Cocoon Club, the luxury handbag membership business has appointed Kate Rand, previously COO at Threads Styling as the successor to Ceanne Fernandes-Wong.

LONDON, LONDON, UNITED KINGDOM, May 9, 2024 /EINPresswire.com/ -- Cocoon Club, the luxury handbag membership business has appointed Kate Rand, previously COO at Threads Styling as the successor to Ceanne Fernandes-Wong who co-founded Cocoon Club with Matt Heiman in 2019. Matt continues to actively support the business as chairman.

With over 1150 active members and growing year on year, Cocoon Club was founded in 2019 by Matt Heiman and Ceanne Fernandes-Wong and is backed among other investors by a minority stake from Kering Ventures, the investment arm of Kering acquiring holdings in services and technologies for the next generation of luxury consumers. Business of Fashion reported that luxury fashion houses have 2.2 billions of pounds worth of excess inventory they are unable to sell, and recently estimated the industry has a financial gap of 1 trillion to fund new business models to encourage sustainability in Fashion. Cocoon is part of the solution to this, by providing an environmentally friendly way to use overstock and returns without destroying or storing unusable stock, and providing a commercially and consumer friendly alternative to purchasing items.

Following the luxury fashion trend set by Chanel's CEO Leena Nair, Kate Rand has previously held Chief People Officer positions, and has been on the executive team for a number of growth businesses in the luxury and technology sectors, taking full responsibility for both business and people strategy, and most recently was part of the majority investor buy out of Threads Styling by Chalhoub Group. With Kate's track record of building and scaling growth businesses, and experience in social commerce, the move highlights Cocoon's intentions to scale the business significantly in the coming year and to establish themselves as an international player with a focus on a significant funding round targeted for the fall.

“The Cocoon concept of making luxury accessible, whilst encouraging consumers to move away from fast fashion purchases is something that resonates deeply with me. The business model and market opportunities we have ahead of us are extremely compelling, and we are ahead of the curve. I am thrilled to be able to take Cocoon on the hyper growth journey; to be able to provide a way for the luxury brands that we love and admire to stay relevant, reach new consumers, and ultimately be more sustainable is such a strong purpose to be motivated by.” Kate Rand, CEO

By providing members with access to luxury bags at the monthly cost of a fast fashion bag, Cocoon can make luxury accessible to aspirational clients and provide brand partners with consumer insights, plugging the consumer insights gap many brands have due to products being sold through resellers. Bags are maintained by an inhouse team of experts who can prolong the life of every bag, increasing the lifetime value of the bag and reducing the cost per ware significantly from that of a consumer owned product.

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