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Nike to set up sustainable venture capital arm
01
Oct '11
Nike Inc., a leading sportswear supplier, has announced setting up of a sustainable venture capital arm in an effort to cut manufacturing costs and promote green commerce.

The new arm called the Sustainable Business & Innovation (SB&I) Lab will support startup companies that focus on efficient approaches to production, use of alternative energy and promotion of healthy lifestyles.

The SB&I Lab will also finance partnerships with both government and non-government organizations.

By embracing alternative sources of energy and sustainable production, the sportswear company may be able to deliver its products at cheaper rates as it is trying to find ways to reduce costs in the midst of increasing prices of raw materials, transportation and labour.

The move will also help Nike to attract customers who prefer eco-friendly products. In 2010, Nike launched soccer jerseys made using recycled polyester from plastic bottles.

Fibre2fashion News Desk - India

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