How Infinited Fiber Raised $43m Amidst Textile Recycling Uncertainty [Forbes]
FAST RETAILING UNSP/ADR (FRCOY)
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Source: Forbes
bankrupt, its peer, Infinited Fiber Company (IFC), closed a two-part financing round totalling 40 million euros ($43.7m). Significant investments were raised from Inditex, the parent company of Zara, and TTY Management, an asset management company privately owned by Tadashi Yanai, Chairman, President and CEO of Fast Retailing, whose brands include Uniqlo. These two investors join H&M, becoming the three largest shareholders of IFC. In the wake of Renewcell's bankruptcy announcement, some (including company Chairman Michael Berg) concluded that fashion brands weren't ready to make the leap to adopting ‘circular textiles', but IFC's financing round hinged on brands purchasing in advance all of the recycled fiber capacity from the next phase of scaling. So, how do Renewcell's and IFC's technologies and business models differ? How might IFC avoid the commercial challenges faced by Renewcell (who also count H&M as an investor)? Infinna fabric. Debt financing versus IPO During a vid
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