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Adidas invests in Spinnova

1 day ago   |   By Fashion United

Image: Adidas Newsroom
Adidas is continuing its quest to go green. The German sportswear retailer has invested in Finland's Spinnova, a company that makes textile fiber out of wood or agricultural waste. The news was reported by Reuters.
Adidas has subscribed to 3.65 million worth of shares in the company's IPO, bringing Spinnova's total investment to 58 million euros. Spinnova is working on opening its first commercial factory in Finland with wood raw material supplier Suzano.
A 500 million euro sustainability bond Adidas issued last September was five times oversubscribed, with proceeds...
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