Wrap up warm

It’s no yarn. Already expensive cashmere sweaters and coats are due to cost even more, after the harsh winter in Mongolia desecrated a quarter of its cashmere-producing goats.

Marks and Spencer and other department stores will be left empty-handed, as the barometer in the region plunged to a perishing -45C this winter in the region - freezing 25% of the goats who either died from the cold or were eaten by local folk.

Increased demand and a lack of supply could drive prices up as much as 40% say some experts.

It comes as another blow to high street retailers, who already have to contend with potential increases due to a hike in cotton prices.

Victoria Stapleton, founder leading cashmere retailer Brora, said: 'Cashmere prices will have to go up between 10-20%. It is terrifying for nomadic herdsmen whose whole livelihood is based around the goats.'

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