Syre, a start-up dedicated to decarbonizing and reducing waste in the textile industry, has announced its collaboration with Gap Inc., Houdini Sportswear, and US retailer Target as commercial launch partners.
These partners are tasked with bringing Syre’s innovative circular polyester to the market and promoting its integration within their product lines. This initiative aims to reshape the textile landscape by creating sustainable alternatives to traditional materials.
Founded in March of the previous year by global investor Vargas in conjunction with Swedish retailer H&M Group, Syre is focused on building textile-to-textile facilities that produce circular polyester. The company claims that its processes could potentially cut CO2e emissions by as much as 85% when compared to conventional oil-based polyester manufacturing.
Syre has announced plans for its first production plant, which will be located in North Carolina and is expected to start operations in 2026. This facility is projected to produce 10,000 metric tons (mt) of circular polyester annually.
Eva Karlsson, co-founder and chief creative officer of Houdini, commented, “In partnership with Syre’s ambition, we are closing in on that vision.”
Meanwhile, Target plans to incorporate Syre’s textile-to-textile recycled polyester into select products from its owned brands. The retailer, operating nearly 2,000 stores, aims to ensure that all its own brand offerings are designed with circularity in mind by 2040.
Syre’s CEO, Dennis Nobelius, expressed enthusiasm about the new partnerships, stating, “We are thrilled to announce our collaborations with these esteemed and forward-thinking brands, representing different segments and sizes. They are truly front runners, understanding the need to secure capacity of a scarce resource. As we embark on the next phase of scaling at speed, we’re confident that these collaborations will not only bolster commercial success but also help redefine the industry and drive the urgent shift towards true circularity.”
Recent market research conducted by Syre in partnership with McKinsey has indicated an anticipated annual supply-demand gap of 10-12 million tons for textile-to-textile recycled polyester by 2030. The report highlights that the demand for circular materials is expected to increase, driven by growing commitments from brands aiming for circularity and forthcoming regulations.
