.HUGOBOSS confirmed plans to invest an initial $5 million in the HeiQ subsidiary that makes the new AeoniQ yarn, and has pledged a further $4 million based on a series of performance milestones.
Boss also has ambitious sustainability targets, which include climate neutrality at the company by 2030, and throughout the entire value chain by 2045. It has also been putting a particular emphasis on establishing an end-to-end circular business model.
Alongside Boss, the Lycra Company has also invested in AeoniQ, and will be the exclusive distributor of the yarn. Lycra said it had made a “significant, undisclosed investment,” and is committed to developing the AeoniQ technology for broad application in textiles.said “through our close collaboration with HeiQ, we are working together to fast-track the commercialization of HeiQ’s AeoniQ yarn, and are excited by the impact this ground-breaking innovation will have on the apparel industry.
There are no toxic chemicals involved in the yarn’s production, and it does not draw on arable land, pesticides or fertilizers for its feedstock, HeiQ said.AeoniQ has been designed to substitute existing oil-based filament yarns, such as polyester and nylon, which constitute more than 60 percent of global annual textile output.
HeiQ plans to build its first commercial AeoniQ “giga factory” in Central Europe by the end of 2024, and is currently scaling up a pilot plant for fiber production which is set to begin operating later this year.
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