Gen Phoenix develops recycled leather fiber materials designed to replicate traditional leather quality while improving durability through circular transformation. The company has formalized an expanded partnership with Tapestry, Inc., including a three-year supply agreement and deeper collaboration on design and resources. Since their collaboration began in 2022, the two firms have moved beyond a vendor relationship to co-develop materials and scale a "luxcycling" approach that extends the lifespan of fashion and accessories. Luxury brands are increasingly adopting Gen Phoenix’s materials as part of the industry’s shift toward sustainable luxury. Gen Phoenix announced a closed financing of $15 million and an increased strategic investment from Tapestry that raised Tapestry’s equity stake to 9.9%. Leadership frames the deal as a milestone for scaling circular material innovation across global brands. Generation Phoenix, formerly ELeather, develops upcycled leather-like materials by shredding leather waste and entangling it around a high-performance core using high-pressure water. The company says its products contain up to 86% recycled content, including recycled leather and recycled plastic, though final products still include some virgin plastic. Gen Phoenix reports it has diverted more than 8,000 tons of leather waste from landfills to date and has worked with brands such as Nike and Delta. The 15-year-old firm is based in Peterborough, U.K., and says it will use new capital to expand into the luxury fashion and footwear categories. It is commercialising a bio-based coating system and bio-based substitutions for synthetic materials and says it aims to reduce and ultimately eliminate virgin materials from its products, though no deadline was given.

Total raised

$33M

Funding rounds

2

Latest round

Equity

Latest activity

Jul 2025