×
60 048
Fashion Jobs
GAP INC.
Asset Protection Coordinator - la West
Permanent · Los Angeles
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Clinton Crossing Premium Outlet
Permanent · Clinton
GILLY HICKS STORES
Gilly Hicks - Manager in Training, Natick
Permanent · Natick
AESOP
Full Time Retail Consultant | Aesop nw 23rd
Permanent · Portland
CORPORATE
Senior Legal Counsel
Permanent · Irving
NEIMAN MARCUS
sr. Restaurant General Manager, $1,000 Sign-on Bonus - Bal Harbour
Permanent · Bal Harbour
NEIMAN MARCUS
Group Sales Manager - Palo Alto
Permanent · Palo Alto
TALENT
District Manager, Madewell
Permanent · Atlanta
COTY
Commercial Finance Analyst, fp&a
Permanent · Miami
JCPENNEY CAREERS 2018
Merchandise Planner - Women's Apparel
Permanent · Plano
MARC JACOB'S
Sales Supervisor
Permanent · Los Angeles
MARC JACOB'S
Sales Supervisor
Permanent · Chandler
ESTEE LAUDER
Director, Global Marketing Skincare
Permanent · New York
NORDSTROM
Asset Protection Agent - Canyon Springs Rack (Riverside, ca)
Permanent · Riverside
PUMA
Junior Manager, Marketing - Ecomm (CRM/Sms)
Permanent · Somerville
CENTRIC BRANDS
Manager, Sales Operations
Permanent · New York
LULULEMON
Assistant Manager, Operations | Southport, Chicago
Permanent · Chicago
DISTRIBUTION CENTERS
Studio Coordinator
Permanent · Dallas
OLD NAVY
District Manager - Kansas City
Permanent · San Francisco
OLD NAVY
District Manager - Kansas City
Permanent · Kansas City
OLD NAVY
General Manager - Shoppes at Gilbert
Permanent · Gilbert
OLD NAVY
Asset Protection Service Representative - Upper Darby
Permanent · Upper Darby
By
Reuters API
Published
Jun 30, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Chanel-backed 'activated silk' firm adds new investors

By
Reuters API
Published
Jun 30, 2022

Evolved By Nature, a biotech firm backed by French fashion company Chanel, said on Thursday it has raised $120 million in a financing round, adding new investors including one of Canada's biggest pension funds.

Chanel - Fall-Winter2022 - Womenswear - Paris - © PixelFormula


The Massachusetts-based firm, founded in 2013, plans to use the late-stage funding to step up production of a silk protein alternative to petrochemicals in skincare and fabrics.

Evolved By Nature bills its "activated silk" product as natural protein from silkworm cocoons, in liquid form.

Fashion companies are scrambling to improve their environmental track records in order to meet U.N. sustainable development goals, according to a recent report by Business of Fashion. read more

Evolved By Nature makes biodegradable coatings used in luxury handbags and fast-fashion apparel including sports bras and underwear, selling to leather tanneries, fabric mills and fashion labels like Anya Hindmarch.

The coatings are expected to generate 30% of its sales by the end of 2024. Coatings on leather serve as waterproofing, while treatments for polyester and nylon serve to wick moisture.

"The consumer is catching on to petrochemical-free skincare," Greg Altman, co-founder and chief executive officer of Evolved By Nature, told Reuters.

"We went after the largest-volume fabric produced – and how do we get chemical coatings off of the fabric," he said, explaining the focus on polyester and nylon.

While tanners and brands in the leather industry are jointly seeking to develop natural products, they can be a harder sell to the textiles industry, said Altman.

"In textiles, the conversation is about performance and price and not about sustainability," he said. "We have to price competitively to petrochemicals."

On skincare, which will make up the bulk of revenues, the company plans to develop products to sell directly to consumers later this year, in addition to sales to large consumer products groups, Altman said.

The funding round was led by the Ontario Teachers' Pension Plan Board and Senator Investment Group. Other backers include Chanel and the private Chanel-linked investment firm Mousse Partners as well as U.S. investor Jeffrey Vinik, who previously managed the Fidelity Magellan Fund.

© Thomson Reuters 2022 All rights reserved.