Tapestry expands investment with Gen Phoenix
Tapestry, owner of Coach, Kate Spade and Stuart Weitzman, has expanded its partnership with Gen Phoenix, the UK-based company formerly known as E-Leather.
The agreement includes a three-year contracted supply deal and an increased equity stake from Tapestry, raising its shareholding to 9.9%.
Gen Phoenix uses milled leather off-cuts and post-consumer materials to produce sheets made from two layers of fibre web with a textile core, bonded using water pressure. The materials are designed to offer circular, scalable alternatives to virgin leather and synthetics.
The renewed partnership builds on work that began in 2022 and has since evolved into a close collaboration.
The two companies have shared access to R&D, manufacturing and design processes to co-develop materials that meet the aesthetic and performance needs of Tapestry’s brands while supporting sustainability goals.
Tapestry’s investment forms part of Gen Phoenix’s $15 million Series round led by venture capital firm Material Impact.
