NEW ZEALAND: United States retailer Brooks Brothers has struck a $100 million deal with a New Zealand-based wool marketing group.
Under the terms of the agreement The Escorial Company has agreed to supply wool to the retailer's 260 apparel stores.
According to a report published by Fairfax New Zealand newspapers, the wool will first be sent to Italian fabric maker Loro Piana before going to the US for use in clothing.
In 2008 the 200-plus-year-old company teamed with Sydney headquartered group Australian Wool Innovation in a promotion of Saxon wool, part of which saw it create a film about the people, the animal, and the processes that go into making the natural fibre.
Escorial told Fairfax reporters the US deal was the first of several global agreements to be announced in coming months covering suits, jackets, sweaters, ties and scarves.