NZ Merino inks 5-year, $45M contract with Italy's Reda, supplier to Armani, Gucci

Tue, 31 May 2016

By Tina Morrison June 1 (BusinessDesk) - The New Zealand Merino Company, which markets the nation's wool to customers on behalf of suppliers, has signed a five-year, $45 million deal to supply fine wool to Italian luxury fabric manufacturer Successori Reda, its longest-ever contract. The fixed-price contract for 2,500 tonnes of fine wool in the 15.8 to 19.2-micron range effectively locks up supply for all of the qualifying wool that New Zealand will produce over the five-year period, said NZ Merino chief executive John Brakenridge. Previo...

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