Mango invests in Recovo to champion sustainability
Mango is strengthening its commitment to sustainability by investing in Recovo, a start-up platform that resells textile waste.
Through textile recovery, companies can give a second life to textile surpluses and minimise their environmental impact. Recovo presents a business model which contributes to a circular future through technology, traceability and community action.
The new agreement, established as part of the Mango StartUp Studio project, sees the Spanish-based fashion brand support Recovo through a convertible equity loan.
The project includes an acceleration programme in which entrepreneurs can learn about the Mango operation, as well as access mentoring sessions, training and collaboration initiatives.
The training covers "the purchase and sale of textiles in a major fashion company, product architecture and UX for personalised experience, and the development process and architecture of an own marketplace".
The news follows Mango's expansion plans in the UK, with the opening of new three stores this autumn.
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