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French market cashmere products prices bullish
French consumers have shown a growing passion for cashmere fashion, leading to a significant shortage of locally available cashmere raw materials. Industry experts predict that the price of cashmere fibers will rise by approximately 15% in 2011, which is expected to push up the cost of finished cashmere garments as well.
Once considered a luxury item reserved for the wealthy, cashmere products are now widely embraced by the general public in France. According to industry insiders, this surge in popularity is largely due to aggressive low-cost marketing strategies by major retailers and clothing chains, combined with colder winters that have increased consumer interest in warm, high-quality fabrics. Michel Guro, deputy general manager at Galeries Lafayette, estimates that 300,000 cashmere items were sold in 2010, marking a 30% increase from the previous year. This trend is expected to continue as the department store expands its children’s wear collection in 2011.
The French brand Eric Bompard reported selling over 500,000 cashmere sweaters in 2010, generating total sales of 65 million euros.
It is worth noting that more than 85% of the world’s cashmere comes from Inner Mongolia, China. Historically, Chinese cashmere was mainly exported to Scotland and Italy, where it was woven into high-end sweaters priced around 300 euros. Since the 1980s, European countries have reduced textile import quotas, prompting brands like Irebond and others to set up subsidiaries in China. These companies adopted a vertical business model—breeding, producing, and manufacturing their own cashmere—which helped balance the high cost of raw materials with lower production expenses. As a result, Irebond managed to cut the price of its cashmere products by two-thirds, becoming a key player in making cashmere more accessible to the masses.
Industry sources indicate that French consumers can still find cashmere sweaters priced between 50 and 100 euros today. However, rising demand has led to tighter supply, and stores like Spring Department Store are preparing to raise prices in 2011. Michelle Juro noted that while there were no supply issues in 2010, the sharp increase in consumer demand prompted Galeries Lafayette to start booking cashmere produced in the following spring.
Last fall, some department stores offered cashmere sweaters as cheap as 39.9 euros during promotional events. A representative from Irebond claimed such discounts were unusual, as cashmere comes in multiple quality grades, with significant price differences between them. Such promotions may intensify competition in the lower end of the cashmere market.