The textile industry company announced on Monday (November 21, 2022) a joint venture with PurFi Global to reduce the amount of textile waste going to landfill.
PurFi Global is a sustainable technology company specializing in the regeneration of industrial textile waste into quality virgin products using 96% less water and 90% less energy than producing virgin fibers.
The company said significant transformations in the fashion industry have led to a dramatic increase in fast fashion. The textile industry generates over 64 billion pounds of post-industrial textile waste and 284 billion pounds of post-consumer waste each year. Yet only 12% of textiles worldwide are recycled and about 1% are recycled.
PurFi and Arvind will set up the first of a series of planned fiber rejuvenation facilities near one of Arvind’s manufacturing facilities in India. This facility will process textile waste such as white cotton, colored cotton, denim and synthetic materials into virgin fibers for reuse from two lines, where each line will have a capacity of 5,500 tons per year with plans for expansion over the next five years.
The investment for these two lines is envisaged at Rs 200-250 crore. Expansion plans include an additional production line that removes elastomers from fabrics using another of PurFi’s proprietary technologies.
The joint venture is expected to begin construction in the fourth quarter of 2022 and full production is expected to begin in the fourth quarter of 2023, the company said.
Ashish Kumar, President and CEO of Arvind, said, “Partnering with PurFi will allow Arvind to extend our decades-long commitment to extending sustainable practices to all aspects of our business. For more than 25 years, PurFi has been developing and investing in cutting-edge technology to rejuvenate industrial textile waste. Unlike the traditional “one-and-done” recycling approach, PurFi’s technology can rejuvenate waste into virgin fibers 17 times, and it can be done at scale. By working together, we believe we can lead the textile and fashion industries into a new era of sustainable practices, transforming textile manufacturing into a true closed-loop cycle.
Joy Nunn, Founder and Managing Director of PurFi Global, said, “Arvind immediately saw the value and promise of our technology and will increase their production efficiency with rejuvenated fabric. In addition, our unique PurFi rejuvenated fiber specific tracers provide customers with a clear view of the origin of the fibers they are sourcing. This genuine product identifier is invaluable to manufacturers like Arvind, who are committed to transparency in their sustainability practices and understand that rejuvenated materials have gone from “nice to have” to “must have.” in their product offerings. We look forward to partnering with Arvind as we continue to innovate to create a more sustainable planet and contribute to the circular economy.
Arvind is one of the largest integrated branded textile and apparel players in India. The company’s consolidated net profit soared by 79.7% to Rs 125.02 crore on a 2.9% increase in net sales to Rs 2,169.81 crore in Q2 FY23 compared to Q2 FY22.
Arvind shares fell 0.11% to Rs 91.30 on BSE.
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