Latest news with #Prada-owned
Fashion United
20 hours ago
- Business
- Fashion United
Everbloom partners with leading mills, raises 8 million dollars to bring protein-waste to luxury supply chains
After seven years of quiet development, textile start-up Everbloom has stepped into the spotlight with the launch of its proprietary protein-based fibres, positioning itself as a direct alternative to cashmere and wool. With 8 million dollars in total funding under its belt, propelling it from concept to commercialisation, the New York-based company has pioneered a process that transforms pre-consumer protein waste into luxury-grade fibres that rival the softness and strength of their natural counterparts. Unlike traditional textile recycling, Everbloom, founded by third-generation textile entrepreneur Simardev Gulati and polymer scientist Michael Jaffe, operates a patented method to regenerate proteins at a molecular level, allowing fibres to be fine-tuned for softness, durability and moisture regulation. 'Traditional natural fibre recycling produces fibres that are short staple length and have inferior mechanical and aesthetic properties – our fibres do not,' Gulati, who also serves as CEO, told FashionUnited in an interview. 'We're able to tune our fibre to the desired properties.' In comparison to wool or cashmere, Everbloom's fibres, though still undergoing testing and optimisation, have produced 'quite favourable' results on the necessary properties, Gulati noted. The aim, however, is not to necessarily replace such materials, but instead supplement and work intimately with wool and cashmere, as well as other standalone fibres. 'Because of the uniqueness of our fibre, we see brands creating new markets, using wool and cashmere in new and novel ways,' Gulati added. Everbloom debuts with Prada-owned mill and co-develops with luxury houses To underline its positioning, Everbloom is debuting with leading mills in the industry, including Filati Biagioli Modesto, partly owned by Prada and Zegna, and is also co-developing fibres with luxury houses to meet stringent quality standards. 'This combination of strict criteria and traditional craftsmanship allows us to set the bar high from the outset,' Gulati said. 'Our team's strong scientific background, paired with direct feedback from these luxury partners has been invaluable in fine-tuning the materials during its early commercialisation.' Everbloom co-founder and CEO, Simardev Gulati. Credits: Everbloom. The challenge in this respect is to ensure the longevity of fibre integration among luxury brands, which have occasionally been accused of using sustainability initiatives without meaningful, long-term adoption. Gulati points out that, 'until now', there have been few innovative material companies that have been able to provide material at scale. 'From the outset, we involve [luxury brands'] product development and sustainability teams directly in the co-creation process with brands and mills, ensuring the fibre is tested, refined and integrated into products that align with their long-term strategies,' Gulati elaborated. 'These early-stage collaborations build the foundation for scale, so by the time the fibre reaches commercial readiness, the brand already has a clear pathway for adoption across collections,' he added. 'The goal of Everbloom, the brands and the mills is not a one-off capsule, but embedding the material into their core offering.' In order to achieve such a feat, the operational and cost trajectory of Everbloom is also important. As a young company, costs are naturally on the higher side. 'However, we have a direct and accelerated path to being cost-competitive with traditional wool and cashmere,' Gulati noted. Such a vision is imperative on the path to expansion, which has been a pain point for next-gen textile innovators, who often lack the long-term financial support from retailers and brands. Everbloom campaign imagery. Credits: Everbloom. 'I think it goes back to having scalable cost effective options,' Gulati said, when asked about the obstacles stopping brands from switching to regenerative fibres. 