The textile industry is one of the most important productive sectors worldwide, and everyone, to some extent, is involved in its value chain. For this reason, it is essential to be informed about its performance, problems and innovations. This paper presents the progress done in the transition towards sustainable production and consumption patterns. A literature review of the life cycle stages of textile products was carried out to identify initiatives and actions improving the performance. The findings show that transparency and traceability along the supply chain have been a fundamental piece in the transition. Besides, the creation of multi-stakeholders’ clusters, seeking to improve social and environmental issues has been one of the most successful paths in this transition. However, a lack of training and skills along the life cycle stages and disconnection between products’ design and strategies of recycling was found. For this reason, it is recommendable to generate an in-depth diagnosis of the textile industry at a global and regional level. As well, it is necessary to generate strategies and tools that facilitate this transition, mainly supporting SMEs (small-and medium-sized companies).