Zara owner Inditex (ITX.MC), the world’s biggest clothing retailer, has agreed to buy recycled polyester from U.S. start-up Ambercycle, according to a document seen by Reuters.
As fast-fashion retailers face pressure to reduce waste and use recycled fabrics, Inditex will invest 70 million euros ($74.19 million) in buying Ambercycle’s recycled polyester made from textile waste. Polyester, a product of the petroleum industry, is widely used in sportswear as the fabric is quick-drying and durable.
Under the deal, Inditex will buy a “significant” portion of Ambercycle’s production of recycled polyester, which is sold under the brand cycora, over three years, according to the document.
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