Dana Cohen witnessed the meteoric, and frightening, rise of fast fashion working for apparel companies in New York City for over a decade.
“We went from designing unique, thoughtful products to chasing trends and everything started to look the same,” recalls Cohen, 41, who was born and raised in Florida but now lives in Brooklyn with her family. “I watched fabrics get ordered and never be used and garments piling up on sales racks. We were drowning in fashion excess.”
It was then Cohen realised that she could do something to help while remaining in an industry she loved. “I couldn’t be complicit in the destruction of the planet and knew there had to be a better way to design,” she says.
undefined In November 2019, just a few months before the pandemic, Cohen launched Hyer Goods, a leather accessories company that uses the waste created by other brands—with fabric sourced from deadstock and factory scraps—to make bags, wallets, keychains, and blazers. The name Hyer is a riff on “higher,” or better, design.
Cohen’s mission is simple: to use scrap waste and “turn it into something beautiful.”
THE ITEMS
Hyer Goods focuses on leather because it is “high-quality, durable and can last for generations. The last thing we’d want to do is create more things that just end up in a landfill,” Cohen says. She launched an accessories brand, meanwhile, because accessories are small. “Focusing on small goods enables us to maximise the waste available. We even use the cutting waste to make our small leather goods, like card wallets and watch bands.”
Items include the ’90s-style luxe medium shoulder bag, which comes in colours like white and bright red and crocodile texture. There is also the luxe camera bag—available in a bright pop of fuschia pink and more neutral tones, such as camel—and the pocket cube bag, an everyday satchel with a canvas front pocket.
Hyer Goods also sells a deadstock leather blazer in a relaxed fit in black, chocolate and camel, and phone slings and wallets, as well as a handful of knitwear items, including the “salvaged angora scarf” and “a better beanie,” both created using leftover materials such as angora and merino yarn.
Cohen’s favorite style, however, is the luxe mini bucket bag, which comes with two different removable straps.
“It’s both classic and iconic in design,” she says. “I love that it converts from a crossbody to a handheld bag which enables me to wear it anywhere from errands to a wedding.”
Hyer Goods is currently selling a limited-edition, made-to-order Hello Adrianne hand-painted canvas bucket bag, featuring either a pair of tomatoes or a piece of farfalle pasta. A collaboration with the American artist Adrianne, dubbed “the tomato girl” for her depictions of canned tomatoes and other Italian foods, each bag is hand-painted in New Jersey.

Lena Shkoda
“A good-quality bag can last for generations. I love the idea of creating heirloom products that can be handed down,” explains Cohen. “It’s the antithesis to fast fashion. I cherish some of my mom’s old bags, and I hope these bags have a similar future.”
THE PRICE
Many of the bags mentioned are priced around US$300, give or take. The deadstock leather blazer is US$375. The salvaged angora scarf is US$120, and the better beanie is US$75.
Besides shopping online, customers can also pop into the Hyer Goods store located on a quaint street in New York’s West Village.
WHAT’S THE GOOD?
Each year, 6.3 million tons of textiles are discarded in the fashion industry; in accessories, up to 15% of leather can be wasted due to the material’s natural defects, according to the Hyer Goods website. Most bag brands use either new leather, whose harvesting is bad for the environment, or vegan leather. Vegan leather may be animal-free, but it contains substantial amounts of plastic, does not wear well, and can take centuries to degrade.
By contrast, Hyer Goods uses deadstock materials, discarded by luxury brands, which reduces the energy footprint needed to breed livestock, as well as the waste sent to landfills. “In addition to using upcycled materials, every decision we make is made with the planet in mind, from our packaging choices to our designs,” says Cohen.
The company uses veg-tanned leather skins and tries to source leather made in Italy, directly from factories. Any canvas used, meanwhile, is deadstock, while the knits are made from luxury yarn leftovers, sourced locally in New York. Every supplier, meanwhile, must agree to the Hyer Goods Supplier Manual, which includes compliance with human rights laws.
WHAT’S NEXT?
Cohen says her goal from the start was to create the highest-quality goods out of waste.
“While we’re already using incredible Italian leathers and other luxury leftovers, I’m excited to announce some new sources of waste that are coming from the most exclusive, high-end brands in the world,” says Cohen. “In order to keep emissions as low as possible, we’ve developed an entire new supply chain in Italy, where the waste exists, and will be debuting a Made in Italy collection utilizing the world’s best leftover leathers soon.”
