Welcome to the JV Network: First event roundup | & what's next for sustainable fashion ππ
The JV Network is live! Subscribe to our newsletter to meet inspiring female entrepreneurs & women in finance, learn more about initiatives to improve inclusivity in VC and hear about our events.
Weβre live! π
Thanks to all the lovely ladies who joined us for our soft-launch brunch on May 22nd. It was great to see so many incredible women come together in one place to share stories, contacts and guac.
The JV Network aims to connect female investors and entrepreneurs in a casual but constructive setting to meet, support and invest behind one another. Our inaugural event brought together entrepreneurs from a range of industries from fashion to healthcare to hospitality, and investors spanningΒ an equally diverse spectrum from crowd-funding to large-cap Private Equity. Following initial member feedback, we'll look to host a series of small- and large-group events to continue nurturing tailored, helpful networks for our members, whilst encouraging more mingling and knowledge sharing. Watch this space!
Meet these female entrepreneurs
Jessica Kruger of LUXTRA. π
A serial ethical entrepreneur, Jessica founded LUXTRA in 2018, an ethically conscious luxury brand focused on cruelty-free and sustainable fashion items. Some of Jessica's previous ventures include Ethos, a plant-based, pay-by-weight, restaurant in Oxford Circus.
Now a certified B corporation, LUXTRA houses an impressive collection of fashion accessories for both men and women, ranging from handbags to travel pouches to face masks. Each item is made with the most innovative cruelty-free material which have ecological or plant-based characteristics. Think luxury leather handbags made in Italy from apple skin.
Elisha Rai of Folc. πΎ
Folc is founded by couple Elisha Rai and Tom Cannon who have a passion for wine and in particular the amazing quality of wine that is produced on English soil. Having come up with the idea to champion English rosΓ© four years ago, the couple flung themselves into the wine industry in the midst of a world pandemic last year. Dedicated to creating a wine for the modern mindset, Folc brings issues such as sustainability and inclusion to the fore to match the productβs unrivalled quality.Β
Folc has now become Englandβs highest ranking still rosΓ©, having been awarded one of the only two medals for still English rosΓ© at the International Wine & Spirits Competition and a Silver Award (90 points) at the 2021 International Wine Challenge Awards and WineGB Awards.Β
As the only female BAME co-founded UK wine producers, Folc recognises that the wine industry has some way to go when it comes to diversity. The team looks to demystify wine and truly represent and speak the same language as their customers.Β
Initiatives we love
Get in touch if you want to learn more about any of these initiatives π¨.
1.Β Β Β Β Β Β Β SEO London. π§Έ The best way to increase participation of underrepresented groups in the finance industry is toΒ start early. Coach , encourage and motivate them to apply to jobs which they wouldnβt have otherwise considered. SEO does a great job of connecting students with employers in the finance industry. Those of you who come from banking, consulting or law may be familiar with them. Their next goal is to expand further into the private equity sphere. You can help by introducing SEO London to your HR department. Theyβre at the early stages of working with funds, but the more funds who engage β the better.
2.Β Β Β Β Β Β SheEo.Β πΈ If youβre eager to start investing in female-led businesses, check out SheEO, a community of βradically generous women supporting women + non-binary people working on the Worldβs To-Do Listβ. In non-marketing speak - SheEO pools together funds to grant interest-free loans to businesses led or co-led by women, with the purpose of creating a better future. Whilst this wonβt generate returns, the pool of capital is evergreen, meaning any loan repayments are used to fund new ventures.
3.Β Β Β Β Β Β Β Smart Works. πΒ There's no denying that your interview outfit affects your confidence. Smart Works makes interview armour accessible to women of all backgrounds. The organisation dresses and coaches unemployed women from underprivileged backgrounds to help them kickstart their careers. Doing a WFH wardrobe clear-out? Save your work-wear and donate it to Smart Works.
Final words from one of our members - Jessica Kruger of Luxtra
WHATβS NEXT FOR SUSTAINABLE FASHION
Once a fringe concept, sustainability in fashion is today arguably one of the most important issues in the fashion industry. Itβs hard to open a magazine, browse a blog or shop online without seeing some reference to how brands are βgoing green.β
So as sustainable fashion gradually becomes βmainstreamβ, what will be the new frontiers? Here below we take a lookβ¦.
Circularity
Today βsustainabilityβ is the buzzword
du jour
, but very soon it will be eclipsed by conversations focusing on βcircularityβ and the βcircular economyβ. As the name suggests, circularity is about designing waste out of the system entirely. This will be a big shift for the fashion industry as it will require brands to plan for the βend of lifeβ of their products. Should they support a second-hand market for their products? Can they take the products back, break them down and reuse them? For many it will be require a radical new approach to their business models.
Weβll similarly start to hear more about other concepts linked to the circular economy, including βcradle to cradleβ, βzero wasteβ and βclosed loopβ.
Greenwashing legislation
As with any trend, there are brands that will try to jump on the sustainability bandwagon without doing the hard yards. Known as greenwashing, this happens when companies exaggerate or distort environmental claims to make them appear more eco-friendly than they really are. In March 2021, France was one of the first countries to introduce fines for companies found to be greenwashing, with the EU and the UK tipped to follow imminently.
Such legislation will protect consumers and hopefully level the playing field somewhat for companies who mean business when it comes to earth friendly fashion.
The Rise of B Corps
Given the fluidity of terms like βsustainabilityβ and their susceptibility to greenwashing, we will see the rise of B Corporations, or B Corps for short. Companies that have certified as a B Corp have gone through a rigorous, independently assessed process that has investigated every aspect of the business. Companies that βpassβ therefore meet the highest standards of ethical and environmental impact.
The status is difficult to achieve, so itβs a signifier to the customers and world at large that they really do walk the walk and talk the talk on all things sustainable.
Bio-based materials & lab grown leather
With more and more attention (and therefore money) directed towards sustainability in the fashion industry, we will see the acceleration of innovative new materials.
Leather-alternatives made from apples, grapes, pineapple leaves and cacti (amongst others) are already available on the market, but command a premium price as the technologies are still in their infancy. They also remain reliant on PU (polyurethane - a plastic made from petro-chemicals) for longevity.
There are dozens of companies around the world working on plastic-free options, and even lab grown leathers. Most are not available on the market and/or extremely expensive, but with time and investment these innovative materials will become mainstream in a matter of years.Β
Consumer savviness & the new frontier
The coming years will see consumers become ever more savvy about sustainability. They will become aware - perhaps even outraged - at the terrible business practises going on behind the glossy façades of many of their hitherto favourite brands.
Social media has given consumers a voice and weβve already started to see brands sit up and take notice. Change amongst big brands is almost by definition slow, meaning those that donβt keep up will start to fade. As weβve seen even in the past few years, brands that arenβt woke to these issues will be eclipsed by the new guard of brands that are switch on and committed to producing their products responsibly.