Fast-fashion giant Inditex invests in a Clean Tech Start-Up
There is no running away from the impact fashion has on the environment. And, with increasing pressure industry-wide, fast fashion brands are answerable to consumers now more than ever. Investing in sustainability-focused start-ups is a starting point for Zara's owner Inditex, a Spanish company leading the space for fast fashion worldwide.
Circ is a clean-tech start-up aiming to recycle 10 billion garments, represent 10% of the global apparel market, and save more than 100 million trees by 2030. In their Series B round, they bagged more than $30 million in funding from fashion giant Inditex and other players like Marubeni and Breakthrough Energy Ventures.
As consumers become more conscious of their carbon footprint, and regulatory authorities try to tighten loose ends to curb the impact the industry has on the planet, conglomerates & brands are finding it harder to keep up. Increased transparency is imperative for growth, as is tackling climate risks in the long run, pushing industry leaders to use the thriving space for clean tech to help them reach their sustainability goals.
With the speed at which trends are evolving, due to the enormous growth in social apps like Instagram & Tik Tok, fast fashion brands will find it nearly impossible to ditch polyesters. And, of course, rising competition in such a price-competitive market doesn't help. So, how is Inditex tackling the conflict between the speed at which trends are changing & their social and environmental impact?
According to BoF, Inditex has set a goal for all the polyester in their collections to be recycled by 2025. Efforts to reduce the impact of the other materials used in their products is also underway.
Circ's proprietary technology has the power to separate synthetic fabrics from natural ones, recycling them to their raw state, to eliminate the demand for new fabrics and make recycled materials the new normal. Ground-breaking technology like this will close the loop in the entire supply chain, creating a space for ever-changing trends to thrive and reduce their social and environmental impact.
The California based clean-tech start-up aims to work with leaders in the fashion space, allowing Circ to scale steadily over the coming years. The science behind it is complex, although how they explain it seems relatively straightforward. Using water, pressure & 'responsible chemistry' to take artificially made products and (re)produce useful new materials at affordable prices.
Circ is just one of the many players in the industry that is using technology to close the loop and make fashion circular, less wasteful, and more eco-conscious. In addition, prominent players like Inditex are jumping at the golden opportunity to address their environmental impact today and work towards a cleaner space in the future.
Read more about Inditex's sustainability goals here or explore Circ's state-of-the-art recycling technology here.