cashmere

2 Stories

Cashmere Is Cheap These Days, but There's a Cost to That

Increased demand has taken an environmental toll on the lands where goats are raised

(Newser) - Buying a cashmere scarf or sweater was once a pricy purchase, but the cost of the luxe fabric has gone down in recent years. And according to NPR , the reasons why aren't so great. They caught up with landscape ecologist Ginger Allington, whose research has tracked something of a...

Banks Seize Herds as Recession Hits Mongolia

Badly managed loans and overconfidence in cashmere have Mongolians in default

(Newser) - Proving the recession is truly global, banks in Mongolia are threatening to foreclose on herders’ goats, sheep, and camels, the Wall Street Journal reports. Mongolians call it a financial “zud,” a local term for unusually devastating winters. Falling cashmere prices stemming from the West’s recession—the high-end...

2 Stories