SHEIN is inviting outside businesses and investors to join its new Circularity Fund for the fashion and textile industry ahead of a potential IPO on the London Stock Exchange.
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Ahead of a possible London IPO, SHEIN has unveiled plans to invest 250 million euros into European fashion’s circular economy. But can the fast-fashion giant – which launches 6,000 new apparel styles a day – really make the industry less wasteful? Last week, Zero100 VP Research Steve Hochman spoke to WWD about just that. 🗣️ “SHEIN’s understanding of how to work with data, combined with the management DNA, and their digital capability are all transferable [to circular practices]… It will be a massive transformation, but SHEIN is set up as well as anyone to make the leap.” Check out the full story here: https://lnkd.in/exQhHwiK #SupplyChain #CircularEconomy #SHEIN
Shein Invests 250 Million Euros in Circularity, Entrepreneurs in U.K., Europe Amid IPO Speculation
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Chief Client Officer | Managing Partner | Sustainability, Purpose | Brand, Communications | Leadership | Mentor
I feel naive that I’m surprised that this news from Shein has split opinion on my feed. I haven’t commented about the fund itself as many others have already done so very eloquently - but the differing responses to Shein’s announcement have really highlighted the gap in my network between those in the ‘sustainability’ bubble and those more in the mainstream. To be clear, this Shein fund is nonsense. At very best, it’s greenwashing. The Shein business model is in absolute contravention to how I believe business should be done. At least that’s my opinion. So why the differences of opinion I’ve seen in the last week? I get it. You’re in business to maximise value for yourselves and for your company. But at any cost? and with such a blinkered view of what long-term success really means? For brands, despite progress, I see that compliance is largely still king. Sustainability is often considered close to philanthropy, purpose is a marketing tool and huge energy is put in to reports that are still hefty tomes, read by 3 people. Imagine if that same energy was put in to understanding what will make your business truly sustainable in the long-term, making system-changing plans for change. There is fear in making bold decisions but also still a massive gap in knowledge and understanding that drives that fear. For agencies, the opportunity therefore seems clear. But instead of focusing where their power, expertise and influence lies, I find the conversation around sustainable brands largely faces inwards. They’re proud of their own carbon plans and social initiatives but aren’t considering the true impact they have through the work they do for their clients and the true change they could influence to create deep change. So, I get it. But for those who have responded more positively to Shein’s announcement, I’d love to hear your thoughts. And those in my big sustainability bubble (and yes, it’s still a bubble) - what can we do to broaden the conversation and close the gap? https://lnkd.in/emYym7M2
I’m thrilled to share that SHEIN is launching a €200 Million Circularity Fund, as part of a broader commitment to invest €250 million in the EU and UK over the next five years. Our aim is that the Fund will drive R&D and innovation in #circularity for the entire #fashion industry by supporting startups and businesses in the EU and UK that are developing cutting-edge #textile recycling technologies and sustainable materials. We believe that SHEIN has a responsibility and an opportunity to accelerate innovations that can address the environmental footprint of the fashion industry. The Fund will be exploring both investments in early stage start-ups, as well as offtake agreements or other commercial partnerships with more mature start-ups and businesses that are ready to scale with us. Our successful partnerships with innovators in sustainability like Queen of Raw have shown how SHEIN’s platform can serve as a catalyst for the widespread adoption of new solutions. We look forward to engaging and partnering others to drive progress in this space. As part of this €250 million commitment to the EU and UK, we are also working on some exciting plans to support brands, designers, and artisans across the region, as well as potential investments in R&D or pilot SHEIN production facilities in Europe or the UK. I look forward to sharing more updates on this in the months ahead. #SHEIN https://lnkd.in/g89sThSV
SHEIN launches €200 Million Circularity Fund in the UK and the EU and commits to investing €50 million in broader ESG efforts
https://www.sheingroup.com
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I invest in and scale impact brands at Kind.Community | 2x exits | Dragon slayer | TEDx Speaker | ᴍᴀᴋɪɴɢ ᴛʜᴇ sᴜsᴛᴀɪɴᴀʙʟᴇ ᴀᴛᴛᴀɪɴᴀʙʟᴇ 💚
Is this greenwashing or the start of something good? I can’t help but think this is just another ‘pledge’ or trick to boost reputation ahead of its IPO. 👀 Similar to Bezos 10b earth fund ahead of being sued by its workers during covid. On the surface something is better than nothing, but when you realise that €200m is less than 0.7% of its 2023 revenue. Not even committing 1% is a joke and laughable. Here are some horrible facts: 🤮 6000 NEW items PER DAY 🤮 Average cost of an item is £7.90 (how much are you paying the workers!?) ☁️ Increased carbon emissions by 50% and produces more than the entire country of Paraguay. Tell me how a 0.615% fund is going to change any of this!? Here’s a few things you can do: Stop listing new items. Pay and treat workers fairly. Factor in true costs and offer lifetime guarantees. Contribute portion of revenue to climate regeneration. Happy to talk this through and start actioning better solutions.
