“We started with big dreams, but we kept our feet on the ground. We made the most of what we had. In fact, Faslink began with four old domestic sewing machines from Japan. We couldn’t afford new ones,” shared Trần Hoà ng Phú Xuân, Founder & CEO of Faslink, at a seminar titled “Redefining Success: Empowering Women Entrepreneurs for Sustainable Development,” held in Ho Chi Minh City last week.
The event, organized by Beacon Fund and the Women’s Initiative for Startups and Entrepreneurship (WISE), raised an important question. The narrative of unicorn startups, publicly traded companies worth billions, and venture capital culture has inadvertently created a narrow definition of “success”: maximizing growth and company valuation as quickly as possible.
In reality, models focusing on sustainable development and long-term market presence have not received the attention and recognition they deserve.
For Faslink, the company’s goal is to minimize negative impacts in the fashion industry—the second most polluting industry in the world. Thus, they embraced sustainable fashion 18 years ago.
“It was extremely challenging during the first 3-4 years of Faslink’s journey with sustainable fashion. This concept was novel and not widely accepted in the Vietnamese market. However, looking at the long-term vision, I believed that pursuing sustainable development would bring more opportunities. So, we persevered through the initial difficulties for five years,” recalled Trần Hoà ng Phú Xuân.
Faslink’s coffee ground t-shirt.
Fifteen years ago, Faslink was the first company to utilize bamboo fiber and later coffee grounds. Today, they have expanded their range of “green” natural fibers to include lotus, shellfish, coconut, and mint fibers, processed with modern technology to ensure softness, durability, and aesthetic appeal. CEO Phú Xuân proudly shared that Faslink is one of the few textile companies in Vietnam heavily investing in R&D (research and development).
“Some may question why we dared to invest in R&D when we didn’t have much financial backing. Faslink’s formula is all about collaboration. When you know how to collaborate and share work goals, many parties will be willing to help with R&D,” explained Ms. Xuân.
“There’s something that investment funds may not like to hear. Our founding team isn’t that financially savvy. We work with what we have, ensuring it’s enough. What matters most to us is creating good products that can reach the market.
We convince people that making a positive impact transcends profits. Of course, in business, profit is almost always the primary goal. However, if we believe that good products should serve the market, our thinking will be more open, and solutions will present themselves. The problem isn’t solely ours to solve; when we share our dreams and questions, many will join us on this journey,” added the CEO.