'The fashion, textile industry is a mature industry – we successfully clothe eight billion people per year three times a day with waste. It's incredible. We just need to be able to do it in a way that economically incentivises brands and mills to adopt the material. We aim to do that.' Post-consumer protein market on the rise as regenerative qualities motivate investment In the present day, the accessibility of post-consumer protein waste does make Everbloom's business model viable. The specific market itself is estimated at more than 20 billion pounds annually, and is growing at an 8 percent CAGR. To ensure there is a reliable and steady stream of protein waste, and to avoid any fluctuations that may occur, Gulati said the company had signed an off-take agreement with suppliers that can provide a 'meaningful amount' of the product. He continued: 'In addition, many vertically integrated brands are eager to make use of their waste, especially given the fact that waste accumulated through the fibre, yarn and garment-making process amounts to 30 percent. Our supply and feedstock are abundant and global.' Motivation for brands to get involved in Everbloom's innovation is largely driven by the more sustainable qualities its fibre offers. According to the company, the regenerative material requires 99 percent less land and water and generates 80 percent fewer greenhouse gas emissions than traditional wool or cashmere. Such perimetres allows any potential partners to align more closely with incoming regulation and legislation in regards to a brand's environmental impact. Everbloom product imagery. Credits: Everbloom. 'Government regulation and incentives can help accelerate innovation. Recently, regulation in the EU was passed preventing fashion companies from disposing or burning their waste, which accounts for 30 percent of production,' Gulati noted. It is thus fitting that Everbloom's supply chain is currently geared towards the European market. Moving dependence away from resource-intensive supply chains and seasonal limitations In addition to this, the company also claims to help eliminate dependence on seasonal yields and geographically limited resources like sheep or goats. It also shifts the heavy reliance on cashmere and wool sourcing from 'resource-intensive supply chains in Mongolia, China or New Zealand', a press release noted. 'The company repurposes discarded proteins from existing supply chains, enabling local, US- and Italy-based fibre production with vastly improved economics and climate outcomes,' the company summarised. As Everbloom scales, Gulati said it would continue to evaluate how to adapt to different regions and business models. 'As we grow, we see a clear path to bringing this sustainable fibre to more accessible markets by diversifying its specifications for different applications, all while maintaining the same uncompromising quality at its core,' he commented. Such growth will be bolstered by Everbloom's 8 million dollars in funding to date, led by Hoxton Ventures, SOSV, Tuesday Capital and other investors. With this, the company can build on its partnership portfolio with various fashion brands, while also moving towards financial self-succiency, which Gulati said helps to build the business in a sustainable way and allows it to continue investing in R&D. As Everbloom enters its next phase of growth, the company is set to collaborate with 'iconic and influential fashion houses' on collections that integrate its proprietary fibre. The names of these partners have not yet been publicly revealed, yet Everbloom says the collaborations are already in motion, with official announcements expected in the coming months.
Yahoo
14-06-2025
- Entertainment
- Yahoo
Luxury Retail Still Prevails on Mount Street
LONDON — In Mayfair, retail is bucking the luxury slowdown. Grosvenor, which owns prime retail property across London, is strategizing to keep the momentum going this summer with the Mount Street Neighbourhood Summer Festival as it celebrates the neighborhood's fashion, food and art offerings. More from WWD Franz Kraler to Open Luxury Ski-slope Chalet in Cortina d'Ampezzo Five Modes Boutiques Reopen Under New Italian Company Jewelry Brand Vickisarge Gets the Val Garland Makeover The crown jewels of the Mount Street Neighbourhood include diamond jeweler Jessica McCormack, the luxury hotel The Connaught, fashion designer Huishan Zhang, the Prada-owned patisserie Marchesi and the restaurant Hideaway. There's also openings taking place this summer from chocolatier Barnaby, perfume brand Fueguia 1833 and celebrity facialist and aesthetician Melanie Grant. 'After COVID-19, Mount Street came out of the block so strongly mainly because we'd cemented it as a neighborhood and we've made the strategic decision to really widen that tenant mix that's less dominated by fashion,' said Joanna Lea, Mayfair retail portfolio director at Grosvenor. Grosvenor has brought a set of consultants onboard to better understand the neighborhood's clientele, which makes up 5 to 10 percent of the world's global wealth. The Mount Street Neighborhood has been rebranding itself image-wise and on social media since October, around the same time that Frieze London kicked off. The neighborhood is being treated like a set of sails that reacts to the winds, in this case the cultural events taking place in and out of the city, from BST Hyde Park, Royal Ascot, the RCA Summer Exhibition to the Wimbledon Championships. The English pub the Audley Public House will be hosting 'A Week of Wimbledon' in July, serving up strawberries and cream with Pimm's and Wimbledon Martinis, but the beer on tap will stay put. 