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MarketScreener Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  Reliance Industries    RELIANCE   INE002A01018


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Reliance Industries : India's First Award for Sustainability- ‘Circular Design Challenge' Launches its Second Edition

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10/24/2019 | 09:55am EST




Mumbai, 24rd October 2019: Buoyed by the success of establishing itself as India's first and largest Sustainable Fashion Award, the 'Circular Design Challenge' today announced the beginning of its second edition - continuing its focus on circular economy through design and fashion. The Circular Design Challenge edition one was launched at Lakmé Fashion Week Winter/Festive 2018 in partnership with the United Nations Environment program and as part of Reliance Industries Ltd.'s R Elan 'Fashion for Earth' initiative. Inspiring innovation through a circular economy approach that eliminates waste, the award puts a spotlight on and offer solutions to reduce the environmental impact of the fashion and textile industry in the country.

The Circular Design challenge, open to all fashion/accessory designers and entrepreneurs in India, aims to recognize environmental champions of tomorrow. The registration for the challenge is now open till 15th November 2019 at http://www.circulardesignchallenge.net.

Applicants must incorporate circular-design principles based components across the textile value chain in their design and demonstrate its positive impact on the environment and society. The designers will need to submit a proof concept of their sustainable collection, which must encompass key principles of circularity, sustainability, aesthetics and scalability. They can use any material for their collection, as long as it is up-cycled from diverse waste sources - including plastics.

While launching the CDC edition-2 Mr Vipul Shah, COO - Petrochemicals Business, RIL said "The tremendous successes and recognition to 'I Was A Sari' has inspired many young talents to participate in the second edition of Circular Design Challenge, who are inquiring with us and eagerly awaiting the launch. Their wait is over now as we launch the second edition of Circular Design Challenge. I am sure the challenge will become tougher this year as the number of participants across the textile value chain is expected to increase.

We are eager to see the innovative use of materials and designs that will bring out sustainability and circularity, aesthetics and scalability aspects. We are confident that the CDC will set the stage for drastically reduce the negative impact of textile and fashion industry on the environment."

Atul Bagai - Country Head, UNEP India said, "UN Environment Program (UNEP) is proud to partner with CDC award for the second year in succession. At the UN, we see circularity in fashion a major area of focus for achieving our Sustainable Development Goals. Encouraged by

last year's entries we look forward to having more innovative ideas and designs with focus on circularity and sustainability."

The entries will be evaluated by a special jury to shortlist 6 finalists who will be mentored in developing their collections and pitching for the final showcase on Sustainable Fashion Day at Lakmé Fashion Week Summer/Resort 2020. Along with an opportunity to showcase their collection at Lakmé Fashion Week Winter/Festive 2020, the winner will win a grand cash prize of Rs. 20 lakhs from Reliance Industries Ltd. as well as a business mentorship from Intellecap, through its industry-led initiative - the Circular Apparel Innovation Factory (CAIF). CAIF is an industry-led platform aiming to build a circular apparel and textile industry with mission to build the ecosystem to search, seed, support, and scale circular textile and apparel innovations in India.

I was a Sari, the winner of the first CDC edition, presented their collection at the recently concluded Lakme Fashion Week August 2019. I was a Sari also received recognition and showcased at the 4th United Nations EnvironmentAssembly held in Nairobi in March 2019 and was honoured with The Responsible Disruption Award at the Green Carpet Fashion Awards (GCFA) in Milan.

"Winning Circular Design Challenge was a turning point for our brand. Our ecosystem has grown bigger and we are now working with more partners confidently to reach our potential. We are now playing an active role in the global movement and dialogue on sustainability & circularity," said Stefano Funari, founder of I was a Sari.


IMG Reliance

Edelman India

Yasmin Ranijiwala

Janvi Shah - +91 80879 85955



For Live updates and more on upcoming season, follow Lakmé Fashion Week on social media platforms:

Twitter: @Lakméfashionwk

Instagram: Lakméfashionwk

Facebook: https://www.facebook.com/LakméFashionWk?fref=ts

YouTube: https://www.youtube.com/user/LakméFashionWk

About R|Elan™

R|Elan™, the next-gen fabrics have been created from specially engineered fibres and yarns using the cutting-edge technological expertise, state-of-the-art R&D and the robust testing systems. These smart fabrics have been designed to enhance comfort and aesthetics and it is

the most sought-after fabric by renowned domestic and global brands, retailers and apparel manufacturers. In short, R|Elan™ is Fabric 2.0 - fabric of the future.

About Lakmé Fashion Week:

Lakmé Fashion Week is jointly organized by Lakmé, the No.1 cosmetics and beauty services brand in India and IMG Reliance Pvt. Ltd., leaders in sports, fashion and entertainment marketing and management.

Lakmé Fashion Week has been conceived and created with a vision to "Redefine the future of fashion and Integrate India into the global fashion world." Lakmé Fashion Week is organized twice every year. For further information log on to http://www.Lakméfashionweek.co.in

About IMG Reliance:

IMG Reliance Pvt Ltd. is an equal joint venture between Reliance Industries Limited (RIL), India's largest and most recognized private sector company, and IMG Worldwide (IMG), global leaders in sports, events, media and fashion. The joint venture company develops, markets and manages sports, fashion and entertainment in India. Its current assets include India's premier fashion event, Lakmé Fashion Week and the Maharashtra Open. IMGR, having recently ventured into Talent Management, represents Rohit Sharma and Hardik Pandya for worldwide management and marketing representation.

About UN Environment Programme:

UN Environment Programme is the leading global voice on the environment. It provides leadership and encourages partnership in caring for the environment by inspiring, informing, and enabling nations and peoples to improve their quality of life without compromising that of future generations. UN Environment works with governments, the private sector, civil society and with other UN entities and international organizations across the world


Reliance Industries Ltd. published this content on 24 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 October 2019 13:53:32 UTC

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Financials (INR)
Sales 2020 6 042 B
EBIT 2020 722 B
Net income 2020 475 B
Debt 2020 2 370 B
Yield 2020 0,49%
P/E ratio 2020 20,3x
P/E ratio 2021 15,8x
EV / Sales2020 1,92x
EV / Sales2021 1,67x
Capitalization 9 215 B
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Mukesh Dhirubhai Ambani Chairman & Managing Director
Srikanth Venkatachari Joint Chief Financial Officer
Alok Agarwal Chief Financial Officer
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