Consumer products such as clothes and footwear sometimes contain chemical substances with properties that pose a risk to human health and the environment. These substances, restricted by law or company policy, are in focus for chemicals management processes by textile retailers. However, complex and non-transparent supply chains, and limited chemical knowledge, makes chemicals management challenging. Therefore, a function-based approach for life cycle management (LCM) of chemicals was developed, based on results of previous projects and evaluated using a two-step Delphi process. The resulting approach aims to help retailers identify and substitute hazardous substances in products, and consists of three parts: (i) a function-based chemicals management concept model for different levels of chemical information within the supply chain, (ii) tools for non-chemists which explain chemical information, and (iii) a continuous provision of knowledge to stakeholders (e.g., retailers) in a network. This approach is successfully implemented by over 100 retailers in the Nordic countries, providing the textile industry with practical and robust tools to manage and substitute hazardous chemicals in products and production processes. We conclude that the developed approach provides an explicit link, communication, and knowledge sharing between actors in the supply chain, which has proven important in chemicals LCM.