A huge increase in super fine wool production in Australia had put downward pressure on prices and it had been a difficult period for super fine growers, Mr Brakenridge said.
The contracts follow a visit by Loro Piana representatives to New Zealand in October last year, when the company hosted international journalists for the world wool record bale event in Queenstown.
The winners were Robert and Pamela Sandlant, of Victoria, Australia, whose 11 micron bale was matched in fineness by a bale from Barrie and Yvonne Payne, from Visulea, near Timaru, but was just pipped for average length and strength.
At that time, Pier Luigi Loro Piana, deputy chairman of the company, urged fine wool growers not to give up. They needed to persevere with quality breeding and preparation of super fine wools and be selective about the quality they produced and the companies they partnered with, he said.
Loro Piana specialises in luxury wool and cashmere products. In 2013, LVMH Moet Hennessy Louis Vuitton paid 2 billion ($NZ2.94 billion) for a majority share in the company which, until then, was owned entirely by the Loro Piana family.
Its partnership with NZM began in 1997 when the first record bale - the finest bale of wool produced in the world in any one year - was sold.
Chief executive Matthieu Brisset, who visited New Zealand for the first time in October, said he was ''blown away'' by the passion and skill evident in producing quality wool.
''We heard from the younger generation of growers some of the challenges they face. This is so important to understand as they need to invest in and protect their future as we need to invest in and protect ours,'' he said.
Growers needed to know Loro Piana was ''here for the long term''.
