There is an odor associated with wet wool, sometimes described as a "wet dog", "burned", or "perm" smell. This particular smell of wet wool is present because we use natural merino wool that has been minimally processed in order to preserve the lanolin content inside the wool.
Lanolin is naturally present in merino wool and is responsible for giving wool all of the great properties that we love: wicks away sweat, resists stains, feels soft to the touch, stays elastic, and resists bacteria and odors. Wool is a natural product. Even if you have multiple products, one may have a higher lanolin content than the other, accounting for a difference in smell.
You should not notice this smell at all when the product is completely dry! Over time, the smell will be less and less noticeable after washing as the lanolin content in the wool dissipates.