By Glen Collins
November 17, 2015
Source: The New York Times
Photo Source: Unsplash, Rocknwool
A time of looming recession might seem a bizarre moment to open a high-end Manhattan store that sells a low-tech product: yarn. “But I see this as a perfect time,” said David Blumenthal.
“Knitting has always been recession-proof,” he explained. “In a recession, people are cocooning. So for $5 or $10 in yarn, you can have a great weekend and come away with a scarf that would cost $60 in a store.”
The privately owned, fourth-generation company has $100 million in annual revenues and sells its yarns to nationwide chains like Wal-Mart and Michael’s, and mails a million of its catalogs to enthusiasts twice a year. Mr. Blumenthal said that despite the economic downturn, sales have been rising at a pace to achieve a double-digit increase by the end of the year.
How else can you save this holiday season? Who is on your Holiday list? What other DIY project ideas do you have?
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