Growth equity fund manager Circularity Capital has invested £10m in sustainable fashion firm Advanced Clothing Solutions (ACS).
It claims to be the largest circular fashion enabler in the UK, operating from a 19,000 sq m automated facility at Eurocentral, working with fashion brands and retailers through rental, subscription and resale models.
ACS chief executive Andrew Rough commented: “Circularity has a proven track record in playing a proactive role in supporting the growth of circular businesses – offering so much more than just finance, the organisation will prove pivotal in delivering our goal of helping more fashion businesses to embrace rental, subscription and resale models.”
Andrew Shannon, founding partner at Circularity Capital, added: “The average European throws away 11kg of textiles every year, and around the world a truckload of textiles is landfilled or incinerated every second.
“ACS provides the capabilities and processes to enable retailers to scale their rental, subscription and resale ambitions with ease, transforming the industry from a traditional take-make-dispose model to one of reuse and resale.
“Our investment will support the further expansion of ACS’ enabling solution to meet demand of a growing fashion rental industry.”
ACS provides a rental, subscription and resale fulfilment service, managing the entire process from its warehouse, which can store more than three million clothing items and processes in excess of six million units per year.