The British Fashion Council (BFC), UK Fashion & Textile Association (UKFT) and UK Research and Innovation (UKRI) have announced a new partnership that aims to bring together industry, innovators, investors, academia and broader stakeholders.

The CFIN will be co-chaired by the BFC’s CEO Caroline Rush and the UKFT’s CEO Adam Mansell and will help create a “roadmap” accelerating the UK towards a circular fashion economy.

Global economic forecasting company Oxford Economics estimated the UK fashion industry contributed £29bn ($36.25bn) to UK GDP in 2022. However, the Institute of Positive Fashion estimates that consumption of new clothes in the UK is also higher than in any other European country. The CFIN aims to move the UK towards a circular economy model.