Bestseller invests in three sustainable start-ups
Danish retailer Bestseller and its investment platform Invest FWD have announced it will fund three emerging innovators: Circular Systems, Nature Coatings, and Evrnu.
The investment news comes only a month after the company joined Adidas and H&M to support Infinited Fiber Company’s most recent investment round, in which it secured $35.6 million to help grow its innovative fibre technology.
The three companies have been identified as innovators that have previously shown great promise, addressing different aspects from sustainable feedstock to sustainable processes.
The investments are part of Bestseller’s progress in reaching its sustainability goals of becoming a climate positive and fair for all retailer. Each company has been working with the retailer to ensure it fits with its existing brand values and has the future potential it is seeking.
Camilla Skjønning Jørgensen, Bestseller’s Sustainable Materials & Innovation Manager, commented: “It’s extremely important that major brands are willing to invest in companies like these – otherwise their promising innovations will not reach commercial scale. With our commitment we signal trust and intent towards the innovators and towards the industry. Consequently, we must also accept the accompanying risk.
“Brands and innovators are inherently interdependent. Besides helping the innovators reach scale, they also help us access the still limited quantities of more sustainable materials. We only succeed in reaching our North Star, if they succeed.
“With these investments we demonstrate that we are willing to move backwards in our value chain, investing at fibre level. This is the direction the entire industry needs to follow. And I can say as much that Bestseller is not done with exploring investments in this space.”