RSF Makes a Loan to PACT
RSF Makes a Loan to PACT
CAMPAIGN: Financing Announcements
RSF is pleased to announce a new loan to PACT, a sustainable fashion brand which makes organic cotton underwear, socks, and t-shirts. RSF provided a line of credit that allows PACT to purchase inventory to meet the growing demand for its products.
PACT was founded by Jeff Denby and Jason Kibbey in 2009. The pair, who met in business school at UC Berkeley, shared a strong desire to create a socially responsible basic apparel business by focusing on building a sustainable supply-chain. Jeff had a background in supply chain management (Gap) and witnessed first-hand the negative impacts of the fast fashion model that so many apparel companies employ today. Jeff and Jason set out to change this dynamic by creating PACT, a business that exercises full supply chain transparency and a commitment to the highest standards in ethical trade and environmental sustainability.
“PACT is more than just a sustainable brand,” says Mike Gabriel, RSF Lending Manager. “They are really fostering a community—suppliers, producers, intermediaries, and consumers—to accelerate change in the fashion industry. We are excited to support them in this time of growth.”
PACT’s mission is to sell clothes that make the world a better place. Consumers are more aware of the negative impacts of the “fast fashion” model that brands like H&M and Nike have popularized—very low-cost fashion forward clothing produced (mainly in the developing world) at the expense of poor laborers and the environment. PACT is changing the conventional fast fashion model through a concept it developed called Seed-to-Shelf, essentially a fair and sustainable trade model for sourcing, producing and marketing fashionable basic apparel.
“Our commitment to transparency often requires PACT to invest more deeply and at different stages with our supply-chain partners,” says Jeff. “PACT and our consumers see tremendous value in these investments and we are thrilled to partner with a lender that is aligned with our efforts to bring everyday apparel to market through more sustainable means.”
PACT currently sells its line of basic apparel for men, women, and children online and in retailers, such as Whole Foods, Nordstrom, and Sprouts. Use the code “RSF25” to get a 25% off discount on your next PACT purchase.
PACT is a company obsessed with a big idea: super soft organic cotton essentials that are ethically made and go easy on the environment. We’re out to change the apparel industry and that change starts with your underwear. At PACT we care about our clothes so much that from seed to shelf, we pretty much follow them everywhere they go. From Non-GMO organic cotton grown at farmer cooperatives, to sustainable manufacturing in Fair Trade factories, our fully transparent supply chain allows customers to not only feel good in PACT, but also feel good about where PACT came from. PACT is based in Boulder, designed in San Francisco, and manufactured in India and Turkey but you can come by and visit us anytime www.wearpact.com.