Is "Vegan Style" Sought After? The Company that Used "Mushrooms" to Make Bags for Hermes Received Hundreds of Millions of Dollars in Financing
Apr 20 , 2022
Nowadays, fashion consumers have increasingly linked the two terms "fashion and environmental protection". The survey shows that the carbon emissions produced by the fashion industry account for more than 8% of the global carbon emissions, which is higher than that of the aviation industry. The two industries combined with the shipping industry are more - the non-profit organization Global Fashion Agenda once pointed out in a report "Fashion Industry's Climate Impact" in cooperation with McKinsey & Company that the fashion industry needs to reduce carbon by half by 2030. emissions in order to achieve the goals set by the Paris Climate Agreement.
In 2018, the fashion industry released the "Fashion Industry Climate Action Charter" at the Katowice Climate Change Conference in Poland, expecting the industry to achieve the vision of net zero emissions by 2050 Facing the ever-increasing environmental pressure, the fashion industry needs to consider more plans for industrial upgrading. The chief sustainable development officer of Kering Group once said in his speech: "Organic cotton, organic wool, sustainable cashmere - can only reduce by 20%. % carbon footprint. If we need to achieve the 40% emission reduction target, we must find disruptive material innovations.” For the high-end fashion industry, mining “next-generation materials” has become an increasingly urgent corporate responsibility. The goal.

In addition, the rise of vegan leather has an important relationship with the growing emphasis on animal welfare in the fashion industry. The growing demand for "animal-free ingredients" from the beginning of this century has spread to a large number of brands we are familiar with. Stella McCartney has sold "animal-free" products since its inception in 2001; in 2017, Gucci took the lead in banning other Kering brands from using fur, and began with its 2018 Spring/Summer collection to deliver on its fur-free commitment In 2018, Chanel announced that the brand would ban the use of animal skins and rare animal skins such as crocodiles, lizards and snakes in its product line, and in recent days, Moncler and Dolce & Gabbana have also announced their participation in the "zero fur" movement.

Because of this, in many "next-generation materials" categories including leather and silk, material research and development companies, investment institutions, scientific researchers and fashion brands have focused their attention on leather substitutes. The material replaces leather and has become a more high-end option.

Hermès vegan version of the Victorian classic bag

Not long ago, MycoWorks, a biomaterials startup best known for the vegan version of the Victoria Travel Bag, the first vegan version of the classic Victorian handbag launched in collaboration with Hermès in the spring of 2021, announced that it has received $125 million in Series C financing, even the fifth generation of Chanel. Mirabaud Lifestyle Impact & Innovation Fund, the fund founded by David Wertheimer, also participated in this round of investment, showing the commercial value of the company's patented process fine mycelium named "Reishi™". more investors are concerned.

So far, MycoWorks, which focuses on the luxury sector, has received thousands of cooperation requests from various fashion brands and has signed contracts with many major luxury brands around the world. Matt Scullin, CEO of MycoWorks, said, "Cite any one The luxury brands you are familiar with, MycoWorks may have already reached a cooperation with them.” Of course, being able to obtain 125 million US dollars in Series C financing is inseparable from its control of product quality and its potential for scale.

Hermès vegan version of the Victorian classic bag in early 2021 with technology from MycoWorks According to the brand profile, Reishi™ is a plastic and animal-free leather alternative, rapidly cultivated from mycelium (mushroom cells) and agricultural by-products, and after 12 years of research and development, this mycelium has The brand customizes leather substitute materials of different thicknesses, weights and textures, and the cultivation process is highly controllable, enabling large-scale production of products with uniform specifications. Its platform also provides traceability for brand supply chains, further reducing waste and greatly improving sustainability, making it a biomaterial with great potential.

Gucci's innovative animal-free luxury material

Gucci's innovative animal-free luxury material, Demetra, is used in sneakers According to the incomplete statistics of Yuanqi Capital, there are currently 6 major players in the vegan leather track globally, and some fashion brands have also begun to develop leather substitutes, such as Gucci in 2021. Its self-developed vegan leather Demetra is used in three sneakers, including the Gucci New Ace released in June 2009. It may not be long before these pieces made from leather from mushrooms will become the hottest fashion items around us.
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