Inditex
Canvas Category OEM : Retail
Our attitude towards innovation is a bold, outside-the-box approach because our commitment to improvement is constant. We take risks when we see a better way—for our customers, for our planet, and for fashion that moves the world forward—through the most inspiring experience. We also prioritize proximity—with a very significant part of manufacturers who handle our end product located close to our headquarters, mainly from Spain, Portugal, Turkey and Morocco. Having them nearby helps in our efforts to consume less energy and reduce our carbon footprint. It also allows our team to work closely with our suppliers throughout the whole production process. In conjunction with short runs, proximity offers unparalleled flexibility and control over the process; giving us the ability to create an incredibly wide range of lasting, responsible fashion. We believe our stores and online deserve best-in-class support. We refresh every one of our stores and online platforms based on customers’ demands. We’re constantly improving the process to keep this standard, while innovating to set the bar even higher. By adopting and developing cutting-edge technologies like Radio Frequency Identification (RFID), we’re able to integrate the management of stock across all brands and help store associates locate items anywhere—speeding up stocktaking and freeing up time for better customer care.
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Zara owner Inditex launches fund to finance textile innovation
Zara owner Inditex has launched a fund to invest around 50 million euros ($54.75 million) in innovation projects, mainly in the textile sector. The new fund, to be managed by the firm Mundi Ventures, aims to support the fashion giant’s strategy of backing new start-ups to find new materials or technologies that have a lower impact on the environment.
Inditex, which has pledged to halve emissions in its entire supply chain by 2030, has invested in U.S. firms such as Circ, which focuses on textile-to-textile recycling, and more recently in Galy, a U.S. start-up developing a process to produce cotton in laboratories from plant cells.
GALY Raises $33 Million in Oversubscribed Series B Financing to Advance its Cellular Agriculture Platform
GALY CO., a climate tech company pioneering the development of first-of-its-kind sustainable cellular agriculture products, announced the closing of an oversubscribed $33 million Series B financing led by Breakthrough Energy Ventures (BEV) with additional participation from new investors H&M Group and Inditex. In addition to BEV, H&M Group, and Inditex, the oversubscribed investment round was joined by repeat investors including Material Impact, John Doerr’s family office (Eighty Eighty Group), Artesian, BRINC and Reaction Global. Additionally, there was participation from Indorama Ventures, Endeavor Scale-up Ventures, and Unreasonable, among others.
The funds will primarily fuel the expansion of GALY’s research and development on its innovative cellular agriculture platform and its flagship product, “GALY Cotton,” which uses 99% less water and 97% less land than traditional cotton while emitting 77% less CO2, as it advances towards pre-industrial quality and scale.
Infinited Fiber Company Successfully Completes EUR 40 million Development Financing Round
Technology and fashion company Infinited Fiber Company has successfully completed a two-part development financing round totaling 40 million euros, with significant investments from new investors Inditex, TTY Management, Youngone and Goldwin, in addition to existing ones. After the development financing round, Inditex, TTY Management and H&M Group are the largest shareholders of Infinited Fiber Company.
Infinited Fiber Company is a Finnish technology and fashion company with a patented technology that turns cotton-rich textile waste, such as worn-out t-shirts, jeans, and production scraps into Infinna™, a virgin-quality, versatile textile fiber with the soft and natural look and feel of cotton. Infinna™ is biodegradable, contains no microplastics, and at the end of their life, garments made with it can be recycled in the same process together with other textile waste, enabling circularity in fashion.
BASF and Inditex make a breakthrough in textile-to-textile recycling with loopamid, the first circular nylon 6 entirely based on textile waste
BASF and Inditex jointly announce a breakthrough in their efforts for boosting recyclability in the textile industry. With the launch of loopamid®, a polyamide 6 (PA6, also known as nylon 6) made from 100 percent textile waste, BASF is providing the first circular solution for nylon apparel made entirely from textile waste. Zara has turned the material into a jacket made from 100 percent loopamid. Following a “design for recycling” approach, all parts, including fabrics, buttons, filling, hook and loop and zipper are made from loopamid.