What: eBay has expanded its Circular Fashion Fund with fresh investment for start-ups.

Why it is important: It highlights eBay's commitment to promoting sustainability in the fashion industry by supporting innovative start-ups through its Circular Fashion Fund.

eBay has expanded its Circular Fashion Fund (CFF), committing USD 1.2 million by 2025 to support fashion start-ups that promote sustainable practices, such as recycling, rental, and repair services. The initiative, now in its third year in the UK and second year in Australia, will also debut in the U.S. and Germany. The fund aims to help businesses scale their circular fashion solutions and adopt new technologies. Applications for the CFF are open until November 15, 2024, and eBay plans to distribute the funds to successful start-ups across all participating regions.

In addition to financial support, eBay will provide over 200 hours of mentoring and networking opportunities with industry experts. In the UK, the top winner will receive GBP 50,000, while two runners-up will get GBP 25,000 each. Judges for the competition include prominent figures like Caroline Rush of the British Fashion Council and Jemma Tadd, head of UK fashion at eBay. eBay’s global fashion manager, Kirsty Keoghan, emphasized the fund’s role in fostering collaboration between established companies and innovative start-ups to promote a more sustainable fashion industry.

eBay has expanded its Circular Fashion Fund with fresh investment for start-ups