'When we think about programming Mount Street, we don't operate like a normal shopping neighborhood and think about Mother's Day or Easter, but instead it's about thinking about an international high-net-worth calendar,' said Lea, adding that they also take national holidays such as Saudi National Day and Fourth of July. American and Middle Eastern customers are the top spenders on Mount Street and it's a clientele that Grosvenor caters to carefully by vetting any newcomers into the neighborhood. 'No brand will come to the estate without us having met them. Ultimately, it's a people business and we want to do deals with great people because experience tells us that pays us dividends over the long term,' said Lea. Even though the luxury slowdown hasn't hit the Mount Street Neighborhood directly, luxury brands that are signing up for spaces in the neighborhood are taking a cautious approach by bidding on smaller units to test the waters before upgrading to larger spaces in the long run. Best of WWD Macy's Is Closing 66 Stores in 2025 — Here's the List, Live Updates Inside the Demise of Lord & Taylor COVID-19 Spikes Elevate Retail Concerns Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Express Tribune
14-03-2025
- Entertainment
- Express Tribune
Donatella Versace Steps Down as Creative Director of Versace After 28 Years
After almost three decades at the helm, Donatella Versace has announced that she is stepping down as the creative director of Versace, marking the end of an era for the iconic Italian fashion house. This announcement, made on Thursday, concludes a remarkable 28-year-long journey in which Donatella not only carried on the legacy of her late brother, Gianni Versace, but also became a global fashion icon in her own right. Donatella, 69, took on the role of leading the luxury brand after Gianni Versace was tragically murdered outside his Miami Beach mansion in 1997. Despite having no formal background in fashion or design, she quickly became the face of the Versace brand, her vision and fierce dedication shaping the company into what it is today. Through the years, Donatella made history with bold and unforgettable runway shows that showcased some of the most legendary models in fashion, including Naomi Campbell and Cindy Crawford. Donatella Versace walks her SS18 with supermodels Carla Bruni Sarkozy, Claudia Schiffer, Naomi Campbell, Cindy Crawford and Helena Christensen in September 2017. Her platinum-blond hair and the unforgettable glam of the brand's runway shows became as emblematic of Versace as its gold, mythological logo. "It has been the greatest honor of my life to carry on my brother Gianni's legacy," Donatella wrote in an emotional Instagram post. "He was the true genius, but I hope I have some of his spirit and tenacity." Over her tenure, she was not only responsible for continuing Gianni's revolutionary vision but for ensuring that Versace remained at the forefront of the fashion world. Emmanuel Gintzburger, CEO of Versace and its parent company Capri Holdings, spoke to Donatella's lasting influence. "Versace is what it is today because of Donatella Versace and the passion she has brought to her role every day for nearly thirty years," he said. In a significant shift for the brand, Dario Vitale has been appointed as the new chief creative officer, marking the first time in the history of Versace that the role has been filled outside the family. Vitale, who begins his new role on April 1, comes to Versace after a successful career at Prada-owned Miu Miu, where he was most recently the design and image director. His arrival comes as the luxury fashion world anticipates a $1.6 billion deal that could see the Prada Group acquire Versace from Capri Holdings, bringing Vitale back into the Prada fold. In another statement, Donatella shared a look back at some her of her most iconic moments with the brand. She captioned the post, "I hope I've made you proud so far 💜." Looking ahead, Donatella expressed her excitement for what's to come. "Championing the next generation of designers has always been important to me," she added, thanking the company's design studio and employees. "I am thrilled that Dario Vitale will be joining us, and excited to see Versace through new eyes." Donatella and Gianni Versace in their Milan home. Photo by © Stephanie Maze/CORBIS/Corbis via Getty Images. As the fashion house enters a new chapter, Donatella Versace leaves behind an indelible mark on the luxury fashion industry, having not only preserved her brother's legacy but also built one of her own.
