Swedish fast fashion chain H&M has invested a lot of effort as well as
money in initiatives. One example includes
the retailer’s ‘Close the Loop’ campaign, which invites consumers to bring
garments that are no longer used to the store in exchange for a discount.
The latest initiative is the : a global competition open
to anyone who has an idea on how to make fashion more sustainable. On
February 1st, H&M announced the five winning ideas of the competition,
including creating new textile from citrus peel and growing textile under
water.
The jury, which consisted of eight people from the fashion industry as
well as academics, chose five ideas which they believe are most likely to
bring about a change in the fashion industry. From February 1 until
February 7, consumers can cast their vote to determine how much money
should be awarded to each idea. In total, the non profit-organization H&M
Conscious Foundation will invest 1 million euros in further developing
these ideas.
One of the winning ideas centres around the development of a polyester
digester: a microbe which eats the material while simultaneously
transforming it onto new polyester. Another idea which made it to the top
5, revolves around using algae to create a new type of raw material which
can then be used for the production of renewable textile. Other ideas
included the usage of citrus by-products for the creation of yarn, making
waste-cotton new with a specially developed solvent and setting up an
online marketplace where manufacturers can sell textile spill to
designers.
”The response of the first Global Change Award is overwhelming,” said
H&M CEO Karl-Johan Persson. In addition to being the CEO of the company his
father founded in 1947, the entrepreneur is a board member of the H&M
Conscious Foundation. “Over 2,700 innovators from 112 countries shared
their ideas to help close the loop for fashion. The winning innovations are
important contributions in the journey towards a circular fashion industry.
Now, we invite the public to use their voice and influence how much funding
each idea should get.” The idea which receives the majority of votes will
be rewarded with 300,000 euros, the runner-up is set to receive 250,000 and
for the other ideas there will be a 150,000 prize. The result of the voting
is set to be announced during a ceremony held in Stockholm on February 10.
For all the winning ideas, H&M offers ‘The Innovation Accelerator’: a
one year programme which supports the participants in developing their
innovations. The accelerator was founded by H&M in collaboration with
Accenture and Stockholm’s KTH Royal Institute of Technology.
”The Global Change Award rewards truly out-of-the-box thinking in
utilizing advanced technological approaches to make the fashion industry
more sustainable – for example, creating less environmental waste and using
less energy – while making fashion products that are even more appealing,”
stated Ellis Rubinstein, CEO of The New York Academy of Sciences and member
of the competition’s jury. “In this sense, the five winning innovations all
have the potential to be truly game-changing.”
Read further: