Growing awareness about sustainability and urgent pleas to stop animal cruelty have spiked demand for faux leather in the luxury fashion market. Influential players in the industry are partnering emerging biomaterials companies to introduce new products made of leather altearnativesa. For instance, Adidas, Stella McCartney, Lululemon and Kering collaborated with Silicon Valley material solutions firm Bolt Threads in late 2020, to launch products made with leather substitute Mylo, derived from mushroom roots.
Lululemon is also launching a new range of Mylo yoga mats and bags. As per a Glossy report, brands like Chanel and Hugo Boss have been making accessories from Pinatex’s leather alternative since 2019.
Mushroom threads as leather substitutes
San Francisco-based MycoWorks, which inducted Patrick Thomas, Ex CEO, Hermes, into board of directors, makes a leather-like material form
mushroom threads or mycelium. The company customizes this material called Reishi as per specifications around thickness, weight and shape, among other features. The material is then tanned and converted into a finished product by traditional leather craftspeople in Spain.
In November MycoWorks raised $45 million in a Series B funding round co-led by Taiwan’s WTT Investment and California’s DCVC Bio. Other investors included Natalie Portman, John Legend and several undisclosed fashion brands. In June, MycoWorks attended the startup and tech conference VivaTech by setting up a stall in an LVMH-hosted booth.
Leather-free initiatives
Luxury brands are launching new initiatives to uphold their customers’ values. In June, Neiman Marcus announced plans to go fur-free by 2023. Similarly, Puig-owned Carolina Herrera, Jean Paul Gaultier and Dries Van Noten resolved to stop using exotic skins.
As seen from LVMH’s earning for H1 FY2021, leather goods are big business for luxury brands. Brands in its fashion and leather goods division witnessed an 81 per cent rise in revenues in 2021. The group has lined up several sustainability-focused changes in its products.
The industry is also likely to witness several, material-focused changes in future, adds Thomas. New materials to boost brands’ creativity and product development will be introduced.
