The buzzy phrase, next-gen materials, means innovative inputs like non-animal, non-plastic alternatives to leather, fur, silk, viscose, polyester and the like.
While the material innovators are hard at work improving qualities like drape, malleability, tensile strength and water resistance, Siu dubbed the brands “gatekeepers,” for the increasingly competitive next-gen material landscape where a brand “spending time and resources is basically placing their bets.”
If that’s the case, then celebs like Natalie Portman and John Legend , and luxury houses like Hermès have already placed bets on MycoWorks, as noted in the investor breakout chart in the report. Per MII’s findings,MycoWorks recently held its press and client preview at its “Freedom of Creation” exhibit in New York City last week.
There, amid an exhibit complete with a tower of mycelium trays, a bio-leather craftsman studio and gallery-style swatch displays, Sophia Wang, cofounder of MycoWorks, artist and dancer, described the luxury hook.
On what identifies a good brand partner, Siu described a certain scenario: “I think it’s very difficult to put a [criteria] like you have to work together for how many years, because sometimes if it’s not a good fit — it’s not a good fit. I also think that’s not just the requirement of the materials — but also the people. You choose to work with people who have the same kind of vision you have.
“I would say it’s brands that are almost ‘dating around’ with many different material innovators that show material commitment because it takes a lot of time and energy and resources to engage with the start-ups, or these material innovators,” Siu said.End products offer proof to success if the now-nascent industry is to grow quickly to take up 3 percent of the $70 billion leather materials market by 2026, as MII projects.
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