Loop Industries and L'OCCITANE sign agreement to transition to 100% sustainable PET plastic
8th February 2019
The L'OCCITANE Group, a global manufacturer and retailer of natural cosmetics and well-being products with five leading brands, and Loop Industries, Inc. (Nasdaq: LOOP), a leading technology innovator in sustainable plastic, announced today the signing of a multi-year take or pay supply agreement for Loop™ branded 100% sustainable PET plastic. The agreement will see L'OCCITANE en Provence start to incorporate Loop PET plastic into its product packaging as of 2022 and place the Loop logo on all packaging containing Loop PET plastic.
As the demand for sustainable packaging solutions continues to grow, Loop Industries has emerged with transformational upcycling technology that allows plastic bottles and packaging, carpet and polyester textile of any colour, transparency or condition and even ocean plastics that have been degraded by the sun and salt, to provide brand owners a sustainable plastic product that helps solve the plastic pollution problem and meets FDA requirements for use in food-grade packaging. So, when the Loop logo appears on a package, it is a confirmation for consumers that the plastic is sustainable.
"Helping companies leverage their packaging as a symbol of their commitment to sustainability rather than a symbol of waste is one of our primary missions. We are so pleased to work with the L'OCCITANE Group, a leading premium retail brand, to do just that," said Daniel Solomita, Founder & CEO of Loop Industries. "We are convinced that companies that make this transition, use sustainable packaging and encourage recycling, will help restore our environment and create greater economic value."
For Adrien Geiger, Global Brand Director at L'OCCITANE en Provence: "Our brand is inspired by nature, people and culture and we have been using natural plant-derived ingredients and eco-friendly manufacturing for more than 40 years. We are therefore very conscious of the importance of eco-design and sustainable packaging. We have been launching eco-refill products, in-store recycling and bottles made out of 100% recycled plastic for more than 10 years and are continuing to progress on this. The innovative technology that Loop provides is a game-changer that can help us fundamentally contribute to solving the growing global concern about plastic pollution. We are excited to sign with Loop, representing a significant shift in our approach to plastic."
Both Loop and L'OCCITANE know how important it is to keep plastic in the economy and out of our shared environment. This agreement supercharges L'OCCITANE's ability to close the loop on its plastic bottles. L'OCCITANE also provides in-store recycling facilities to encourage its customers to participate, with recycling facilities now available at 30% of its owned stores and 100% targeted by 2025.