UK: Scottish textile firms launch Yarn Exchange
Caerlee Mills, Eribé Knitwear, Johnstons of Elgin, and Hawick Knitwear are among some of the members of the Yarn Exchange
Ten Scottish knitwear manufacturers have introduced an initiative to help textile firms overcome problems such as sourcing small batches by allowing them to buy and sell excess yarn on a new Yarn Exchange.
Yarn is very often sold in minimum order quantities, meaning that when a small amount is needed to produce a garment, manufacturers still have to buy large supplies.
However companies including Caerlee Mills, Eribé Knitwear, Johnstons of Elgin, and Hawick Knitwear are hoping to save thousands of pounds through selling their surplus yarn on the Yarn Exchange.
Members of the public can also buy through the Yarn Exchange.
Hugh Williams, co-ordinator of the South of Scotland Creative Clusters Project said: "The new Yarn Exchange will enable companies to convert their surplus yarn back into cash by offering it for sale to other textiles businesses. It will benefit both the buyers and the sellers. The sellers get the money and the buyers can access smaller quantities of affordable yarn."
Rosemary Eribé, director and founder of Eribé, said: "Not only is Yarn Exchange a great marketplace for buying and selling yarn and other materials, our members will also be able to interact with each other through their company profiles and our message boards."
The Yarn Exchange is supported by the South of Scotland Creative Clusters Project, an initiative managed by Scottish Borders Council in partnership with Business Gateway. It is part-funded by the European Regional Development Fund, while the ten textile companies supplied the remainder.
There are also plans to extend membership to the rest of the UK.
- SOURCING: Worldwide change in cost competitiveness
- Gap audits reveal compliance issues in Myanmar
- Water scarcity a challenge to cotton supply chains
- Li & Fung looks to new frontiers for growth
- ANALYSIS: Back-to-school spending a waiting game
- Adidas to use only Bluesign-approved chemicals
- Scientists hail first recycled cotton garment
- Accord and Alliance discord "a setback"
- Weak traffic slows sales for Abercrombie & Fitch
- Myanmar and US to develop labour rights initiative
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details
- Global market review of denim and jeanswear – forecasts to 2020
- Wool in the 21st Century: new prospects for a familiar fibre
- Global Database of the Top 1000 Cut and Sew Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details
- China - ISA Country Report