It’s the holy grail for the fashion industry: Can manufacturers seamlessly close the loop on fabric, so an old T-shirt or dress headed for the landfill can be turned into something new? The world now buys more clothing than ever before in history; the average American throws out 68 garments in a single year. A new €1 million competition asked for new ideas to help the industry become more circular. “Fashionista or not, clothes are…