Gen Phoenix, Tapestry Expand Circular Leather Partnership

Gen Phoenix, a leading manufacturer of sustainable recycled leather fiber materials, has announced a major expansion of its partnership with Tapestry Inc., the parent company of luxury brands Coach, Kate Spade, and Stuart Weitzman. The deepened collaboration includes a new three-year supply agreement and a significant increase in Tapestry’s equity stake, as part of Gen Phoenix’s recently closed US$ 15 million Series round led by Material Impact.

Tapestry has nearly quadrupled its initial 2023 investment to acquire a 9.9% stake in Gen Phoenix, reinforcing its long-term commitment to sustainable innovation. The strategic partnership positions Gen Phoenix as a core material innovation partner for Tapestry brands, enabling consistent access to next-generation, sustainable materials at industrial scale.

“This expanded partnership marks a major milestone not just for Gen Phoenix, but for the future of sustainable materials,” said John Kennedy, CEO of Gen Phoenix. “Together with Tapestry, we’re proving that circular innovation can meet the demands of global brands without compromise.”

Since the partnership began in 2022, Gen Phoenix and Tapestry have worked closely to co-develop circular leather alternatives that retain the luxury feel and craftsmanship expected from Tapestry’s heritage brands. This collaboration spans R&D, factory integration, and product design, representing a model for how material innovation and brand legacy can align to accelerate sustainability across the fashion industry.

“This investment reflects our belief in the power of innovation to drive both purpose and profit,” said Scott Roe, Chief Financial Officer and Chief Operating Officer at Tapestry. “Gen Phoenix’s platform enables circularity at scale delivering high-quality materials that meet the style, performance, and impact expectations of today’s consumer. This reinforces our commitment to leading sustainable innovation while strengthening our supply chain resilience.”

The new funding round will allow Gen Phoenix to expand its operations, enhance production capabilities at its U.K. facility which currently supports over 60 million square feet of output annually and accelerate the development of a fully circular leather solution incorporating post-consumer and end-of-life waste.

The partnership arrives at a pivotal moment as luxury brands increasingly embrace “luxcycling” a movement coined by Gen Phoenix that emphasizes the use of innovative materials to extend the lifespan of premium fashion while preserving brand heritage and quality standards.

As both companies continue to align business performance with sustainability goals, this latest development showcases how collaboration between global brands and material innovators can lead the way in transforming the future of sustainable luxury.