07:57 AM EDT, 07/19/2026 (MT Newswires) -- The European Union's new blanket ban that prevents the disposal or destruction of unsold clothes and other related products is set to take effect on Sunday, London's Financial Times reported the same day. The rule, which was approved in 2024, will force luxury fashion groups such as LVMH (MC.PA), Prada, Chanel, and Industria de Diseño Textil (ITX.MC), d/b/a Inditex, to either produce fewer products or have higher inventory costs. The ban aims to improve companies' inventory management and planning when it comes to their stock. LVMH and Inditex did not immediately respond to requests for comments from MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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