Leonardo DiCaprio’s vegan shoe line in £3million debt as items slashed to half price
LEONARDO DiCaprio is facing business woes as the trendy vegan shoe brand he backed continues to haemorrhage millions.
The star’s favoured label has been left relying on cash injections from wealthy investors to keep it afloat.
British shoemaker LØCI, in which Leo is a key investor, makes 100% cruelty-free trainers using recycled bamboo, foam and rubber.
Each £160 pair reuses up to 20 plastic bottles recovered from the Mediterranean and the east coast of Africa.
The brand has proved popular with celebrities including Ben Affleck, Mila Kunis and Eva Longoria, while fellow investor Nicki Minaj has her own range.
But following Leo’s investment, the firm’s finances took a nosedive and it now has just £7,355 listed as “cash at bank and in hand”.
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Newly released accounts for Wild Loci Ltd also show accumulated losses of £2,904,888, while the company owes £931,130 to creditors.
The figures, filed this week, reveal the business is being propped up by investment totalling £5,170,947.
That leaves it with equity of £2,280,760 despite the significant losses.
The company also risks being struck off by Companies House after filing its accounts late for two consecutive years.
It has also been late submitting its annual “confirmation statement”, a legal requirement.
The government website warns: “Not filing your confirmation statements, annual returns or accounts is a criminal offence – and directors or LLP designated members could be personally fined in the criminal courts.”
Currently, the brand is offering dozens of shoes at half price, including the “Origins” trainer, which features a “natural cork and recycled foam insole”.
All of Nicki Minaj’s range is also heavily discounted, including the “Barbie Dangerous” and “Itty Bitty Piggy” sneakers.
At the time of Leonardo DiCaprio’s investment, founder Emmanuel Eribo said: “He’s an absolute star and sees the world the same way we see it. It’s been an absolute blessing having him on the team. You can’t ignore it’s a British brand and he’s betting on it.
“He didn’t need to do this, there’s definitely something in there that is tugging on him.
“If I could say things about Leo, I’d probably use two words: genuine and kind. You can care about the world and still want good things.”
At the time, Leo said he was “proud” to be an investor, adding: “I am proud to be an investor in LØCI, a brand dedicated to minimising its environmental impact, and centred around creating cruelty-free, ethical footwear.”
LØCI have been approached for comment.
