IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v15y2023i8p6593-d1122824.html
   My bibliography  Save this article

Analyzing the Attractiveness of Businesses to Receive Investments for a Creative and Innovative Transition to a Circular Economy: The Case of the Textile and Fashion Industry

Author

Listed:
  • Wesley Douglas Oliveira Silva

    (Escola UNICAP ICAM-TECH, Universidade Católica de Pernambuco (UNICAP), Recife 50050-900, Brazil)

  • Marcele Elisa Fontana

    (Mechanical Engineering Department, Universidade Federal de Pernambuco (UFPE), Recife 50740-550, Brazil)

  • Bianca Maria Jacinto de Almeida

    (Tecnology Departament, Universidade Federal de Pernambuco (UFPE), Caruaru 55014-900, Brazil)

  • Pedro Carmona Marques

    (EIGeS, Faculty of Engineering, Lusófona University, 1749-024 Lisbon, Portugal
    Instituto Superior de Engenharia de Lisboa (ISEL), Instituto Politécnico de Lisboa, 1959-007 Lisbon, Portugal)

  • Raphaela Vidal

    (EIGeS, Faculty of Engineering, Lusófona University, 1749-024 Lisbon, Portugal)

Abstract

Excessive and often compulsive consumption has given the textile–fashion industry the reputation of being one of the industries causing the most pollution in today’s world. For this reason, there is a necessity for a transition from a linear to a circular approach in the textile–fashion industry. However, this is not an easy task, especially when considering the investments that must be made to put a circular economy structure into practice. In this sense, the transition to a circular economy in the textile–fashion industry presents a unique opportunity for businesses to attract investments to support this transition by leveraging creativity and innovation to reduce waste, minimize resource consumption, and increase the longevity of products and materials. Therefore, this study sets out to develop a multicriteria decision support model to measure the attractiveness of businesses to receive investments that aim at aiding the transition to the circular economy. The model uses the “play card” from Simos’ procedure and the Normalize software that provide a comprehensive, consistent, and transparent approach to decision making, which can help investors to evaluate the attractiveness of investment opportunities and identify businesses that have the potential for long-term success in the circular economy. Hence, catalyzing and obstructing factors of the circular economy discussed in the literature were selected to underpin the analysis model and to draw up robust investment recommendations to the investors. In addition to the scientific contributions of the model, indications are also provided to the private sector, public policy makers, and society on how sustainability can be driven by the circular economy.

