Dear Valued Customer,
Welcome to our second edition of the Insight Quarterly for 2023. Since our last newsletter, there have been some changes at Avery Dennison. You may have seen that our current CEO, Mitch Butier plans to retire and will hand over the reins to Deon Stander, our current COO in September of this year. This is an exciting time for Avery Dennison as we continue on our journey to build products and solutions that leverage our materials science expertise and digital technology capabilities.
I am also honored to share that I have taken on a new role as President of the Solutions Group for Avery Dennison. We have a huge opportunity ahead of us as we continue to focus on solutions that unlock value across multiple industries. I truly believe in our ability to create a better world by digitizing products and supply chains to benefit people, the planet and profit and I look forward to furthering our partnership with our customers in the coming years.
Throughout this edition, you will be able to explore our trailblazing work in mapping out what the future holds for Digital Product Passports (DPP), new opportunities and trends we are seeing for digital identification solutions as well as a spotlight on our work with key customers and partners.
Preparing for Digital Product Passport (DPP) requirements
Traceability and transparency are challenges facing multiple industries today. You may recall from our Missing Billions report published late last year that $163 billion worth of inventory is wasted due to overproduction or expiry. We are seeing catastrophic headlines surrounding the impact production and consumption are having on climate change. In the EU, proposed legislation surrounding the introduction of DPPs is top of the agenda. Impacting Textiles, EVB and Electronics first, DPP is key to the EU’s transition to a circular economy and will provide information about products’ environmental sustainability. Avery Dennison’s atma.io connected product cloud is an Associate Partner of CIRPASS - a consortium that aims to prepare the ground for gradual piloting and deploying DPP’s from 2023 onwards.
Sustainability is integral to our business
Sustainability is a core value of Avery Dennison and guides how we operate, do business, and partner with others. We are excited to share that we have partnered with TEXAID, a renowned European company specializing in the collection, sorting, repair, reselling and recycling of used textiles. Through the partnership, we will explore how digital identification technologies can be used to identify garments in the sorting process to improve efficiencies and ultimately reduce textile waste. The entire process will also be tracked and monitored via Avery Dennison’s atma.io connected product cloud platform, enabling transparency and traceability. This digital infrastructure aims to pave the way for new circular business models.
I hope you enjoy this edition of Insights Quarterly. As always, if you have any feedback or questions, please don't hesitate to reach out to us here.
Sincerely,
Francisco Melo
President, Solutions Group, Avery Dennison