Sports goods retailer Decathlon has announced that it will invest a sum of money through its Decathlon Alliances structure in startup Recyc’Elit.
Recyc’Elit was established in 2019 in the Lyon region of France created a method for recycling complex polyester-based materials by sorting the fibers. The industrialization of this innovation is the next stage.
Recycl’Elit plans to build its prototype by 2025. “The process of recycling complex textiles such as polyester and mixing it with other fibers is a priority for Decathlon, and Recyc’Elit is a trusted partner for developing recycled products from textile waste,” reads a release.
To “maintain its competitive edge while participating in the textile recycling value chain,” Decathlon intends to buy recycled polyester from the company in the long run.
A long-term business relationship has been formed, according to Decathlon, and it will include “the creation of a value chain with Recyc’Elit and all committed partners wishing to become involved in this process,” besides the production of capsule collections.
In October 2023, the start-up was granted €3.2 million by Demeter via the Crédit Agricole Création, business angels, the Fonds d’Amorçage Industriel Métropolitain (FAIM) Lyon – Saint Etienne, Banque des Territoires, and the French government on behalf of France 2030.
In terms of sustainability, Barbara Martin Coppola, CEO of Decathlon highlighted in her “North Star” business plan, which was revealed in March.
It also entails a redesigned shop layout, a more condensed portfolio of its brands, and a new visual identity.
The chain, which has 1,700 stores, brought in €15.6 billion in sales globally in 2023 (+1.15 percent) and made €931 million in net profit (+0.9 percent).
