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eBay has announced the global expansion of its Circular Fashion Fund (CFF), committing $1.2 million in investments by the end of 2025. This initiative aims to support fashion startups that focus on circular business models, which emphasize sustainability and reducing waste throughout the fashion lifecycle.
Originally launched in the UK in 2022, the CFF has successfully expanded to Australia and is now set to enter the US and Germany markets.
The CFF is designed to foster innovation within the fashion sector by providing financial support and resources to emerging businesses. Key objectives include:
As part of this expansion, eBay will introduce several new initiatives:
Since its inception, the CFF has supported numerous startups in their quest for sustainability. Recipients have included companies that offer garment care services and innovative recycling programs. By expanding this initiative, eBay aims to create a significant impact on the fashion industry, encouraging collaboration between established brands and emerging innovators. Kirsty Keoghan, eBay's Global GM of Fashion, emphasized that this fund serves as a catalyst for collaboration, combining the resources of established companies with the creativity of startups. This initiative not only helps scale circular solutions but also brings together respected industry experts to make a positive impact on the circular economy.
eBay's commitment to expanding its Circular Fashion Fund represents a significant step toward fostering sustainable practices within the fashion industry. By focusing on innovation and collaboration, this initiative supports startups while promoting a broader shift towards a circular economy in fashion. As applications open for this exciting opportunity, many innovative companies are poised to make a lasting impact on how we think about sustainability in fashion.
