Insanity is doing the same thing over and over and expecting different results.
That witticism summarizes what is happening in fashion’s sustainability discussion. Brands declare ambitious targets but use more than ever polyester.
Start-ups are developing innovative materials, but are not able to scale it up due to cost constraints to make it relevant for brands.
Chemical recycling technologies proof to work in lab settings, but miss funding to scale-up to a level that has an impact.
We need new business models, not only breakthrough technologies. Start-ups focus on technology. Big companies focus on business models.
Recently I led 3 coaching sessions with fiber and dying start-ups in the US and Europe that raised questions about the transformation in how we utilise assets and open innovation.
▶️ Why fashion brands don’t act as VC's and invest in emerging recycling technologies to come up with new business models?
▶️ Why fiber producers don't act as VC's and invest in emerging fiber technologies to come up with new business models?
If you make a breakthrough innovation, you can’t keep it yourself.
Business models connect a technology’s potential with market needs and creates value.