German fashion giant Hugo Boss has taken a major step towards sustainability by becoming the first company to invest in the Collateral Good Ventures Fashion I fund. This venture capital fund, based in Luxembourg, aims to accelerate sustainability in the fashion industry and has a target of €100 million, with Hugo Boss contributing 10% of that amount. The fund has already garnered interest from various family offices, asset managers, and institutional investors.
Operating under the name Collateral Good Ventures Fashion I SCSp RAIF, the fund will utilize the investment from Hugo Boss over a five-year period to support start-up, early growth, and potential stage companies that are developing innovative solutions and technologies in the sustainability field. These solutions can encompass areas such as upcycling raw materials, preventing microfiber releases, and promoting repair and care solutions throughout the value and supply chain.
Daniel Grieder, the CEO of Hugo Boss, emphasized the company’s dedication to sustainability, stating that their growth trajectory is defined by their commitment to be sustainable. He also expressed how the investment in Collateral Good Ventures Fashion I aligns perfectly with their sustainability strategy, which seeks to create a planet free of waste and pollution. Grieder highlighted key areas of focus for the company, including increasing circularity, using nature-positive materials, eliminating microplastic pollution, and achieving zero emissions.
By investing in this venture capital fund focused on sustainability, Hugo Boss not only showcases its commitment to a more sustainable future but also actively participates in finding innovative solutions to urgent environmental challenges in the fashion industry. This investment not only benefits the company but also has the potential to drive positive change across the entire fashion sector.
Useful links:
1. Collateral Good Ventures Website
2. Hugo Boss Official Website
