IN THE NEWS: OrthoLite + Novamont, Import Forecast
OrthoLite announced this week that it is partnering with Novamont in the creation of OrthoLite Cirql, the world’s first circular foam material solution for footwear. OrthoLite Cirql was first unveiled to the industry last year — initial production is slated for the back half of 2023.
OrthoLite Cirql foam is a patented footwear materials solution combining OrthoLite’s 26 years of expertise and innovation in foaming polymers and Novamont’s world-leading bio-based, compostable and recyclable polymer to provide the first technology capable of greatly reducing the high impact of the manufacturing process with multiple end-of-life disposal options.
OrthoLite Cirql will offer a traditional plastic-free, scalable and truly circular material to OrthoLite’s 500+ footwear brand partners and factory stakeholders.
Up until this point, it had been proprietary information that OrthoLite was partnering with Novamont in the creation of OrthoLite Cirql. OrthoLite says it sought out Novamont because of the high-tech bio-polymer company’s pioneering activities in the field of the circular bioeconomy and for its 30 years of experience in the development of chemical and biotechnological processes to create low-impact certified biodegradable and compostable solutions with multiple end of life options for everyday life, including: packaging, separating organic waste collection, retail purchasing, disposable tableware, farming, lubricants, cosmetics, pharmaceuticals, and more. Novamont will work exclusively with OrthoLite in the footwear category.
U.S. import levels are forecast to remain below 2022 levels through mid-summer with retailers maintaining reduced inventories until they have a clearer picture of consumer spending and begin rebuilding their seasonal stock levels, according to the most recent Global Port Tracker report released by the National Retail Federation. Imports into U.S. ports were down 16.5 percent year-over-year in January, but up 4.4 percent from the Dec. level.