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Rags2Riches

Rags2Riches (R2R) provides income generation to unskilled artisans by training them to produce eco-friendly products.

Facts

Investee Rags2Riches (R2R), founded 2008
Location Philippines
Sector Employment and skills
Funding start 2009
Funding type Equity; debt

 

Impact

Context

The Philippines generate approximately 18'000 tons of waste daily. 33% of all Filipino households live below the national poverty line. Members of poor and indigenous communities, especially women, have difficulty earning sustainable livelihoods from their community-made products due to lack of market access, consumer demand, product development, and personal/skills training.

Solution

  • R2R provides marginalized women with product development, sales, marketing, and logistics support to produce and sell stylish and eco-friendly products made from scrap cloth
  • R2R trains and organizes poor communities, providing members with modules on self-esteem/confidence, values formation, savings and financial management
  • R2R partners with various companies to up-cycle scrap materials and reduce waste accumulation

Impact depth

By training unskilled artisans, and through use of creative design and excellent corporate partnerships, participating women will be earning above national average of 100USD per month, by producing creative, low cost, eco-friendly products made of scrap cloth.

R2R contributes to:

  • Income generation: Women from marginalized communities are receiving regular income to sustain their families
  • Women empowerment: Artisans become more independent citizens, by being trained in skills like product design, marketing and salesmanship
  • Financial resilience: Families benefit from financial literacy and savings accounts, which increases their ability to withstand financial shocks
Impact Reach 2010 2011 2012 2013 2014 2015e
# of artisans trained 450 250 175 94 80 0
# of active artisans 450 209 129 155 164 150
# with savings accounts n/a 0 65 140 183 183

 

SDGs

By investing in Rags2Riches, we align with and contribute to eight of the United Nations’ Sustainable Development Goals.