Valentino, LVMH, Fendi together with Carlo Capasa, President of the National Chamber of Italian Fashion, and Sergio Tamborini, President of Sistema Moda Italia, announced their intention to accelerate the circular transformation of the production model of the Italian fashion industry. There is an urgent need for this if we consider that the fashion industry, in addition to being one of the pillars of the EU economy, with 400 thousand companies and 31 percent of European turnover (55 billion euros), is also among the supply chains that produce the most pollution. According to data released by the European Community, fashion generates 12.6 million tons of textile waste per year in the old continent. Clothing and footwear alone account for 5.2 million tons of waste, with an average of 12 kg per person each year. Currently, only 22 percent of post-consumer textile waste is collected separately for reuse or recycling, while the rest is often incinerated or landfilled. Globally, moreover, the fashion supply chain is responsible for 10 percent of the world's carbon emissions, the consumption of about 93 billion cubic meters of water in production alone, and the discharge of about 500 thousand tons of microfibers into the seas. The figures become even more significant in light of estimates prepared by the Brussels institutions that textile production is expected to grow 63 percent by 2030.