By Hollywood superstar Leonardo DiCaprio’s foray into eco-friendly fashion has hit a rough patch, as his investment in the British vegan shoe brand Wild Loci Ltd faces substantial financial losses. The company, known for its trendy Loci trainers, has reported a staggering £2.7 million in losses, including £712,103 owed to creditors. This financial setback follows a previous year’s loss of £966,809, painting a concerning picture for the sustainable footwear venture.
Wild Loci Ltd has gained attention for its innovative approach to shoe manufacturing. The company’s Loci trainers are crafted from recycled materials, including bamboo, foam, and rubber. Each pair of shoes impressively repurposes 20 plastic bottles, aligning with DiCaprio’s well-known commitment to environmental causes. Despite their eco-friendly credentials and a price tag of around £170, the brand has struggled to translate its ethical appeal into financial success.
The shoes have garnered a following among celebrities, with notable figures such as Princess Eugenie and Lily James spotted wearing the brand. However, this star power hasn’t been enough to offset the mounting losses. In response to the financial strain, investors, including DiCaprio himself, have injected £3 million into the company over the past 12 months in an attempt to keep it afloat.
DiCaprio, at 49, has long been a vocal advocate for environmental causes. His involvement with Wild Loci Ltd is just one facet of his broader commitment to sustainability. The actor’s journey as an environmental activist began in earnest in 1998 when he met then-US Vice President Al Gore to discuss global warming. That same year, DiCaprio established the Leonardo DiCaprio Foundation, which supports over 35 conservation projects worldwide.
Emmanuel Eribo, the founder of Wild Loci Ltd, speaks highly of DiCaprio’s involvement and vision. He describes the actor as “an absolute star” who shares the company’s worldview. Eribo emphasizes the significance of DiCaprio’s investment in a British brand, noting, “You can’t ignore it’s a British brand and he’s betting on it. He didn’t need to do this — there’s definitely something in there that is tugging on him.”
Eribo’s praise for DiCaprio extends beyond his financial contribution, highlighting the actor’s character: “If I could say things about Leo, I’d probably use two words: genuine and kind. You can care about the world and still want good things.” This sentiment underscores the alignment between DiCaprio’s personal values and the ethos of Wild Loci Ltd.
For his part, DiCaprio has expressed pride in his association with the brand. “I am proud to be an investor in LOCI, a brand dedicated to minimizing its environmental impact, and centered around creating cruelty-free, ethical footwear,” the actor stated. This investment represents a tangible manifestation of DiCaprio’s long-standing commitment to environmental causes and sustainable living.
The financial struggles of Wild Loci Ltd highlight the challenges faced by eco-friendly businesses in a competitive market. Despite celebrity endorsements and a noble mission, the company’s significant losses raise questions about the viability of sustainable fashion ventures. The situation serves as a reminder that even with star power and ethical production methods, businesses must navigate complex financial realities.
As Wild Loci Ltd grapples with its financial challenges, the company’s future remains uncertain. The continued support from investors like DiCaprio may prove crucial in determining whether this eco-friendly shoe brand can overcome its current difficulties and establish a sustainable business model. The outcome of this venture could have broader implications for the future of ethical fashion and celebrity-backed environmental initiatives.
Source: the-sun.com
