It will unveil the full strategy before the next financial year begins on July 1.
It will respond to consumers’ concerns over plastics, micro-plastics and synthetics in what Cavalier sees as a reaction in favour of natural, sustainable products.
“For years manufacturers of synthetic carpets have been marketing their products by denigrating wool carpets,” chief executive Paul Alston said.
“We believe it is time to dispel the myths – wool is naturally resilient, hard-wearing, fire and stain resistant and easy to clean.”
Cavalier is working with New Zealand Merino and other advisers on a strategy that will go back to its roots as a wool-focused, design-led business.
It aims to be a NZ icon like Icebreaker and Allbirds.
Meanwhile, it declared an unaudited net loss after tax of $1.2 million from normalised earnings of $3m, excluding transformation costs.
The corresponding result in the 2018-19 first half was a net loss of $10m from earnings of $4.6m.
The share price has slowly fallen from 60c in late 2018 to about 30c.
