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Mongolia produces roughly 40% of the world's raw cashmere, and Ulaanbaatar's factory-outlet stores — particularly Gobi Cashmere and Goyo — offer sweaters, scarves, coats, and blankets at a fraction of international retail prices. Shopping for cashmere is a quintessential UB experience.
Mongolia has produced cashmere for centuries — the fibre comes from the undercoat of nomadic goats that endure extreme winter temperatures. The modern cashmere industry developed in the 1980s with Soviet-built processing factories, and has grown into a major export sector since privatisation in the 1990s.