Lulumon Partners With Genomatica For Bio-Nylon

by Shivani Kumaresan, Benzinga Staff Writer

August 18, 2021 9:58 AM | 1 min read | Make a Comment

Lulumon Athletica Inc LULU has partnered with Genomatica, a San Diego-based biotechnology company, to bring renewably sourced, bio-based materials into its products.
The move represents lululemon's first-ever equity investment in a sustainable materials company. The financial terms of the deal were not disclosed.
Under the partnership, the two parties will create lower-impact, plant-based nylon to replace conventional nylon, which is the largest volume of synthetic material currently used.
Genomatica uses biotechnology and fermentation to convert plant-based ingredients into widely used chemical building blocks, like those used to make nylon. These building blocks are converted to pellets and yarns.
Price Action: LULU shares are trading higher by 0.51% at $394.5 on the last check Wednesday.

Posted In: News Apparel, Accessories & Luxury Goods Briefs Consumer Discretionary

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.