I’m thrilled to share that SHEIN is launching a €200 Million Circularity Fund, as part of a broader commitment to invest €250 million in the EU and UK over the next five years. Our aim is that the Fund will drive R&D and innovation in #circularity for the entire #fashion industry by supporting startups and businesses in the EU and UK that are developing cutting-edge #textile recycling technologies and sustainable materials. We believe that SHEIN has a responsibility and an opportunity to accelerate innovations that can address the environmental footprint of the fashion industry. The Fund will be exploring both investments in early stage start-ups, as well as offtake agreements or other commercial partnerships with more mature start-ups and businesses that are ready to scale with us. Our successful partnerships with innovators in sustainability like Queen of Raw have shown how SHEIN’s platform can serve as a catalyst for the widespread adoption of new solutions. We look forward to engaging and partnering others to drive progress in this space. As part of this €250 million commitment to the EU and UK, we are also working on some exciting plans to support brands, designers, and artisans across the region, as well as potential investments in R&D or pilot SHEIN production facilities in Europe or the UK. I look forward to sharing more updates on this in the months ahead. #SHEIN https://lnkd.in/g89sThSV
SHEIN launches €200 Million Circularity Fund in the UK and the EU and commits to investing €50 million in broader ESG efforts
https://www.sheingroup.com
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I’m thrilled to share that SHEIN is launching a €200 Million Circularity Fund, as part of a broader commitment to invest €250 million in the EU and UK over the next five years. Our aim is that the Fund will drive R&D and innovation in #circularity for the entire #fashion industry by supporting startups and businesses in the EU and UK that are developing cutting-edge #textile recycling technologies and sustainable materials. We believe that SHEIN has a responsibility and an opportunity to accelerate innovations that can address the environmental footprint of the fashion industry. The Fund will be exploring both investments in early stage start-ups, as well as offtake agreements or other commercial partnerships with more mature start-ups and businesses that are ready to scale with us. Our successful partnerships with innovators in sustainability like Queen of Raw have shown how SHEIN’s platform can serve as a catalyst for the widespread adoption of new solutions. We look forward to engaging and partnering others to drive progress in this space. As part of this €250 million commitment to the EU and UK, we are also working on some exciting plans to support brands, designers, and artisans across the region, as well as potential investments in R&D or pilot SHEIN production facilities in Europe or the UK. I look forward to sharing more updates on this in the months ahead. #SHEIN https://lnkd.in/g89sThSV
SHEIN launches €200 Million Circularity Fund in the UK and the EU and commits to investing €50 million in broader ESG efforts
https://www.sheingroup.com
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Hot off the press! Exciting news from the fashion and sustainability world involving one of our portfolio companies: We're thrilled to see Queen of Raw featured in SHEIN's significant investment in circularity initiatives across the UK and EU! SHEIN, a global e-commerce fashion retailer, has just announced a €250 million investment to advance #circulareconomy practices in these markets and ESG efforts. As part of this initiative, SHEIN has been partnering with Queen of Raw to repurpose excess fabrics, highlighting the growing importance and attention of sustainable practices in the fashion industry. Queen of Raw's innovative software, Materia MX, rescues materials that were destined for landfills or incinerators and is now used to make new SHEIN garments. For deadstock #textiles, Queen of Raw is playing a crucial role in helping major #retailers like SHEIN reduce waste and improve #sustainability in their supply chains. This partnership demonstrates the scalable impact of Queen of Raw's technology. We're proud to support Queen of Raw as they continue to drive positive change in the fashion industry, turning potential waste into valuable resources and promoting more sustainable practices globally. This collaboration between an innovative startup and a major industry player showcases how technology-driven solutions can address significant environmental challenges in the #fashion sector is exactly what we need to see more of. Congratulations to the Queen of Raw team on this high-profile partnership and recognition! Read the full announcement below. #Sustainability #CircularEconomy #FashionTech #ImpactInvesting #WasteReduction
