French luxury brand, Chanel, has invested in Sulapac, a Finnish start-up specialising in biodegradable materials.
Chanel becomes the first investor coming from the luxury cosmetic industry.
“We have set 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 luxury segment, among our investors,” said Suvi Haimi, CEO & Co-Founder of Sulapac. “Chanel is definitely one of the forerunners in the luxury segment as they want to invest on latest sustainable material and technology innovations. Our mission to save this world from the plastic waste just became a big step closer.”
Aiming to tackle the accumulation of non-biodegradable plastics, Sulapac has developed an innovative material which responds to consumers' growing desire to find environmentally friendly products or packaging.
Sulapac products use a biodegradable and microplastic-free material made of FSC-certified wood chips and natural binders. The materials have all the benefits of plastic, yet biodegrade completely and leave no microplastics behind.