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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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Vegan Eatery Expands to Serve Historic Black Town

Jenn Ross—the bubbly owner of gas-station vegan café DaJen Eats—will soon bring her irie Jamaican food to Eatonville, FL, one of the country's first self-governing all-black districts.
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Dairy Farmers Make Beer as Milk Industry Sours

Massachusetts dairy farm Carter & Stevens converted part of its facility into a brewery to offset losses incurred by low prices and decreased demand for milk.
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The Hamptons Gets Its First Vegan Café

New York's luxury vacation destination will soon be home to the Plant Based Coffee Shop, where hearty vegan food will make for a cruelty-free getaway.
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CA Senate Passes Mandatory Vegan Prison-Food Bill

State prisons, nursing homes, and hospitals may soon be required to have at least one plant-based meal option.
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Natalie Portman Survives Fiery Vegan Wings on Hot Ones

The vegan actress makes her way through the gamut of hot sauces on the series as she explains her dedication to veganism and promotes documentary Eating Animals.
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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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