Amsterdam-based The Next Closet raises €3M to transform the linear nature of fashion industry into circular

▤ Summary

The fashion industry is a significant contributor to global environmental and social issues. According to the World Economic Forum, the fashion industry produces 10 per cent of all of humanity’s carbon emissions and is the second-largest consumer of the world’s water supply. However, the industry continues to grow due to the rise of fast fashion, which relies on cheap manufacturing, frequent consumption, and short-lived garment use.

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