Sustainability start-ups are seeing a rise in interest from fashion conglomerates and brands alike as luxury fashion faces the pressure of being more environmentally friendly and eco-conscious.
She’s not the only one to seize the opportunity. Even in the midst of a grim economic landscape, companies such as Chanel and Adidas have all taken a step to enter the sustainable tech space. In June of 2019, Chanel took a minority stake in a green chemistry firm that’s exploring ways silk could replace chemicals used in clothing manufacturing. Bolton-basedhas developed a natural, silk-based alternative to the harsh and toxic chemicals currently used to create many high-performing textiles.
In August of 2022, Ralph Lauren took a minority stake in Natural Fiber Welding, a material science start-up focused on improving the quality of recycled cotton. Similarly, Adidas secured exclusive access to Mylo, a mushroom-based leather alternative developed by biomaterials maker BoltThreads.For many brands, the current trend marks a shift from years of pilot programmes that, while highly marketable, didn’t require substantial financial outlays and didn’t really move the needle.
The amount of capital flowing into sustainable fashion start-ups is still small compared to the size of the challenge. When it comes to sustainability investments, the funding rounds that luxury fashion brands participate in rarely top US$10 millionaccording to publicly available information on investment tracker Crunchbase.
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