Summary
FabricAID, a social enterprise founded in 2017, operates at the intersection of recycling and retail, focusing on establishing a socially and environmentally conscious value chain for the apparel industry and sustainable management of textile waste by collecting unsold stock, donated clothes, and other fabric materials. They then sort, clean, classify, and either sell these items in their retail outlets or upcycle them into new clothing. This process not only addresses environmental issues but also provides affordable clothing options to marginalized communities.
Investment Thesis
FabricAID is a high-potential investment opportunity due to its dual focus on social impact and environmental sustainability. The company has demonstrated rapid return on investment for new stores and plans significant expansion. With a multi-million-dollar equity investment, FabricAID aims to scale its collection sites and retail stores, particularly in Jordan and other regions like Egypt and the Gulf countries, addressing the critical need for clothing supply to meet rising demand.
Refugee Impact
FabricAID has provided affordable clothing to over 200,000 families, enhancing their standard of living and dignity. The expansion of operations and stores in Jordan presents significant refugee employment potential. The company employs refugees as contractors due to local restrictions and plans to increase both local and refugee employment with future growth. Currently it employs 80 people in Lebanon (incl. 20-25 refugees), 36 in Jordan.
Management
Omar Itai -Co-founder and General Manager