Recover, a leading material sciences firm and supplier of sustainable, premium recycled cotton fiber and cotton fiber blends, is expanding to satisfy the growing demand from the global fashion industry, thanks to a strategic agreement with STORY3 Capital. Recover’s efforts to improve the fashion industry by addressing one of the world’s most pressing environmental concerns will be accelerated by this strategic alliance. STORY3 Capital contributes considerable capital, resources, and best-in-class operators to help Recover accomplish its growth goals.
The fashion sector has a tremendous negative environmental impact, falling behind on its climate action promises and Sustainable Development Goals (SDGs). Cotton is one of the most environmentally destructive crops, requiring much water, pesticides, and land. One t-shirt, for example, uses 2,700 liters of water, which is the amount of water consumed by the average human in three years.
Recover recycles pre-and post-consumer cotton waste, eliminating the requirement for cotton cultivation, decreasing the need for colours using its ColorBlend technology, and lowering textile landfill trash. Recover offers cost-effective, high-performance fibers for rotor and ring spinning applications thanks to its proprietary process, which combines art and science.
“Recover is uniquely positioned to be the global sustainability leader in cotton recycling by acting as an agent of change within the industry, and quickly becoming the gold standard in closing the loop on fashion,” said Peter Comisar , Founder and CEO of STORY3 Capital and former Partner at Goldman Sachs & Co. “We quickly identified the potential to affect the pent-up demand for recycled cotton by increasing production and collaborating with the industry to develop and migrate to Recover Fibers,” said Ben Malka, Operating Partner at STORY3 Capital and Executive Chairman of Recover.
Recover is part of a fourth-generation family-owned textile recycling enterprise with a 70-year track record. Recover has specialized in manufacturing premium recovered cotton fibre from textile waste utilizing unique technologies and unique mechanical recycling machines under the direction of the Ferre family. Supply chain partners spin the wool into yarn, converted into finished clothing garments and home textiles. During its long history, Recover has supplied recycled cotton and cotton blend fibers to prestigious companies such as Wrangler, H&M Group, Tommy Hilfiger, G-Star, The Northface, Billabong, and Bonobo, to name a few.
“For decades, my family has been working on perfecting the Recover process, which is poised to be the fashion industry’s most valuable resource in reaching its sustainability goals,” said Alfredo Ferre, Recover’s CEO. “We’re thrilled to be able to offer potential partners the highest-quality, lowest-impact fiber on the market today, and we’re excited to expand our sustainability footprint thanks to our partnership with STORY3 Capital.”
STORY3 Capital is a premier alternative investment manager with extensive experience in the consumer space. STORY3 uses a flexible investment strategy to create new investment solutions across market cycles by investing across the consumer value chain. A focus on firms at the convergence of consumer, commerce, and content is central to STORY3’s investing lens, as it thinks its capital, skillset, and relationships can significantly impact value creation and investment returns.