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.
