Pic: Allbirds
Allbirds, a San Francisco-based New Zealand-American footwear and apparel company focused on sustainability, recently announced it would invest $2 million in a new company called Natural Fiber Welding (NFW). The investment will see Allbirds bring a vegan leather replacement option to customers by December 2021. NFW has reportedly raised roughly $15 million.
Other investors in NFW include Central Illinois Angels, Prairie Crest Capital, Ralph Lauren Corp. and Capital V, an investment firm focused on backing vegan products.
NFW’s products include a purportedly tougher cotton fibre made using the company’s proprietary processing technology and a plant-based leather substitute.
Those materials could find their way into Allbirds’ array of socks, shoes, T-shirts, underwear, sweaters, jackets and face masks, according to US media reports.
Clothing company Pangaia in December invested $2 million into a company called Kintra, which is making a bio-based polyester substitute.
Fibre2Fashion News Desk (DS)
Allbirds, a San Francisco-based New Zealand-American footwear and apparel company focused on sustainability, recently announced it would invest $2 million in a new company called Natural Fiber Welding (NFW). The investment will see Allbirds bring a vegan leather replacement option to customers by December 2021. NFW has reportedly raised roughly $15 million.