Kering exports its Sustainable Innovation Award to Saudi Arabia
Luxury giant Kering, owner of prestigious houses such as Gucci and Balenciaga, has just completed the first edition of the Kering Generation Award x Saudi Arabia. This award, which recognizes start-ups committed to sustainability, has been exported to Saudi Arabia for the first time, in partnership with the Kingdom’s Fashion Commission and the Plug & Play innovation platform.
An initiative to promote ecological commitment
Since its launch in 2017, the Kering Generation Award has highlighted innovative initiatives around thecircular economy,customer engagement and the protection of natural resources, particularly water. For this Saudi edition, more than 100 start-ups presented their projects, testifying to thegrowing rise of local businesses focused on sustainability.
Three start-ups stood out and received awards:
- Amused, a marketplace platform specializing in second-hand luxury goods.
- Asteri, a clean beauty brand developed to withstand the extreme conditions of the Saudi desert.
- Darah Solutions Lab, a company that transforms used clothing into innovative creations.
According to Marie-Claire Daveu, Kering‘s Sustainable Development Director, the success of this initiative demonstrates the Kingdom’s interest in ecological solutions and its ambition to build a sustainable entrepreneurial ecosystem.
Saudi Arabia, a strategic market for luxury goods
While the Chinese market is experiencing a slowdown, the Middle East & Africa (MEA) region is emerging as a fast-growing Eldorado for the major luxury houses. For Kering, collaborating with local start-ups from a sustainability perspective is a way of anchoring itself in this prosperous region, while reinforcing its ethical image.
A few days before this announcement, François-Henri Pinault ‘s group also revealed theextension of the Kering Generation Award to jewelry, with an emphasis on waste recycling. A few months earlier, Kering also launched a tool to measure the environmental impact of companies in Asia-Pacific, confirming its growing commitment to more responsible fashion on a global scale.
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