eBay has partnered with the British Fashion Council, the Council of Fashion Designers of America, the German Fashion Council and the Fashion Council of Australia to extend its influence around the world.
SAN JOSE, Calif. , Oct. 16, 2024 /PRNewswire/ — eBay, the leading destination for new and popular fashion and luxury goods, today announced the global expansion of its Circular Fashion Fund (CFF) . The fund aims to help fashion startups scale up circular solutions from production to end-of-life, including rental and repair services. Applications are open now until November 15, 2024, and innovative technology startups and small businesses can apply on the eBay website here.
Since its launch in the UK in 2022, CFF has helped 15 businesses scale their circular solutions. These include The Seam, which allows businesses to offer clothing care and repair services at scale to extend the life of clothing, and RCYCL, which has developed innovative services. – Home fashion recycling program for unwearable clothing. Now in its third year of operation in the UK, CFF successfully expanded to Australia last year and is set to launch in the US and Germany for the first time.
As part of eBay’s commitment to the circular economy, CFF’s global expansion expands the scope of its investments in businesses that bring new technologies and services to market and change the way people think and shop. eBay is transforming the buying and selling experience to allow more brands, sellers, and buyers to participate in a circular fashion.
CFF plans to provide $1.2 million in global investments to startups in global markets by the end of 2025, and more than 200 hours of mentoring and networking support for applicants from industry experts. Past judges have included Hugo Adams, CEO of Kelpi Sustainable Materials, and Kit Willow, founder of KITX. To further expand its impact, eBay Ventures will select one winner as the Circular Fashion Innovator of the Year from a pool of finalists selected around the world, who will receive a $300,000 investment.
Kirsty Kogan, Global GM of Fashion at eBay, commented:
“The Circular Fashion Fund is a catalyst for collaboration, combining the global scale and power of an established company like eBay with the creativity and innovation of an agile start-up. Not only do we help, we bring together the best and most knowledgeable people in the industry, working together to positively impact the circular economy and truly reimagine the future of fashion. I am.”
In the United States, the fund will be first established in 2024 in partnership with the Council of Fashion Designers of America (CFDA). The winner in the U.S. market will receive a $50,000 cash prize, and two runners-up will receive cash prizes. $25,000 each. All three finalists will be provided with bespoke mentoring sessions, educational workshops and networking opportunities.
Winners are selected by a panel of industry experts from the fields of fashion, academia and sustainability. This panel includes:
Brittany Sierra, Sustainable Fashion Forum Founder and CEO Henri Janimazi, eBay Global Head of Ventures and Strategic Partnerships Jack Agbobly, Agbobly Designer and Founder John Bartlett , Parsons Director of Fashion Executive & Professional Studies Kate Danielsen, eBay Fashion Category Manager Kirsty Kogan, Global GM of Fashion at eBay, Margherita Maccapani Missoni, Maccapani Founder and Designer Rachel Rachel Cernansky, Vogue Business Sustainability Editor Shelly Hsu, Shelly Hsu Design Founder Stephen Kolb, CFDA CEO
Previous winners include Swoperz, a child-run clothing exchange service, and Dempstah, a design practice that works with a network of international and local textile mills to recycle Australian textile waste into yarn. Includes:
Words from CFDA CEO Stephen Kolb:
“The eBay Circular Fashion Fund champions innovative solutions to sustainability in fashion and reflects CFDA’s passion for driving change and motivating people to reduce fashion’s impact on the environment. We wholeheartedly support eBay’s investment in innovation and education, and its leadership in advancing the circular fashion agenda while championing innovators and people who are catalysts for positive change.”
Vicky Fuller, co-founder of Swoperz and UK 2023 Circular Fashion Fund winner, commented:
“Winning the Circular Fashion Fund was transformative for Swoperz, allowing us to partner with new organizations to bring sustainable fashion education to classrooms across the country and host exchange shops in 500 schools. Our book, The Swoperz Fashion Show, has been read 653 times and sparks important conversations about conscious consumption to make sustainable fashion more sustainable for children. We are grateful to CFF for elevating our mission towards a possible future of fashion.”
About eBay
eBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects people, builds communities and creates economic opportunity for everyone. Our technology empowers millions of buyers and sellers in more than 190 markets around the world, creating opportunities for everyone to grow and prosper. Founded in 1995 in San Jose, California, eBay is one of the world’s largest and most active marketplaces for finding great value and unique selections. In 2023, eBay had a total merchandise volume of over $73 billion. To learn more about the company and its global portfolio of online brands, please visit www.ebayinc.com.
About CFDA:
Founded in 1962, the Council of Fashion Designers of America (CFDA) is a nonprofit trade association with a membership of more than 420 of America’s leading women’s, men’s, jewelry, and accessories designers. Pillars include diversity, equity, inclusion and sustainability in fashion through the IMPACT initiative. The organization provides timely and relevant thought leadership and business development support to its members. Emerging designers and students are supported through professional development programs and numerous grant and scholarship opportunities. In addition to hosting the annual CFDA Fashion Awards, the organization owns the fashion calendar and is the official organizer of New York Fashion Week’s schedule. CFDA Foundation, Inc. is an independent nonprofit organization organized to raise funds for philanthropy and mobilize members to participate in civic activities.
About Swaperz:
Swoperz was founded by my parents. As parents, we know how expensive children’s clothes are, how quickly they grow, and how often styles change. We are also conscious of the global issue of dressing children sustainably. We want our children to be in control of their style and always have a conscience. So we’ve created a safe, adult-verified environment where kids can swap clothes without worrying about the planet or their online safety.
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Source eBay Inc.
