Pressrelease: Labwear Studios Takes Home the Title of Hult Prize Semifinal Winners in Lisbon!
Lisbon, 26.06.2023 — Labwear Studios, a Switzerland-based startup, has achieved an impressive victory in the Hult Prize semifinals held in Lisbon. Among more than 20,000 startups worldwide, Labwear Studios emerged as one of the top 20 startups, captivating the esteemed panel of judges with their groundbreaking approach to redesigning fashion manufacturing.
Attracting over 100,000 participants to compete globally for a $1,000,000 prize, the Hult Prize stands as one of the world’s largest startup competitions. Aligned with this year’s Hult Prize theme of “Redesigning Fashion,” Labwear Studios aims to revolutionize the fashion industry by introducing advanced and sustainable manufacturing solutions.
Recognizing the sustainability challenges faced by the fashion industry, Labwear Studios is determined to eliminate overproduction and minimize waste by manufacturing garments at the same pace they are sold. This strategy reduces inventory and fosters a more sustainable and circular fashion ecosystem.
“Our win at the Hult Prize semifinals validates the urgency and relevance of our mission to redesign the fashion industry,” stated Nicolas Schierle, CEO of Labwear Studios. “We are rewriting the rules by providing fashion designers and brands with an advanced and sustainable manufacturing solution that promotes accessibility, circularity, and transparency.”
Labwear Studios operates on the principles of lean manufacturing, optimizing production quantities to achieve agility, efficiency, and sustainability. Through their LabwearOS platform, they have established a fully-integrated ecosystem of factories in Portugal, granting fashion designers and brands the opportunity to produce garments with minimum quantities as low as 50 pieces and lead times of 3–6 weeks.
Labwear Studios’ team, Michael Mangold (23), Nicolas Schierle (24), Max Schmid (23), and Samuel Thoma (22), bring a unique blend of expertise in engineering, business, art direction, and marketing. With their diverse backgrounds and shared passion for innovation, they are driving Labwear Studios’ mission to revolutionize the fashion industry through advanced and sustainable manufacturing solutions.
Participating in the Hult Prize competition has provided Labwear Studios with invaluable opportunities for mentorship, networking, and recognition. Their victory in the Lisbon semifinals highlights the potential and impact of their business plan in reshaping the fashion industry for the better.
Labwear Studios now sets its sights on the global final accelerator, where they will compete against the other winners from around the world for the chance to secure a $1 million prize. With an unwavering commitment to sustainability, accessibility, and innovation, Labwear Studios is poised to redefine the fashion landscape and inspire a more responsible and inclusive industry.
For media inquiries, please contact:
Labwear Studios
Instagram: @labwearstudios
Email: info@labwearstudios.com
Website: www.labwearstudios.com
