PDS Multinational Fashions acquires 50% stake in UK based 'Filkor Limited'
17th September 2021, Mumbai:
PDS Multinational Fashions, a design-led sourcing, manufacturing and supply chain platform catering to leading brands and retailers globally, has acquired a 50 per cent stake in Filkor Ltd, a UK-based entity, with an investment of £500,000 through its subsidiary company.
Filkor has developed a product destruction process that allows high-end fashion houses to transform their waste and surplus stocks into a granulate that is then upcycled 100 per cent into a variety of further uses, i.e., brick slips, shop fittings and other artistic and functional objects.
Notably, Filkor will form part of the Circular Fashion Impact fund within the PDS Venture Tech Investments portfolio. The company will enable PDS to further strengthen its capabllites and have a positive impact on its ecosystem, says Pallak Seth, Vice-Chairman, PDS.
Sanjay Jain, Group CEO, adds, Filkor fits perfectly within the company’s portfolio from both business and environmental perspective.
Filkor has effectively developed an automated repurposing system, which by using patented collection and processing methods, produces and utilizes the resultant waste to create a brand-new substrate that can be used in a wide range of global industries.
