WAKEFIELD – The new acting CEO of embattled Swedish textile recycler Renewcell speaks exclusively to Tom Bithell for the latest episode of our Ecotextile Talks podcast.
Magnus Håkansson, who was appointed by the board of directors to replace Patrik Lundström, says the company needs brands to step up with orders for its Circulose pulp.
But he insists that the company, which this week launched a strategic review in a bid to secure additional funding, offered the industry its best hope for circularity.
"Renewcell is uniquely positioned to fulfil the task of circularity for the fashion industry and if the big well-known brands, actually want circularity, this is their best opportunity," Håkansson said.
He accepted that Circulose's price premium was a factor in the lack of interest from brands but argued that it was unavoidable at this stage in the company's development.
Håkansson argued that, in an industry marked by "tough, tough demands from purchasers to decrease costs", a shift in attitude was needed at the very top.
"Without that push from the top in the big brands, I don't think it will happen whether we have a small or a big premium," he said.
"Without clear guidance from the top, it will likely not happen but once they have that leadership, it will probably happen quite fast, because we are the only alternative out there."
The December edition of our Ecotextile News magazine - out next week - includes an eight page report on the challenges facing Renewcell and the implications for the scaling of next gen materials. Read an extract HERE.