♻️ eBay’s $1.2M Sustainability Push
eBay is expanding its Circular Fashion Fund with a $1.2M investment. Startups and small businesses can apply for grants to develop services like apparel rental and repair. The program is part of eBay's strategy to promote sustainable shopping habits. Applications are open now and close on Nov. 15, 2024. The winners will be announced by the end of 2025.
🌍 Global Reach, Local Impact
Originally launched in the U.K. in 2022, the Circular Fashion Fund has supported 15 businesses. It expanded to Australia in 2023, and now, in 2024, eBay is bringing the initiative to the U.S. and Germany. In the U.S., eBay is partnering with the Council of Fashion Designers of America (CFDA), where the top recipient will win $50K. Other fashion councils in the U.K., Germany, and Australia are also involved in the initiative.
💼 Supporting Innovators
eBay’s Circular Fashion Fund not only offers financial help but also over 200 hours of mentorship and networking with industry experts. The initiative highlights the importance of circularity in fashion and encourages new business models. One standout applicant will win the title "Circular Fashion Innovator of the Year" and receive $300K.
🛍️ Pre-Loved Fashion Gaining Ground
eBay is committed to growing the secondhand fashion market. In September 2024, they launched Pre-Loved Fashion Week in London, featuring a shoppable runway of used designer items. This is just one example of how eBay is changing how consumers think about shopping sustainably. According to Steven Kolb, CEO of CFDA, “eBay is championing innovators and driving the circular fashion agenda.”
Would you shop more from circular fashion businesses?
