E-commerce entrepreneur says 100% renewable fashion is “inevitable”
25/05/2017
Ms Duma said at the 2017 Business of Luxury Summit, organised in Lisbon in mid-May by the Financial Times, it is “inevitable” that the clothing industry will become “100% renewable”. She told the audience of business leaders: “In 2014 consumers purchased around 80 billion items of clothing and already 50% of these garments are in landfill.”
Textile ideas that FTL Ventures will invest in immediately include Italian start-up Orange Fiber, which makes yarn and fabric from waste from the citrus fruit industry. Ms Duma also mentioned ideas on how to endow garments with antimicrobial and anti-odour functionality, including silver-enhanced garments from a company in Germany and a Scandinavian idea that uses mint instead of silver for the same purpose.
FTL Ventures has an initial fund of $50 million to invest in these and other ideas.
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