Paul Hooker, president of upscale bedding brand, Sferra, talks to Fox Business about the rough patch that has hit the bedding industry. The rough patch was caused by cotton prices hitting a historic, 100 year high. This, unfortunately, has made it hard for Hooker to find the softest cotton for the softest prices, something he and his company prided themselves on.
According to Hooker, it has become harder to negotiate cotton buying prices; negotiation has basically become nonexistent. Sferra has been forced to knock up product pricing so as to maintain the quality of their bedding just as many clothing companies, like Gap and JCPenny, have done. This is instead of switching to something cheaper like synthetic cottons and fibers.
Good news is, cotton farmers have started planting more cotton in hopes to get costs back to normal. Here's to hoping prices of cotton, gas, and coffee go back down!
