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Tuesday, February 27, 2024

Good Fashion Fund invests $2.5 million in Sri Kannapiran Mills

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The Good Fashion Fund has made an investment of $2.5 million (Rs 20 crore) in Sri Kannapiran Mills Limited (SKML), a leading Indian producer of cotton yarn and sustainable denim fabrics.

Good Fashion Fund partners with Sri Kannapiran Mills Ltd – Good Fashion Fund

Kannapiran Mills will utilise the funds for replacement and expansion of three of their spinning factories namely KG Naidu Mill, Balaji Mill, and KG Fabriks.

The investment will help SKML meet manufacturing demands of its clients, help scale sustainability approach and make it competitive in the global supply chain.

Commenting on the partnership, Srihari Balakrishnan, managing director of SKML in a statement said, “We are delighted to be working with Good Fashion Fund and this investment helps us dig deeper into sustainable practices. We continue to be an example in sustainability for other denim manufacturers and this investment will help us move to the front and centre of sustainable fashion.”

Bob Assenberg, fund director of Good Fashion Fund added, “SKML has thoughtfully integrated sustainability across its operations and is committed to improving continuously. We greatly appreciate the positive cooperation and are excited to begin this new partnership.”

The Good Fashion Fund (GFF) is initiated by Fashion for Good and is a collaboration between Laudes Foundation, The Mills Fabrica, and Fount.

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