I’m thrilled to share that SHEIN is launching a €200 Million Circularity Fund, as part of a broader commitment to invest €250 million in the EU and UK over the next five years. Our aim is that the Fund will drive R&D and innovation in #circularity for the entire #fashion industry by supporting startups and businesses in the EU and UK that are developing cutting-edge #textile recycling technologies and sustainable materials. We believe that SHEIN has a responsibility and an opportunity to accelerate innovations that can address the environmental footprint of the fashion industry. The Fund will be exploring both investments in early stage start-ups, as well as offtake agreements or other commercial partnerships with more mature start-ups and businesses that are ready to scale with us. Our successful partnerships with innovators in sustainability like Queen of Raw have shown how SHEIN’s platform can serve as a catalyst for the widespread adoption of new solutions. We look forward to engaging and partnering others to drive progress in this space. As part of this €250 million commitment to the EU and UK, we are also working on some exciting plans to support brands, designers, and artisans across the region, as well as potential investments in R&D or pilot SHEIN production facilities in Europe or the UK. I look forward to sharing more updates on this in the months ahead. #SHEIN https://lnkd.in/g89sThSV
SHEIN launches €200 Million Circularity Fund in the UK and the EU and commits to investing €50 million in broader ESG efforts
https://www.sheingroup.com
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SHEIN announced a commitment to invest €250 million over the next five years, focusing on enhancing circularity efforts and supporting the local entrepreneurial ecosystem. The flagship initiative, the Circularity Fund, will receive €200 million to support startups and businesses in textile-to-textile recycled materials and innovative solutions, with SHEIN inviting co-investments from global entities. The remaining €50 million will support UK and EU designers, brands, and artisans through initiatives like the SHEIN X designer incubator program and onboarding businesses onto SHEIN’s Marketplace platform. “As a global leader in our sector, SHEIN has both a responsibility and an opportunity to accelerate innovations that can address the environmental footprint of the fashion industry. The Circularity Fund will build on our support for entrepreneurs and businesses at the forefront of innovation in circular initiatives, with a focus on supporting entrepreneurship and innovation in the UK and the EU, where some of the most exciting work in this space is taking place," said Donald Tang, SHEIN’s Executive Chairman. #SHEINInvestment #CircularityFund #SustainableFashion #FashionInnovation #UKBusiness #EUEntrepreneurship #EcoFriendlyFashion #RecycledMaterials #FashionTech #GreenFashion #LocalDesigners #SHEINMarketplace #FashionSustainability #NextGenTech #CircularEconomy #TextileRecycling
SHEIN launches €200 Million Circularity Fund in the UK and the EU and commits to investing €50 million in broader ESG efforts
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Retail Consultant and Trusted Advisor | Merchandising | Product Creation | Sustainability | Corporate Retail Strategy | Speed to Market | Supply Chain | Board Member | RETHINK Retail Global Expert
If you’re into sustainability, then you heard the latest news about the startup company, Renewcell. The company was lauded by the fashion industry as a game changer because of it’s new material made from recycled textiles. Well, the only game they are playing is Monopoly, because they just drew the bankruptcy card. The company that once received resounding endorsements from H&M and ZARA SA is now looking for a buyer. Renewcell made a bet that its unique material, Circulose, would be in great demand. This is due in part to the goals set by brands to use more sustainable materials. Unfortunately, goals are great on paper, it’s hard to reach them in practice. Read the rest in The Merchant Life: 🗞 https://lnkd.in/exhifYZM #retail #retailnews #themerchantlife #sustainability #materials #innovation #productcreation
