Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Merino New Zealand Socks It To The U.S.A.


John Brakenridge, CEO of Merino NZ, with a pair of SmartWool Socks

More than 12 million Americans will shortly be wearing New Zealand merino socks pursuing their active, outdoor, lifestyle activities. This contract is worth approximately $14 million to New Zealand. Merino New Zealand has just facilitated a three-year contract with the United States-based Smartwool, to supply merino wool, to manufacture 12.5 million pairs of quality socks, for skiers, runners, cyclists, triathletes, hikers and walkers. The United States ski team wears Smartwool socks. John Brakenridge, chief executive of Merino New Zealand, said that this contract was significant for the New Zealand merino industry for several reasons. "We have been able to lock in prices for our growers, for the full three years at a 10-year high. This will allow growers to plan with confidence for the future. "The fibre is at the stronger edge of the clip in the 22 to 24 micron range, an area identified by international consultants, McKinsey & Co., as difficult to market.

This contract could absorb New Zealand's total production of this sector of the merino clip, for these three years and will quickly expand into demand for finer New Zealand merino (18 - 19 microns) for the adventure clothing sector. Marlborough farmer and Merino New Zealand Board member Ron Small says that for merino farmers in such drought and fire ravaged areas such as Marlborough, this contract is extremely good news.

This move into the United States follows the successful launch of New Zealand merino into some of Europe's most exclusive markets. Peter Duke, president of Smartwool, said that after just one hour with Merino New Zealand he knew he had a partner with whom his company would be able to work closely with. John Brakenridge echoes this partnership idea. "Smartwool saw us as having complementary marketing skills, grower infrastructure and innovation whilst they have the product knowledge and huge potential market that will enable both of us to be successful. "Two of the other great advantages are that Smartwool are going to promote their socks with New Zealand merino as the key ingredient, which will give our fibre tremendous exposure in one of the world¹s most exciting niches and they are also looking to introduce a leisure range of clothing using New Zealand merino. "This initial contract could be just the tip of the iceberg. The market segment in which Smartwool operates is dominated by high income, outdoor-loving, consumers. Many in this sector are being introduced to merino for the first time. Until now they have only known synthetics and they are falling in love with natural fibres such as merino," John Brakenridge said.

Further information: John Brakenridge, ph 377-7990; 021-454-607


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news