Cashmere Crisis

The world is troubled enough, it would seem, without having to suffer a cashmere crisis, too. This new dilemma may have escaped most Americans, but the effect is being felt right now by those who must shop for people who have everything--the people who can always use another cashmere sweater.

The troubles in Afghanistan and Iran have cut the flow of this luxurious woolen, the downy undercoat of the cashmere goat. And capitalism in China has curtailed the exporting of raw cashmere to American mills as Chinese entrepreneurs buy up their own supply for the manufacturing of finished goods. China has been the source of as much as 80% of the world’s cashmere.

The result has been a doubling of wholesale cashmere prices over the past two years, prompting an increase of 25% to 40% in retail prices this Christmas season, according to an article in the Washington Post that quotes the Camel Hair & Cashmere Institute of America. A fine cashmere sweater can cost from around $200 to more than $500. But at least one large national mail-order house is advertising Chinese-made cashmere sweaters at far lower prices.

The loss of imports is not the only problem that is facing the American cashmere industry. The Post article disclosed that one women’s coat maker has brought suit against two of this country’s cashmere manufacturers, accusing them of trying to corner the cashmere market. The charges were denied. And, with the soaring prices, the mislabeling of cashmere is on the increase. Some women’s coats that were on sale at fine stores in the East were labeled as 25% cashmere, but laboratory testing by the cashmere institute disclosed that the garments contained no more than 2% cashmere.

If all this is just too much for the 1988 shopper who wants to buy something incredibly warm and downy for a loved one, the only alternative maybe to get a puppy.