Mango invests in textile waste start-up Recovo

Spanish clothing brand, Mango, has furthered its sustainability efforts with a new investment in the textile waste start-up Recovo.

The agreement, was established as part of the Mango StartUp Studio project, under which the retailer will provide a convertible equity loan to the circular business.

Recovo will have access to an acceleration program as part of the project, where entrepreneurs may learn about Mango’s operations and get mentoring and assistance.

The re-commerce platform for textile, yarn, and production materials was established in 2021 with the goal of giving businesses a second purpose for their excess textile inventory.

According to a press release, the company provides a business strategy that emphasizes a circular future through technology and traceability.

Recovo will be trained on the buying and selling of textiles at a big fashion firm, as well as the architecture and development process of a marketplace, as part of the acceleration program.

Along with collaboration and training, the offer will also include gatherings that will assist participants to build their networks.

Mango’s goal with the accelerator is to foster innovation within the company while also identifying additional commercial prospects and growth trends.

In order to make seed capital investments that enhance the fashion sector and the customer experience, the organization exclusively chooses businesses that are in the development stage.