Authentic Material confirms its anchorage in the luxury segment with the entry of Chanel in its capital
The French company Authentic Material, which collects and transforms unexploited noble materials into high quality materials, shows its anchorage in the luxury segment thanks to a fund raising and a new entry in its capital.
Having raised more than 5 million euros, this sum will enable the company to develop industrially in two main axes: the consolidation of sites and resources in a single location and an increase in production capacity.
With this objective and thanks to the support of regional banks and institutions, Authentic Material will be able to start its industrial development as of next September. Indeed, the company will move to a new 700m² building in the south of Toulouse to install its pilot plant for the production of recycled natural materials.
Chanel joins Authentic Material’s capital
Among the historical and long-time investors who work with Authentic Material, such as Cuir Invest, Giralda, Bpifrance or Noémie Dumesnil, the COO of Authentic Material, a new investor has joined them. It is the French haute-couture house Chanel.
The entry into the capital of this emblematic actor of the luxury industry is completely coherent with Authentic Material’s vision, which wishes to pursue a specific strategy in the luxury sector while benefiting from Chanel’s business expertise. The main clients of this firm being the Luxury Houses, Authentic Material is therefore even more in line with its position as a leading company in the luxury material recycling market.
Finally, there is nothing to report about the company’s management. Vincent Menny, the president and founder of Authentic Material, and Noémie Dumesnil, director of operations, will remain at the helm of the company.
Read also > CHANEL UNVEILS RECORD SALES IN 2021 AND REMAINS OPTIMISTIC FOR 2022
Featured photos : © Etienne Belondrade
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