Chanel buys minority stake in green tech firm Evolved by Nature
Chanel has purchased a minority stake in Evolved by Nature a “green tech” company aiming to replace toxic chemicals used in the supply chain with silk.
The high-end fashion retailer has purchased an undisclosed stake in the startup in an effort to distance itself from the growing sustainability concerns in the fashion sector.
Evolved by Nature has developed a natural silk-based alternative to the harsh and damaging chemicals traditionally used to create high performing clothing materials.
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Its tech offers nearly the same results by manipulating liquified silk proteins, allowing it to enhance the performance characteristics of nylon, polyester and cashmere.
Chanel’s investment will reportedly be used to explore new ways to manipulate the silk molecules to enhance its performance look and feel, aiming to “completely replace the need for many undisclosed synthetic chemicals.”
“At a time of unprecedented social, economic, and environmental transformation, we think we have to continue to step up our ambitions and commitments,” Chanel said last year.
“We can be a positive force for change in the world and contribute to transforming lives and societies.”