Luxury & Fashion New key milestone achieved as IFC picks location for its first Infinna™ fibre factory
Yesterday, IFC announced it had picked a location for its first commercial-scale Infinna™ fibre factory, which is leased from Stora Enso in Kemi, north-western Finland. The plant requires an investment of around EUR400m and would reach full capacity in 2025. Reaching this key milestone brings IFC closer to its objective of scaling up production its Infinna™ upcycled textile fibre in order to supply major fashion groups such as Inditex, PVH, Patagonia and H&M, which have committed to use it. As a reminder, last month Inditex announced a three-year commitment to buy 30% of IFC’s annual future production of Infinna™ over the 2024-27 period for a total value of EUR100m (see our comment).
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