Lingerie brand Adore Me launches its own start-up accelerator
First cohort of five companies announced for the six- to 12-month partnership.
File this under the category of “who would have thought.”
According to an article in ModernRetail, lingerie brand Adore Me is aiming to give climate tech start-ups a foothold in the apparel industry by launching an accelerator, offering up its own supply chain data and manufacturing processes as a laboratory for sustainable practices.
The Adore Me Sustainability Accelerator consists of a six- to 12-month partnership that includes onboarding, testing and integrating the start-ups’ technologies or services with Adore Me’s operations. The start-ups will have access to the brand’s internal workings to help build out case studies and improve their products for the wider market — including the potential to work with Adore Me’s parent Victoria’s Secret. Meanwhile, Adore Me can reap the benefits of what the products can provide or keep working with the start-ups long-term.
Unlike other accelerators, there’s no guaranteed investment or funding for the participants. “Equity funding and financing is not actually the roadblock that these companies are facing,” said Vice President of Strategy Ranjan Roy. “Climate tech is a very hot space, so these companies can find funding. It’s the partnerships, the ability to show traction and scale and success that’s the real challenge.”
The first cohort includes five start-ups spanning digital infrastructure to “smart” materials: EverDye, Carbonfact, Commonshare, Pendulum and Epoch. As part of the accelerator launch, Adore Me’s Paris operation will become the sustainability hub along with two dedicated roles. In the coming year, Adore Me will develop an application process in place to bring new companies on, Roy said.