The participation of the United States tapestries in Gen Phoenix at 9.9%, signature of 3 years

Gen Phoenix, a manufacturer of sustainable recyclable fiber materials of large -scale leader, today announced a new chapter of his current partnership with Tapestry, Inc. (Nyse: TPR), the house of iconic brands including coach, Kate Spade and Stuart Weitzman. The partnership includes a three -year contractual supply agreement, together with an increase in investments by tapestries as part of the 15 million dollars of Geno Phoenix series led by the risk capital company, Material Impact. As part of the round, Tapestry has increased its share participation in Gen Phoenix to 9.9%, almost quadrupling its initial investment of 2023.

Tapestry has increased its shareholding in Gen Phoenix at 9.9 percent, almost quadrupling its initial investment of 2023. The expanded partnership includes a three -year supply agreement and supports the financing round of $ 15 million Gen Phoenix. It aims to reduce circular skin innovation, strengthen sustainable supply chains and satisfy the demand for new generation and eco-content materials.

This multifaceted partnership consolidates the role of Gen Phoenix as a partner of basic material innovation for tapestries brands, allowing access to next generation materials on an unprecedented scale and coherence.

“This expanded partnership marks a milestone, not only for Gen Phoenix, but for the future of sustainable materials,” he said John Kennedy, CEO of Gen Phoenix. “Together with Tapestry, we are showing that circular innovation can meet the needs of global brands without going down.

A partnership built by scale, resilience and impact

The partnership between Gen Phoenix and Tapestry-Prima that began in 2022-It has evolved well beyond a typical suppliers report, acting as a project for how brands and material innovators can co-find sustainable solutions. The two companies worked side by side-access to search for research and development, factory floors and the vision of design-for design a material that honors the legacy of the leather tapestries brands for which it extends while extends its life through circular transformation.

“This investment reflects our belief in the power of innovation to guide both the purpose and the profit. The platform of Gen Phoenix allows the circularity on a large -scale, in addition, high quality materials that satisfy the style, performance and impact expectations of today’s consumer,” he said Scott Roe, Chief Financial Officer of Tapestry and Chief Operating Officer. “As a global leader in quality leather skin, we see a significant opportunity to be a catalyst for next generation materials that are consistent with our craft heritage. This partnership strengthens our commitment to guide the fashion industry in sustainable innovation and guarantee a resilient supply chain and ready to the future.”

Feed the future of circular materials with new funding

Tapestry’s latest investments advance both the sustainability of companies and the company objectives:

• For tapestries, it offers resilience of the supply chain, quality performance and alignment with the values of next generation consumers.
• For Gen Phoenix, the collaboration further validates the scalability and commercial potential of its material platform: the purpose can satisfy the three key criteria that count more on the leading brands: price, performance and planet. In other words, provide sustainability without compromising the price or quality.

Through the $ 15 million investment round of Gen Phoenix, the company will be enabled to:

• Expand in new categories and global markets.
• Reduced its production infrastructures in its structure in the United Kingdom, which has a capacity of 60+ million ft² per year.
• It accelerates the research and development and marketing of its completely circular leather solution that integrates post-consumer and end of life waste.

Since the luxury retail brands increasingly embrace a trend that Gen Phoenix calls the “luxcycling”-the use of innovative materials and proprietary production processes to prolong the life of the life of the fashion products and luxury accessories while maintaining the heritage and transformation of the quality-part-part of the luxury luxury luxury.

Note: the title, intuitions and image of this press release may have been perfected by the Fiber2fashion staff; The rest of the content remains unchanged.

Fiber2fashion news desk (hu)