Bloomingdale’s and FIT launch Sustainable Innovation Fund

US fashion department store chain Bloomingdale’s is celebrating its 150th anniversary this autumn and has teamed up with the Fashion Institute of Technology to launch the Bloomingdale's x FIT Sustainable Innovation Fund. It has also announced the launch of its new social purpose platform entitled b the change.

The aim of the Sustainable Fashion Fund is to bring the fashion industry together and engage retailers and fashion professionals, encouraging them to participate in joint sustainable projects that “will create viable solutions,” Bloomingdale’s and FIT said in a release.

B the change is a social purpose and philanthropic platform centred around sustainability initiatives, inclusivity and innovative educational programmes and other future-oriented projects.

More concretely, the aim of the platform is “to protect our planet for the next generation, build a more equitable future for everyone and invest in the youth of today through mental health advocacy,” Bloomingdale’s explains on its website.

The goal of the two partners in creating both initiatives is to create new spaces and resources that support teaching and learning, research, and offer activities to educate students, faculty, alumni, industry partners and the public about sustainability.

The Bloomingdale's x FIT Sustainable Innovation Fund

"FIT is honoured to be part of this new initiative created by Bloomingdale's," Dr. Joyce F. Brown, FIT president, said in a statement. "Partnering with Bloomingdale's will promote and enhance the strong, active and highly visible commitment that FIT has made to sustainability innovation”.

“In collaboration with their leadership, we want to demonstrate that sustainability is possible for a large institution and ultimately provide a model for other organisations. Like Bloomingdale's, we recognize that sustainability is not an isolated goal; it extends into related areas such as corporate social responsibility, ethics and fair trade,” Dr. Brown concluded.

The funds raised through the collaborative initiative will be used to launch educational and mentorship programs, open innovation labs, sustainable fashion showcases, and more.

Bloomingdale’s is organising various online and in-store events throughout the year with the aim to raise 2 million dollars for its philanthropic initiatives.

For instance, throughout the month of September, Bloomingdale’s shoppers can donate to the Bloomingdale's x FIT Sustainable Innovation Fund by rounding up their purchase to the nearest dollar in store or making a donation online at checkout.