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PayPal CEO: "Dead-Cow Wallets" to Be Obsolete by 2028

Younger generations are putting a dent in the leather industry by choosing fashion accessories free of animal products.

According to a recent report by Bloomberg, consumers are increasingly seeking out animal-free apparel such as footwear and wallets—a trend that is putting the more than $90 billion leather industry in jeopardy. “While the shift partly reflects an abundance of choices in materials,” Bloomberg stated, “consumers cite growing discomfort with the slaughter of cattle and concern over the environmental impact of raising them by the millions.” While athletic footwear sales grew by 14.3 percent in 2016, the sales of leather shoes plummeted by 12 percent and experts predict the downward trend for leather will continue. During a recent conference call, PayPal CEO Daniel Schulman predicted that the iconic leather billfold wallet would become obsolete in 10 years. “Dead-cow wallets,” Schulman said “… will be a thing of the past” as consumers choose more modern materials and move away from paper-based money. Market research firm Grand View Research recently predicted that the global vegan leather industry will continue to grow to be worth $85.05 billion by 2025.

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Costco Debuts $5 Vegan Breakfast Bowls Nationwide

The food court at the big-box retailer is about to get a lot more refreshing thanks to a plant-based berry-and-granola-loaded açaí bowl, available by the end of this month at locations nationwide.
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Montreal Bans Cruel Horse-Drawn Carriages

Beginning on New Year's Eve 2019, horses will no longer be forced to pull passengers across the cobblestone streets of the Canadian city.
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New Locator Finds Vegan Food at Ballparks

New guide Veggie Happy helps sports fans locate vegan options at stadiums nationwide.
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New Vegan Butcher Shop Opens in Texas

San Antonio's Hip Peaz Vegan Eats offers a rotating menu of vegan meat sandwiches, burritos, and gumbo.
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Vegan Shoe Brand No One's Skin Debuts in London

The new footwear brand aims to eliminate the pollution caused by the animal-based leather industry with comparable, vegan alternatives.
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This Week on VegNews TV: The secret to these delightful sweet treats is white beans! Aylin Erman shows you how to make these simple blondies.

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