eBay's Circular Fashion Fund Expands To US And Germany, Fueling Eco-Friendly Fashion Revolution

eBay Inc. EBAY disclosed the global expansion of its Circular Fashion Fund (CFF).

The fund supports fashion start-ups in scaling circular solutions, including rental and repair services.

The company stated that applications are open until November 15, 2024, and eligible tech start-ups and small businesses can apply through eBay’s website.

Since launching in the U.K. in 2022, eBay’s Circular Fashion Fund (CFF) has supported 15 businesses, including The Seam and RCYCL, in scaling circular fashion solutions.

In its third year, the fund is expanding to the U.S. and Germany, following its success in Australia.

This global growth aligns with eBay’s commitment to fostering the circular economy by supporting innovative businesses and reshaping how people buy and sell fashion.

The Circular Fashion Fund (CFF) will invest $1.2 million globally in start-ups by the end of 2025, offering over 200 hours of mentoring and networking from industry experts.

eBay Ventures will also award one finalist the title of “Circular Fashion Innovator of the Year,” along with a $300,000 investment.

Kirsty Keoghan, Global GM of Fashion at eBay, said, “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. We’re not only helping to scale circular solutions but bringing together the most knowledgeable and respected experts in the industry.”

Steven Kolb, CEO of CFDA, said, “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. We wholeheartedly support eBay’s investment in innovation and education, and their leadership in driving the circular fashion agenda while championing the innovators who are catalysts for positive change.”

This month, eBay successfully won the dismissal of a U.S. Environmental Protection Agency (EPA) lawsuit filed last year.

Investors can gain exposure to the stock via ProShares Online Retail ETF ONLN and Global X E-commerce ETF EBIZ.

Price Action: EBAY shares closed higher by 0.16% at $66.99 on Tuesday.

Image via Shutterstock

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