Beyond The Limits 4.12.2023

?? Welcome to our newsletter for the week. We have gathered some of the most interesting news and updates from the world of circularity, technology, fashion, and luxury.

?? Sustainable Fashion?

The Italian label Valentino has released its first Sustainability Report, aligning with its commitment to adopting a responsible and ethical approach toward people and the environment. The report, under the umbrella of the sustainability strategy 'Let the Beauty Prosper,' outlines specific targets, achievements, and objectives adhering to the Global Reporting Initiative (GRI) standard. In a joint statement, creative director Pierpaolo Piccioli and CEO Jacopo Venturini emphasized the importance of sustainable development for the Maison de Couture, aiming for resiliency and ethical growth. Valentino recognizes the urgency of sustainability and aims to foster a culture that respects the environment and its community. The Sustainability Report focuses on three core principles: Product emphasizes maintaining couture excellence and ethical values in the supply chain, People provides an overview of personnel and community support initiatives, and Planet delves into the company's carbon footprint and circular projects. The report details key objectives in Valentino's operational plan, including achieving 100 percent traceability of key raw materials by 2030, training 80 percent of employees on sustainability strategy by 2026, and integrating 90 percent renewable energy across the group by 2030, signaling the brand's commitment to a sustainable trajectory.

?? Fashion

Dutch couturier Iris van Herpen continues to push the boundaries of fashion with her avant-garde creations that seamlessly blend art and science. Renowned for her mesmerizing dresses, she navigates the frontiers of innovative techniques, such as 4D printing, alongside traditional craftsmanship. In a recent interview, van Herpen expressed her fascination with the hypothetical use of an invisibility cloak, underscoring her penchant for illusion and hypnotic aesthetics. A retrospective of her groundbreaking work is on display at the Musée des Arts Décoratifs in Paris until April 28, showcasing her evolution from protective, armor-like designs to more recent collections emphasizing sensitivity and sensory experiences of femininity. Van Herpen, a pioneer in 3D printing for clothing, also employs silicon molding, laser-cutting, and water-jet cutting, creating wearable art that draws inspiration from nature, art, and scientific ideas. Despite her brief foray into ready-to-wear, van Herpen's heart lies in haute couture, allowing her creative freedom and a platform to express fashion as an art form. Her unique business model relies on private clients, collectors, and museums, avoiding mass production to preserve her creative independence. Clients, often art collectors themselves, view van Herpen's couture as a form of art, creating a harmonious blend of two worlds.Van Herpen's creative process doesn't involve sketching; instead, she directly works with materials on a mannequin, sculpting ethereal silhouettes that defy traditional categorization. Science, particularly biomimicry inspired by visits to CERN, has become a significant influence, adding an intellectual dimension to her collections.

?? Digital Gifts

Ami Paris introduces a festive delight for fashion enthusiasts—a limited edition of 999 digital mystery boxes priced at 250 euros each, available until December 24. This initiative reflects Ami Paris' commitment to blending tangible and digital experiences, targeting a digital-savvy audience. In each of these mystery boxes, valued at 250 euros or more, recipients can anticipate coveted items like the iconic "Paris-Paris" purse, a signature boxy blouson, and selections from the exclusive holiday capsule. Going beyond material offerings, the boxes also promise exclusive digital content, access to online private sales, and a revelation of additional surprises on December 25. These mystery boxes encapsulate the brand's dedication to engaging with digital natives and crafting a unique holiday experience filled with generosity. Experiences, such as a personal meeting with creative director Alexandre Mattiussi or an in-store shopping spree, add an exclusive touch. The grand prize—a fully funded trip to the fall 2024 show in Paris—adds an element of luxury beyond fashion. For those seeking a more traditional shopping experience, Ami Paris is set to release a 26-piece seasonal capsule in white and silver tones, offering a sure bet for fashion enthusiasts embracing the holiday spirit. The digital mystery boxes are globally accessible, priced at 250 euros, excluding China. Ami Paris sets the stage for a festive season filled with surprises, symbolizing luxury, exclusivity, and a celebration of the brand's new vision in under 240 words.

??Technology

Syrup Tech Inc., a startup specializing in artificial intelligence tools for optimizing inventory management in the fashion retail sector, has secured $17.5 million in a funding round led by Accel. The company's AI-driven software aims to address the issue of waste in the retail industry, particularly pertinent during the current holiday season marked by a surge in consumer spending on Cyber Monday. With investors including Google's Gradient Ventures and 1984 Ventures, the funding round values Syrup at nearly $100 million, as reported by a source familiar with the matter. Syrup's AI tools have found success with clients like Reformation and Faherty Brand. According to Ivan Tchakarov, COO of Reformation Inc., Syrup has significantly enhanced the retailer's stock allocation across its 40 stores, optimizing distribution and warehouse operations. The technology allows for predicting demand at a granular level, contributing to a notable increase in item availability at stores without expanding inventory. Tchakarov emphasized Syrup's strength in this regard, particularly in contrast to traditional spreadsheet-based approaches.

??? Beauty

Philippe Benacin, CEO of Interparfums, provided insights into the production and future plans for Lacoste fragrances during a presentation in Strasbourg. The Cosmeurop factory, owned by the Superga Beauty group, is currently producing Lacoste's L.12.12 perfumes for 2024 at a rate of 40 bottles per minute. Interparfums, holding the Lacoste fragrance license for the next 15 years, aims to generate €50 million to €60 million in revenue in the first year, having paid €90 million in advance for the license. Despite the initial break-even challenge, Benacin is confident in Lacoste's potential, citing its international recognition and powerful brand image. Benacin emphasized the plan to reassess Lacoste's fragrance range, retaining 15 out of 22 lines. The focus remains on the L.12.12 line, expected to contribute at least 50% of sales in 2024. To compete with brands like Boss and Polo Ralph Lauren, Interparfums aims to quickly reposition Lacoste, especially in the USA, identifying growth potential and highlighting the underexplored women's perfume segment, currently constituting a quarter of sales. The first Lacoste men's fragrance developed by Interparfums is scheduled for a 2024 release, with a women's fragrance following in April 2025. The upcoming fragrances will serve as indicators of the license's true potential.

??Congrats to Valentino , Iris van Herpen , AMI PARIS , Syrup Tech , Lacoste !

?? Stay tuned for more updates and, as always, feel free to share your thoughts with us!

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