When Chanel speaks, the luxury world listens, so let’s hope the prestige beauty camp is tuning into this particular nugget. Chanel has invested an undisclosed sum in Finnish start-up Sulapac.
The French luxury beauty label is the first investor to hail from the cosmetics industry – although presumably more will follow assuming Sulapac goes ahead with the A-round funding planned for early 2019.
“We have set a very high quality standard to our sustainable material, with an ambition to replace plastic, and we are very pleased to welcome Chanel, a leading brand representing the most demanding of the luxury segment, among our investors,” said Sulapac Co-founder and CEO Suvi Haimi. “Chanel is definitely one of the forerunners in the luxury segment as it wants to invest in the latest sustainable material and technology innovations. Our mission to save this world from plastic waste has just become a big step closer.”