Plant-based RM Williams on the cards as Forrest makes fresh investment

Australia’s famed RM Williams boot could start being made from a plant-based leather alternative following a $26 million investment by mining magnate Andrew Forrest in a US sustainable textiles company.

Forrest’s Tattarang investment firm announced on Tuesday evening it had backed Illinois-based Natural Fiber Welding’s $US85 million ($114 million) series B investment round, pouring in $US20 million ($26.8 million) alongside a raft of high-profile investors such as BMW and Ralph Lauren.

Natural Fiber Welding’s (NFW) main products are Clarus, a collection of high-performance sustainable textiles, and Mirum, a plastic-free, plant-based leather alternative that is fully biodegradable.

It’s the latter that Tattarang is eyeing as a product that could potentially be used by another one of the firm’s investments: RM Williams boots. Tattarang chief investment officer John Hartman said Mirum could provide “wide-ranging” opportunities for the iconic Australian brand, though stressed the company’s core range would remain traditional leather.

“Leather is of course deeply entwined in the DNA of RM Williams, and we have no plan to change that, however we know consumers are increasingly seeking high-performance, plastic-free leather alternatives. NFW could provide an opportunity for us to further explore this with RM Williams,” Hartman said.

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“Aligning with Andrew and Nicola Forrest’s ultimate goal to eliminate all plastic waste through the initiatives of Minderoo Foundation, Tattarang and RM Williams are on a journey of continuous improvement to remove plastics and other synthetics from our supply chains.”

Forrest acquired RM Williams in late 2020 as part of a $190 million deal, which was posed as a return of the company to Australian hands after years of foreign ownership. Following the acquisition, the company said it would focus more on sourcing Australian-made leathers for its boots, and bring as much of its boot manufacturing back to Australia as possible.

If RM Williams were to use NFW’s leather-like products, it would not be the first Australian company to do so, with Fitzroy-based bag and wallet maker Bellroy also making a line of Mirum-based accessories. Global brands such as H&M, Allbirds and Alexander McQueen have also used NFW’s textiles in their products.