04 September 2019, India:
The Good Fashion Fund launches today, spearheading systemic change in the apparel and footwear supply chain by investing in the implementation of innovative technologies in India, Bangladesh and Vietnam.
Initiated by Fashion for Good, the Fund is a collaboration between C&A Foundation, Hong Kong based The Mills Fabrica and FOUNT.
The new fund provides impact lending tools to finance investments in supply chain innovations specifically in India, Bangladesh and Vietnam as well as other areas throughout Asia.
Leslie Johnston, Executive Director C&A Foundation said, “We all know that ‘business as usual’ will not result in the fashion industry being a true force for good. Innovation is critically needed. And yet, without sufficient funding, many innovations are unable to scale. We are therefore proud to be an anchor investor in the Good Fashion Fund which – with its high risk appetite and focus on getting innovations into the supply chain – will address this finance gap.”
Vanessa Cheung, Founder, The Mills Fabrica, said, “With the launch of the Good Fashion Fund, we are delighted to partner with C&A Foundation, Fashion for Good and FOUNT to create a new platform to address the financing gap for sustainable innovations. We look forward to supporting the Fund with our network and partners in Asia.”
Katrin Ley, Managing Director Fashion for Good said, “Disruptive innovation is needed to shift the Fashion Industry from a model of ‘take-make-waste’ towards a more circular and regenerative system. While the technology exists today to move forward towards circularity, it is not yet being scaled. The Good Fashion Fund provides the resources, tools and incentives needed to bridge the innovation gap, bringing these innovations to the mainstream.”
Bob Assenberg, Director Good Fashion Fund and FOUNT partner said, “We are thrilled to be working with Fashion for Good, C&A Foundation and The Mills Fabrica to generate substantial impact within the apparel value chain in Asia, an initiative that fits FOUNT’s impact and sustainable investment strategy very well. The Fund demonstrates how to invest beyond sustainability towards a restorative and regenerative apparel supply chain and addresses the need in the local markets for long term financing for manufacturers and contributes to multiple SDGs.”
(Image – Fashion for Good)