Until privatization was complete in 2007, the Mongolian cashmere industry proved resilient and started to recover, however this was mostly due to a decline in the price of cashmere that resulted in an increase in raw, unprocessed cashmere exports. When the privatization of Gobi was complete, the new owners were keen to add more value to the company’s products in Mongolia, and create a new brand image synonymous with luxury and based on one of the country’s oldest corporate names.