Latest news with #Nevold
Hypebeast
5 hours ago
- Business
- Hypebeast
Chanel Is Entering the Recycling Business
Afterslowing down its price hikesin the wake of declining sales,Chanelhas announced an entirely new business venture: a standalone imprint dedicated to making recycled materials from fabric offcuts, unused textiles, and unsold items at scale. Titled Nevold (short for 'never old'), the entity is led by Sophie Brocart, the former CEO of Patou, who joined the Chanel team in January. Under her leadership, Nevold will become a 'business-to-business open platform' that tackles resource scarcity, as many of luxury's favorite textiles, including cashmere, silk, and leather, face threats from climate change, perBusiness of Fashion. The business also addresses the fashion industry's waste problem, the brunt of which is often placed on fast fashion. Luxury, however, claims a fair share in the damage, with unsold inventory at industry-leading conglomerates like Kering and LVMHclimbing to billions of dollarsover the last decade. 'We started by asking ourselves what happens to the materials that don't make it into a final product, or those that reach the end of their first life,' Bruno Pavlovsky, Chanel's president of fashion, toldVogue Business. 'At Chanel, we didn't destroy unsold products. But we also didn't yet have a real system to understand their full potential. Nevold is that system.' Under the Nevold umbrella, there are three key operations: L'Atelier des Matières, the Chanel-created recycling company that pairs brands with textile waste solutions; Filatures du Parc, the leading European wool spinning mill known for its recycled yarns; and Authentic Material, the French leather recycling imprint. Working in tandem with each company, Chanel's goal is to make Nevold a key component of a 'profound transformation process that is rethinking the entire product lifecycle, developing new savoir-faire and professions… and contributing to a more circular economy,' according to a release. 'It's not about Chanel recovering her waste to do Chanel,' Pavlovsky said toBoF. 'It's Chanel recovering waste from Chanel and from whoever on the market who [is] ready to sell us the waste to recreate a new kind of materials.'
Fashion Network
7 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
7 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
10 hours ago
- Business
- Fashion Network
Chanel launches Nevold B2B circularity hub
Chanel is diving headfirst into sustainability — or more specifically waste management and recycling — with the creation of an independent-of-Chanel B2B hub focused on circularity that will handle unsold stock, fabric offcuts and other unused materials. See catwalk The new entity is called Nevold (that is, 'never old') and is reportedly being headed by Sophie Brocart, the former Patou CEO. As an independent business it will work with other companies and brands and won't only focus on the luxury sector. Ultimately it should be able to produce recycled materials for use in new items. Around 30% of Chanel bags and 50% of Chanel shoes include recycled elements at present and this should increase, as well as its new hub helping other companies to head in the same direction. The company's investment in the project has been estimated at between €50 million and €80 million, trade paper WWD reported. The fashion sector is undeniably the source of a huge amount of waste and it's an issue that isn't only one for fast-fashion producers to solve (even though they're the companies that receive the most criticism on the subject). It's also an issue that puts the wider fashion sector increasingly under the spotlight for both regulators and ever-more-eco-conscious consumers. But as well as aiming to cut down on waste, the industry needs to deal with the problem of resources becoming more scarce due to climate change affecting the locations in which they're produced and work to avoid the huge drain on resources that materials production entails, as well as guaranteeing that those who produce them are treated fairly. Nevold will reportedly address this. Old-style solutions simply aren't acceptable these days (think of the furore surrounding news that Burberry was burning unsold stock a few years ago). And some companies are opting for creative ways to address the problem, such as Coach with its Coachtopia line. Bruno Pavlovsky, president of fashion at Chanel told Vogue Business: 'We started by asking ourselves what happens to the materials that don't make it into a final product, or those that reach the end of their first life. At Chanel, we didn't destroy unsold products. But we also didn't yet have a real system to understand their full potential. Nevold is that system.' It will be interesting to see how Nevold develops in the months and year ahead.
Fashion Network
10 hours ago
- Business
- Fashion Network
Chanel launches Nevold B2B circularity hub
Chanel is diving headfirst into sustainability — or more specifically waste management and recycling — with the creation of an independent-of-Chanel B2B hub focused on circularity that will handle unsold stock, fabric offcuts and other unused materials. See catwalk The new entity is called Nevold (that is, 'never old') and is reportedly being headed by Sophie Brocart, the former Patou CEO. As an independent business it will work with other companies and brands and won't only focus on the luxury sector. Ultimately it should be able to produce recycled materials for use in new items. Around 30% of Chanel bags and 50% of Chanel shoes include recycled elements at present and this should increase, as well as its new hub helping other companies to head in the same direction. The company's investment in the project has been estimated at between €50 million and €80 million, trade paper WWD reported. The fashion sector is undeniably the source of a huge amount of waste and it's an issue that isn't only one for fast-fashion producers to solve (even though they're the companies that receive the most criticism on the subject). It's also an issue that puts the wider fashion sector increasingly under the spotlight for both regulators and ever-more-eco-conscious consumers. But as well as aiming to cut down on waste, the industry needs to deal with the problem of resources becoming more scarce due to climate change affecting the locations in which they're produced and work to avoid the huge drain on resources that materials production entails, as well as guaranteeing that those who produce them are treated fairly. Nevold will reportedly address this. Old-style solutions simply aren't acceptable these days (think of the furore surrounding news that Burberry was burning unsold stock a few years ago). And some companies are opting for creative ways to address the problem, such as Coach with its Coachtopia line. Bruno Pavlovsky, president of fashion at Chanel told Vogue Business: 'We started by asking ourselves what happens to the materials that don't make it into a final product, or those that reach the end of their first life. At Chanel, we didn't destroy unsold products. But we also didn't yet have a real system to understand their full potential. Nevold is that system.' It will be interesting to see how Nevold develops in the months and year ahead.
