Zara owner Inditex invests in US polyester recycling start-up
© Reuters. FILE PHOTO: Barbie-themed merchandise is seen during the Barbie pop-up in Zara's Soho store in New York City, U.S. July 20, 2023. REUTERS/Arriana McLymore/File Photo), the world's biggest clothing retailer, has agreed to invest in and buy recycled polyester from U.S. start-up Ambercycle, according to a document seen by Reuters.
Inditex confirmed that it reached a deal with Ambercycle but did not provide details. The clothing retailer aims to have 25% of its fibers from"next-generation" materials by 2030. Some apparel brands seeking to reduce their reliance on virgin polyester have switched to recycled polyester derived from plastic bottles, but that practice has come under criticism as it has created more demand for used plastic bottles, pushing up prices.
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