Danish fashion group Bestseller has announced its investment plans into three start-up companies, that all have ‘great potential to change the fashion industry’, as the company claims.
These start-ups include Circular Systems, Nature Coatings and Evrnu which according to Bestseller, are all innovators that have shown great promise, addressing different aspects from sustainable feedstock to sustainable processes.
Circular Systems is a materials science company. Their circular plus regenerative technologies provide systemic solutions for transforming waste into valuable fiber, yarn, and fabrics for the fashion industry. The fibers and materials that can be produced include Agraloop BioFibre (leftovers from food & medicine crops made into fibers), Orbital Hybrid Yarn (natural-fiber-rich performance with organic and recycled fibers), and Texloop Recycling (made from textile waste).
Nature Coatings transforms wood waste into high performing black pigments. By using its pigment, Nature Coatings claims that millions of tons of CO2 can be prevented from entering the environment each year. The wood waste is sourced from sustainable FSC certified forests. Nature Coatings' manufacturing process is closed loop and a circular system.
Evrnu is a textile innovations company that has invented a new kind of engineered fiber called NuCycl. Evrnu’s technology enables entirely new products to be made from discarded clothing, not just once but multiple times. Even the toughest type of textile waste – 100 percent post-consumer – can be turned into new materials with NuCycl, Evrnu states.
"It's extremely important that major brands are willing to invest in companies like these - otherwise their promising innovations will not reach commercial scale. With our commitment we signal trust and intent towards the innovators and towards the industry. Consequently, we must also accept the accompanying risk. With these investments we demonstrate that we are willing to move backwards in our value chain, investing at fiber level. This is the direction the entire industry needs to follow. And I can say as much that Bestseller is not done with exploring investments in this space," says Camilla Skjønning Jørgensen, Bestseller's sustainable materials & innovation manager.
Bestseller makes this investment through Invest FWD, Bestseller's investment arm for sustainable fashion which relates to Bestseller’s innovation platform Fashion FWD Lab, founded at the end of 2020.
"These innovations all have something in common: the potential to generate change in the fashion industry," says Jeppe Bredahl, investment manager, Invest FWD. "We believe that the changes needed within the fashion industry require strategic support for innovations to thrive and reach commercial scale. With Invest FWD we can combine access to capital with a brand perspective which contributes to accelerating positive outcomes for innovators and the broader industry on the most critical sustainability issues covering the full life cycle of fashion."