At Buckingham Palace, the SMI showcased scalable blueprints and tangible progress from its Fashion Task Force – representing more than £24 billion in combined revenue – from scaling regenerative agriculture from pilot to product to advancing Digital Product Passports from concept to rollout, giving consumers greater transparency from farm to closet.

• Flagship initiatives led by SMI Fashion Task Force Chair Federico Marchetti, the Fashion Task Force brands, and supported by the Circular Bioeconomy Alliance (CBA) were presented

• Convening attended by His Majesty and SMI Fashion Task Force member CEOs

12 March 2026, London, UK: The Sustainable Markets Initiative (SMI), founded by His Majesty King Charles III in 2020 when he was Prince of Wales, today convened members of its Fashion Task Force at Buckingham Palace to brief His Majesty on major progress across flagship projects advancing regenerative fashion and traceability through Digital Product Passports (DPP).

Taking place on the second day of the SMI’s Roundtables & Exhibition - concurrently taking place at Hampton Court Palace - the meeting with His Majesty covered results from the Himalayan Regenerative Fashion Living Lab, developed by the SMI Fashion Task Force in partnership with Brunello Cucinelli and the Circular Bioeconomy Alliance (CBA).

Regenerative Himalayan cashmere scarves, now available to clients in selected locations, were displayed for guests as part of the Hampton Court Exhibition today, alongside on-the-ground footage of the regenerative and community projects from inception to delivery, focusing on ecological recovery, livestock productivity and income stability for Himalayan communities – especially women and youth.

The Task Force also provided an update to His Majesty on the Apulia Regenerative Cotton Project, launched in June 2023 to introduce agroforestry‑based cotton production in Italy. Led by the Fashion Task Force, the Armani Group and guided by the CBA, the project delivered measurable gains in soil carbon and biodiversity across the site. During the convening, the Task Force showcased the Armani DPP to guarantee authenticity and traceability and HModa presented its organic and regenerative cotton cultivation project in Apulia.

Aura, with its DPP technology, and brands like OTB, Stella McCartney, Mulberry and Johnstons of Elgin demonstrated DPPs on selected products during the convening, bringing to life the depth of production and resource data now accessible from across the entire value chain. Adopting DPP technology significantly increases product traceability and transparency, allowing consumers to make informed choices and support more circular consumption practices, while reflecting industry alignment on shared standards.

The DPPs can be implemented across a vast range of product categories – from knitwear to leather goods – showcasing versatility and the potential for sector-wide adoption.

The work of the Task Force, presented today, highlights that change is possible and that consumers respond positively when empowered with the necessary information to make responsible choices.

Federico Marchetti, Chair of SMI Fashion Task Force, commented: “I would like to extend my sincere thanks to the CEOs of the Fashion Task Force and their teams, as well as to the SMI and CBA, for the dedication they have shown over the past five years since the Task Force was established. Their collective efforts have enabled us to achieve remarkable, innovative and measurable results, which we had the honour of presenting today at Buckingham Palace to HM The King, who has always encouraged me to turn ideas into action. These results demonstrate to the entire industry the path forward. Fashion has always been an industry of creativity and reinvention: with collaboration and innovation, we can turn sustainability into the next great chapter of luxury.”

Jennifer Jordan-Saifi, CEO of Sustainable Markets Initiative, said: “The progress showcased today demonstrates the commitment and capability of the SMI and its members to deliver practical, scalable solutions for the sustainable transition. These flagship projects showcase how industry, science and communities can come together to rethink fashion’s global impact, highlighting the link between craftsmanship, environmental stewardship and traceability. With leaders across sectors gathering today at the SMI Roundtables & Exhibition, we have an opportunity to accelerate this progress and inspire others to join us in building a resilient future that positions Nature, People and Planet at its heart.”

Marc Palahí, CEO of the Circular Bioeconomy Alliance, commented: "I am very proud of the progress which has resulted from the collaboration between the SMI Fashion Taskforce led by Federico Marchetti and the Circular Bioeconomy Alliance. The pioneering Living Labs in the Himalayas and Italy show what is possible when you blend business commitment, science and local knowledge, placing nature at the heart of our economy and creating a practical, scalable blueprint for the future."

The SMI Fashion Task Force brings together leaders from global brands, platforms, and retailers to accelerate Nature‑positive solutions and turn ambition into real‑world action through collaboration. With a combined revenue of over £24 billion, the Task Force includes Armani Group, Aura, Brunello Cucinelli, Burberry, Chloè, Emaar, HModa, Johnstons of Elgin, Mulberry, OTB, Prada Group, Puig, Stella McCartney and Textile Exchange.

With a focus on pragmatic commercially aligned transition, the SMI brings together leaders at the highest levels of decision making to tackle system level and cross-industry challenges that no organisation or sector can solve alone.

The SMI Roundtables & Exhibition, taking place on 11 and 12 March 2026, provides a unique platform for leaders to work together and collaboratively decide on practical solutions to unlock realworld progress.

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