Zalando, Europe’s leading online platform for fashion and lifestyle, invests in the circular fashion and textile technology group Infinited Fiber Company. 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 fiber Infinna™.
Infinited Fiber Company’s technology turns cellulose-based raw materials, like cotton-rich textile waste, into Infinna™, a unique, premium-quality regenerated textile fiber 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.
Infinited Fiber Company co-founder and CEO Petri Alava says: “We are delighted to welcome Zalando as a new strategic investor into our circle of partners, and see their commitment as further indication of the fashion industry’s strong belief in our innovation. Zalando’s vast brand portfolio and circularity initiatives provide a great basis to deepen our collaboration and to secure feedstock for our flagship plant.”
As part of its sustainability strategy, Zalando has committed to apply the principles of circularity and extend the life of at least 50 million fashion products by enabling circular choices and driving behavior change towards circular products and experiences. An important step to reach Zalando’s circularity ambition to become a fully circular business is collaboration with experts and partners to test and scale circular services and solutions to support systemic change within the industry.
Zalando Co-CEO David Schneider: “We want to be part of the solution for a more sustainable fashion industry. With the investment in Infinited Fiber Company, we initiate a collaboration with a circular technology innovator to grow the industry share of textiles recycled into new textiles, which currently sits at only one percent.”
