The Good Fashion Fund, established by Laudes Foundation and Fashion for Good, aims to encourage the use of safe and recyclable materials, clean and efficient energy, reduction of water use and waste, and the creation of better working conditions and fair jobs for workers. The MoU was signed during an interactive session organised by the ITF, with 50 textile entrepreneurs participating. The initiative will help manufacturers explore new sustainability and cost initiatives and get meaningful inputs on best practices in the industry.

The Good Fashion Fund and the Indian Textile Federation (ITF) have signed a Memorandum of Understanding (MoU) to promote sustainability and innovation among the members of the ITF.

The Good Fashion Fund, which is a first-of-its-kind initiative by Laudes Foundation and Fashion for Good, was established to create systemic change in the textile and apparel industry by encouraging the mainstream uptake of impactful and disruptive production technologies.

The fund aims to encourage the use of safe and recyclable materials, clean and efficient energy, reduction of water use and waste, and the creation of better working conditions and fair jobs for workers.

During an interactive session organised by the ITF in which 50 textile entrepreneurs participated, the MoU was signed. Prabhu Dhamodharan, Convenor ITF, stated in a press release that an initiative like this would help manufacturers explore new sustainability and cost initiatives, as well as get meaningful inputs through a partnership with the Good Fashion Fund on best practices in the industry.

Bob Assenberg, Fund Director of the Good Fashion Fund, addressed the session and explained the opportunities for investing in sustainability. Srihari Balakrishnan, Managing Director of Sri Kannapiran Mills, shared his experience of making sustainable products with a long-term vision and a clear focus on branding and marketing.

This collaboration between the Good Fashion Fund and the ITF is a significant step towards promoting sustainability and innovation in the textile and apparel industry. By encouraging the use of safe and recyclable materials, clean and efficient energy, and reduction of water use and waste, the industry can become more sustainable and environmentally friendly. Additionally, the creation of better working conditions and fair jobs for workers is a crucial aspect of this initiative.

The Good Fashion Fund and the ITF are committed to working together to create a more sustainable and innovative textile and apparel industry. This partnership will undoubtedly lead to positive changes in the industry and pave the way for a more sustainable future.