Latest news with #NeverOld
Fashion Network
11 hours ago
- Business
- Fashion Network
Chanel launches Nevold B2B circularity hub
Chanel said Monday that it's 'reinforcing its commitment to the responsible transformation of the fashion and luxury industry' with the launch of Nevold, an 'independent and open entity designed to develop concrete solutions for circularity'. See catwalk It's a bold move for the business and sees it taking a leadership role on a subject that's squarely in the headlights of both regulators and eco-conscious consumers. Chanel said that for several years now, it's been prioritising the reduction of its carbon footprint, as well as amplifying its societal impact, and 'today, this ambition is accelerating in the face of a shared observation: the scarcity of high-quality, traceable virgin raw materials calls for a collective response from all industry players'. Nevold (a contraction of Never Old) is a 'B2B hub bringing together an ecosystem of companies, start-ups and academic partners around a common goal: to invent, produce and structure the materials of tomorrow, incorporating recycled fibres all while meeting the criteria of excellence in luxury'. It's fully independent of Chanel itself (which is key as it reaches out to other businesses) and already includes L'Atelier des Matières, Filatures du Parc and Authentic Material. Chanel said these are three players 'committed to re-establishing the value of textiles and leathers' and that Nevold 'intends to open up to new acquisitions and develop partnerships with alternative sectors, particularly sports and hospitality, to guarantee a second life for those noble materials – leather, wool, silk, cotton and cashmere – that no longer meet the requirements of the luxury market'. It's a big move for the company and it's clearly not exagerrating when it says Nevold is 'part of a profound transformation process that is rethinking the entire product lifecycle, developing new savoir-faire and professions — such as that of 'recycling agent' - and contributing to a more circular economy'. Former House of Patou exec Sophie Brocart is at the helm of Nevold with Chanel saying she's a trained engineer and is 'renowned for her expertise and pioneering approach to sustainable innovation'. She began the role under the radar in January. It's all very interesting, especially in a world where old-style solutions to fashion sector waste and resource scarcity simply aren't acceptable (think of the furore surrounding news that Burberry was burning unsold stock a few years ago). A number of companies are working on various ways to address the problem with creative solutions such as Coach 's Coachtopia line having been embraced by consumers. It will be intriguing to see how Nevold develops in the months and year ahead.
Fashion Network
11 hours ago
- Business
- Fashion Network
Chanel launches Nevold B2B circularity hub
Chanel said Monday that it's 'reinforcing its commitment to the responsible transformation of the fashion and luxury industry' with the launch of Nevold, an 'independent and open entity designed to develop concrete solutions for circularity'. See catwalk It's a bold move for the business and sees it taking a leadership role on a subject that's squarely in the headlights of both regulators and eco-conscious consumers. Chanel said that for several years now, it's been prioritising the reduction of its carbon footprint, as well as amplifying its societal impact, and 'today, this ambition is accelerating in the face of a shared observation: the scarcity of high-quality, traceable virgin raw materials calls for a collective response from all industry players'. Nevold (a contraction of Never Old) is a 'B2B hub bringing together an ecosystem of companies, start-ups and academic partners around a common goal: to invent, produce and structure the materials of tomorrow, incorporating recycled fibres all while meeting the criteria of excellence in luxury'. It's fully independent of Chanel itself (which is key as it reaches out to other businesses) and already includes L'Atelier des Matières, Filatures du Parc and Authentic Material. Chanel said these are three players 'committed to re-establishing the value of textiles and leathers' and that Nevold 'intends to open up to new acquisitions and develop partnerships with alternative sectors, particularly sports and hospitality, to guarantee a second life for those noble materials – leather, wool, silk, cotton and cashmere – that no longer meet the requirements of the luxury market'. It's a big move for the company and it's clearly not exagerrating when it says Nevold is 'part of a profound transformation process that is rethinking the entire product lifecycle, developing new savoir-faire and professions — such as that of 'recycling agent' - and contributing to a more circular economy'. Former House of Patou exec Sophie Brocart is at the helm of Nevold with Chanel saying she's a trained engineer and is 'renowned for her expertise and pioneering approach to sustainable innovation'. She began the role under the radar in January. It's all very interesting, especially in a world where old-style solutions to fashion sector waste and resource scarcity simply aren't acceptable (think of the furore surrounding news that Burberry was burning unsold stock a few years ago). A number of companies are working on various ways to address the problem with creative solutions such as Coach 's Coachtopia line having been embraced by consumers. It will be intriguing to see how Nevold develops in the months and year ahead.
