15-Years of Activating Impact! 🌎 3 to go to achieve REAL IMPACT.
It was truly humbling heading to the 2024 GFA Summit this year, especially as it marks a significant milestone of 15 years since the inaugural Summit (formerly, Copenhagen Fashion Summit), hosted in 2009.
Since then, the forum has evolved into an unmissable date in the fashion calendar – relevant for those wishing to stay ahead on sustainability priorities, gain tangible updates on policy developments, explore new innovations, and reflect on sociocultural influences in the ever-changing fashion landscape.
The theme this year, spoke to the individuals at ProcureCircular. A project that was born from extensive research from the team members connected to the project to date. The initial founders of the business have had backgrounds working in the industry, and in sustainability and found it truly shocking how we are still not there in reaching industry goals for the transition that is needed. ProcureCircular was born simply from the founders wanting to create a digital systems change tool that would provide a support in aiding organisations achieving impact and reaching their net zero goals.
Unlocking the Next Level, took stock of the evolution and the progress made so far, but, moreover a look ahead at what actions must urgently be implemented in the near term and the gaps that must be filled to unlock the next level to accelerate industry transformation.
Ideas and solutions are still brimming across organisations. It is now up to the connected network and individuals with the aptitude to make it happen. We see ourselves as such a group, committed and pledge to roll-out a tool that can generate change, and at scale. We look forward to connecting and working with companies like yourselves to make this happen.
#recirculationofresources#circulareconomy#sustainability#netzerogoals#circular#materials#textiles
💥 ANNOUNCEMENT💥
🔉 Today we are proud to announce that our portfolio company TrusTrace has secured a $24 million B-round, led by Circularity Capital with participation from existing investors Industrifonden and Fairpoint Capital. Allowing TrusTrace to further accelerate its global expansion ambitions by strengthening its presence in key markets, deepening product innovation and expanding collaborations – helping to create a global network where all value chains are traceable, circular, and fair.
TrusTrace is the leading platform for traceability and compliance data management for high volume footwear and textile value chains. Standardizing how supply chain and material traceability data is captured, digitized and shared between brands and suppliers. Their platform now tracks over a billion products, proving its critical value in supply chain traceability!
We at BackningMinds are first investors and proud backers since 2019 and are beyond proud of the amazing foubders and the team! 💫💫
Read more in Dagens Industri: https://lnkd.in/dH5xh-fnSara WimmercranzSara ResvikSusanne NajafiShameek Ghosh
Reading through lots of posts related to Renewcell's bankruptcy news since this morning, I felt compelled to share my two cents on this topic. Good to see people posting with lots of emotions, but there's also a need for an objective analysis.
In a world driven by shrewd capitalism, the question arises: How many consumers prioritize environmental considerations over cost? The answer, perhaps, lies in the remarkable ascent of brands like Shein and Temu. This underscores a crucial aspect missing in the sustainability dialogue, particularly from innovators.
There's a tendency to over-promise and under-deliver in the sustainability realm. How many capsule collections do the innovators expect for the brands to launch before going for the business as usual?
Renewcell's situation underscores the need for a deeper exploration of the disconnect between stated values and actual consumer choices, as well as the challenges of integrating sustainability into core business practices.
The choices we make as consumers matter!✨
Chief Commercial Officer of Renewcell, Tricia Carey, suggests that we — as consumers — have a voice that can influence the whole market. Let’s be curious about what we are buying and what the industry offers so that we can purchase more selectively and help drive the industry towards greater sustainability.
“They need to be very curious and try to understand what is happening. And, they need to also be able to voice their opinion of what they need so that more sustainable products can come into the market.”
Learn more about Renewcell at https://lnkd.in/eJYH6u3H
#innovation#sustainability#sustainablefashion#FashionRevolution
🔥 Exciting News! Stockholm's TrusTrace just secured a €22M boost from leaders in circular economy investment, redefining fashion's sustainability journey. Their SaaS platform is a game-changer for brands looking to weave transparency into their textiles. Ready to trace the future of fashion? 💚👗 #TrusTrace#Sustainability#FashionInnovation#InvestmentNews#Traceability#CircularEconomy
Follow the thread to our latest blog post for the full story! ➡️ [Link to blog post]
Another Renewcell story, this one more forward-looking. One of the most important takeaways that will continue to be one of the most overlooked:
The fashion industry starts and ends in the Global South, yet most of its sustainability initiatives are based - and recycling infrastructure being built - in the US and Europe. Red flag #1, and really grateful to Juliette Goulet for her poignant post the other day.
Some startups are just really, really over fashion's reluctance to act. “I can’t wait any more for brands,” said Joey 🌱 Pringle — who offered similar advice to what Renewcell's Tricia Carey also shared: Waiting for fashion to get its act together is a risky bet as far as scaling a new technology — and meanwhile there are other industries, from home decor to sports, where new materials are also needed. Maybe that's where startups should be spending more of their time.
But, counterpoint, it's also possible that the bankruptcy news lit a fire under some brands that are realizing their passive positions are going to come back to haunt them. Canopy's Nicole Rycroft says her phone started ringing off the hook once the news broke, from both small brands and some of the biggest companies in fashion, all looking to get more involved in Canopy’s efforts to scale next-gen materials.
More on Vogue Business this week, thank you Veronica ChouRachel Van Metre Kibbe for weighing in:
📢 Excited to share a reminder about a valuable learning opportunity coming up soon! I will be participating in an event hosted by Fairly Made® made, “Preparing for the Digital Product Passport" on March 7th, 12pm - 1pm CET.
Together with industry leaders Lauren Bartley, Chief Sustainability Officer at Ganni A/S, Josephine Philips Phillips, Founder and CEO at SOJO, and Rosie Mills, International Partnership at Fairly Made®, we will explore crucial topics including:
🌐 The impact that the upcoming DPP will have on the fashion sector
🧩 The key challenges companies face when integrating the DPP into their operations
🔍 Strategies to begin preparing for the initiative (traceability and impact measurement)
And much more…
Secure your spot by signing up through the link in the comments section below!
#digitalproductpassport#sustainablefashion#traceability#impactmeasurement#circulareconomy#supplychain