Clothing Prices Increase As Cotton Prices Increase | News
Shoppers looking to update their wardrobes may find their money won't stretch as far.
Cotton has more than doubled in price over the past year, hitting all-time highs. The price of synthetic fabrics has jumped roughly 50 percent as demand for alternatives has risen.
Clothing prices are expected to rise about 10 percent in coming months, with the biggest increases in the second half of the year, said Burt Flickinger III president of Strategic Resource Group.
Brooks Brothers' wrinkle-free men's dress shirts now cost $88, up from $79.50. Levi Strauss & Co., Wrangler jeans maker VF Corp., J.C. Penney Co., Nike and designer shoe seller Steve Madden also plan increases.
More specifics on price increases are expected when clothing retailers such as J.C. Penney Co. and Abercrombie & Fitch Co.report financial results this month.
Several Twin Cities boutiques told 5 EYEWITNESS NEWS they haven't noticed significant price changes yet.
The Associated Press contributed to this report.