 2030. To fully embrace the circular economy, brands must rethink their operating models and design more durable, recyclable, and emotionally appealing products.

Speaker: Nicolò Andreula, Economist & Expert in strategy, storytelling, and sustainability

Date: April 27th, 2023