Social VC Investments
Sri Kannapiran Mills raises $2.5 M from Holland's Good Fashion Fund, others
The Netherlands-based Good Fashion Fund and the Laudes Foundation have invested USD 2.5 million in Coimbatore-based Sri Kannapiran Mills Ltd (SKML), a producer of cotton yarn and sustainable denim fabrics. The loan will support Kannapiran Mills' investment in the replacement and expansion of key sustainable equipment in two of their spinning factories (KG Naidu Mill and Balaji Mill) and a Denim fabric weaving and processing factory (KG Fabriks).The fund will enable SKML to meet the demands of its clients, and become more competitive in the global supply chain. SKML, which employs over 2,500 workers, through KG Fabriks, supplies to Tier 1 factories of brands such as TESCO, Sainsbury, Lucy & Yak, Next, ASOS, and Levi Strauss.
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