Sri Kannapiran Mills Limited, a cotton yarn and sustainable denim fabrics producer, borrowed $2.5 million from The Good Fashion Fund, The Laudes Foundation, and Fashion for Good.
The investment will replace legacy equipment and add key machinery (new and used) across the spinning and post-spinning processes, including auto blenders, high-speed rotor spinning machines, auto doffers for existing ring frames and high-speed winding machines.
In addition, the investment will add capacity to the existing air-jet looms and replace fabric singeing equipment in the denim weaving and fabric production process.
Speaking on the partnership, Srihari Balakrishnan, Managing Director of Sri Kannapiran Mills Limited, said, “We are delighted to be working with Good Fashion Fund and this investment helps us dig deeper into sustainable practices. The positive impact investment will help our company nurture growth and make it stronger. We continue to be an example in sustainability for other denim manufacturers and this investment will help us move to the front and center of sustainable fashion.”
Advertisement
Bob Assenberg, Fund Director of Good Fashion Fund commented “We are happy to formalize the relationship through this investment with Sri Kannapiran Mills, based in the important Coimbatore/Tirupur textile cluster. SKML has thoughtfully integrated sustainability across its operations and is committed to improving continuously. We greatly appreciate the positive cooperation and are excited to begin this new partnership.”
Anita Chester, Managing Director of Laudes India, emphasised “The urgency of the climate crisis requires brands and their suppliers to be working together to address key sustainability challenges in materials processing and apparel production. Investments like this are a critical enabler, allowing producers to take their sustainability efforts to the next level in apparel manufacturing in India while scaling their production.” Laudes Foundation is the initiator of the Good Fashion Fund.
Just one email a week