Sustainability
eBay Expands Circular Fashion Fund: 1.2 Mio. US$ Investment planned by the end of 2025
by Yvonne Heinen-Foudeh, Senior International Correspondent
The Circular Fashion Fund (CFF) of the e-commerce platform, which in the clothing and fashion sector markets both new and pre-loved products, is aimed at designers, start-ups, tech companies, pupils, and students who have ideas for promoting the circular economy in the fashion industry.
As part of eBay’s commitment to the circular economy, the global expansion of the CFF extends its reach to invest in businesses that bring new technology and services to the market and help people think and shop differently. eBay is transforming the buying and selling experience so that more brands, sellers, and buyers can participate in a circular fashion.
The American multinational e-commerce company based in San Jose, California, facilitates both C2C and B2B sales through its internet presence eBay already partners with the Council of Fashion Designers of America, the British Fashion Council, and the Australian Fashion Council.
Germany on-boardingMid of October eBay announced its next step - bringing its Circular Fashion Fund to Germany for the first time. Together with the Fashion Council Germany (FCG), acting out of the German capital and fashion metropolis Berlin is using the competition to promote innovations that will transform the fashion industry in a sustainable way. Australia and the USA are also taking part in this round. In Germany, 100,000 € (107.000 US$) in prize money will be awarded, divided among three winners.
Past judges have included Hugo Adams, CEO of Kelpi Sustainable Materials, and KITX Founder Kit Willow. To further amplify its impact, eBay Ventures will select one winner from the global selection of finalists to become “Circular Fashion Innovator of the Year” and receive an investment of 300,000 US$.
Fashion Council Germany joins ebays CFF community as of 2025.
Scaling-upSince it launched in the UK in 2022, the CFF has, according to his own further statements, helped 15 businesses scale their circular solutions, including The Seam, which allows businesses to offer garment care & repair services at scale to extend the life of clothes, and RCYCL, creators of the innovative at-home fashion recycling program for unwearable clothing. Now in its third year in the UK, the CFF was set to launch in the US and Germany for the first time having successfully expanded to Australia last year.
Kirsty Keoghan, Global GM of Fashion at eBay, commented to the media: "The Circular Fashion Fund is a catalyst for collaboration by combining the global scale and power of established companies like eBay with the creativity and innovation of nimble start-ups.” The objective of the Circular Fashion Fund would not only be to help scale circular solutions but also to bring together the most knowledgeable and respected experts in the industry: “Together, we’re making a positive impact on the circular economy and truly reshaping the future of fashion.
Therefore the CFF will provide a global investment of $1.2 million to start-ups in the global markets by the end of 2025.” More than 200 hours of mentoring and networking support for applicants from industry experts to come on top.
Kirsty Keoghan, Global GM of Fashion at eBay, commented to the media: "The Circular Fashion Fund is a catalyst for collaboration by combining the global scale and power of established companies like eBay with the creativity and innovation of nimble start-ups.” The objective of the Circular Fashion Fund would not only be to help scale circular solutions but also to bring together the most knowledgeable and respected experts in the industry: “Together, we’re making a positive impact on the circular economy and truly reshaping the future of fashion.
Therefore the CFF will provide a global investment of $1.2 million to start-ups in the global markets by the end of 2025.” More than 200 hours of mentoring and networking support for applicants from industry experts to come on top.