Kate Spade owner agrees supply agreement and increases its stake in UK-based recycled leather manufacturer
PETERBOROUGH - Recycled leather producer Gen Phoenix has signed a three-year, contracted supply agreement with Tapestry, New York-based owner of fashion brands Coach and Kate Spade, and the completion of a new $15 million funding round.
Tapestry is also increased its stake in Gen Phoenix to 9.9%, nearly quadrupling its initial 2023 investment, as part of the funding round which was led by venture capital firm Material Impact.
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