Fine and superfine wool prices soar
14/04/2008
In January, prices for cashmere recorded a minimal rise compared with July 2007, while mohair prices remained unchanged and alpaca prices fell moderately. Although there has been little change in luxury fibre prices so far this season, they have remained at relatively high levels.
In contrast, fine and superfine wool prices in US$ registered a steep rise. In January, both 18 and 19 micron category wool prices were at 100th percentile, reaching the highest level in US$ since February 1991.
A weaker rise in prices was reported for superfine wool (16.5 micron category), which rose only moderately, in the reporting period. However, the average January price was at a very high 98th percentile for the last decade.
Recent research on the luxury market in the US revealed that spending on luxury goods and services fell 20% in the second half of 2007 compared with the first half. The survey also showed weakening confidence among American luxury buyers.
However, there is more optimism in Europe, and HSBC states that robust demand from Asia, the Middle East and Russia should boost growth within the luxury goods industry. Italian fashion houses, including Giorgio Armani, Dolce and Gabbana, Gucci and Prada appear particularly confident about the coming year.
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