GAP, INC. TEAMS UP WITH $1 BILLION INVESTMENT FUND TO TRANSFORM ASIAN GARMENT FACTORY CONDITIONS

Gap Inc., the parent company of Gap, Banana Republic, and Old Navy, is partnering with the investment fund Tau in an effort to address human rights violations within the Asian garment industry. The fund hopes to raise $1 billion in order to improve labor conditions in factories throughout Asia. The Tau fund and its investors intend to purchase minority stakes in Asian factories and install technology that will increase supply chain transparency, as well as upgrade environmental standards and improve productivity.

Tau cofounder Ben Skinner expressed the hope to create factories within the $1 trillion apparel industry that are the “most radically transparent and most radically compliant” in the world.

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