Leonardo DiCaprio and others invest in ID Genève
17 October 2023 18:01
ID Genève, the Geneva-based manufacturer of luxury watches and circular economy pioneer, has secured fresh capital in the amount of 2 million Swiss francs. Several Swiss family offices in addition to the actor Leonardo DiCaprio, who set up a foundation for the protection of the environment in his own name back in 1998, were involved in this seed funding round.
“I am thrilled to be an investor in ID Genève, a brand that’s driving change in the luxury industry and beyond, by consistently innovating and focusing on circular economy principles”, comments DiCaprio in a press release issued by ID Genève.
Nicolas Freudiger, co-founder of ID Genève, explains that the company is equally “thrilled” that this partnership has come to fruition: “Our hope is that this synergy will not only give us a louder voice in championing sustainable practices but also inspire and challenge our peers in the luxury sector and beyond to prioritize environmental practices”.
ID Genève was founded in 2020 following a campaign on the Swiss crowd funding platform wemakeit. The company sources recyclable materials with a lower carbon footprint, manufactures watchstraps on the basis of green waste that are 100 percent industrially compostable, and uses refurbished mechanical watch movements as well as other recycled materials in its processes.
For example, the recycled solar steel used in ID Geneve's latest Circular S collection is remelted in a solar furnace. Consequently, the carbon footprint of this steel is said to be 165 times lower than conventional steel. ID Genève is currently in the process of setting up a laboratory to develop ecologically innovative materials and processes, which it plans to make available to the watch industry and beyond. ce/mm