The “Exchanges” Unite to Drive Fashion Sustainability
Sweden, April 26, 2021. Material Exchange Ventures AB, a Stockholm based startup and provider of Material Exchange has joined Textile Exchange, a global non-profit member organization committed to reducing the textiles industry’s impact on the environment.
Material Exchange works collectively with fashion brands, retailers and suppliers to digitize the material sourcing process, reduce the reliance on physical material samples and subsequently reduce the carbon impact of the industry. Textile Exchange develops, manages, and promotes a suite of leading industry standards, as well as collects and publishes critical industry data and insights that enable brands and retailers to measure, manage, and track their use of preferred fiber and materials. Together, Material Exchange and Textile Exchange jointly increase sustainable sourcing in footwear and apparel through digital transformation, and work to positively impact the environment through accelerating the use of preferred fibers across the international textile industry.
Material Exchange is a renowned advocate of sustainable sourcing and champions the digitalization of supply chains in order to reduce the industry’s increasing impact on our climate; accounting for over 10% of all global greenhouse emission. Sustainability is now an increasing pressure forcing us all – for the greater good – to reevaluate how we operate and transform traditional processes to create a sustainable industry for the future. Material Exchange plans to work together with the Textile Exchange wider network to harmonize the sourcing process and reduce the overall impact of supply chains.
“Membership in the Textile Exchange unites Material Exchange with a global platform of industry peers driving transformation through innovative and preferred fibers. Our membership signals our determination to increase sustainable sourcing in the footwear and apparel industries and we look forward to working closely with Textile Exchange to build community and collectively drive transformation in materials, standards and responsible supply networks.” Kelly Burton, Chief Sustainability Officer, Material Exchange.
ABOUT MATERIAL EXCHANGE
Founded in Stockholm, Sweden, Material Exchange is a secure B2B platform that digitizes the material sourcing process and simplifies complex relationships between footwear and apparel brands and material suppliers. The platform is a comprehensive database containing approximately 40,000 digital materials from some of the largest material suppliers in the world including, Clarino, Tiong Liong Corp, Kuraray and over 350 more.
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