Sustainable fashion brand Asphalte has raised 5 million euros from Quadia, MCapital Partners, Kostogri, and NACO.
Founded in 2016 by William Hauvette and Rodolphe Gardies, Asphalte designs environmentally friendly clothing lines. As a specialist in menswear, the site launched its first womenswear lines last year.
The clothes are made in Europe from natural or recycled raw materials, and as an alternative to fast fashion, the Bordeaux-based startup stands out for its production and distribution model. It produces on demand by setting up a pre-order system to avoid overproduction.
Asphalte's goal is to produce sustainable fashion by designing clothing lines with limited environmental impact and reasonable prices.
To be completely ethical and transparent with consumers, Asphalte openly talks about its approach, the origin of the materials, and its manufacturing processes on its website. It also displays the carbon footprint of its clothes on the label.
The clothing market is experiencing an unprecedented crisis, including on the Internet, "we have reached a saturation point," according to Gildas Minvielle, director of the Economic Observatory of the French Institute of Fashion. The offer is oversized in the mid-range ready-to-wear sector.
Consumer habits have also evolved. They expect to be more informed about their products and want to turn to eco-friendly solutions.
Since its launch, the brand has sold nearly one million pieces and currently has nearly 150,000 customers and 40 employees, with a turnover of 23 million euros, up 60% since 2020.
This fundraising allows Asphalte to export its pre-order model internationally and experiment with physical retail by opening its first store in Paris.
Quadia is a Swiss-based impact investment firm that focuses on renewable energy, sustainable food, and responsible consumption. They invest in companies that are committed to generating a positive social and environmental impact.
MCapital Partners is a French private equity firm that specializes in growth capital investments. They focus on companies with strong growth potential and support them in their development.
Kostogri is a French investment fund that focuses on companies in the technology, media, and telecommunications sectors. They invest in companies that have a strong potential for growth and seek to create value over the long term.
NACO is a French investment fund that invests in companies in the technology, media, and telecommunications sectors. They seek to support companies that have innovative business models and the potential to disrupt their industries.
Asphalte's recent fundraising is a significant milestone for the company and sustainable fashion. With the support of these reputable investors, Asphalte can continue to grow and expand its reach, while also promoting environmentally responsible fashion.