Fashion for Good
Sustainable banking company Rabobank has agreed to invest in the Good Fashion Fund which aims to provide capital for sustainable solutions in fashion industry supply chains. The financing from Rabobank means the Good Fashion Fund now has access to around US$19 million – close to a third of its target of US$60 million – to invest in factories in Asia.
“Good Fashion Fund accelerates the positive changes that the sector and supply chain require and can serve as a catalyst for the industry. Rabobank is proud to support the fund as one of the cornerstone (debt) investors, which underpins our mission “Growing a better world together”. Bas Rüter – Global Head of Sustainability Rabobank
The fund provides long term USD funding to apparel and textile manufacturers in India, Bangladesh and Vietnam as well as other areas throughout Asia to implement impact technologies.
The vision for the Good Fashion Fund is for manufacturers in the apparel supply chain to invest and reinvest in innovations that deliver both economic growth and good fashion practice. Mobilising the use of safe and recyclable materials, clean and efficient energy, closed-loop manufacturing and the creation of better working conditions and fair jobs and growth, all in line with the FIVE GOODS: Good Energy, Good Water, Good Materials, Good Lives and Good Economy.
The Good Fashion Fund is initiated by Fashion for Good and managed by Amsterdam based impact investment firm FOUNT. FOUNT provides excellent investment and fund management expertise in emerging countries while Fashion for Good (also acting as sub-advisor to the fund) provides an unrivalled industry network and strong deal pipeline, as well as access to innovations and technical knowledge.
The Fund’s blended structure combines risk-tolerant capital with private sector investment, that allows for flexibility and tailored financing to best fit each manufacturer’s situation.
Small to medium manufacturers whose products or services are in line with these criteria and are looking to implement best-in-class technology and equipment, will be eligible for funding. The Fund is also mandated to support larger manufacturers committed to investing in early stage and highly disruptive technologies.
FOUNT is an impact investment firm based in Amsterdam, active in emerging markets by supporting business solutions that combine demonstrable social and environmental impact with eligible financial returns. FOUNT offers high-quality advisory services and fund and investment management services for various sectors including sustainable apparel, agriculture, clean cooking and affordable housing.
About Fashion for Good
Fashion for Good is the global platform for innovation, made possible through collaboration and community and brings the entire apparel industry together in their shared ambition: to enable a circular fashion industry. Fashion for Good consists of six complimentary initiatives: an accelerator and scaling programme to identify and scale circular and innovative technologies and business models, the Good Fashion Fund, a ‘how-to guide’ for circular fashion, a co-working space with likeminded organizations and the consumer focused Fashion for Good Experience, a unique interactive museum focusing on sustainable fashion and innovations based in Amsterdam.
Fashion for Good’s programmes are supported by founding partner Laudes Foundation (formerly C&A Foundation), co-founder William McDonough and corporate partners adidas, C&A, CHANEL, BESTSELLER, Galeries Lafayette Group, Kering, Otto Group, PVH Corp., Stella McCartney, Target and Zalando and affiliate partners Arvind, Norrøna, vivobarefoot and Welspun.