The modern luxury consumer is ethically and sustainably conscious providing an opportunity for startups looking to enter a category that has been traditionally anything but.
Once seen as a lesser alternative to animal products, vegan materials are now perceived as luxurious and desirable. New technology and innovative processes are providing designers with attractive and flexible vegan options and according to research agency Global-View the faux leather market will be worth nearly $85 billion by 2025.
Startups looking to enter the fashion or accessories market should put the customer's increasing desire for products that align with their ethical values as the starting point of their product development. However, producing truly vegan sustainable options is not without challenge and brands that launch in this space need to ensure that they have visibility of the supply chain end to end and that environmental factors are looked at closely.