British fashion startup LØCI raises £4m seed round to disrupt the fashion industry
15-month-old British fashion brand LØCI announced a £4 million seed round, as well as an investment from actor and environmentalist Leonardo DiCaprio to further its impact-driven mission of redefining the sector.
Emmanuel Eribo, Co-founder and CEO, LØCI: "For most consumer brands today, success is measured by sales and popularity. At LØCI, we believe that there is a third pillar that is just as important as these two, Impact. The greater the impact, the more successful we are. Today, it's essential we do more than just make a fantastic product. We are here to change things. That's why it's always important for us to think differently, to swim against the tide. LØCI is all about working with people who believe in our mission and see the world the way that we see it. It's always been about more than footwear, we exist to make a difference and are delighted to have Leo on that journey with us.''
LØCI manufactures and sources all of its products in Europe, paying a premium for certified eco-materials, with each pair made using certified recycled ocean plastic. They focus on monthly, rather than seasonal, production cycles to reduce waste and their impact on the planet, while donating 10% of online profits to wildlife conservation charities. To date the brand has removed over 982,000 plastic bottles, land and ocean bound, that are spun into a premium, durable material used in the making of the LØCI sneakers. In addition, its profit share model has enabled grassroots organizations like SEE Turtles to save over 100,780 new hatchlings. That's how LØCI defines style and purpose.
The announcement of an investment by Leonardo DiCaprio will enable the young, creative label to amplify its mission to a wider global audience, driving awareness and shining a light on the causes that matter while LØCI continues to make waves in the fashion industry. "I am proud to be an investor in LØCI, a brand dedicated to minimizing its environmental impact, and centered around creating cruelty-free, ethical footwear," said DiCaprio.
Philippe Homsy, Co-founder and CMO, LØCI: ''DiCaprio's authenticity to the cause was key to the founding team. "Today, sustainability is one of the most used buzzwords. We want LØCI to cut through the noise and be judged by our impact. Through education, innovation, and donations, we've built a business model that is driven by our passion. With Leo, we could not have hoped for a more genuine and committed partner.''
Thinking outside of the box is key to LØCI, and they have no intention of abandoning this guiding mindset. Homsy adds, "There's a significant advantage to being unconventional. Approaching obstacles with fresh eyes and real intent helps to shape the brand's perspective. LØCI is a living, breathing community that represents a movement that's relevant today. Any momentum we have is due to the belief in our mission."
LØCI is a bold reminder that a sleek aesthetic does not have to come at the cost of environmental ethics. This £4 million seed round comes after only 15 months since launch in mid-2021, during which the mission-driven brand has achieved seven figures in sales within its first year, expanding into twenty-six global markets and partnering with some of the world's most notable retailers such as Bergdorf Goodman, Nordstrom and Neiman Marcus, to name a few. LØCI is gearing up to democratize other verticals in fashion too.