Leonardo DiCaprio Puts Money Behind a Hot Vegan Sneaker Startup – Sourcing Journal
British brand Loci has announced that it has raised £4 million ($4.6 million) in seed funding from investors including Leonardo DiCaprio. Through this, the vegan sneaker company seeks to advance its mission to create an ethical and ambitious experience while disrupting the eco-luxury sector and what Future Market Insights describes as a $42 billion market for consumers. animal-free footwear.
“For most mainstream brands today, success is measured by sales and popularity,” said CEO Emmanuel Eribo. “At Loci, we believe there is a third pillar just as important as these two: impact. The greater the impact, the more successful we are. Today, it is essential that we do more than produce a fantastic product.
At 15 months, Loci hit seven-figure sales in its first year and expanded to 26 global markets, partnering with retailers like Neiman Marcus and celebrities like Nikki Roseau.
“I’m proud to be an investor in Loci, a brand dedicated to minimizing its environmental impact and focused on creating ethical, cruelty-free footwear,” DiCaprio said. He has notably invested in various sustainable development initiatives, such as lab leather and regenerative materials.
Loci manufactures and sources its products in Europe using certified recycled ocean plastic. The unisex the sneakers are handmade in Porto, Portugal, and incorporate renewable and biodegradable materials. To date, Loci has removed more than 982,000 plastic bottles from the Mediterranean and African shores and repurposed them into a sustainable material used in its vegan leather sneakers. Each pair of sneakers is equivalent to 20 plastic bottles, the company said. Loci uses a monthly production cycle to minimize waste, with sliding scale production in response to demand. Loci also donates 10% of online profits to wildlife conservation charities.
“Sustainability is one of the most used buzzwords today,” said CMO Philippe Homsy. “We want Loci to cut through the noise and be judged by our impact. Through education, innovation and donations, we have built a business model driven by our passion. With Leo, we could not have hoped for a more authentic and committed partner.
With sustainable shoemakers like all the birds and Rothy’s become household consumer names, as well as legacy brands like Adidas and Timberland joining the green movement, Loci sets itself apart by embracing sustainability in every element of its sneakers. Bamboo and recycled nylon make up the shoe’s lining, while recycled brass is used for the eyelets and natural rubber for the soles. With seamless cork insoles and midsole 3D weaving technologyLoci shoes are built to last.
Statista estimates the ethical fashion market is valued at $7.7 billion, with 67% of consumers considering sustainable materials as a purchasing factor, according to McKinsey. Lyst reported a 178% increase in pageviews for “vegan leather” in 2021, and synthetic/regenerated The industry was the largest ethical fashion market segment by product type, accounting for 54.5% of the total market in 2019, according to Research and Markets.
“We are here to change things,” Eribo said. “That’s why it’s always important for us to think differently, to swim against the tide.”