HUGO BOSS [1], the German luxury brand, has committed to strengthening its efforts towards a sustainable future by investing in Zürich-based venture capital platform Collateral Good. Together, they are launching a €100 million ($108 million) fund aimed at accelerating the sustainable transformation of the textile and fashion industry globally.
The luxury fashion house will contribute about 10% of the target for the ‘Collateral Good Ventures Fashion I’ fund. This fund will support startup companies in their early growth and potential stages, focusing on innovative solutions and technologies along the entire value and supply chain. Target recipients include those developing upcycling of raw materials, novel dyeing materials, methods for preventing microfibre releases, as well as repair and care solutions. The Fashion fund will initially invest €1 to €3 million into 20 to 25 startups across the fashion value and supply chain.
Martin Ott, the former Managing Director for Adidas Ventures, leads the investment team. Michael Kleindl, Founder and Managing Partner of Collateral Good, stated, “We are incredibly excited to announce leading premium fashion company Hugo Boss as a lead investor in Collateral Good Ventures Fashion I. Hugo Boss is the perfect ally in our mission to decarbonize the fashion industry.”
Daniel Grieder, the Chief Executive Officer of Hugo Boss, believes that the partnership with Collateral Good complements Hugo Boss’s sustainable goals. Hugo Boss’s sustainability strategy, “For a Bold and Better Future,” strives for a planet free of waste and pollution. He said, “Our CLAIM 5 strategy defines our growth trajectory, but at the same time, it is guided by our commitment to be sustainable throughout.”
The global fashion industry accounts for more than 8 percent of global greenhouse gas emissions and relies heavily on water and chemicals. The collaboration between Hugo Boss and Collateral Good will provide innovative solutions targeting areas such as increasing circularity, using only nature-positive materials, eliminating microplastic pollution, and achieving zero emissions.
Sources:
[1] HUGO BOSS INVESTS IN STRATEGIC PARTNERSHIPS WITH SUSTAINABLE VENTURE CAPITAL FUND COLLATERAL GOOD