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Investors are bracing for a bumpier fall stock market due to shifting odds of a Federal Reserve interest-rate increase and other macro challenges.
The stock market had a decent summer. Investors are bracing for a bumpier fall.
In the past couple of months, equity investors cheered soaring profits at big companies, shrugged off jitters in the bond market and nudged megacap tech shares back near records.
Now, as the post-Labor Day stretch begins, a number of new challenges lie ahead: ever-shifting odds of an interest-rate increase from the Federal Reserve. Sky-high expectations after a stunning earnings season. The persistent threat of higher consumer prices as fighting in the Middle East drags on.
“You’re moving from this earnings-driven market to this macro-driven market with the Fed, inflation and interest rates in focus,” said Keith Lerner, chief investment adviser for Truist Advisory Services. “It tends to be a choppier period.”
Historically, every major U.S. stock index experiences its worst average return in September. The Dow Jones Industrial Average has slid an average 1.1% in the ninth month of the year, in data that dates back to the 19th century. The S&P 500 has seen the same average decline—and for every September dating back to 1928, the benchmark ends the month lower more than half of the time.
Analysts caution against reading too much into those seasonal patterns. But in recent weeks, new reasons for investor caution have emerged. One of the largest: the looming threat of an interest-rate increase from the Fed, which announces its next policy decision on Sept. 16.
Chairman Kevin Warsh’s decision to ditch forward guidance and take more of his cues from markets has muddied the waters for investors when it comes to monetary policy. That has left traders scouring Fed governor speeches and economic-data reports for clues on the central bank’s next move.
“There’s going to be a lot of eyes on those numbers,” said John Luke Tyner, head of fixed income and portfolio manager at Aptus Capital Advisors.
The past couple of weeks offered just one example of how frequently those expectations can change. After Warsh struck a hawkish tone during remarks on Aug. 28, the odds of a hike at the Fed’s next meeting jumped from 35% before the speech to 58%, according to CME FedWatch data.
On Thursday, Fed governor Christopher Waller made a case for leaving rates where they are. Interest-rate futures showed coin-flip odds between a hike and a hold. Then Friday’s robust jobs report amped up rate-hike bets once more, back to a roughly 60% chance of higher rates after the meeting.
“Rates have really been driving the car for equities the last few weeks,” said Ross Mayfield, an investment strategist at Baird.
That uncertainty comes as an unruly bond market could put pressure on stocks. Treasury yields have marched higher for much of the summer, driven by concerns about rising oil prices, growing U.S. budget deficits and a deluge of tech-company bonds now competing for investors’ cash. Last week, the rout went global, pushing yields to multiyear highs in Japan, Germany and the U.K.
Higher bond yields can drag on stock prices and lift borrowing costs for companies and consumers across the economy.
Rising prices remain the top concern for bond traders, and continued fighting between the U.S. and Iran has done little to ease those worries. The national average price of diesel climbed to a record of $5.850 on Friday, according to AAA. That is up from $3.712 a year ago.
Investors will get more insight on the path of prices this week, with the much-awaited consumer-price index report due Friday and a reading on producer prices Thursday.
With another blockbuster earnings season in the books, some analysts have also warned that any boost from the third-quarter reports due in the coming months could be minimal. Back-to-back quarters of standout profits have raised expectations and made it especially difficult to impress traders. Custom-chip company Broadcom, for example, said Wednesday that it more than tripled its earnings and nearly doubled its revenue. Shares slipped 2.7% the next session.
Many analysts note there are plenty of reasons not to panic. The economy is in impressive shape, thanks to a healthy labor market and the rippling effects of the artificial-intelligence investment boom. Profits are booming at America’s biggest companies. The Cboe Volatility Index has dropped to its lowest levels of 2026. Credit spreads are tight, a sign bond investors aren’t concerned about economic conditions that could hurt companies.
But the mood has shifted from the euphoria that felt tangible when the Nasdaq was notching back-to-back records early this summer. The question, Mayfield said, is whether the fundamentals that have bolstered the bull market so far can stretch the rally into 2027.
“There are more anxieties or uncertainties about the backdrop,” he said. “It does feel like a transitional moment.”
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