New York – The iconic luxury brand has taken yet another step in its quest to become a greener, more sustainable fashion company. Chanel has just announced a minority investment in an eco-friendly silk technology startup.
Chanel announced Tuesday it has agreed to acquire a minority stake in Boston-based eco-friendly silk technology startup Evolved by Nature. Chanel plans to replace harsh synthetic additives with sustainable alternatives, contributing to the industry’s efforts to make luxury items less damaging to the planet.
Evolved by Nature’s trademarked Activated Silk is derived from actual silkworm cocoons, which can be used in fabrics, cosmetics, and medical products, according to the company. Based in Boston, the company was founded by biomedical engineer Rebecca Lacouture and chemist Gregory Altman in 2013.
Their product is pure silk in liquid form, a regenerative technology made from discarded silkworm cocoons. The company has patented dozens of molecular combinations of the natural silk protein in the past five years.
Evolved by Nature said it will use the fresh funding to “explore innovative material, mechanical and optical enhancements of different fabrics.”
For the time being both the price tag and how the technology will be specifically integrated into Chanel’s products remain undisclosed.
Noteworthy, Chanel has been investing in environmentally friendly suppliers and partners over the past years. The French fashion powerhouse invested last year in Finnish biodegradable plastic packaging alternative Sulapac.
On a related note, it’s worth recalling that Chanel has been leading the pack in terms of securing its supply chain with the acquisition of four high-end French silk companies.