Suggested Citation

  • Wesley Douglas Oliveira Silva & Marcele Elisa Fontana & Bianca Maria Jacinto de Almeida & Pedro Carmona Marques & Raphaela Vidal, 2023. "Analyzing the Attractiveness of Businesses to Receive Investments for a Creative and Innovative Transition to a Circular Economy: The Case of the Textile and Fashion Industry," Sustainability, MDPI, vol. 15(8), pages 1-18, April.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:8:p:6593-:d:1122824
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/15/8/6593/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/15/8/6593/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Bressanelli, Gianmarco & Visintin, Filippo & Saccani, Nicola, 2022. "Circular Economy and the evolution of industrial districts: a supply chain perspective," International Journal of Production Economics, Elsevier, vol. 243(C).
    2. Jensen, Federico & Whitfield, Lindsay, 2022. "Leveraging participation in apparel global supply chains through green industrialization strategies: Implications for low-income countries," Ecological Economics, Elsevier, vol. 194(C).
    3. Wang, Yingjia & Fan, Di & Fung, Yi-Ning & Luo, Suyuan, 2022. "Consumer-to-consumer product exchanges for original fashion brands in the sharing economy: Good or bad for fashion knockoffs?," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 158(C).
    4. Mejías, Ana M. & Bellas, Roberto & Pardo, Juan E. & Paz, Enrique, 2019. "Traceability management systems and capacity building as new approaches for improving sustainability in the fashion multi-tier supply chain," International Journal of Production Economics, Elsevier, vol. 217(C), pages 143-158.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Abbate, Stefano & Centobelli, Piera & Cerchione, Roberto, 2023. "From Fast to Slow: An Exploratory Analysis of Circular Business Models in the Italian Apparel Industry," International Journal of Production Economics, Elsevier, vol. 260(C).
    2. Jamalnia, Aboozar & Gong, Yu & Govindan, Kannan, 2023. "Sub-supplier's sustainability management in multi-tier supply chains: A systematic literature review on the contingency variables, and a conceptual framework," International Journal of Production Economics, Elsevier, vol. 255(C).
    3. Saliha Karadayi-Usta & Erfan Babaee Tirkolaee, 2023. "Evaluating the Sustainability of Fashion Brands Using a Neutrosophical ORESTE Approach," Sustainability, MDPI, vol. 15(19), pages 1-17, September.
    4. Bressanelli, Gianmarco & Visintin, Filippo & Saccani, Nicola, 2022. "Circular Economy and the evolution of industrial districts: a supply chain perspective," International Journal of Production Economics, Elsevier, vol. 243(C).
    5. Gianmarco Bressanelli & Federico Adrodegari & Daniela C. A. Pigosso & Vinit Parida, 2022. "Towards the Smart Circular Economy Paradigm: A Definition, Conceptualization, and Research Agenda," Sustainability, MDPI, vol. 14(9), pages 1-20, April.
    6. Butollo, Florian & Staritz, Cornelia, 2022. "Deglobalisierung, Rekonfiguration oder Business as Usual? COVID-19 und die Grenzen der Rückverlagerung globalisierter Produktion [Deglobalization, reconfiguration, or business as usual? COVID-19 an," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 32(3), pages 393-425.
    7. Qin, Meng & Su, Chi-Wei & Umar, Muhammad & Lobonţ, Oana-Ramona & Manta, Alina Georgiana, 2023. "Are climate and geopolitics the challenges to sustainable development? Novel evidence from the global supply chain," Economic Analysis and Policy, Elsevier, vol. 77(C), pages 748-763.
    8. Mohsin Malik & Hadi Ghaderi & Amir Andargoli, 2021. "A resource orchestration view of supply chain traceability and transparency bundles for competitive advantage," Business Strategy and the Environment, Wiley Blackwell, vol. 30(8), pages 3866-3881, December.
    9. Carla Coppola & Agostino Vollero & Alfonso Siano, 2023. "Developing dynamic capabilities for the circular economy in the textile and clothing industry in Italy: A natural‐resource‐based view," Business Strategy and the Environment, Wiley Blackwell, vol. 32(7), pages 4798-4820, November.
    10. Ananna Paul & Nagesh Shukla & Sanjoy Kumar Paul & Andrea Trianni, 2021. "Sustainable Supply Chain Management and Multi-Criteria Decision-Making Methods: A Systematic Review," Sustainability, MDPI, vol. 13(13), pages 1-28, June.
    11. Gianmarco Bressanelli & Nicola Saccani & Marco Perona, 2022. "Investigating Business Potential and Users’ Acceptance of Circular Economy: A Survey and an Evaluation Model," Sustainability, MDPI, vol. 14(2), pages 1-22, January.
    12. Peter Lund‐Thomsen & Lone Riisgaard & Sukhpal Singh & Shakil Ghori & Neil M. Coe, 2021. "Global Value Chains and Intermediaries in Multi‐stakeholder Initiatives in Pakistan and India," Development and Change, International Institute of Social Studies, vol. 52(3), pages 504-532, May.
    13. Li, Jingwen & Wang, Yue & Song, Yubing & Su, Chi Wei, 2023. "How resistant is gold to stress? New evidence from global supply chain," Resources Policy, Elsevier, vol. 85(PB).
    14. Ding, Jian & Liu, Baoliu & Shao, Xuefeng, 2022. "Spatial effects of industrial synergistic agglomeration and regional green development efficiency: Evidence from China," Energy Economics, Elsevier, vol. 112(C).
    15. De Lima, Felipe Alexandre & Seuring, Stefan, 2023. "A Delphi study examining risk and uncertainty management in circular supply chains," International Journal of Production Economics, Elsevier, vol. 258(C).
    16. Govindan, Kannan, 2023. "How digitalization transforms the traditional circular economy to a smart circular economy for achieving SDGs and net zero," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 177(C).
    17. Nie, Jiajia & Xu, Xiaoxuan & Yue, Xiaohang & Guo, Qiang & Zhou, Yu, 2023. "Less is more: A strategic analysis of 3D printing with limited capacity," International Journal of Production Economics, Elsevier, vol. 258(C).
    18. Zhou, Xiongyong & Zhu, Qinghua & Xu, Zhiduan, 2023. "The role of contractual and relational governance for the success of digital traceability: Evidence from Chinese food producers," International Journal of Production Economics, Elsevier, vol. 255(C).
    19. Khan, Syed Abdul Rehman & Yu, Zhang & Sharif, Arshian, 2021. "No Silver Bullet for De-carbonization: Preparing for Tomorrow, Today," Resources Policy, Elsevier, vol. 71(C).
    20. Mahapatra, Santosh K. & Schoenherr, Tobias & Jayaram, Jayanth, 2021. "An assessment of factors contributing to firms’ carbon footprint reduction efforts," International Journal of Production Economics, Elsevier, vol. 235(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:15:y:2023:i:8:p:6593-:d:1122824. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.