Devoted to minimising the dangerous influence of its operations, sports activities items retailer Decathlon has introduced an undisclosed funding within the start-up Recyc’Elit by means of its Decathlon Alliances platform.
Established in 2019 in Lyon, France and spearheaded by brothers and PhD holders in science Karim and Raouf Medimagh, the corporate has engineered a way for recycling intricate polyester-based supplies by means of fibre separation. Its forthcoming goal is to scale up this groundbreaking innovation for industrial utility.
Moreover, Recyc’Elit goals to have its very first prototype prepared by 2025. “The recycling of intricate textiles, significantly polyester, and mixing it with different fibres, stands as a paramount focus for Decathlon, and Recyc’Elit emerges as a dependable collaborator in crafting recycled merchandise from textile refuse,” states the Mulliez family-owned chain in a press assertion.
Moreover, Decathlon plans to obtain recycled polyester from the start-up within the foreseeable future, aiming to “maintain its aggressive benefit whereas actively partaking within the textile recycling worth chain.” An extended-term business partnership has been unveiled, encompassing the event of capsule collections and, in broader phrases, “establishing a price chain alongside Recyc’Elit and all devoted companions desirous to partake on this initiative,” as said by Decathlon.
In October 2023, the start-up secured €3.2 million in funding from Demeter by means of the Fonds d’Amorçage Industriel Métropolitain (FAIM) Lyon—Saint Etienne and UI Investissement, together with the Banque des Territoires, representing the French authorities underneath the France 2030 initiative, Crédit Agricole Création, and a consortium of enterprise angels.
Subsequent, Decathlon identifies sustainability as one of many vital pillars in CEO Barbara Martin Coppola’s “North Star” strategic blueprint, revealed final March. This initiative encompasses a refreshed visible id, an enhanced retailer structure, and a streamlined assortment of in-house manufacturers.
As well as, with a world community of 1,700 shops, the corporate achieved whole gross sales of 15.6 billion euros in 2023, marking a modest improve of 1.15%, alongside a internet revenue of 931 million euros, reflecting a progress of 0.9%.
Karim and Raouf Medimagh, Recyc’Elit’s President and CEO, clarify: “Collectively, we will reverse the development of textile waste, changing it right into a priceless useful resource inside our round economic system. “This partnership with Decathlon completely aligns with our values. Past our evident human synergy, our firms are dedicated to making a basis to propel the textile trade into its subsequent section within the coming years.”
About Recyc’Elit
Recyc’Elit revolutionises the present linear consumption mannequin of the textile sector—produce, devour, get rid of—by shifting to a round mannequin—produce, devour, recycle. This transformation allows the continual manufacturing of virgin-quality supplies with a low carbon footprint. With the assist of devoted collaborators and a community of companions, Recyc’Elit goals to deploy its patented expertise. This expertise operates at low temperatures and atmospheric stress, permitting the selective separation of advanced polyester-based textiles and the commercialization of high-value supplies.
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