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Wool industry finds Olympics not a winner for sales
17 Aug 2004
Australia's lime-green Olympic team jackets may not have won unanimous praise from fashion pundits but the wool industry is happy to take any publicity it can get. The Woolmark Company said the bomber jackets at least had people talking about the fibre from which they were made - wool.
But it's questionable as to whether the talk would lead to additional sales. Consultant to the textile and fashion industries, Frank Kisvarda, said although the profile of wool is raised at each Olympics, it "doesn't go anywhere" in the intervening four years. He said products like Sportswool are still too expensive to gain broad market appeal.
Mr Kisvarda said demand for wool is constrained by its being targeted at high fashion, which is fickle. Faced with cheaper products such as synthetics and cotton, wool share of the global fibre market has fallen from 10 per cent in 1960 to 2.4 per cent today.
Australian Financial Review, 17/8/04.
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