ANOTHER wool retailer has bypassed Australia for New Zealand.
In a decision likely to frustrate Australian Merino producers, United States giant wool sock supplier SmartWool, has signed a contract with the New Zealand Merino Company (NZM) to build up its orders and exclusively source Merino wool from it.
The company has indicated that this partnership would assist SmartWool meet its double-digit growth projected each year for the next three years.
“Around 20 per cent of the Merino and mid-micron clip between 18 and 26 micron will be in this one contract,” said NZM chief executive John Brakenridge in a statement last week.
SmartWool is expected to give more details about the volume and price projection for wool requirements this week.
Since 2001, the SmartWool contract has delivered more than NZ$100million in business to New Zealand wool growers.
The announcement came as the International Woo textile Organisation announced this week a new education project for wool in the interior textiles sector.
The project, to be executed in Christchurch, New Zealand, in April this year is expected to draw representatives from eleven of the world’s leading architects from Europe, Japan and United States.
The five-day event is aimed at promoting the benefits oaf using wool over synthetics in domestic and commercial buildings.