VF Corporation has committed to a sourcing framework for the long-term supply of the ZQ certified merino wool.
NZM chief executive John Brakenridge said the agreed framework was one of the biggest wool partnerships in New Zealand history and is estimated to be worth more than a quarter of a billion dollars for ZQ farmers over the next five years.
“The long-term wool contracts offered to NZM’s ZQ farmers, such as the three-year contracts with Smartwool and the world’s first 10-year contract with Icebreaker, mean farmers can produce ‘fit-for-purpose’ fibre.
Senior executives from VF Corporation were in the country last week to meet with farmers, and to finalise the key elements of the agreement.
VF Corporation’s vice president, global procurement Tom Conneen said the partnership aligned with the company’s values and commitment to positively impacting the global community.
“Globally we want to power movements of sustainable and active lifestyles for the betterment of people and our planet.
“This agreement will be a great example of us leading with our commitment to ZQ-certified merino wool and the people within the ZQ community, ” he said.
VF Corporation and NZM are also working together on a range of projects and initiatives that will help inform future practices and verify sustainable production of merino wool via the ZQ programme.