Report on Details of Our Global Apparel Market
In other developments, Brandix Apparel India and Ocean India have started up production at Brandix India Apparel City (BIAC)-a textile and apparel industrial park set up by a Sri Lankan company. Gucci owner PPR will sell its retail chains as part of a long-term plan to focus on its clothing businesses, and Asia Pacific Leather Fair (APLF), the organiser of Prime Source Forum, has launched an online forum called Prime Source ThinkTank.
In announcing their financial results, most of the North America-based companies featured in this report posted declines in net sales, including Abercrombie & Fitch (down by 15%), Gildan Activewear (down by 17%), JC Penney (down by 3%), Levi Strauss (down by 6%) and Perry Ellis (down by 20%). However, Gap (up by 1%) and TJX Companies (up by 10%) achieved increases. Several European companies also recorded increases, including Asos (up by 47%), Benetton Group (up by 13%), Inditex (up by 6%) and Marks & Spencer (up by 3%). Meanwhile, Italy-based Yoox has started to trade on the Milan Stock Exchange.
Developments in trade include a 15% rise in Vietnam's clothing exports to Japan during January-October 2009, but the industry is failing to meet growing export orders due to labour shortages. Elsewhere, the Andean Trade Preference Act (ATPA) has been extended by one year, the EU and South Korea have signed a free trade agreement (FTA), and talks have begun with a view to establishing an FTA between South Korea and the USA.
New stores have been opened by Abercrombie & Fitch in Japan, H&M in Egypt, Mango in Iraq, Marks & Spencer (M&S) in India, and Zara in the USA. Meanwhile, plans are underway to open Gap stores in China, Uniqlo stores in Russia, Benetton concessions in Colombia, and MNG by Mango concessions in JC Penney stores in the USA.
In research and development, India's Apparel Export Promotion Council (AEPC) has opened a new knitwear technology centre in Tirupur, India, while Tukatech and the Institute of Apparel Management (IAM) have opened a new "digital fashion" laboratory, also in India.
POST: 2024-05-13
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Fashion News
- The Tech World Gets a Fashionable Upgrade Thanks to Jeffrey’s New Palo Alto Store
- 3 Fancy But Easy BBQ Recipes to Grill Before Summer Is Over
- Meet the Women Changing Argentina’s Wine Industry
- Twice Reveals a New Album—And the Secret to Their Selfie-Ready K-Pop Style
- How 3 Indie Labels Built Seoul’s Reputation for Radically Cool Shoes
- Meet the It-Brit Milliner Whose Fabulous Faux Fur Creations Are Taking Over London