The Presidential Daily Brief

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  1. A woman surrounded by shoes.

    Vegan Fashion Is Going Global

    Try this on for size. A growing number of startups are choosing to make cruelty-free clothing away from traditional hot spots, OZY reports. With new firms in Asia, Africa and Latin America, vegan buyers are no longer limited to producers in the U.S. and Europe. That means lower costs for shoppers too. From vegan tote bags in Singapore to soy leather products in Indonesia, legacy animal-free brands should prepare for stiff new competition.

    What’s the market like? Six percent of Americans identified as vegan in 2017 — compared to only 1 percent in 2014 — while the global faux leather market could hit $85 billion by 2025.

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