Paris Auction Result
BSF Enterprise PLC announced that a unique handbag crafted from T-Rex Leather™, designed by Enfin Levé, failed to meet its reserve price of Euro150,000 at a Paris auction. The item has since been withdrawn from public auction and is being prepared for private sale to high-net-worth collectors. Despite the auction outcome, corporate interest in the underlying bio-sustainable technology and material pipeline remains strong, with active discussions ongoing with major global sportswear and automotive brands regarding the integration of this novel bio-leather.
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BSF Enterprise Plc ("BSF" or the "Company"), an investor in next-generation bio-sustainable technologies , provides an update following the Tentation°4 sale managed by Giquello SAS at the Hôtel Drouot auction house in Paris yesterday evening, Thursday 11 June.
The world's first-ever product crafted from T-Rex Leather™ - a unique, museum-grade luxury handbag designed by an avant-garde techwear designer Enfin Levé - attracted significant global interest. However, the bidding concluded at Euro150,000 which was short of the Company and the Auction House's reserve price, set to reflect the absolute historical significance and uniqueness of this first-of-its-kind asset. Consequently, the item was passed in.
Following immediate post-auction demand, the Company confirms that the handbag has now withdrawn from the public auction format and is being prepared for sale to a select group of high-net-worth collectors and institutions.
Commercial Traction with Global Brands
Crucially, the corporate and brand interest in LGL's underlying technology and material pipeline has not been diminished by the auction outcome. The global media campaign and public exhibitions achieved over the last two months have fundamentally proven the market appeal of "Extinction is the new black" and supercharged active, high-level corporate pipeline discussions with multi-billion-dollar Tier-1 companies:
- Sportswear & Performance Footwear: LGL continues to advance its deep conceptual R&D discussions with a leading global sportswear giant exploring the future integration of bio-synthetic structural leather into elite, high-performance athletic footwear lines.
- Next-Generation Automotive Design: Technical engagements remain highly active with a world-renowned automotive brand exploring bespoke cabin materials.
The feedback from these corporate partners reinforces that their strategic interest is entirely focused on the structural integrity, scalability, and unique IP of the bio-leather platform - all of which were successfully demonstrated by the physical existence of the handbag.
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| Bowsprit Partners John Treacy James Sheehan | +44 (0)203 883 4430 |
ISIN of the Ordinary Shares is GB00BHNBDQ51. SEDOL Code is BHNBDQ5.
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Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.