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Β· Posted on
February 21, 2024

Calling all consultants: Hold on to ya oat lattes 'cos we might be getting vegan RMs

RM boots made from plant-based materials? We're all for it.

What's the key learning?

  • Plant-based alternative industries are taking off.
  • More than half of consumers have made significant lifestyle changes aimed at reducing their environmental impact in the last two years.

πŸ‘‰ Background: R.M. Williams is the South Australian brand behind the iconic Aussie boots worn by farmers... and PwC consultants.

πŸ‘‰ What happened: The company was sold offshore to LVMH in 2013, before being brought back to Oz by Tattarang (aka mining billionaire Andrew 'Twiggy' Forrest's investment company).

πŸ‘‰ What else: Tattarang just invested nearly $27 million into a plant-based textile developer πŸƒ called Natural Fibre Welding. Could we be about to see vegan RMs?

πŸ”” What's the key learning?

πŸ’‘ While the plant-based milk and meat industries are taking off, plant-based substitutes in other industries are also growing.

πŸ’‘ 57% of consumers made significant changes to their lifestyles to lessen their environmental impact over the last two years. They're also more focused on eliminating animal cruelty. As a result, the fashion industry is turning to 'next-gen' materials.

πŸ’‘ Cartier made faux leather straps for its watches and HermΓ©s made a prototype of one of its popular bags from fungal roots πŸ„ πŸ‘œ . And it looks like R.M. Williams might just be buying a ticket to the plant-based train too πŸš‚ .

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