H&M Foundation
The non-profit H&M Foundation has launched a virtual fashion collection to highlight the work of ten innovative sustainable start-ups that are promoting more sustainable fashion. The “Billion Dollar Collection” was made with past winners of the foundation’s Global Change Award.
Each start-up is represented as a garment in a virtual fashion collection, with a price tag expressing the anticipated assistance each firm estimates it will require to expand its disruptive technologies.
Global manager of the H&M Foundation, Diana Amini, said Together, they can create a transformation in the fashion industry where sustainability and innovation are applied as a default practice. Amini stressed the need for fashion companies and suppliers to help startups. Funding and help to create scalable technological solutions is their biggest hurdle to realizing their ideas.
Mackevision, computer-generated imagery (CGI) business that is part of Accenture Interactive, built a digital avatar for the project. The colorful designs come in a variety of hues, primarily pastels, and include interactive price tags that represent how much money a business believes it will require to expand its idea. Accenture also assisted the entrepreneurs in incorporating the 2030 United Nations Sustainable Development Goals into the collection.
Senior managing director and global retail sector group head at Accenture, Jill Standish, said the Billion Dollar Collection provides a unique opportunity to assist the fashion sector to redefine itself via sustainable ideas that may fuel future development and deliver positive change.
Chairman of H&M Group and member of the H&M Foundation board of directors, Karl-Johan Persson, said if fashion wants to become a more sustainable sector, it is critical to foster sustainable innovation. This untapped possibility is highlighted in the Billion Dollar Collection.
In 2015, the H&M Foundation established the Global Change Award to assist businesses that are aiming to assist the fashion sector to adopt a more environmentally friendly approach. The Billion Dollar Collection refers to the expected expenses of changing the industry.
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