In a potentially giant environmentally friendly step forward for the fashion industry, Prada have announced a new deal focusing on sustainability and producing ethically made products.

The Italian fashion house are making history by becoming the first major luxury brand to sign a sustainability agreement relating to how their stores are built and managed, and how their clothes, accessories and homeware are made.

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The sustainability pact has been struck with French banking group Credit Agricole, who have provided the luxury retailers with a new five-year £42.9 million loan.

The financing comes with stringent sustainability-related conditions, which the brand must adhere to or penalties are incurred.

The first condition of the revolutionary new eco-conscious deal are the brand’s stores must be certified either gold or platinum by the green-building rating system. The rating takes into account the construction of a building, its management, and the number of resources it consumes and waste it produces.

Secondly, Prada will have to increase the training hours of its employees, and third, work towards reducing and phasing out the use of virgin nylon by 2021, replacing it with Econyl, recyclable yarn and an increased use of recycled plastic waste.

For more information on the Prada sustainability deal visit Prada online.