Don’t get me wrong, it is okay to make money (after all, it makes the world go around), you just have to consider how and why you’re doing it. At Double Retail, we are on a journey to becoming a better business.
For starters, we are in the process of becoming employee-owned – meaning employees will own the majority of shares – and we have recently completed our B Lab Impact Assessment with the hope of becoming B Corp certified. We have also transitioned our overall structure to democratic governance. This means everyone who works at the company has the power to influence our business. This is a permanent operational model change, not just a Scout’s badge that you buy and stick on to your blazer – everyone has to be involved.
As part of our new strategy, we all meet once per month to make big and important decisions as a team. From managing days off, to completing tasks, everyone is equally responsible for using their initiative to take action. To achieve this, the main thing we have taken on board is accepting everyone as an individual. It’s important to remember that reasonable prosperity is different for everyone. Although this hasn’t been an easy journey, we believe it has been a key step towards becoming a force for good in the world.
As well as placing employees at the centre of our company, we view the planet as a shareholder in our business. We are extremely mindful that the average fashion retail lifecycle is only 5-10 years. Although this is slightly higher than it used to be, there is still a huge amount of consumption waste within the retail industry.