Australian Wool Innovation Limited reported that Korean retail sales have been upbeat during the Autumn/Winter season, assisted by the positive consumer confidence which prevailed for most of the second half of 2005.
In October and November, department store sales recorded further year-on-year growth. Sales at the top department stores - Lotte, Shinsegae and Huyndai - as well as at the supermarket chains rose on the back of greater demand for winter goods and foodstuffs.
According to anecdotal reports from apparel retailers, clothing demand remained strong during November, with sales of business suits in the middle price bracket and casual outerwear (woollen coats and sweaters) moving fast. Cashmere and silk blend clothing for the formal and elegant casual wear market also enjoyed strong sales.
Overall, retailers were fairly positive regarding clothing sales this winter and anticipate volumes will lift well above the previous winter season.
On the back of the improved sentiment at retailing, production levels in Korea's wool textile industry lifted slightly during November even though some of the improvement is also attributed to previous consolidation and downsizing of the domestic industry.
AWI first established as a subsidiary of Australian Wool Services in 2001. Than Australian Wool Innovation Limited (AWI) became a fully independent public company limited by shares and owned by Australian woolgrowers in 2002.
Australian Wool Innovation Limited
marketing@alchempro.com