CNN
13-03-2025
- Business
- CNN
Donatella Versace steps down as chief creative officer after 28 years
After strutting a confident Versace collection at Milan Fashion Week in February that referenced many of the brand's signature emblems, including the Medusa, Barocco and Greca, Donatella Versace took a bow. Many observers had wondered if it would be Donatella Versace's last in her position as chief creative officer, a role she has held for almost three decades, amid speculation of a potential sale of the Versace company from its current owner to the Prada group. On Thursday, Versace confirmed to CNN that Donatella Versace, 69, would transition to the newly created role of chief brand ambassador, in which she would 'dedicate herself to the support of Versace's philanthropic and charitable endeavors' while also remaining 'an advocate for the brand globally,' according to an emailed statement. In tandem, Dario Vitale has been named as the brand's chief creative officer, marking the first time that the designer role has been filled outside of the family. (Donatella Versace stepped into the position in 1997, taking over the label founded by her late brother Gianni, who died that year.) 'It has been the greatest honor of my life to carry on my brother Gianni's legacy. He was the true genius, but I hope I have some of his spirit and tenacity,' said Donatella Versace in an emailed statement. 'In my new role, I will remain Versace's most passionate supporter. Versace is in my DNA and always in my heart.' 'Championing the next generation of designers has always been important to me,' Donatella Versace added, thanking the company's design studio and employees. 'I am thrilled that Dario Vitale will be joining us, and excited to see Versace through new eyes.' Prev Next Vitale, who starts at Versace on April 1, joins from Prada-owned Miu Miu, where he was most recently design and image director — a post that he left in January. Vitale's appointment comes as the Prada group edges closer to buying Versace from US-based Capri Holdings in a $1.6 billion deal, a move that would bring him back into the Prada fold. Emmanuel Gintzburger, Versace's CEO since 2022, called Vitale 'a rare talent, who deeply respects the essence and values of Versace and clearly understands its growth potential.' Capri Holdings chairman and CEO John D. Idol echoed that sentiment, adding that 'today's announcements were part of a thoughtful succession plan for Versace.' Idol noted that Vitale was 'a strong design leader' and that 'we are confident that his talent and vision will be instrumental to Versace's future growth.' Related video Donatella Versace: A fashion icon ft. Lady Gaga Capri, which also owns Michael Kors and Jimmy Choo, has been re-evaluating its portfolio after an $8.5 billion deal to merge with Tapestry, owner of Coach, Kate Spade and Stuart Weitzman, was blocked by the US Federal Trade Commission last year.
CNN
13-03-2025
- Business
- CNN
Donatella Versace steps down as chief creative officer after 28 years
After strutting a confident Versace collection at Milan Fashion Week in February that referenced many of the brand's signature emblems, including the Medusa, Barocco and Greca, Donatella Versace took a bow. Many observers had wondered if it would be Donatella Versace's last in her position as chief creative officer, a role she has held for almost three decades, amid speculation of a potential sale of the Versace company from its current owner to the Prada group. On Thursday, Versace confirmed to CNN that Donatella Versace, 69, would transition to the newly created role of chief brand ambassador, in which she would 'dedicate herself to the support of Versace's philanthropic and charitable endeavors' while also remaining 'an advocate for the brand globally,' according to an emailed statement. In tandem, Dario Vitale has been named as the brand's chief creative officer, marking the first time that the designer role has been filled outside of the family. (Donatella Versace stepped into the position in 1997, taking over the label founded by her late brother Gianni, who died that year.) 'It has been the greatest honor of my life to carry on my brother Gianni's legacy. He was the true genius, but I hope I have some of his spirit and tenacity,' said Donatella Versace in an emailed statement. 'In my new role, I will remain Versace's most passionate supporter. Versace is in my DNA and always in my heart.' 'Championing the next generation of designers has always been important to me,' Donatella Versace added, thanking the company's design studio and employees. 'I am thrilled that Dario Vitale will be joining us, and excited to see Versace through new eyes.' Vitale, who starts at Versace on April 1, joins from Prada-owned Miu Miu, where he was most recently design and image director — a post that he left in January. Vitale's appointment comes as the Prada group edges closer to buying Versace from US-based Capri Holdings in a $1.6 billion deal, a move that would bring him back into the Prada fold. Related video Donatella Versace: A fashion icon ft. Lady Gaga Emmanuel Gintzburger, Versace's CEO since 2022, called Vitale 'a rare talent, who deeply respects the essence and values of Versace and clearly understands its growth potential.' Capri Holdings chairman and CEO John D. Idol echoed that sentiment, adding that 'today's announcements were part of a thoughtful succession plan for Versace.' Idol noted that Vitale was 'a strong design leader' and that 'we are confident that his talent and vision will be instrumental to Versace's future growth.' Capri, which also owns Michael Kors and Jimmy Choo, has been re-evaluating its portfolio after an $8.5 billion deal to merge with Tapestry, owner of Coach, Kate Spade and Stuart Weitzman, was blocked by the US Federal Trade Commission last year.
