Luxury brand Hermès will launch a new version of its Victoria handbag made from Sylvania, a mushroom-based vegan leather produced by startup, MycoWorks.

The exclusive collaboration that has lasted three years would result in the first commercially viable product using Sylvania or Fine Mycelium-a type of leather made from fast-growing root mushroom systems.

"We could not imagine a better partner than Hermès to present our first object made of Fine Mycelium. Hermès and MycoWorks share common values of craftsmanship, quality, innovation, and patience," MycoWorks CEO Matt Scullin said.

"The power of storytelling is key in any new technology or art. Sylvania represents how nature and biotechnology can work in concert to create a material with the highest standards of quality."

California-based MycoWorks will supply the mushroom leather for the Victoria bag, which will go through a tanning and finishing process in France by the tanners of Hermès before being shaped by the craftsmen of the fashion house.

According to Pierre-Alexis Dumas, Hermès' Artistic Director, the mission and ideals of MycoWorks mirror those of Hermès: a deep fascination with natural raw materials and their transformation, a desire for perfection, with the goal of ensuring that items are better used and maximized to their longevity.

The final version of the Victoria bag is yet to be announced, but the original material formulations contain a mix of Sylvania, canvas, and Evercalf calfskin (which is made from the hides of young cows).

MycoWorks and Hermès is the newest partnership between global fashion companies and start-ups to provide more natural and animal-friendly alternatives to traditional leather.

Biotechnology startup Bolt Threads revealed last year a collaboration with retail companies Adidas, Stella McCartney, Lululemon, and Kering-a luxury fashion agency that oversees the growth of brands such as Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, and more.

This collaboration will allow fashion designers exclusive access to Bolt Threads' Mylo-which, like MycoWorks' Sylvania, is crafted from mycelium that Bolt Threads crafts from vegan leather. The partnership will result in the introduction of new mushroom leather goods in 2021.

Celebrities Natalie Portman and John Legend invested in MycoWorks last year.

The stars backed the startup in its most recent financing round - raising an astounding $45 million. In addition, MycoWorks promises that it will use the money to 'scale up demand' for its leather-free materials.