The Good Fashion Fund, initiated by Amsterdam-based Fashion for Good and Laudes Foundation to drive sustainable manufacturing practices, announced that it has completed the first on-site monitoring of India-based manufacturer Pratibha Syntex Limited.
The Amsterdam foundation had signed its first deal with the Indian manufacturer in 2020 for $4.5M (approximately €4.2M) as a long-term loan. The final disbursement of the loan was made in June of this year.
As part of the visit, Good Fashion Fund, supported by its advisors Sphera, Fairwear Foundation, Global CAD, and Adelphi, established progress since the investment.
How did the fund get utilised?
The $4.5M investment was committed to Pratibha Syntex to replace machinery in the spinning, processing, and garmenting divisions, and provide new equipment to expand their activities and facilities.