DuPont™ Sorona® faux fur was awarded the ISPO Textrend “Best Product” in the Accelerated Eco category for the Fall/Winter 2021/22 season. As the apparel industry is increasingly pivoting away from the use of animal fur, this innovative product provides a thoughtful solution to fur with a luxurious, premium look and feel that designers can incorporate into their garments. Renee Henze, DuPont Biomaterials Global Marketing Director, and Hao Ding, DuPont™ Sorona® Brand Channel Manager for EMEA, were on-site at ISPO Munich to accept the award on Jan. 26, 2020.
Sorona® faux fur is made with 70 to 100 percent bio-based Sorona® polymer fibers, creating one of the first commercially available faux furs using plant-based ingredients. Current styles vary from classic mink to plush teddy-style fur, providing limitless solutions for fashion apparel – such as the inside lining of a jacket, or the trim on a collar – as well as footwear and accessories – including fur-lined shoes, earmuffs and more. The faux fur pushes the boundaries of sustainability in fashion, while providing consumers with an ethical option that is also better for the planet.
“Customers don’t have to sacrifice form for function with Sorona® faux fur,” said Henze. “Within the fashion industry, brands and several high-end designers are making commitments to abstain from the use of animal fur in their collections. Research indicates that the faux fur market is expected to grow 19 percent worldwide by 2023. We’re proud to accept this award recognizing the quality and versatility of a faux fur made with renewable plant-based ingredients.”
New Sorona® faux fur is a long-lasting and luxurious fur alternative with an array of performance attributes including warmth, design flexibility and dyeability. With exceptional softness and uncompromising durability, this natural feeling alternative to fur will not break down over time due to heat or UV rays. This can lengthen the life of the garment for multiple uses and when it is finally time to retire the garment, it can be mechanically recycled rather than being directed to the landfill like spandex.
DuPont Biomaterials: DuPont Biomaterials brings innovations to global partners through the development of high performance, renewable materials. It does so through its novel bio-based solutions for industries as varied as packaging, food, cosmetics, apparel and carpeting, all facing the challenges of greening their supply chains and offering high performance, sustainable choices to their downstream customers.
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This communication contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “target,” and similar expressions and variations or negatives of these words.
The company completed the separation of its materials science business into a separate and independent public company by way of a pro rata dividend-in-kind of all the then outstanding stock of Dow Inc. (the “Dow Distribution”). The company completed the separation of its agriculture business into a separate and independent public company on June 1, 2019, by way of a pro rata dividend-in-kind of all the then outstanding stock of Corteva, Inc.(the “Corteva Distribution”).
DuPont and IIF announced they had entered definitive agreements to combine DuPont’s Nutrition & Biosciences business with IFF in a transaction that would result in IFF issuing shares to DuPont shareholders, pending customary closing conditions, other approvals including regulatory and that of IFF’s shareholders.
Forward-looking statements address matters that are, to varying degrees, uncertain and subject to risks, uncertainties and assumptions, many of which that are beyond DuPont’s control, that could cause actual results to differ materially from those expressed in any forward-looking statements. Forward-looking statements are not guarantees of future results. Some of the important factors that could cause DuPont’s actual results to differ materially from those projected in any such forward-looking statements include, but are not limited to: (i) the parties’ ability to meet expectations regarding the timing, completion and accounting and tax treatments of the proposed transaction with IFF; changes in relevant tax and other laws, (ii) failure to obtain necessary regulatory approvals, approval, if required, of IFF’s shareholders, anticipated tax treatment or any required financing or to satisfy any of the other conditions to the proposed transaction, (iii) the possibility that unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies that could impact the value, timing or pursuit of the proposed transaction, (iv) risks and costs and pursuit and/or implementation of the separation of the N&B Business, including timing anticipated to complete the separation, any changes to the configuration of businesses included in the separation if implemented, (v) risks and costs related to the Dow Distribution and the Corteva Distribution (together, the “Distributions”) including with respect to achieving all expected benefits from the Distributions; restrictions under intellectual property cross license agreements; non-compete restrictions; incurrence of significant costs in connection with the Distributions, including costs to service debt incurred by the Company to establish the relative credit profiles of Corteva, Dow and DuPont and increased costs related to supply, service and other arrangements that, prior to the Dow Distribution, were between entities under the common control of DuPont; indemnification of certain legacy liabilities of E. I. du Pont de Nemours and Company.
(“Historical EID”) in connection with the Corteva Distribution; and potential liability arising from fraudulent conveyance and similar laws in connection with the Distributions; (vii) failure to effectively manage acquisitions, divestitures, alliances, joint ventures and other portfolio changes, including meeting conditions under the Letter Agreement entered in connection with the Corteva Distribution, related to the transfer of certain levels of assets and businesses; (viii) uncertainty as to the long-term value of DuPont common stock; (ix) potential inability or reduced access to the capital markets or increased cost of borrowings, including as a result of a credit rating downgrade and (x) other risks to DuPont’s business, operations and results of operations including from: failure to develop and market new products and optimally manage product life cycles; ability, cost and impact on business operations, including the supply chain, of responding to changes in market acceptance, rules, regulations and policies and failure to respond to such changes; outcome of significant litigation, environmental matters and other commitments and contingencies; failure to appropriately manage process safety and product stewardship issues; global economic and capital market conditions, including the continued availability of capital and financing, as well as inflation, interest and currency exchange rates; changes in political conditions, including tariffs, trade disputes and retaliatory actions; impairment of goodwill or intangible assets; the availability of and fluctuations in the cost of energy and raw materials; business or supply disruption, including in connection with the Distributions; security threats, such as acts of sabotage, terrorism or war, natural disasters and weather events and patterns which could result in a significant operational event for DuPont, adversely impact demand or production; ability to discover, develop and protect new technologies and to protect and enforce DuPont’s intellectual property rights; unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as management’s response to any of the aforementioned factors.
These risks are and will be more fully discussed in DuPont’s current, quarterly and annual reports and other filings made with the U.S. Securities and Exchange Commission, in each case, as may be amended from time to time in future filings with the SEC.
While the list of factors presented here is considered representative, no such list should be considered a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on DuPont’s consolidated financial condition, results of operations, credit rating or liquidity.
You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. DuPont assumes no obligation to publicly provide revisions or updates to any forward-looking statements whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. A detailed discussion of some of the significant risks and uncertainties which may cause results and events to differ materially from such forward-looking statements is included in the section titled “Risk Factors”.