Inditex in 100 million euro deal to make clothes from recycled fabric
2022.05.12 15:43
FILE PHOTO: Zara’s logo is displayed on a window, at one of the company’s largest stores in the world, in Madrid, Spain, April 7, 2022. REUTERS/Juan Medina/
MADRID (Reuters) – Zara owner Inditex (BME:ITX) has signed an agreement worth more than 100 million euros ($104 million) to buy 30% of the recycled fabric to be produced by Finland’s Infinited Fiber Company for three years in a push to use more sustainable materials.
The purchase commitment will support Infinited Fiber’s plans to open its first large capacity factory in 2024, when Inditex is due to start buying the Infinna premium recycled fiber made entirely of clothing waste, Inditex said on Thursday.
“We are actively working to find solutions, and searching for new partnerships, processes and materials to achieve textile-to-textile recycling,” said Inditex Chief Sustainability Officer, Javier Losada.
Zara also launched a limited edition collection of clothes made with Infinna fiber.
Inditex said earlier this year that 47% of its garments sold in 2021 carried the Join Life label, meaning they have been produced with sustainable materials and processes.
($1 = 0.9579 euros)
