THE Asian Development Bank’s Frontier Seed initiative in the Pacific has made its first investment in the Cook Islands, backing Manini Wear with $USD130,000 in growth capital as the multilateral lender looks to support locally owned businesses and lower-carbon supply chains in the region.
The investment marks ADB Frontier’s first non-sovereign transaction in the Cook Islands and will help the contemporary fashion and lifestyle brand shift to lower-carbon ocean freight, which the company said would cut the carbon footprint of its supply chain.
It will also fund an expansion into Aitutaki, where the company said retail options remain limited despite about 40,000 annual visitors.
“The Pacific is home to some of the world’s most innovative and resilient entrepreneurs, and Manini is a testament to that,” Azusa Sato, regional director of ADB’s Pacific Subregional Office, said in a statement.
“This investment reflects ADB Frontier’s commitment to backing locally owned businesses that are building industries from within that are creating jobs.”
Sato said the bank was “proud to make our first investment in the Cook Islands and to support a brand that is as purposeful as it is creative.”
Founded in 2019, Manini Wear designs Pacific-inspired apparel and says it uses certified sustainable fabrics, including ECOVERO, a fibre made from responsibly sourced wood.
The company said its dresses are produced by a women-owned and women-led manufacturing partner in Bali, where more than 95 per cent of workers are women, giving the brand a gender-inclusive supply chain from design through production.
“We started Manini because we wanted to create and express local fashion through a contemporary lens and in our own way; combining Pacific Island influences with a modern aesthetic that felt fresh, relevant, and unique,” co-founder Tara Tuarae-White said.
“Since launching from our very first market stall in Rarotonga in 2019, that vision has been warmly embraced by our local people and international visitors alike. This partnership with ADB Frontier gives us the foundation to grow in the right way.”
ADB Frontier said its model uses flexible financing, including revenue-based funding, for small and growing enterprises.
