India’s PDS Multinational Fashions Limited, a design-led sourcing, manufacturing and supply chain platform catering to leading brands and retailers globally, has acquired a 50 per cent stake in Filkor Limited, a UK-based entity, with an investment of £500,000 through its subsidiary company.
Filkor has developed a product destruction process that allows for high-end fashion houses to transform their waste and surplus stocks into a granulate that is then upcycled 100 per cent into a variety of further uses, i.e., brick slips, shop fittings and other artistic and functional objects.
Notably, Filkor will form part of the Circular Fashion Impact fund within the PDS Venture Tech Investments portfolio.
Pallak Seth, Vice Chairman, PDS said, “We are thrilled to add Filkor to our portfolio which enables repurposing and upcycling and is expected to benefit the fashion industry. For us at PDS, sustainability and circularity are critical and investments like Filkor enable us to further strengthen our capabilities and have a positive impact on the ecosystem in which we operate.”
Sanjay Jain, Group CEO, further added “PDS is carefully identifying opportunities which are in sync with our overall vision, and we are also focusing on technologies and solutions for the future. Filkor fits perfectly within our portfolio from both business and environmental perspective.”
Barry Kane, MD and Inventor of the Filkor process, commented, “We are all very excited about the opportunity that has unfolded as a result of this investment with such a prestigious brand, PDS, and we are now looking forward to taking this amazing Filkor process globally across the fashion world.
It should be mentioned here that Filkor Limited has effectively developed an automated repurposing system, which by using patented collection and processing methods, produces and utilises the resultant waste to create a brand-new substrate that can be used in a wide range of global industries.