Friday, April 20, 2018

Why a Cashmere Sweater Can Cost $2,000 … or $30

A plain, yet meticulously crafted, sweater made of the world’s finest cashmere can cost $2,000 or more from premier fashion labels such as Loro Piana. You can also grab a simple sweater of 100 percent cashmere off a discount rack at Uniqlo for as little as $29.90.

Made from the softest wool produced by certain breeds of goats, such as the Zalaa Ginst white goat and Tibetan Plateau goat, cashmere was once reserved for the wealthiest fashionistas. (Napoleon Bonaparte’s wife helped popularize the fabric.) But over the past two decades, its cachet skyrocketed and cheaper garments flooded the market.

Nearly $1.4 billion of cashmere garments were exported globally in 2016, up from $1.2 billion in 2010, according to United Nations trade data. That's nearly 5 million kilograms worth of pullovers, cardigans, and other tops. Now it’s seemingly everywhere, at every price point. Ubiquity can spell trouble for a product as it becomes more of a commodity, especially one that’s been historically marketed as a luxury item.

So what makes one sweater better than another? The price depends on the quality of the yarn, where the garment was manufactured, the number of units purchased by the brand, and the markup.  (...)

Cashmere goats are bred in various locations around the world, including Australia, China, and Mongolia, but Scotland and Italy are known for cashmere-manufacturing prowess. Luxury fashion houses such as Loro Piana and Brunello Cuccinelli depend on the expertise of their workers to wash, treat, and refine the fabric. Cashmere, for instance, repels a lot of dye. Italy, however, has developed ways to achieve strong saturation.

Not every manufacturer takes such care. Blended versions of cashmere sweaters, available at most retailers these days, can contain varying quantities of the fabric. In some cases, as little as 5 percent of a garment is made from the good stuff, with the rest a combination of mass-market fabrics such as polyester or nylon. The product is still marketed as a “cashmere-blend.”

Occasionally, even fake cashmere makes it to store shelves. "There is certainly fraud on this front,” says Frances Kozen, a director at the Cornell Institute of Fashion and Fiber Innovation. Deceitful sellers and counterfeiters sometimes create cashmere blends labeled 100 percent cashmere that contain wool, viscose rayon, and acrylic—and possibly even rat fur, she says.

by Kim Bhasin and Justina Vasquez, Bloomberg | Read more:
Image:Alessia Pierdomenico/Bloomberg