Chanel has invested in Finnish start-up Sulapac, becoming the first beauty brand to fund the packaging materials company.
The investment from the French luxury goods house will enable Sulapac to expand its business and R&D arm.
Its biodegradable, micro-plastic material is made from FSC-certified wood chips and natural binders, which is said to have the durability benefits of plastic without the environmental downsides.
“Chanel is definitely one of the forerunners in the luxury segment as they want to invest in the latest sustainable material and technology innovations,” commented Suvi Haimi, CEO and co-founder of Sulapac.
”Our mission to save this world from plastic waste just became a big step closer.”