Degenerate shoe black

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Market & Trends

Vegan Footwear Market Now Worth $40.9Bn, Significant Growth Expected

According to a new report, the market for vegan footwear is worth $40.9 billion and is expected to grow with a CAGR of 7.98% through to 2030. Increasing awareness of the ethical issues involved in producing animal-based materials — such as animal cruelty and a high carbon footprint — is believed to be the biggest driver of growth. As more money is invested into animal-free materials, production techniques are rapidly improving, which is further boosting the market. However, research indicates that consumer awareness of vegan footwear is still not high, while animal-free shoes tend to be more expensive than those made with leather or other animal-derived materials. These factors could restrain the market. Over the forecast period, North America is predicted to be the region …

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Allbirds Vegan Sneaker

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Fashion, Design & Beauty

Allbirds Launches First 100% Vegan Sneakers Made from Upcycled Rice and Citrus Peels

Footwear brand Allbirds has announced the launch of the Plant Pacer, its first 100% vegan sneaker. While Allbirds is traditionally known for its natural line of shoes incorporating sheep’s wool, the Plant Pacer makes use of sustainable, plastic and petroleum-free plant leather.  88% less carbon The Plant Pacer offers the same signature comfort Allbirds is famous for, and is constructed from innovative materials like rubber, plant oils, upcycled rice hulls and even citrus peels.  The shoe’s eco-friendly ingredients mean it produces 88% less carbon than conventional animal leather, and 75% less than standard synthetic pleather. The Plant Pacer, which retails for about $135, also features lightweight eucalyptus-based TENCEL™Lyocell blend lining. Allbirds is offering a canvas version of the Plant Pacer constructed with organic cotton and …

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Allbirds

© Allbirds

Company News

Leonardo DiCaprio-Backed Allbirds Aims For $2Bn IPO, But How “Green” Are its Products Really?

Allbirds, marketed as an eco-friendly sneaker brand, is preparing for its New York IPO. The company is aiming for a valuation of over $2 billion, with fans and backers including Leonardo DiCaprio, Ashton Kutcher, Barack Obama, and Google founder Larry Page. However, as the discourse around “greenwashing” increases in volume, vegconomist takes a look at the brand to ask how eco-friendly Allbirds’ products are.

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Fashion, Design & Beauty

Allbirds Files NASDAQ Listing With Plans For Huge Retail Expansion Despite Losses

Sustainable footwear brand Allbirds this Tuesday revealed it has applied to list its Class A common stock on Nasdaq under the ticker symbol BIRD. The NY Times reports that the B Corp, which was valued at around $1.7 billion in 2020, brought in about $219 million in revenue last year, Allbirds was founded in 2014 by Tim Brown and Joey Zwillinger in New Zealand, setting out as a DTC brand specialising in sustainability. In an interview from back in 2018, Zwillinger stated that an IPO was “not desirable for a variety of reasons,” and that the Allbirds had been “profitable since basically day one.”  As has been widely reported, the company has reported major financial losses and admits it will continue to be unprofitable for …

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Products & Launches

Leonardo DiCaprio invests in the sustainable shoe brand Allbirds

The actor Leonardo DiCaprio, who has long been committed to the environment and climate protection, has invested in his favourite shoe brand, Allbirds. The sustainable shoe manufacturer is developing a sole made of renewable sugar cane. DiCaprio’s foundation has already donated to the fight against climate change. According to People magazine, he is now proud to be supporting sustainable and environmentally friendly fashion with his latest investment. “Creating sustainable consumer goods requires strong commitment from brands who understand their role in solving our environmental crisis,” said DiCaprio. “Allbirds is leading the way in developing new materials that will serve as models for the footwear industry. This kind of innovation is crucial for a more sustainable future.” Unlike the plastic foam usually used to make sneakers, …

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