The Metzingen-based fashion group Hugo Boss AG announced an investment in the venture capital fund Collateral Good Ventures Fashion I on Wednesday.
According to the company, the fund should reach a total volume of 100 million euros, to which Hugo Boss wants to contribute around ten percent. Collateral Good will “use the financial resources over a period of five years to support various portfolio companies that are in the start-up, early growth and potential phases and develop innovative solutions in the area of sustainability,” said the clothing provider. This includes “different fields along the entire value and supply chain, such as the upcycling of raw materials, the avoidance of microfiber releases and repair and care solutions for clothing.”
Hugo Boss says it is the first company to invest in the fund. However, the fashion group said it had already “awakened the interest of well-known family offices, asset managers and institutional investors”.
CEO Daniel Grieder justified Hugo Boss’s financial commitment: “The partnership with Collateral Good perfectly complements our sustainability strategy ‘For a bold and better future’, with which we strive for a planet free of waste and pollution,” he explained in a statement. “With this new type of investment, we are actively committed to new solutions to address areas such as increasing circularity, using only nature-positive materials, eliminating microplastic pollution and achieving zero emissions.”
