Not exactly the same, but pretty similar task I have in recent renders.
See the image with attached material setup. Sorry, but can not share textures itself. Also adding you the result to see if its what you are lookin for.
Actually, you control 4 different colors which creates an effect of velvet. For your reference image you might need displace :)
EDIT: if anyone has comments for my setup, I would gladly appreciate, since project hasn't finished yet.