What Fake Suede and the Future of Impact Investment Have to Do With One Another
Something interesting happened in Italy earlier this year and we think you should know about it. One Italian company, Alcantara, took a competitor, Miko, to court, accusing them of greenwashing. Alcantara argued that Miko, in describing its suede-like microfiber product Dinamica as “green” was competing unfairly. The accusation of “misleading advertising” was based on the EU’s Unfair Commercial Practice Directive (UCPD). Alcantara won. And Miko was instructed by the court to immediately change its marketing pitch, or face hefty fines.