BERLIN – German online fashion retailer Zalando has announced it is investing textile recycling company Infinited Fiber Company. The investment completes a funding round recently led by H&M Group, in which Adidas and Bestseller’s investment arm Invest FWD A/S also took part.
Infinited Fiber Company will use the proceeds to prepare for building its flagship factory in Finland in response to the growth in demand from global fashion and textile brands for its regenerated textile fibre Infinna. Made from cellulose-rich waste such as discarded textiles, used cardboard or rice straw, it is claimed Infinna can also be blended with other fibres such as viscose.
Infinna is said to be biodegradable, contain no microplastics, and at the end of their life, garments made with it can be recycled in the same process together with other textile waste.
Both companies are also signing a letter of intent that includes Zalando providing raw materials to Infinited Fiber Company in the future and Zalando using the regenerated Infinna fibre for its private label production.
Infinited Fiber Company co-founder and CEO Petri Alava said: “We are delighted to welcome Zalando as a new strategic investor into our circle of partners, and see their commitment as further indication of the fashion industry’s strong belief in our innovation. Zalando’s vast brand portfolio and circularity initiatives provide a great basis to deepen our collaboration and to secure feedstock for our flagship plant.”
Zalando Co-CEO David Schneider added: “We want to be part of the solution for a more sustainable fashion industry. With the investment in Infinited Fiber Company, we initiate a collaboration with a circular technology innovator to grow the industry share of textiles recycled into new textiles, which currently sits at only one percent.”
