Gurgaon-based management consulting firm, Wazir Advisors, has forged a strategic alliance with the Netherlands-based Good Fashion Fund (GFF) to provide critical technical advisory services in the fashion industry's realm of impact investments. This partnership signifies a concerted effort to offer guidance to GFF on multifaceted aspects of potential investments, encompassing technical assessments, sustainability considerations, and supply chain enhancements. Beyond this, the collaboration seeks to unearth fresh opportunities and cultivate synergy within the textile and apparel sector.
Varun Vaid, Business Director at Wazir Advisors, voiced his excitement about this venture, emphasizing, "We are thrilled to join forces with the Good Fashion Fund. With mounting consumer awareness and increased pressure from global stakeholders and policymakers, sustainability has taken center stage. Wazir is dedicated to contributing to the industry's advancement, and we believe this collaboration will be pivotal in motivating Indian stakeholders to adopt sustainable practices."
In the fiercely competitive landscape of textile and apparel manufacturing, incorporating sustainable technological solutions into supply chains is a vital component for manufacturers aiming to maintain their competitive edge. GFF plays a pivotal role by extending long-term USD debt directly to manufacturers, enabling them to adopt highly impactful and innovative production technologies. Their overarching mission is to establish a textile and apparel supply chain that is both restorative and regenerative. GFF provides manufacturers with technical assistance for environmental and social (E&S) improvements, grants access to a network of industry experts and professionals (including Wazir Advisors), and facilitates visibility and exposure to brands and the global fashion sector as sustainability trailblazers.
Bob Assenberg, Fund Director at GFF, shared his enthusiasm, stating, "As the sole global impact fund offering risk-tolerant debt for investments in sustainable and circular textile and apparel technologies in Asia, we are thrilled to partner with Wazir Advisors. Wazir's extensive industry network will enable us to connect with industry stakeholders, and their technical expertise will fortify our decision-making processes as we collaborate with manufacturers in their transition toward sustainability."
This partnership harbors a broader mission—to expand the horizons of opportunities for textile and apparel stakeholders eager to adopt and amplify sustainable innovations within their supply chains through impactful investments. By harnessing GFF's investment and E&S expertise in tandem with Wazir Advisors' financial and technical acumen, the positive impact of manufacturing can be markedly amplified, aligning with the Five Goods: Good Energy, Good Water, Good Materials, Good Lives, and Good Economy.
The Good Fashion Fund (GFF), initiated by Fashion for Good, is a collaborative initiative involving the Laudes Foundation, The Mills Fabrica, FOUNT, and Rabobank as a lender to the Fund. GFF extends long-term USD loans alongside technical, environmental, and social expertise to manufacturers in Asia, primarily in India and Bangladesh. With a blended capital structure and an actual fund size of USD 19 million, GFF's current partners include Pratibha Syntex, Progress Apparels, and Sri Kannapiran Mills. The Fund is managed by FOUNT, a prominent impact investment firm from the Netherlands.
