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Article: Wool's pushing rugs up. (rising wool prices increase prices of imported area rugs)(Brief Article)
- Article from:
- HFN The Weekly Newspaper for the Home Furnishing Network
- Article date:
- October 2, 1995
- Author:
CopyrightCOPYRIGHT 1995 MacFadden Communications Group LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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New York - Overseas wool prices - from Australia and New Zealand to China - are increasing again, which could spell price hikes for imported area rugs in the United States.
Marketgoers may notice slightly higher rug prices at this month's International Home Furnishings Market in High Point, N.C. But larger price hikes - estimated by suppliers at anywhere between 5 and 10 percent - probably won't take effect until Domotex and the Atlanta Area Rugs Market in January.
"Wool prices have been going up, " said Amir Loloi, vice president of Feizy. "This probably will spell higher prices for area rugs in the future. We're trying not to pass too much of the increase ...