Good Fashion Fund signs contract with first project
The Good Fashion Fund, the Fashion for Good initiated fund to drive sustainable manufacturing practices, has signed its first deal with Indian manufacturer Pratibha Syntex Limited. The 4.5 million US dollar, long-term loan, will support Pratibha Syntex’s planned capital expenditures for the replacement of machinery and expansion of sustainable equipment in their spinning, processing and garmenting divisions. Pratibha Syntex supplies textiles and garments to popular brands including C&A, H&M, Patagonia and Zara.
Pratibha Syntex Limited is a sustainably-oriented, vertically integrated “farm-to-fashion” textile and garment producer founded in 1997 in Pithampur, India. The company employs over 6,000 persons, connects 35,000 farmers and apparel brands from over 20 countries, for whom they produce over 40 million garments annually. Apart from manufacturing cotton, fibres, fabrics and apparel, Pratibha Syntex Limited is also engaged in social initiatives to generate employment for women in rural communities.
Press release Good Fashion Fund signs contract with first project
