Lululemon, a leading activewear brand, has invested £21.6 million in Syntetica, a French startup that has developed a novel approach to recycling nylon. This investment is part of Syntetica's Series A funding round, which has raised a total of £30 million. Syntetica's technology allows it to recycle two types of nylon - Nylon 6 and Nylon 6,6 - that are commonly used in the fashion industry but are difficult to recycle.
The fashion industry is under increasing pressure to reduce its environmental impact, with millions of tons of clothing ending up in landfills each year. Syntetica's technology aims to address this issue by producing recycled nylon pellets that can be used to make new clothing. The startup has already partnered with several major brands, including Victoria's Secret and Etam, and plans to deliver its first batch of recycled nylon pellets to clients in the clothing supply chain early next year.
Lululemon's investment in Syntetica reflects the growing demand for sustainable materials in the fashion industry. As the UK government continues to push for greater sustainability in the fashion industry, companies like Syntetica are likely to play a key role in reducing waste and promoting recycling.