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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

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Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
RetailNorth Face

North Face Will Start Selling Parkas Made from Fake Spider Silk for $1,000

By
Benjamin Snyder
Benjamin Snyder
Managing Editor
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By
Benjamin Snyder
Benjamin Snyder
Managing Editor
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May 11, 2016, 5:17 PM ET
Media Ambition Tokyo 2016
TOKYO, JAPAN - FEBRUARY 25: 'MOON PARKA with SANSUI' by THE NORTH FACE X Spiber with EUGENE KANGAWA is displayed during the Media Ambition Tokyo 2016 at Roppongi Hills 'MAT LAB' on February 25, 2016 in Tokyo, Japan. Media Ambition Tokyo, a showcase for technological art from Tokyo to the world, will be held from February 26 to March 21, 2016 in various locations across Tokyo. MOON PARKA is the embodiment of the latest technology Ñ the key visual of the greatest innovation in the history of materials was 'SANSUI', a monochrome video work created by a contemporary artist, EUGENE KANGAWA who exhibit 'Syndrome/Earth Hole' in this event. (Photo by Koki Nagahama/Getty Images for Media Ambition Tokyo)Koki Nagahama Getty Images for Media Ambition
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North Face is looking to the animal kingdom for inspiration for its latest jacket.

The $1,000 “Moon parka,” selling only in Japan, is a gold-colored jacket that uses the same design as typical North Face parkas. However, the item is made from a synthetic spider silk developed by Spiber, according to Bloomberg.

Interestingly, this isn’t the only company to be working on a similar product. Bolt Threads is partnering with Patagonia to enhance the brand’s fabrics for commercial use, Fortune reported Wednesday. A German company called Amsilk is also developing a type of thread for commercial products.

Spiber’s president Kazuhide Sekiyama invented the technology used to create the fake spider silk and said this will be the first clothing made from the material sold in stores. “What makes a protein-based material marvelous is it’s evolving,” said Sekiyama in an interview with the publication.

 

“The global market for textiles is $3 trillion, and we believe there is a huge opportunity for sustainably produced protein microfibers,” Dan Widmaier, CEO of Bolt Threads, told Bloomberg. “In order to succeed, companies need to be able to bring a wide range of advanced materials to market at a price that’s competitive with today’s fibers.”

About the Author
By Benjamin SnyderManaging Editor
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Benjamin Snyder is Fortune's managing editor, leading operations for the newsroom.

Prior to rejoining Fortune, he was a managing editor at Business Insider and has worked as an editor for Bloomberg, LinkedIn and CNBC, covering leadership stories, sports business, careers and business news. He started his career as a breaking news reporter at Fortune in 2014.

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