Vestiaire Collective announces a new financing round backed by Kering and Tiger Global Management

Vestiaire Collective announces a new financing round backed by Kering and Tiger Global Management

Vestiaire Collective, The leading global platform for desirable second-hand fashion has announced the completion of a new €178 million financing round, backed by global French luxury group Kering and US investment firm Tiger Global Management. Existing shareholders including Vestiaire Collective’s CEO, Max Bittner, Bpifrance (Large Venture), Condé Nast, the Eurazeo Group (Eurazeo Growth and Idinvest Venture) (RF.PA), certain funds managed by Fidelity International, Korelya Capital (backed by NAVER) (KRX: 035420), Luxury Tech Fund (LTF & Cuir Invest) and Vitruvian Partners also reinvest. Following a strong year that saw the platform’s transaction volume grow over 100% year-on-year, this financing round grants Vestiaire Collective unicorn status and ideally positions it for its next cycle of accelerated growth.

Maximilian Bittner, Vestiaire Collective’s CEO commented:This latest round of investment confirms the incredible trajectory of Vestiaire Collective, founded during the 2008 crisis, the model has clearly demonstrated its ability to continue to thrive during challenging conditions. The resale sector as a whole is experiencing rapid growth, especially amongst Millennial and Gen Z consumers, which will come to shape the retail landscape of the future. We are incredibly excited to welcome Kering and Tiger Global Management, both of which will be instrumental in our mission to build a more sustainable fashion industry and further grow our incredible global community”. 

Eastman and GP Cellulose provide critical support for longleaf pine restoration in Florida

Eastman and GP Cellulose provide critical support for longleaf pine restoration in Florida

In celebration of the International Day of Forests on March 21, Eastman, Eastman Foundation and GP Cellulose worked with The Longleaf Alliance (LLA) to provide 60,000 longleaf pine seedlings to Torreya State Park in Northwest Florida. This conservation collaboration is intended to help protect forest ecosystems, support delicate wildlife communities, and help repair the planet for future generations.

The planting is part of a larger effort to restore important longleaf habitats that provide homes to endangered, threatened and at-risk species such as the gopher tortoise and the eastern indigo snake. Restoring longleaf pine forests can also help protect Florida’s water quality.

The Torreya State Park site was selected because of the devastation to the area from Hurricane Michael in 2018. Eastman Foundation and GP funded the conservation project due to their shared commitment to restoring and maintaining these fragile forest ecosystems.

“Eastman recently announced our vision for A Better Circle to address climate change, mainstream circularity and build a more inclusive and equitable world,” said Jon Woods, General Manager, Textiles for Eastman. “As part of this vision, we also announced our NaiaTM sustainability commitments, where our NaiaTM team underlines our full commitment to the protection of forest ecosystems across the globe. We are proud to work with The Longleaf Alliance and Georgia Pacific to restore a threatened ecosystem so that it may thrive once more for future generations. Through the restoration of the longleaf habitat at Torreya State Park, we pledge to educate communities on the importance of responsible forest management, playing our part in building awareness on the vital role of forests.”

LVMH supports La Fabrique NOMADE for launch of new collection

LVMH supports La Fabrique NOMADE for launch of new collection

Founded five years ago by Inès Mesmar, La Fabrique NOMADE promotes the skills of refugee artisans by presenting collections created with support from volunteer designers and stylists. Its new Traits d’Union 5 collection will be launched online on March 23rd, featuring creations around the evocative theme of “Le Renouveau” (Renewal), proposed by creative directors Pauline Ricard-André and José Lévy.

“These are much more than simply fashion and décor items, they embody the tenacity that transforms beauty into esteem, esteem into hope, and hope into a future,” says La Fabrique NOMADE director Inès Mesmar.

LVMH is once again supporting the collection this year, in particular through the engagement of designers, artisans and experts from Celine, Chaumet and Louis Vuitton who are working with the craftspeople supported by the charity. LVMH’s Antoine Arnault underlines the importance of this support for the Group: “I am delighted that our Maisons have welcomed these artisans to visit their workshops and encouraged their contribution to joint projects. Sharing experience is a two-way process that’s extremely enriching for everyone involved. This partnership has also brought talented people together and resulted in very concrete achievements in terms of professional integration.”

Woolrich launches Outdoor Foundation

Woolrich launches Outdoor Foundation

For almost 200 years, nature has served as Woolrich’s main inspiration. Now, they want to take the steps to protect this planet so that the next 200 years are sustainably paved. This new chapter marks an ongoing commitment to the environment as they announce the launch of The Woolrich Outdoor Foundation.

Levi’s Wellthread S/S 2021 collectionsLevi’s Wellthread S/S 2021 collections

Levi’s Wellthread S/S 2021 collections

More than a collection, Levi’s Wellthread is a laboratory for progress. It’s an effort to work through a set of design and manufacturing challenges in order to create a more sustainable future. For Spring/Summer 2021, progress comes in the form of exciting innovations and styles, including the introduction of 55% hemp blended fabrics, new natural-dye techniques, the expanded use of organically grown cotton, and the recyclability of every Wellthread garment.

This season, Levi’s Wellthread embraces looser silhouettes for women’s with the introduction of the High Loose, the flattering high rise fit with a loose long leg. The women’s Trucker Jackets also gets an update with a silhouette that is casually loose or one that’s adjusted at the waist for a fuller balloon like fit.

“Our Wellthread design methodology prioritizes environmental sustainability in the materials we use. This spring we conEnue to refine and develop hemp, seeking ways to optimize it for our collections. Our hemp denim products not only meet our customers’ expectations of authenticity and comfort but also reduce our garments’ water footprint.”—Una Murphy, Senior Innovation Designer at Levi’s.

