The beauty division of Paris-based international luxury brand company LVMH Moët Hennessy Louis Vuitton has signed a deal with Origin Materials Inc. to reserve delivery of its zero-carbon PET plastic for packaging its perfumes and cosmetics.
LVMH Beauty owns brands such as Parfums Christian Dior, Parfums Givenchy and Guerlain.
"LVMH is a powerhouse of luxury brands, with a high standard of excellence for the environmental performance of its products," said Origin Materials co-CEO Rich Riley, in a news release.
West Sacramento-based Origin (Nasdaq: ORGN) uses patented techniques to make wood extracts that replace petroleum to make plastic. Origin’s product is a drop-in replacement for petroleum in the manufacture of PET plastic, which is the most recycled plastic on the planet.
"At LVMH, with our Life 360 program, we made the decision that our packaging will contain zero plastic from virgin fossil resources in a near future," said Claude Martinez, managing director of LVMH Beauty, in a news release.
The deal with LVMH is the latest partnership Origin has signed with global manufacturers, including Ford Motor Co. (NYSE: F), chemical company Solvay S.A., Mitsubishi Gas Chemical Inc. and Drive+, a partnership of 11 global automotive manufacturers to bring sustainability to the automotive industry.
“This is something a little bit different than what we’ve announced before,” said Origin spokesman Evan Winchester. “They are the world’s leading luxury brand.”
Perfumes and cosmetics accounted for 1.9 billion euros ($2.05 billion) of LVHMH's sales in the first quarter this year, the company reported. LVMH's total first-quarter sales were 18 billion euros.
Origin went public in June in a merger with a special purpose acquisition company. Origin is bringing to market zero-carbon alternatives to petroleum for products including clothing, textiles, plastics, packaging, car parts, tires, carpeting, toys and bottles.
Origin’s first large-scale manufacturing plant has been under construction since last fall in Sarnia, Ontario, just over the Canadian border from Michigan. It should open this year. In February, the company announced its second location, a 150-acre facility in Geismar, Louisiana.
