Collective Kering Raises $216 Million to Accelerate Sustainable Luxury
Introduction: Collective Kering, a platform established by French luxury goods company Kering, has recently raised $216 million in funding to support its mission of accelerating sustainable luxury. The platform was launched in 2020 to support and incubate sustainable luxury start-ups, and has since grown to include over 20 brands and companies. In this article, we will explore the significance of Collective Kering’s $216 million funding round and what it means for the future of sustainable luxury.
The Significance of the Funding: The $216 million funding round represents a significant investment in the future of sustainable luxury. Collective Kering has already made a significant impact on the industry, with a focus on supporting sustainable practices and innovations in the luxury goods sector. The funding will enable Collective Kering to expand its efforts and accelerate the growth of its portfolio of sustainable luxury brands.
The funding round was led by Kering, with participation from a number of other investors, including Groupe Artemis, the Pinault family holding company. The funding will be used to support the development and growth of sustainable luxury start-ups, as well as to fund research and innovation in the field.
The Future of Sustainable Luxury: The future of sustainable luxury is a rapidly evolving space, with increasing consumer demand for environmentally and socially responsible products. Collective Kering is at the forefront of this movement, with a focus on supporting innovative and sustainable practices in the luxury goods industry. The $216 million funding round will enable the platform to further its efforts and support the growth of sustainable luxury start-ups.
One area where Collective Kering is expected to have a significant impact is in the field of sustainable materials. The platform has already supported a number of sustainable material start-ups, including Bolt Threads, which produces spider silk from yeast fermentation, and Worn Again Technologies, which uses advanced recycling techniques to transform textile waste into new materials. The funding will enable Collective Kering to support even more innovative sustainable material start-ups, accelerating the development of new, eco-friendly materials for the luxury goods industry.
Another area where Collective Kering is expected to have a significant impact is in the field of circular economy. The platform has a focus on supporting circular economy practices, which aim to reduce waste and increase the lifespan of products. The funding will enable Collective Kering to support start-ups that are developing innovative circular economy solutions, such as advanced recycling techniques and product reuse models.
Conclusion: The $216 million funding round for Collective Kering is a significant development for the platform and the future of sustainable luxury. The funding will enable Collective Kering to accelerate the development of sustainable luxury start-ups and support the growth of innovative practices and solutions in the luxury goods industry.
As consumer demand for environmentally and socially responsible products continues to increase, the future of sustainable luxury is bright. With the support of platforms like Collective Kering, sustainable luxury start-ups are well positioned to drive innovation and transform the luxury goods industry. It will be exciting to see how the platform uses the $216 million funding to support the growth of sustainable luxury start-ups and accelerate the development of new, innovative sustainable practices in the industry.