Selfridges has said it is aiming for 45 per cent of its transactions to come from circular products and services by 2030.

The luxury department store, which has four locations and an online platform, said that its Reselfridges initiative, which houses all circular models, will form the backbone of its future business.

It has also pledged to only stock products that meet strict environmental and ethical standards.

The company revealed that it had already increased sales of 'pre-loved' items through the initiative by 240 per cent. It has also facilitated more than 28,000 repairs, rented over 2,000 items, and sold upwards of 8,000 refills.

Selfridges originally committed to achieving net zero by 2050, but updated the target last year to aim for 2040.

“In creating our store of tomorrow we must commit to a fundamental shift in the way that we do business and use the Selfridges platform for change,” said Andrew Keith, managing director, Selfridges. “Our vision is to reinvent retail and create a more sustainable future, and Project Earth and our new targets underpin this.

“We recognise that we need to challenge ourselves to accelerate change and our ambitious circular and materials targets do just that.”

Selfridges said it will continue to experiment with alternative shopping models which focus on extending the life of existing products and packaging.

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