26 Jun '11, 8am

Hong Kong tailors tighten belts as wool costs rise

Hong Kong tailors tighten belts as wool costs rise

HONG KONG : Just as customers had begun returning to Vijay Sadhwani's Hong Kong tailor shop after the spasms of the world financial crisis, his business suffered another setback -- the rocketing price of wool. Growing demand from newly wealthy places such as China and crunched supply caused by years of farmers abandoning the sector because of its poor rewards have resulted in a doubling in the price of wool over the past 12 months. "This time it's quite serious actually -- the price of wool, cotton, everything has gone up," Sadhwani, who owns OM Custom Tailors in Hong Kong's Kowloon district, told AFP. "It's had a big impact on us and we have to absorb a lot of the increase." Customers at Hong Kong's myriad tailors range from one-hit backpackers on their way to an English teaching job in Asia, to high-flying city types who need wardrobes full of tailored threads. Prices fo...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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