The sustainability focused shoe maker Allbirds has taken another step to green its supply chain with a small $2 million investment in a new company called Natural Fiber Welding.
Announced this morning, the investment in Natural Fiber Welding will see Allbirds bring a vegan leather replacement option to customers by December 2021. It’s a natural addition for a company that has always billed itself as focused on environmental impact in other aspects of its apparel manufacturing.
Allbirds these days is far more than a shoe company, and Natural Fiber Welding’s products include a purportedly tougher cotton fiber made using the company’s proprietary processing technology and a plant-based leather substitute. Read more…..
Chart of the Day
Ray Dalio founded and manages the largest hedge fund in the world, Bridgewater Associates. He warns that if we don’t reform capitalism to narrow the wealth gap in this country, we’ll not only see greater polarization, but also a worse economy for all.