The Good Fashion Fund (GFF), operated by FOUNT, has collaborated with Wazir Advisors to facilitate a sustainable investment in Sharadha Terry Products Private Limited (STPPL), a well-established Indian manufacturer and exporter of high-quality bed and bath linens under the MicroCotton® brand. Acting as the technical advisor, Wazir Advisors provided comprehensive assessment services for GFF’s investment in STPPL’s newly planned rugs production facility.
The investment, amounting to USD 1.75 million, will help finance the development of STPPL’s state-of-the-art rug manufacturing unit named Sri Gugan Mills, located in Metupalayam, Tamil Nadu. This facility will utilize cutting-edge tufting machinery and aims to produce 4 million square meters of bath and area rugs annually. These rugs will primarily be made using dope-dyed polyester and cotton, with future integration of other recycled fibers currently in development.
Sustainability is at the core of this initiative. The facility will significantly reduce water consumption and avoid the use of hazardous dyeing chemicals. Supporting these efforts is a robust in-house effluent treatment plant (ETP), projected by STPPL to reclaim around 98% of wastewater. Furthermore, the unit is expected to create employment for over 200 local individuals, offering opportunities for both men and women from surrounding communities. The power requirements of the facility will predominantly be met through STPPL’s captive renewable energy sources, including 5.1 MW of wind and 10.1 MW of solar power.
Vikram Krishna, Managing Director of STPPL, expressed pride in the partnership, stating, “Collaborating with the Good Fashion Fund empowers us to broaden our product range while maintaining our unwavering dedication to sustainable innovation and community welfare. This venture represents our commitment to building a responsible, clean energy-driven, and socially inclusive manufacturing setup.”
This investment marks the conclusion of funding disbursements under the existing Good Fashion Fund. The Fund is now preparing for its next phase—Good Fashion Fund 2.0—which will build upon the accomplishments and insights gained during the current cycle.
Bob Assenberg, Fund Director at GFF, remarked, “We are thrilled to finalize our current investment phase with Sharadha Terry Products. This collaboration reinforces our mission to drive impactful change across the deeper tiers of the textile value chain. We thank Wazir Advisors for their expert technical guidance throughout this process.”
Echoing the sentiment, Varun Vaid, Business Director at Wazir Advisors, added, “We commend manufacturers like STPPL for embracing sustainable practices. Our involvement in evaluating this project is aligned with our commitment to supporting the textile and apparel industry’s transition to environmentally and socially responsible operations.”
With this strategic expansion, STPPL is poised to enhance its legacy as a leader in home textiles, boosting both its revenue prospects and its dedication to sustainable, resource-efficient manufacturing.
