Jointly established by investment organization Plug and Play and luxury group Kering Greater China, the Sustainable Innovation Award was launched in Beijing on Dec 7 to fast-track sustainable innovation within the luxury and apparel sectors.

"Creating sustainable and ethical fashion is a goal we must work on together," says Cai Jinqing, the president of the global luxury group, Kering Greater China, during the event.

Inspired by Kering's motto "Crafting Tomorrow's Luxury", the award program will identify promising startups and technologies in China that have the potential to disrupt the current textile value chain to create a positive environmental and social impact. In particular, Kering is seeking startups that address challenges in terms of alternative raw materials, green supply chain, retail and use.