eBay Expands its Circular Fashion Fund to Foster Global Sustainability in Fashion
eBay, a leading platform for both new and pre-loved fashion, is taking a significant step forward in its commitment to a more sustainable fashion industry. The company announced the global expansion of its Circular Fashion Fund (CFF), a program designed to support and scale the impact of innovative fashion startups. The CFF provides essential resources, including investment and mentorship, to help these businesses bring their circular solutions to life, ultimately creating a more environmentally conscious fashion landscape.
A Global Reach for Circular Innovation
Since its inception in the UK in 2022, the CFF has already made a positive impact, helping 15 businesses scale their circular solutions. The program is now entering its third year in the UK and expanding to the US and Germany for the first time, having successfully established a presence in Australia last year. This global reach allows the CFF to identify and support a wider range of startups working on diverse circular solutions.
More Than Just Funding: Empowering the Future of Fashion
The CFF is not simply a financial investment; it’s a comprehensive support system for startups. In addition to providing a global investment of $1.2 million to startups by the end of 2025, the fund offers over 200 hours of mentoring and networking support from industry experts. This invaluable guidance helps startups navigate the complexities of scaling their businesses and connecting with key stakeholders within the fashion industry.
Recognizing Leaders in Circular Fashion
To further spotlight the achievements of these innovative startups, eBay Ventures will select one global winner from the pool of finalists to be named “Circular Fashion Innovator of the Year.” This prestigious title comes with a $300,000 investment, further solidifying the winner’s position as a leader in sustainable fashion.
Partnering for Impact: A Collaborative Approach
eBay’s commitment to circular fashion is evident in its partnerships with leading organizations in the fashion world. In the US, the CFF is partnering with the Council of Fashion Designers of America (CFDA), a renowned non-profit organization that advocates for American fashion designers. The CFDA’s involvement ensures that the CFF’s reach extends to the heart of the American fashion industry, fostering a strong sense of collaboration and support for sustainable solutions.
A Future of Sustainable Style
eBay’s commitment to driving a more circular fashion industry goes beyond the CFF. The company is actively transforming the buying and selling experience to encourage greater participation in circular practices, making it easier for brands, sellers, and buyers to embrace sustainable choices. By supporting innovative startups and creating a more circular marketplace, eBay is actively shaping a future where fashion is both stylish and sustainable.
Quotes from Industry Leaders
Kirsty Keoghan, Global GM of Fashion at eBay, expressed the fund’s role in driving collaboration: “The Circular Fashion Fund is a catalyst for collaboration by combining the global scale and power of established companies like eBay with the creativity and innovation of nimble start-ups.”
Steven Kolb, CEO of the CFDA, echoed the sentiment: “eBay Circular Fashion Fund champions innovative solutions to sustainability in fashion and reflects CFDA’s passion for driving change and motivation to reduce fashion’s environmental impact.”
Vicky Fuller, co-founder of Swoperz, a previous CFF winner, highlighted the transformative impact of the fund: “Winning the Circular Fashion Fund has been transformative for Swoperz. It enabled us to partner with new organisations and helped us bring sustainable fashion education to classrooms nationwide.”
About eBay:
eBay is a global commerce leader connecting people and building communities to create economic opportunity for all. The company empowers millions of buyers and sellers in over 190 markets worldwide, providing a platform for growth and success. Founded in 1995, eBay is one of the world’s largest and most vibrant marketplaces for discovering great value and unique selection.
About the CFDA:
The Council of Fashion Designers of America (CFDA) is a non-profit trade association representing over 420 of America’s leading fashion designers. The CFDA is committed to fostering diversity, equity, and inclusion in the fashion industry through its IMPACT initiative and promoting sustainability in fashion practices.