The product I’ve chosen is Nike’s latest sports shoe line. These are made from a collection of recycled materials from Nike’s manufacturing scraps and worn-out sneakers along with recycled and sustainable leather to make these sports shoes ethically and sustainably sourced and manufactured.
The product is circular because the materials to make it are manufacturing scraps and recycled materials instead of new raw materials. It means that the products are in a circular loop between the manufacturing and consumption stages, thereby reducing the amount of waste generated and disposed of.
All three principles of function, adjustment, and materials are being used here. Functionality is at play here since Nike is a trusted brand with the product being made of durable and compatible (unsellable products, manufacturing scraps) materials; the product is adjustable since the recycled materials have been disassembled, reassembled, and upgraded into a new line of products. Additionally, the materials reduce waste and pollution by reutilizing manufacturing waste.
The economic benefits include that Nike now has a new profitable product line and revenue stream out of its manufacturing waste while also saving the cost of procuring pristine raw materials. The environmental benefit is that the amount of waste generated while producing a new line of shoes is now significantly eliminated, thereby reducing the stress on landfills and incinerators used to dispose of these wastes. Additionally, recycled leather solves the issue of ethical sourcing of raw materials.
It belongs to the waste-to-wealth business model as Nike is practically using its scraps and recycled materials to launch a new line of fashionable and profitable shoes.