The Chinese tanning group Xingye Leather has become a member of Material Exchange, an online platform for the procurement of material for footwear and fashion companies. Based in Stockholm, Material Exchange was launched in 2016. It was rolled out in the U.S. in 2018 and in China in 2019. At the end of last year, it secured $2 million in new seed funding. On its website, Material Exchange says it has the support of various companies, including Deckers, Caleres, Wolverine Worldwide, Steve Madden and Vince Camuto.