Next generation textile innovators – such as Sweden’s Renewcell – which are trying to persuade the market to pay a premium for more sustainable products are likely to continue to face firm resistance on price, according to one senior industry figure.
Renewcell, which opened the world’s first scale textile-to-textile recycling plant a year ago, recently launched a strategic review in a bid to secure additional funding as it continues to struggle to attract sizeable orders, although it has recently welcomed commitments from Faherty Brand, TOTEME, La Maison Simons and Reformation.
“Some corporates that support new tech can go up to maybe a 20–25% premium for product under good market conditions, but to be honest, I would stand on a stage in front of all these innovators and say they should really aim for cost parity as soon as possible,” said Collin Barletta, director of mergers and acquisitions / corporate ventures at Adidas.
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