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Goldman-Backed Recycled Cotton Supplier Valued at $1 Billion

The Spanish company Recover, whose clients include Zara-owner Inditex and Revolve, raised $100 million in a funding round led by Goldman Sachs as it targets growth amid mounting demand for recycled fibres.
Recover's recycled cotton fibre is used by fashion brands and retailers Primark, Revolve and Zara.
Recover's recycled cotton fibre is used by fashion brands and retailers Primark, Revolve and Zara. (Courtesy)
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Recover, the Valencia, Spain based producer of recycled cotton fibre and cotton fibre blends for many major fashion brands, has closed a $100 million minority equity investment led by Goldman Sachs Asset Management and existing investor STORY3 Capital Partners. The new funding values the company at $1.1 billion, according to sources close to the deal.

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About the author
Sheena Butler-Young
Sheena Butler-Young

Sheena Butler-Young is Senior Correspondent at The Business of Fashion. She is based in New York and covers workplace, talent and issues surrounding diversity and inclusion.

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