For men, Levi’s embraces looser silhouettes for men’s, adding a new fit; the 551 Z, an authentic straight fit updated with a zip fly.

Levi’s Wellthread has been hard at work over the last few seasons developing ways to make hemp a much softer and more usable fiber solution for the Levi’s fans. Hemp generally requires less water and fewer pesticides in cultivation than conventionally grown cotton resulting in cleaner, healthier soils. The hemp blended into these garments comes from rain-fed hemp crops, which reduces water usage even further.

Also this season, the use of plant-based natural dyes for denim and tees are addressed. Traditionally, plant based-dyes can require the use of toxic chemicals to make the dye penetrate the yarn. But Levi’s Wellthread uses a technique by which ultrasonic waves are used to apply the dye to the fiber reducing the need for harsh chemicals, and reducing the garment’s overall environmental footprint. Every T-shirt in the Levi’s Wellthread collection this season features this innovative, water saving plant-based dye technique.

The LYCRA Company completes Higg Facility Environmental Module Self-Assessment

The LYCRA Company completes Higg Facility Environmental Module Self-Assessment

The LYCRA Company, a global leader in sustainable fibre solutions for the apparel industry, has completed the Higg Facility Environmental Module (FEM) Self-Assessment at all six of its LYCRA fibre manufacturing sites. The robust impact assessment, which reviews environmental management systems, energy and water consumption, emissions, wastewater, and waste and chemical management at the plant level, helps manufacturing sites establish an environmental baseline to drive continuous improvement.

The pilot project at The LYCRA Company’s Maydown site (in northwest Northern Ireland) began more than a year ago. Based on the initial findings, the remaining five production sites conducted self-assessments at the same time.

“I would like to thank all the sites and the team that supported them for their efforts in achieving this significant milestone,” says Gary Huffman, Director of Operations Excellence, The LYCRA Company. The fact that all sites completed the module underpins our commitment to manufacturing excellence across a wide range of sustainability parameters and provides us with a framework for future improvement.”

The modules were published on the Higg portal in December 2020 and can now be securely shared with customers on request via the Higg platform. They provide insights into The LYCRA Company’s sustainability performance and underscore the company’s commitment to transparency.

Stone Island and New Balance join forces to collaborate

Stone Island and New Balance join forces to collaborate

New Balance and Stone Island are joining forces to kick off a long term relationship. Collaborative product releases will be available later this year.

Known as cultural drivers, both brands share similar values of research and functionality in their respective areas of expertise, and take an analytical approach to innovative data-driven design. Initial talks were based on the common vision of developing a footwear collaboration that will roll out in several different waves over the next few years. By transcending current trends, New Balance and Stone Island will together bring their shared values to life in new and creative ways.

“Our collaboration with Stone Island is not only rooted in performance innovation, but elevating our mutual values of premium craftsmanship and superior product quality,” said Chris Davis, Chief Marketing Officer at New Balance. “Both New Balance and Stone Island are independently minded brands with strong aptitudes for calculated risk taking. We both pride ourselves on having our fingers on the pulse of culture, elevating our rich heritage and creating authentic brand experiences for our global consumers. We look forward to pushing the boundaries and experimenting with design.”

Each brand has strong family roots and a robust heritage, and will open their respective doors to deeper research and experimentation with the aim of collaborating on exciting product innovations.

Issey Miyake launches Menswear label: IM Men

Issey Miyake launches Menswear label: IM Men

Issey Miyake has announced the launch of a new menswear label. With this, the designer will be rebranding its store in Tokyo’s Aoyama district to be the physical retailer for the launch. The new line named IM Men, will debut at the dedicated Aoyama store this week, and will rollout to other stores later this month.

Reflecting on evolving lifestyles, the brand creates original clothing made for everyday living that resonate with qualities found in products essential to our modern lives: practicality and the beauty of functionality. The brand develops the research work of 132 5. ISSEY MIYAKE since 2010 on recycled materials and geometric garment constructions. It integrates new ideas and experimental processes, thereby making clothing of ease and comfort that bring about a sense of joy and new discoveries in everyday living.

The Woolmark Company announces winners of Performance Challenge

The Woolmark Company announces winners of Performance Challenge

The Woolmark Company has announced the winners of its annual Performance Challenge, which aims to find product solutions for the sports and performance market, using merino wool.

This year, the company teamed up with technical outdoor brand Helly Hansen for the challenge, which invited participants to create apparel for ocean racing and the harsh and demanding landscape in which it is often performed.

From 352 entries, three winners were announced: Carly Conduff, from the University of Oregon, the US, was awarded a three-month paid internship with Helly Hansen. Conduff created a system of apparel under the athlete’s dry suit specifically tailored to the female body, providing superior support, strategic insulation, and light protection using 100 percent Merino wool.

Machine-A x Institute of Digital Fashion launch augmented reality boutique

Machine-A x Institute of Digital Fashion launch augmented reality boutique

Machine-A, the London-based concept store and the Institute of Digital Fashion are using augmented reality to recreate a store environment to emphasise the in-store experience which has been lost amid the pandemic over the last year.

The virtual reality store will promote London Fashion Week designers and will allow visitors to experience the collections at a social distance. The virtual store also features unfinished works and personal messages from each designer explaining the inspiration behind each product.

“The concept was built from the core values of IoDF; we wanted to elevate the work using new digital technologies to present future fashions in IRL and URL. Using AR, we have simulated a fashion environment to showcase the designers work. We are democratising the fashion landscape whilst supporting London-based talent in the wake of Brexit and COVID-19.” – Catty Tay, IoDF Co-Founder