Kering Invests in Bag-Rental Firm Cocoon as Interest Grows in Circularity
24 Giugno 2021 - 11:46AM
Dow Jones News
By Joshua Kirby
Kering said Thursday that it has invested in U.K. handbag-rental
company Cocoon, as the French luxury-goods group furthers its
interest in circular fashion.
Cocoon has attracted total investment of 2.5 million pounds
($3.5 million) following the completion of its latest funding
round, which saw participation from secondhand-fashion app Depop's
founder Simon Beckerman, as well as Kering.
The company offers a subscription service that allows users to
rent bags from brands including Kering's Gucci, as well as Prada
SpA. Membership has more than tripled since April last year, Cocoon
said in a release.
Kering's investment follows its taking of a small stake in
French luxury-resale platform Vestiaire Collective earlier this
year. Analysts at the time said the move showed a thawing of
previously frosty attitudes toward secondhand fashion on the part
of luxury brands.
Kering's strategy aims to identify potentially disruptive trends
in the luxury-fashion sector, said Gregory Boutte, Kering's chief
client and digital officer.
"As part of this strategy, Kering, through its ventures arm,
takes minority stakes in services and technologies for the next
generation of luxury consumers. This investment in Cocoon will
enable us to monitor new consumption habits and digital practices,"
Mr. Boutte said. Subscription models are "very interesting," and
resonate with shifts toward circularity, he added.
Write to Joshua Kirby at joshua.kirby@wsj.com;
@joshualeokirby
(END) Dow Jones Newswires
June 24, 2021 05:36 ET (09:36 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Grafico Azioni Kering (EU:KER)
Storico
Da Feb 2024 a Mar 2024
Grafico Azioni Kering (EU:KER)
Storico
Da Mar 2023 a Mar 2024