Chanel Invests in New Zealand’s Lammermoor Station to Boost Premium Wool Exports

The Government has welcomed a new investment by French luxury fashion house Chanel in New Zealand’s premium agricultural sector.

Chanel has invested in a joint venture company to own part of and support Lammermoor Station in the central Otago high country, which produces fine wool for Chanel’s garments.

It comes as statistics from Land Information New Zealand (LINZ) show average timeframes to assess applications for business and productive forestry investments have decreased significantly since reforms began with the June 2024 Ministerial Directive letter.

Deputy Prime Minister David Seymour - who is responsible for overseas investment as Associate Finance Minister - says the new streamlined pathway allows low risk applications to be processed faster, delivering more investment to New Zealand.

The proof is in the investment pudding. While average end to end timeframes for business and production forestry applications before June 2024 were 67 working days, this has decreased to an average of 31 working days in the last 12 months.

Since the Amendment Act came into force, the average timeframe to grant consent for these types of investment under the new national interest test is now four working days.

These were common sense changes that improved the efficiency of the system, and give investors greater confidence, in turn delivering growth and jobs for New Zealanders.

Chanel’s investment in New Zealand is a great illustration of how overseas investment opens new doors for Kiwis, and a reflection that the world now sees New Zealand as open for business.

Economic Growth Minister Nicola Willis says New Zealand farmers produce some of the highest quality fine wool in the world, and the partnership with Chanel at Lammermoor Station helps cement the industry’s reputation for excellence.

This investment acknowledges the high quality of New Zealand’s exports. It allows Lammermoor to continue doing what it does best, retaining jobs and livelihoods in the process, and contributing to New Zealand’s export growth.

Land Information Minister Mike Butterick says Lammermoor is New Zealand’s largest organic farm and only certified organic fine wool producer.

The investment was granted under the Overseas Investment Act’s Benefit to New Zealand – farm land benefit pathway. The investment is expected to provide substantial benefit to New Zealand.

Chanel plans to build on Lammermoor’s organic status and achieve Regenerative Organic Certification (ROC). That would make Lammermoor the world’s first ROC fine wool-producing farm.

Achieving this certification would help to further boost the value of Lammermoor’s fine wool, increasing export receipts. It also boosts the reputation of New Zealand wool’s high quality and sustainable production.

Lammermoor’s New Zealand owners will hold a stake in the joint venture company with Chanel, and continue to live and work on the land.

It’s a win-win-win for Chanel, Lammermoor and New Zealanders.