The Good Fashion Fund (GFF), managed by FOUNT, has announced a USD 1.75 million investment in Sharadha Terry Products Pvt. Ltd. (STPPL)—the company behind the globally recognized MicroCotton® brand. The funding will support the launch of a new sustainable bath and area rugs unit, Sri Gugan Mills, in Metupalayam, Tamil Nadu.
This new unit will feature a state-of-the-art tufting machine with a production capacity of 4 million sq. meters annually, focusing on dope-dyed polyester and cotton bath rugs. Sharadha aims to integrate recycled fibers into future product lines, and the plant will include a high-efficiency effluent treatment plant (ETP) capable of recovering up to 98% of wastewater, significantly reducing water use and eliminating hazardous dyes.
The unit will generate over 200 new local jobs, promoting inclusive economic growth and female employment in the region.
“We are proud to partner with the Good Fashion Fund to expand our sustainable product line and build one of India’s most resource-efficient rug manufacturing units,” said Vikram Krishna, MD, Sharadha Terry Products.
The investment marks the final commitment under the current GFF portfolio, with plans underway for a follow-up fund, Good Fashion Fund 2.0.
Sharadha Terry continues to set new standards in clean energy (100% powered by wind and solar), certified sustainability, and responsible manufacturing, making it a leading force in the Indian home textile industry.