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Case
-
Reference no. IMD-7-2073
New product
Prize winner
Subject category: Entrepreneurship
Published by:
Institute for Management Development (IMD) (2020)
Version:
14.09.2020
Revision date:
01-Oct-2020
Length:
17 pages
Data source:
Field research

Abstract

Madrid, March 2019. ECOALF was born from the belief of Javier Goyeneche that something had to be done to ensure the sustainability of the planet. How was it possible that in 2019 airlines still gave passengers plastic bottles when it was a well-known fact that less than 50% of them would be recycled. ECOALF was Javier's personal contribution to the quest for a better, more responsible future: a truly sustainable fashion company that did not use up natural resources but sourced only recycled products harvested from the ocean as raw materials. This new generation of products would be of the same or superior quality and design as the best non-recycled products. ECOALF's early achievements were already making headlines, but positive PR did not free Javier from more mundane financial considerations, as he struggled to raise cash from investors to accelerate the development of the company. Getting to a critical size was a matter of survival for the company, to gain impact and profitability, and investors wanted to see more of that. That required figuring out the business model, an adequate portfolio mix and other strategic considerations. Building a brand on values was never easy but sustainability superseded those reservations and impacted everyone. Indeed, there was no planet B...

Topics

Entrepreneurship; Sustainability; Marketing; Fashion; Brand building; Circular economy; Environmental

Setting

The events covered by this item took place in 2014-2019.

Geographical setting

Country:
Spain

Featured company

Company name:
ECOALF
Employees:
51-200
Industry:
Apparel and fashion; Textile

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