Latest news with #BobAssenberg
Fashion Value Chain
26-05-2025
- Business
- Fashion Value Chain
Good Fashion Fund Invests in Sharadha Terry's Rug Unit
The Good Fashion Fund (GFF), managed by Dutch impact firm FOUNT, has made its final investment of USD 1.75 million in India's Sharadha Terry Products Pvt. Ltd. (STPPL), known globally for its MicroCotton® bath textiles. This funding will facilitate the launch of Sri Gugan Mills, a new sustainable bath and area rug manufacturing facility in Metupalayam, Tamil Nadu. The state-of-the-art unit will focus on dope-dyed polyester and cotton rugs, with upcoming products featuring recycled fibres. Equipped with advanced tufting machinery and supported by a dedicated Effluent Treatment Plant, the unit will recover ~98% of wastewater, eliminate harmful dyes, and create over 200 local jobs. STPPL, a vertically integrated firm with a legacy dating back to 1932, already powers operations via 100% renewable energy—from wind (5.1 MW) and solar (10.1 MW) sources. The rug line was previewed internationally under 'Sharadha Rugs' at Heimtextil 2025 in Frankfurt, marking STPPL's expansion from bed and bath into rugs. Vikram Krishna, MD of STPPL, said, 'This investment helps us deepen our sustainability efforts and expand our global footprint while empowering local communities.' Bob Assenberg, Fund Director of GFF, noted, 'Sharadha's legacy and innovation align perfectly with our mission to promote deeper-tier sustainability in textiles.' GFF, a USD 19 million blended capital fund, now concludes its investment cycle and plans a second fund building on its impact across India and Bangladesh. Past Indian partners include Pratibha Syntex, K.K.P Fine Linen, and Sri Kannapiran Mills.
Fashion Network
09-05-2025
- Business
- Fashion Network
Sharadha Terry receives Good Fashion Fund investment, plans new manufacturing unit
Sharadha Terry Products Private Limited has received a $1.75 million loan from the Fount-managed Good Fashion Fund to establish a new rug manufacturing unit in Metupalayam, Tamil Nadu. Known for its MicroCotton® range of premium bed and bath products, the company will use the funds to launch Sri Gugan Mills, focusing on sustainable bath and area rugs. The new facility will feature advanced tufting machinery and is expected to produce up to 4 million square metres of rugs annually, Apparel Resources India reported. The unit will primarily manufacture dope dyed cotton and polyester rugs, with additional products using recycled fibres under development. Sharadha Terry will also install a dedicated effluent treatment plant capable of recovering approximately 98% of wastewater, significantly reducing water usage and eliminating hazardous chemicals associated with conventional dyeing. The investment will position the company as one of India's few integrated, sustainable rug manufacturers with large-scale production capabilities, APN News reported. More than 200 jobs for local men and women are expected to be created at the unit, which will be staffed by workers from the Metupalayam region. Sharadha Terry's managing director Vikram Krishna said the collaboration strengthens the business' commitment to community development and environmental responsibility. Bob Assenberg, fund director at the Good Fashion Fund, said the investment reflects the fund's aim to support lower-tier textile operations and promote sustainability within the home textiles sector.
Fashion Value Chain
07-05-2025
- Business
- Fashion Value Chain
Good Fashion Fund Backs Sharadha Terry's Sustainable Rugs Unit
The Good Fashion Fund (GFF) has made its final investment—USD 1.75 million—into Sharadha Terry Products Pvt. Ltd. (STPPL) to support the setup of a sustainable bath and area rugs unit, Sri Gugan Mills, in Metupalayam, Tamil Nadu. The move marks GFF's full capital deployment and sets the stage for a follow-up fund, Good Fashion Fund 2.0. The investment will enable the installation of a state-of-the-art tufting machine, with production capacity of 4 million sq. meters annually. The unit will primarily manufacture dope dyed polyester and cotton bath rugs, with innovations in recycled fibers underway. STPPL will also install a dedicated ETP that recovers up to 98% of wastewater, eliminating harmful chemicals typically used in dyeing, and reinforcing its leadership in resource-efficient home textiles. Sharadha Terry, known globally for its MicroCotton® brand, is expanding its eco-conscious portfolio with 'Sharadha Rugs', introduced at Heimtextil 2025 in Frankfurt. Powered entirely by renewable energy—5.1 MW wind and 10.1 MW solar—the new unit will create 200+ local jobs, promoting gender equity and community development. Vikram Krishna, MD of STPPL, said: 'We are building one of India's most sustainable rug units. With GFF's backing, we are strengthening our commitment to innovation, clean energy, and social responsibility.' Bob Assenberg, Fund Director at GFF, called the partnership a showcase of best practices in sustainable textile manufacturing and noted STPPL's leadership in deeper tiers of the industry. GFF, managed by FOUNT, was launched by Fashion for Good and supported by Laudes Foundation, The Mills Fabrica, and Rabobank, investing in impact equipment across Asia. Other GFF partners include Pratibha Syntex, K.K.P Fine Linen, Sri Kannapiran Mills (India) and Progress Apparels, EPIC Group (Bangladesh). Sharadha Terry has led the home textile industry in India for over 90 years, setting benchmarks in zero liquid discharge, 100% renewable energy, and certifications like Made in Green, GRS, ZDHC, and FSC. The company continues to redefine sourcing, packaging, and workplace wellbeing, aiming for Net Zero by 2026.
