Luxury fashion house, Chanel, unveils Nevold - a high-end textile recycling initiative.
Straight-Up Sustainable: Chanel's Fresh Approach to Luxury Fashion
The high-end fashion empire, Chanel, is shaking things up with its latest venture, Nevold. This innovative spin-off focuses on the production, research, and development of circular materials, marking a game-changing stride for the luxury brand.
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Enter Sophie Brocart, the ex-CEO of Patou, who recently joined Chanel's ranks in January. As the force behind Nevold, her mission is to boost the usage of circular textiles for not only Chanel's collections but also for external parties.
According to WWD, Chanel's initial investment in Nevold ranges from 50 to 80 million euros. The company's foundation will rely on existing Chanel investments, such as L'Atelier des Matières (an internal recycling lab that transforms luxury waste into reusable materials), Filatures du Parc (a family-owned spinning mill), and Authentic Material (a French company skilled in leather recycling).
Nevold stands out as a vital player addressing issues like the scarcity of high-quality, traceable fibers, as well as waste within the fashion industry – particularly luxury fashion. Moreover, its ambition to enter the realm of circular fashion and create new materials rings a noteworthy bell.
When speaking to Vogue Business, Pavlovsky, Chanel's fashion division president, shared, "We asked what happens to the materials that don't make it into a final product or reach the end of their first life." He went on to explain, "At Chanel, we didn't destroy unsold products. But we still didn't have a real system to understand their full potential. Nevold is that system."
With Nevold, Chanel aspires to establish itself as an industrial powerhouse in the development of recycled materials. The company will predominantly operate under a B2B (business-to-business) model, allowing it to team up with other brands like French sportswear retailer Decathlon, alongside Chanel. In fact, Nevold has already kicked off a collaboration with Decathlon and has two innovations at the ready for the fashion market: a unique thread made from a combo of virgin and recycled fibers, and recycled leather material that's already integrated into 30% of Chanel's bags and 50% of its shoes.
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Enrichment Data:
🔹Nevold stands as a circular materials hub within the luxury fashion sector, built to advance sustainability efforts and promote circularity in fashion production and waste management[1][3][4][5].
🔹The venture's primary focus is on recycling luxury materials, addressing excess inventory and production waste by establishing a closed-loop system that reduces environmental impact and supports sustainable fashion[4][3].
🔹Sophie Brocart, the former CEO of Patou, has been appointed to lead Nevold and drive its sustainability initiatives. Chanel has made a substantial investment in Nevold, with reported figures between €50 million and €80 million reflecting a significant corporate commitment to circularity[5][1].
🔹Nevold operates as a platform serving business-to-business relationships, implying partnerships or collaborations with other players in the fashion and recycling industries to scale circular material solutions[3][1]. Overall, Nevold represents Chanel's strategic move into the recycling and circular materials sector, signaling a deep commitment to sustainable luxury fashion by integrating circular economy principles through innovation, investment, and leadership[1][4][5].
Chanel's ambition with Nevold extends beyond luxury fashion, aiming to make significant strides in the areas of finance and business by investing 50 to 80 million euros in the venture. Furthermore, the collaboration with Decathlon and the development of recycled materials like a unique thread and recycled leather demonstrate the venture's potential impact on fashion-and-beauty industries.
