The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The companies have backed Infinited Fiber Company, a Finnish recycling firm that turns textile waste rich in natural fibres such as cotton into a biodegradable and recyclable material known as Infinna, as part of its latest funding round led by existing investor H&M Group.
The recycling company secured €30 million (about $36 million), with other participants including investment companies Nidoco AB and Security Trading Oy, and Sateri, the world’s largest viscose producer.
Bestseller and H&M Group have also signed multi-year sales deals to use the Infinited Fiber Company’s Infinna fibre, the company said. Infinited Fiber Company is preparing to increase production with a new flagship factory.
This move comes amid growing interest and investment from brands in textile-to-textile recycling, as fashion players look to act on sweeping commitments to adopt more circular production methods and business models that reduce waste and keep materials in circulation for longer. Last year, Ralph Lauren took a minority stake in material science start-up Natural Fiber Welding. Meanwhile, H&M Group doubled down on its investment in recycled textile innovator Renewcell and launched a machine developed with the Hong Kong Research Institute of Textiles and Apparel that processes and re-spins old clothes, with plans to install the machine at a handful of manufacturing suppliers.
Traces of cotton from Xinjiang were found in nearly a fifth of samples from American and global retailers, highlighting the challenges of complying with a US law aimed at blocking imports that could be linked to forced labour in China.
The fashion industry continues to advance voluntary and unlikely solutions to its plastic problem. Only higher prices will flip the script, writes Kenneth P. Pucker.
The outerwear company is set to start selling wetsuits made in part by harvesting materials from old ones.
Companies like Hermès, Kering and LVMH say they have spent millions to ensure they are sourcing crocodile and snakeskin leathers responsibly. But critics say incidents like the recent smuggling conviction of designer Nancy Gonzalez show loopholes persist despite tightening controls.