Hugo Boss Group has linked up with Zürich-based venture capital platform Collateral Good to launch a €100 million ($108m) fund to accelerate the sustainable transformation of the textile and fashion industry. The fashion brand is to put up about 10% of the target of the ‘Collateral Good Ventures Fashion I’ fund which will subsidise new companies in the startup, early growth and potential stages which are developing innovative solutions and technologies.
“The partnership with Collateral Good perfectly complements our sustainability strategy ‘For a bold and better future,’ which strives for a planet free of waste and pollution. Through this new form of investment, we will look for new solutions to target areas such as increasing circularity, using only nature-positive materials, eliminating microplastic pollution and achieving zero emissions,” said Boss chief executive officer Daniel Grieder.
The fund will invest in projects including recycling textiles, upcycling raw materials, preventing microfiber release as well as repair and care solutions.
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