Online fashion retailer Zalando has taken another step in its quest to make its operations more sustainable. It is co-investing in a capital round of the Finnish company Infinited Fiber, which recycles fibres from cellulose-rich materials ranging from old textiles to cardboard and wheat straw.
Capital round already raised 30 million euros
Zalando's exact investment sum remains undisclosed. The online fashion platform is one of the parties participating in a capital round at Infinited Fiber, alongside other big players such as H&M, Adidas and the investment division of the Danish fashion group Bestseller.
The investment made by Zalando is the final puzzle piece of the capital round, which Infinited Fiber launched at the beginning of the summer and with which it has already raised 30 million euros. The money is to be used primarily to finance a brand new flagship store in Finland.
For Zalando, the investment is a new step towards realising its aspiration of extending the lifespan of about 50 million garments by 2023. Zalando will be one of the suppliers of garments that Infinited Fiber will use to recycle into Infinna, a textile fibre similar to cotton. Zalando has signed a letter of intent in which it commits to using the fibre to produce its private-label collection.