Good Fashion Fund inks pact with Pratibha Syntex
To initiate sustainable manufacturing practices, The Good Fashion Fund has signed a deal with Indian manufacturer Pratibha Syntex Limited. The deal comes with a long-term loan of $ 4.5 million.
Europe
To initiate
sustainable manufacturing practices, The Good Fashion Fund has signed a deal
with Indian manufacturer Pratibha Syntex Limited. The deal comes with a
long-term loan of $ 4.5 million. This long-term loan is expected to support
Pratibha Syntex’s planned capital expenditures related to the placement of
machinery and expansion of sustainable equipment in their garments
divisions, spinning, and processing. This new equipment will lead to a
noticeable reduction in chemical, water, and energy usage. The company is a
supplier of garments and textiles to famous brands like H&M, C&A, Zara,
and Patagonia.
Pratibha Syntex
Limited, a sustainably oriented “farm to fashion†garments and textile producer
has a base in Pithampur, India. It connects over 3500 farmers and employees
6000 people from over 20 countries. The company produces around 40 million
garments annually. Pratibha Syntex Limited is not only in the manufacturing of
cotton, fabrics, fibres, and apparel but has also engaged itself in social
initiatives in order to generate employment for the women workforce in the
rural communities.
Source – Good Fashion Fund
Image Source: avpn.asia
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