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Zalando invests in Infinited Fiber

Oct 01, 2021
Zalando invests in Infinited Fiber

Finland

Zalando, Europe’s leading online platform for fashion and lifestyle, invested in the circular fashion and textile technology group Infinited Fiber Company (IFC).

The investment completes a funding round recently led by H&M Group, in which Adidas and BESTSELLER’s investment arm Invest FWD A/S also took part. Infinited Fiber Company will use the proceeds to prepare for building Infinited Fiber Company’s flagship factory in Finland in response to the strong growth in demand from global fashion and textile brands for Infinited Fiber Company’s regenerated textile fibre Infinna.

Infinited Fiber Company’s technology turns cellulose-based raw materials, like cotton-rich textile waste, into Infinna, a unique, premium-quality regenerated textile fibre with the natural, soft look and feel of cotton. Infinna is biodegradable, contains no microplastics, and at the end of their life, garments made with it can be recycled in the same process together with other textile waste. Both companies are also signing a letter of intent that includes Zalando providing raw materials to Infinited Fiber Company in the future and Zalando using the regenerated Infinna™fiber for its private label production.

Petri Alava, co-founder and CEO, Infinited Fiber Company, said that, they are delighted to welcome Zalando as a new strategic investor into their circle of partners, and see their commitment as further indication of the fashion industry’s strong belief in their innovation. He also said that, Zalando’s vast brand portfolio and circularity initiatives provide a great basis to deepen the collaboration and to secure feedstock for th flagship plant.”

David Schneider, Co-CEO, Zalando, said that, they wanted to be part of the solution for a more sustainable fashion industry. With the investment in Infinited Fiber Company, they initiated a collaboration with a circular technology innovator to grow the industry share of textiles recycled into new textiles, which currently is at only 1%.

Zalando had previously teamed up with sustainable fashion innovation platform, Fashion for Good, and the Berlin-based startup, circular.fashion, to develop the redeZIGN for Circularity capsule collection and with the Ellen MacArthur foundation to accelerate a circular economy in fashion.

Source: Infinited Fiber Press Release

Image Source: Google Images

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