Nearly a third of garment workers in the Philippines are expected to be on furlough until the end of the year due to weak demand resulting from the pandemic.
The trade conflict between the US and China could assist countries like Sri Lanka to raise exports, according to Teejay Lanka chairman Wing Tak Bill Lam.
The UK government has launched a new programme to help high street businesses to strengthen their global supply chains by supporting workers in developing countries during the coronavirus pandemic.
The Retail Industry Leaders Association (RILA), whose members include companies such as Walmart and Target, said Friday it has joined a dozen+ trade groups to form a coalition to fight counterfeits on online platforms.
As Marimekko announced a 20% fall in sales, it also said it’s planning to restructure its ops. It blamed the pandemic, saying the “global fashion and specialty retail sector is facing the worst crisis in decades”.
Marimekko, a Finnish lifestyle design company, has announced its second quarter (Q2) financial results for fiscal 2020. The company’s net sales fell 20 per cent to €23.3 million.
German online fashion retailer Zalando on Tuesday reported a more than doubling of sales on its site from brands seeking to expand their e-commerce presence, helping total second-quarter revenue jump 27%.
More British shoppers returned to the high street in July, helped by the reopening of pubs and restaurants, but numbers were still much lower than normal for the time of year, an industry survey showed on Friday.
Fashion conglomerate Shandong Ruyi has brushed aside a sale of textile maker Lycra proposed by Lycra's creditors and is instead looking to publicly float the business, two people with direct knowledge told Reuters.
Unifi, a leading innovator in recycled and synthetic yarns, posted a sales decline to $606.5m in fiscal 2020, which ended on June 28, compared to $708.8m last year. It saw a net loss of $57.2m.
The value of the world textile trade decreased by 2.4 per cent year-on-year to $305 billion, while apparel trade dropped 0.4 per cent.
A fresh wave of COVID-19 may worsen the situation of Vietnam’s textile and footwear industries, still reeling from the impact of the first.
What to do with China's abundant stock of coal? Chemicals giant Hengli plans to make clothes out of it. The firm has surprised observers by getting into mining with a $20bn project to convert coal into polyester yarn.
British department store group Selfridges warned Tuesday that it plans to axe 450 jobs after sales slumped due to the coronavirus and the aftermath of the nationwide lockdown.
Mukesh Ambani’s Reliance Industries Ltd will pay between 240bn and 270bn rupees ($3.2-$3.6bn) to buy the Indian retail chains owned by Future Group, Mint newspaper reported on Tuesday, citing two sources.
