In Singapore, a consortium of companies have founded Spydasilk Enterprises to develop and commercialize luxury streetwear made from spider silk.
Spydasilk owners are spider silk producer Kraig Biocraft Laboratories, Inc., trading company Kings Golden Harvest Pte Ltd., and Kings Golden Harvest streetwear subsidiary M the Movement.
“Based on our initial efforts, there is a definite demand for spider silk technology and product developers are very excited about working with these super fibers,” says Walter Wee, CIO of Kings Group. “In addition to building up the Spydasilk brand, we must build Spydasilk’s vendor and customer bases.”
The new joint venture builds on an existing partnership between Kraig Labs and Kings Group, which began with an exclusive purchase and sales agreement valued at up to $40 million.
Spydasilk will commercialize Kraig Labs’ biodegradable and biocompatible fibers, using a scalable and cost-effective spider silk production platform and patented spider silk gene sequences in silkworms.