Hugo Boss, a leading worldwide premium fashion brand, has provided financial backing for a new sustainable fashion fund launched by Collateral Good, a climate-first venture capital platform located in Zürich. The recently established venture capital firm is committed to making global investments in cutting-edge technology, with a target of €100 million. Its main objective is to hasten the transition of the fashion and textile industries toward sustainability.
The fashion industry is responsible for more than 8% of the world’s greenhouse gas emissions and consumes a significant amount of water and chemicals. For these reasons, the Collateral Good Sustainable Fashion fund will invest an initial € 1 to € 3 million into 20 to 25 start-ups that are located throughout the fashion value and supply chain.
These investments will cover a range of topics, including supply chain transparency, innovative dyeing techniques, recycled raw materials, and textile recycling.
Hugo Boss CEO Daniel Grieder was excited about the partnership and emphasized that both companies are working together to support innovative technology that will advance sustainability in the business. Investigating how these developments might be incorporated into larger-scale goods and procedures is their common objective.
Collateral Good’s founder and managing partner, Michael Kleindl, also emphasized how they support HUGO BOSS’s effort to decarbonize the fashion sector. This project is a big step in the direction of encouraging sustainability in the fashion industry.
