The fashion industry has a waste problem. Out of all clothing produced, 30% of it is never sold or worn.
Supply chain inefficiencies cost fashion companies an estimated $300 billion a year globally. Julija Bainiaksinaite founded MyFactori in 2014 to tackle this waste problem and is now building a platform for SME fashion brands to run and better optimise their supply chain logistics. Through raw material sourcing to production management and better demand forecasting, MyFactori is building a platform for companies to streamline their operations to reduce waste.
It is currently working towards securing founding partners and clients, and will launch its beta testing platform at the end of this year.
“The Enterprise Fellowship helped me to support my technology development and provided great educational resources on setting up a startup company.”