The Danish clothing group Bestseller presented a new “strategic partnership” with the German recycling start-up Matterr on Wednesday. The group of companies, which includes brands such as Vero Moda, only and Jack & Jones, invested in the company through their investment company Invest FWD, which specializes in chemical procedures for recycling polyester waste. Matterr had previously secured funding of 30 million euros from the EU Structure Fund EFRE and JTF.
With this support and the Bestseller investment, Matterr is now able to build a first factory to scale his recycling process, according to a statement. The construction of the facility should begin next year. After completion, it should be able to convert 10,000 tons of polyester -containing waste into new raw materials every year.
Dorte Rye Olsen, who is responsible for the bestsellers’ sustainability projects as Head of Sustainability, justified the investment: “Matterr is a young company with an interesting solution that is to be implemented on a large scale to use the entire fashion industry,” she said in a statement. “We believe in the scalability of your technology and the commercial potential of the company.”
The bestseller group continued the promotion of innovative companies with the latest partnership. According to its own statements, the group has invested a total of 240 million Danish crowns (32 million euros) in aspiring companies that have developed new sustainable material procedures over the past few years. “An important criterion for the investments is that they not only meet the needs of bestsellers, but also help to advance the entire fashion industry,” emphasized the group.
Melanie Hackler, the Matterr CEO, is of great hope of working with the Danish textile giant. “To achieve our ambitious goals, it is essential to have the right partners at our side,” she emphasized. “With bestsellers, we not only share the same way of thinking and values, but also the conviction that real changes caused by pragmatic cooperation. Together we build a partnership that is geared towards the business models of the future.”