Last year Kathmandu launched a "Buy NZ Made" line of t-shirts made out of merino wool. Listed outdoor clothing firm Kathmandu has made 34 of its New Zealand workers redundant as it cuts costs and prepares a staggered opening of its physical stores. Kathmandu said it was using Government wage subsidies to "support its employees for as long as possible". Online sales across the group were up 2.5 to three times higher than the same period last year. Briscoe tried unsuccessfully to buy Kathmandu in 2015, but kept a cornerstone shareholding until recently, cutting its shareholding from 16.29 per cent to 6.771 per cent last month.

Source: Stuff May 04, 2020 21:08 UTC