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Following on from some of my thoughts on Shein… it’s useful to understand that this mass clothing company has a lot of power to ‘greenwash’ and sometimes it’s hard to undercover the hidden realities… Shein’s recycling scheme might appear really good but if it’s investigated more in depth, Shein’s clothes aren’t the best quality so they can only be recycled a few times and the high quantity you can get at such a low price entices consumers to believe items are disposable. This leads to unfeasible high demands that workers must keep up with and huge environmental impacts concerning landfill. A wide product portfolio is a huge trade-off towards becoming sustainable. The founder and tech genius of Shein, Xu Yantian, cleverly articulated Shein’s algorithms to feel almost like TikTok- infinite scrolling and an endless addiction- building up consumers emotions as they shop, by infiltrating them with promotions and discount codes; feeding consumers exactly what they want, causing excessive consumption. It would be interesting to investigate how many consumers know the damaging impacts of the brand yet still shop there…
A recent article “Inside Shein’s Plan to Recycle Deadstock Material into New Clothing” shares how Shein is planning to tackle their post-production impacts through forming a circular economy within their operations. However, addressing the root of the issue of mass clothing production-which leads to high disposal rates and extreme depletion of water-might be a more effective solution. Did you know that Shein uploads around 700-1,000 listings a day, with around 70% of their items onsite for less than 3 months? As stylish and as cheap as it may be, the cost to the planet is far more extortionate 🌍 🌱What do you think on their new strategy? 🌱Do you think a company that size can be sustainable?
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Today, SHEIN, one of the largest e-commerce platforms in the fashion industry, announced a Circularity Fund that it would capitalize with an initial €200 million focused on the UK and EU. An additional €50 million will be allocated to broader ESG efforts. For a sense of scale, the Ellen MacArthur Foundation's total expenditure for the financial year ending August 31, 2023 was £21.4 million. These funds were spent on: 1) Education - Inspiring a generation to re-think, re-design and build a positive future; 2) Business - Catalyzing business innovation for a circular economy; and 3) Insight - Creating a tipping point for a circular economy through thought leadership. How do you think SHEIN’s €200 Million Circularity Fund should be spent to advance circularity in the apparel industry? 👉 The full press release can be found here: https://lnkd.in/gDy3EeGa #circulareconomy #eCommerce #reverselogistics #SHEIN
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SHEIN launches a 200 million euro circularity fund. The takes and responses to this will be all over the place I'm sure....BS greenwashing ! Slow down instead! While I am a dubious as anyone of SHEIN s practices I will say from working on circularity for many years the commitment to funding circularity just simply isn't there. Fashion is a wasteful and inefficient, trillion dollar industry. We aren't going to fix it with a few million dollars here and a few there. So when I see big money commitments I get excited. I'm not naive to think that the money may be fools gold but something needs to jumpstart the transition from linear to circular. We need many regional hubs of collections, recycling and reprocessing. We need infrastructure and innovation asap. And frankly we need the industry that is causing the damage to be very much part of the solution. RTV ReturnToVendor can help but it will take many more with similar commitments
Today, SHEIN, one of the largest e-commerce platforms in the fashion industry, announced a Circularity Fund that it would capitalize with an initial €200 million focused on the UK and EU. An additional €50 million will be allocated to broader ESG efforts. For a sense of scale, the Ellen MacArthur Foundation's total expenditure for the financial year ending August 31, 2023 was £21.4 million. These funds were spent on: 1) Education - Inspiring a generation to re-think, re-design and build a positive future; 2) Business - Catalyzing business innovation for a circular economy; and 3) Insight - Creating a tipping point for a circular economy through thought leadership. How do you think SHEIN’s €200 Million Circularity Fund should be spent to advance circularity in the apparel industry? 👉 The full press release can be found here: https://lnkd.in/gDy3EeGa #circulareconomy #eCommerce #reverselogistics #SHEIN
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