With a US$1.2m investment, eBay’s Circular Fashion Fund aims to increase the adoption of remanufacturing and sustainable practices.
eBay’s Circular Fashion Fund (CFF) is set to grow with a US$1.2m investment by 2025 across the UK, US, Germany, and Australia to promote sustainable fashion and address the 92 million tonnes of clothing sent to landfills annually.
Established in 2022, the fund aims to advance circular fashion solutions, such as repair services and recycling programs, to minimise the fashion industry’s environmental footprint.
The expansion will provide essential support for start-ups, promoting sustainable business practices and models in major markets.
By backing start-ups focused on rental, repair, and recycling services, the CFF helps eBay lower emissions from clothing production and landfill disposal.
Local repair services reduce long-distance shipping needs and prolong garment lifecycles through innovations like at-home repair kits and recycling initiatives.
The CFF aligns with eBay’s recent debut of its first-ever secondhand runway show at this year’s New York Fashion Week in partnership with the Council of Fashion Designers of America. Showcasing pre-loved pieces from manufacturers Ralph Lauren and Simone Rocha, the show celebrated circularity and sought to highlight the value of remanufacturing and second hand luxury fashion.
New funding and global partnerships
In its third year in the UK, the Circular Fashion Fund is now set to debut in the US and Germany, after successfully expanding to Australia last year.
This funding round will allocate a total of US$1.2m to start-ups developing circular fashion solutions, along with over 200 hours of mentoring and networking support from industry professionals.
A new feature for the 2025 cohort is the introduction of eBay Ventures, the company’s venture capital arm. One start-up will be named ‘Circular Fashion Innovator of the Year’ and receive an additional US$300,000 investment to scale their circular solution.
“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,” says Kirsty Keoghan, eBay’s Global GM of Fashion.
“We’re not only helping to scale circular solutions but also bringing together the most knowledgeable and respected experts in the industry.
“Together, we’re making a positive impact on the circular economy and truly reshaping the future of fashion.”
Industry support and success stories
The CFF collaborates with prominent fashion councils, such as the British Fashion Council (BFC), the Council of Fashion Designers of America, Fashion Council Germany, and the Australian Fashion Council.
These partnerships enhance the fund’s impact by backing start-ups that are driving innovation in circular fashion.
“Building on the success of the past two years, we remain focused on boosting excellence and innovation in the British fashion community,” adds Caroline Rush, CEO of the British Fashion Council.
“Small businesses are integral to building an ecosystem that can create specialised solutions and we want to help them scale.
“The Circular Fashion Fund has been a game-changer and we are thrilled to support the new ideas and entrepreneurial spirit from this next cohort. Together, we’re making the fashion industry more sustainable, one step at a time.”
One of the UK’s previous winners, Swoperz, epitomises the value and power of the fund. Swoperz, a clothing swap service designed for children, has scaled rapidly since receiving funding and mentorship through the CFF.
The business has hosted swap shops at 500 schools and distributed their book, The Swoperz Fashion Show, to children across the UK.
“Winning the Circular Fashion Fund has been transformative for Swoperz,” asserts Co-Founder Vicky Fuller. “It enabled us to partner with new organisations and helped us bring sustainable fashion education to classrooms nationwide and host swap shops at 500 schools.
“Our book, The Swoperz Fashion Show, has been read 653 times, sparking vital conversations about conscious consumption so we can make sustainable fashion a reality for children. We’re grateful to the CFF for amplifying our mission as we work towards a more sustainable fashion future.”
Looking forward
With applications open until 15th November 2024, eBay’s Circular Fashion Fund provides a platform for fashion start-ups to innovate and grow, contributing to a more sustainable future for the industry.
Combining financial investment, mentoring, and strategic partnerships, the initiative aims to maximise the potential of these emerging businesses and drive meaningful change in how fashion is produced, worn, and discarded.
Through the CFF, eBay champions circular manufacturing solutions that help reduce emissions, cut waste, and make a tangible difference in combating climate change.
