Latest news with #GoodFashionFund
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.
The Hindu
17-05-2025
- Business
- The Hindu
Good Fashion Fund invests in textile units in Tamil Nadu
The Good Fashion Fund (GFF), an impact investment fund set up in 2019 and managed by the Netherlands-based FOUNT, has invested $ 1.75 million in Coimbatore-based Sharadha Terry Products. Jayanth Kashyap, investment lead of GFF, told The Hindu on Friday that so far four textile/apparel companies in India, including three in Tamil Nadu, had received almost $ 10 million dollars of long term debt investment from the GFF. The investments were primarily into environment or sustainability-related production technologies or renewable energy generation. The investment would be for a maximum of five years. The GFF raised close to $ 20 million in the first phase and was raising the second phase funds now. It would start investing about $ 60 million by the end of 2025 or early 2026 in the textile and apparel sectors in India, Bangladesh, Vietnam and Turkey, he said. 'We will be making more investments in India as for us it is an important textile producer nation,' said Mr. Kashyap. When ESG norms became mandatory for exports to the European Union, the supplier companies that had investments from the fund would benefit, he added.
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.
