Kering named founding partner of Plug and Play-Fashion for Good accelerator
Luxury goods group Kering has announced in a press release its role as founding partner of the Plug and Play-Fashion for Good accelerator initiative. The objective of the Amsterdam-based accelerator is to "find, invest in and accelerate star-ups that fast-track the transition to a sustainable apparel industry," wrote Kering in the press release.
After launching an innovation platform last year with French department store group Galeries Lafayette, Californian tech investment platform Plug and Play has strengthened its presence in the fashion and luxury world, this time joining forces with a major player such as Kering.
The new accelerator is also partnered by the Fashion for Good initiative, created with the initial support of the C&A Foundation to encourage the transformation of fashion into a sustainable business via new technology. The idea is to open up Plug and Play - Fashion for Good to other luxury industry players.
The accelerator kicked off officially on Thursday in Amsterdam, with the inauguration of the Fashion for Good centre. As a first step, some twenty early-stage innovators will present their projects and technologies to the Plug and Play - Fashion for Good partners, who will then induce ten of them into the accelerator. The ten names will be revealed on 10th April, and the start-ups selected will then participate in a three-month mentoring programme.
Together with the accelerator partners, they will "take a 360° approach to supply chain innovation, by concentrating on three priority areas: raw material sourcing, fabric and garment production (dyeing, finishing, sewing), and products’ end-of-use (recycling, circular economies)," stated Kering in the press release.
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