#United States #San Jose #eBay #Refiberd #Circular Fashion

eBay's Commitment to Circular Fashion

On April 9, 2025, eBay announced a significant investment of $300,000 in Refiberd, a pioneering company in sustainable fashion technology. This funding marks a pivotal point for both Refiberd and the broader fashion industry, as it underscores eBay's commitment to promoting circular fashion practices through its Circular Fashion Fund. With this investment, Refiberd has been honored as eBay's Circular Fashion Innovator of the Year.

The Vision Behind the Investment

eBay’s Circular Fashion Fund aims to financially support innovative startups that introduce sustainable practices within the fashion industry. By the end of 2025, eBay plans to invest a total of $1.2 million to assist 27 businesses, all of which are striving to create impactful circular solutions. These solutions encompass a range of initiatives from production methods to end-of-life services such as rentals and repairs.

Working in collaboration with esteemed fashion councils like the British Fashion Council (BFC), the Council of Fashion Designers of America (CFDA), and the Fashion Council Germany (FCG), eBay is committed to elevating the visibility of these innovators, thereby fostering their growth in the competitive fashion marketplace.

Refiberd: Transforming Textile Recycling

Refiberd is revolutionizing the fabric recycling industry with its cutting-edge AI technology. This innovative system can identify the composition of various fabrics precisely, enabling accurate sorting and recycling processes. By integrating its technology with existing recycling infrastructures, Refiberd addresses the longstanding challenge of textile waste sorting. This capability is crucial in promoting effective recycling practices, allowing recyclers to convert textile waste into new, usable fibers.

The investment from eBay is instrumental in helping Refiberd expand its reach and enhance its technological capabilities, making strides towards achieving true textile-to-textile recycling.

The Growing Demand for Sustainable Fashion

The push towards circular fashion is gaining momentum, particularly among younger generations. According to eBay's 2023 Recommerce Report, 66% of Gen Z consumers have expressed a growing interest in purchasing pre-loved fashion items, highlighting the shift in consumer behavior towards sustainability. This trend underscores the relevance of eBay’s Circular Fashion Fund at a crucial time for the fashion industry, which is increasingly seeking avenues to reduce its environmental footprint.

In her remarks, Sarika Bajaj, co-founder and CEO of Refiberd, stated, “Winning eBay's first Circular Fashion Innovator of the Year Award is an honor. The support from eBay Ventures will significantly boost our mission to expand technology partnership with recyclers and accelerate our impact in the industry”. Her comments reflect the real challenges that startups face and the invaluable mentorship that can come from established industry giants.

eBay: A Leader in Recommerce

eBay has been a champion of recommerce since its inception, promoting sustainable practices in fashion over the last 30 years. As a leading platform for pre-loved and second-hand items, eBay's initiatives not only bolster the circular economy but also help shift consumer habits towards more environmentally friendly options. The Circular Fashion Fund is representative of eBay’s broader strategy to invest in technologies that propel the fashion industry towards sustainability.

The winner announcement follows a competitive selection process, where Refiberd stood out among 12 finalists from the UK, US, Germany, and Australia. The overall winner was chosen by a panel of industry experts, cementing Refiberd's position at the forefront of fashion innovation.

In conclusion, eBay's investment in Refiberd is more than just a financial transaction; it is a strategic move towards a sustainable future in fashion. As circular economy models continue to evolve, the industry must embrace innovative solutions like those offered by Refiberd to drive meaningful change and foster a culture of sustainability within fashion.