Bestseller announces three new investments
Bestseller and its Invest FWD investment arm for sustainable fashion have announced that they will be working with three new innovative businesses.
The owner of brands such as Jack & Jones, Vero Moda and Vila, launched its innovation platform Fashion FWD Lab at the end of 2020 and since then has been working with Invest FWD to identify the right investment opportunities.
After investing in Infinited Fiber Company a month ago, the company has now added Circular Systems, Nature Coatings and Evrnu to its list.
Nature Coatings transforms wood waste into high performing black pigments while Evrnu technologies are used to create engineered fibers with performance and environmental advantages from discarded clothing. Meanwhile, Circular Systems transforms waste into fiber, yarn and textile fabrics for the fashion industry.
Although investments in new innovations involve certain risks, Bestseller said its Fashion FWD Lab has been working with the companies for some time to ensure that they are the right fit with the necessary potential.
Camilla Skjønning Jørgensen, Bestseller’s sustainable materials and innovation manager, said: “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 fibre 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.”
