Bestseller invests in three sustainable start-ups
Danish retailer Bestseller and its investment platform Invest FWD have announced that they will work with three new sustainable start-ups.
The innovators include Circular Systems, Nature Coatings and Evrnu, all of which were selected for their potential to change the industry and contribute to a more circular clothing cycle. The investments are part of Bestseller’s progress in achieving its mission to become a “climate positive” and “fair for all” retailer.
Each company targets a niche of sustainable innovation, offering new solutions to larger problems. Nature Coatings is the developer of a black pigment, sustainably produced from wood waste, while Evrnu specializes in bioengineered fibers and regenerative cellulosic systems. Circular systems also include textile and food waste which contributes to the production of conventional yarns.
Reach commercial scale
The announcement follows Bestseller’s recent investment with Finnish textile innovator Infinited Fiber Company. Each investment firm has worked closely with the retailer in the past to ensure that it matches the brand’s values and has the potential they are seeking.
“It is extremely important that big brands are willing to invest in companies like these, otherwise their promising innovations will not reach commercial scale,” said Camilla Skjønning Jørgensen, Head of Sustainable Materials and Innovation at Bestseller, in a press release. “With these investments, we are showing that we are ready to step back in our value chain, by investing in fiber. This is the direction the entire industry needs to follow, and I can say the same that Bestseller is not done with exploring for investments in this space.
The new investments add to the growing portfolio of sustainably innovative companies that have partnered with Bestseller. At the end of 2020, Bestseller launched the Fashion FWD Lab platform created to identify innovations in sustainable fashion and generate partnerships on pilot projects that house such innovations.
Previous collaborations have included alternative leather producer Beyond Leather and The Organic Cotton Accelerator, which aims to bring safety and social and environmental development to the cotton production industry.
“These innovations all have one thing in common: the potential to drive change in the fashion industry,” says Jeppe Bredahl of Invest FWD. “We believe that the necessary changes 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 that helps accelerate positive outcomes for innovators and the industry at large on the most critical sustainability issues spanning the full lifecycle of the company. fashion.