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A French startup with ambitions to crack the market for lab-grown leather has acquired Kering-backed rival VitroLabs for an undisclosed sum.
Faircraft, which was founded just four years ago, is aiming to launch a full-scale production plant for lab-grown skin within two years. If successful, it would be the first company to commercialise the pioneering technology. To date, moving from lab to market has proved tricky.
Faircraft said its acquisition will give it the benefit of nearly 10 years of…
