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Good Fashion Fund inks pact with Pratibha Syntex

Jul 02, 2021
Good Fashion Fund inks pact with Pratibha Syntex

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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