Do what you love; you'll be better at it. It sounds pretty simple, but you'd be surprised how many people don't get this one right away.
Coats are my favorite thing, and it's always cold in England. I'm comfortable spending a bit of money if you know you're going to be wearing it 10 years later.
Local companies don't have to internalize their costs, and few actually do, but they tend to more often because the owners live there and they have to show their face in town, and their kids play with other kids.