Chanel Launches New Recycling Platform, Prada x Sea Beyond Initiatives, Rent the Runway Forecasts Double Digit Subscriber Growth, Champion Becomes an Official Licensee of NFL Clothing +
Chanel has launched Nevold, short for “Never Old”, as a B2B system dedicated to maximizing their use of circular materials, such as tweed and leather, at an industrial scale.
According to Bruno Pavlovsky, President of Fashion at Chanel and Chanel SAS, Nevold represents Chanel’s proactive solution to an escalating raw materials challenge.
The brand relies heavily on five core materials — cotton, wool, cashmere, silk, and leather — which together make up 80% of its material usage. Each faces mounting pressure from factors such as environmental decline, traceability issues, and geopolitical instability.
Unlike circular or resale fashion models, Nevold’s focus is on material components rather than finished products, with an emphasis on creating hybrid textiles that blend recycled materials.
Chanel in previous years introduced recycled threads into its signature tweed or replaced plastic reinforcements in shoes and bags with processed leather waste.
Prada Group is investing a trust fund for ocean conservation through its ‘Sea Beyond’ Initiative.
Prada CMO Lorenzo Bertelli revealed Prada made an initial $2 million investment into the program. The fund will receive further proceeds from Prada Re-Nylon for the Sea Beyond Collection sales.
The fund is titled ‘Sea Beyond — Multi-partner Trust Fund for Connecting People and Ocean’.
Program initiatives will be governed by Sea Beyond, including educating 35,000 children across multiple nations on ocean initiatives, developing an outdoor education project for pre-schoolers in Venice, and purposing a historic sailing boat, the Cassiopea, as a floating oceanographic research education facility.
After predicting their company would hit high profitability this year, the rental platform saw it's stock soar. Shares increased by 12% last Thursday, June 5th. Due to demand and high engagement, the company plans to double their inventory.
“Last year, we proved the business model and the unit economics of the model work. The industry of rental is now mainstream. Millions of women are now renting clothes every single year, and now is the time to invest again in growth. Given the model fundamentally works, we’re playing offense.”
Co-Founder and Chief Executive Jennifer Hyman
Rent the Runway has further developed its customer features, including a styling concierge service, a personalized website interface and back-in-stock notifications.
Customer responses to new features have proved to be positive and engaging.
