Global – Retailer H&M has thrown down the gauntlet to innovators everywhere with a bid to help ‘close the loop’ in fashion.
The inaugural Global Change Award invites early stage innovators to help change the way garments are designed and produced, shipped, bought, used or recycled.
According to Karl-Johan Persson, CEO of H&M: ‘The question for fashion is no longer ‘what is the new black?’ It is ‘what innovative ideas can close the loop?’’
Five winners, chosen by a judging panel of scientists, editors and environmentalists, will share a grant of £729,372 (€1m, $1.1m) and gain access to a ‘tailor-made innovation accelerator’ developed in partnership with Accenture Strategy and the KTH Royal Institute of Technology in Stockholm.
The Big Picture: H&M has dedicated the fourth floor of its London flagship store to sustainable fashion. Read our Seed, The Conscious Lounge, for more.