CRAiLAR reaches agreements with Adidas, IKEA

CRAiLAR reaches agreements with Adidas, IKEA

Portland flax fiber supplier CRAiLAR Technologies reached a $3.2 million financing agreement with IKEA and a $2 million private placement from Hydra Ventures B.V., Adidas' corporate venture arm.

“As a global leader in the advancement of sustainability and sports performance, we believe that our relationship with such an iconic sports company will help deliver a CRAiLAR brand and product message to some of the most loyal consumers on the planet,” said Ken Barker, CRAiLAR’s CEO, in a release.

Barker, a former Adidas executive, also noted that IKEA is the world's largest home furnishings retailer.

Read more at Sustainable Business Oregon.