Consumption habits have always been subject to constant changes, but the pandemic has brought some and accelerated others in a way never seen before. The substitution of traditional purchase for other models, such as second-hand or rental, is one of them.
The big companies in the fashion industry know this and have gotten down to work with it. The last of them to take steps in this regard has been the Kering group, which brings together brands such as Gucci, Balenciaga or Bottega Veneta. She has made her first investment, for an amount that is still unknown, in the luxury bag rental platform Cocoon. This company, based in the United Kingdom, offers its users the opportunity to rent handbags from luxury brands, such as those that make up the Kering group, at a price that starts at 49 pounds sterling per month. Cocoon has just received an investment totaling £2.5 million, according to a statement. The sum comes from several investors in addition to the Kering group: Depop founder Simon Beckerman; Lilly Wollman, partner at Al Gore's Generation Investment Management; and businessman Riccardo Pozzoli.
The money received will be used to expand Cocoon's inventory of luxury handbags, carry out new operations and hire additional staff. “We have an ambitious innovation strategy at Kering, which aims to identify potentially disruptive trends and shape the future of luxury fashion. As part of this strategy, Kering, through its business division, is taking minority stakes in services and technologies for the next generation of luxury consumers,” said Grégory Boutté, chief digital officer at Kering. “This investment in Cocoon will allow us to monitor new consumption habits and digital practices. We see the subscription model as a very exciting trend in fashion and, by extending the product lifecycle, it resonates particularly well with Kering's ambition for circularity."
This step will allow them to approach a new generation of consumers, for whom possession of goods is not as important as timely access to them, and who have sustainability among their main values.
