Week in review: New year, same old apparel sector?
As we move into the third week of the new year and Blue Monday, the apparel sector is still struggling with the same familiar problems, but it's not too late to start again.
15 January 2024
15 January 2024
As we move into the third week of the new year and Blue Monday, the apparel sector is still struggling with the same familiar problems, but it's not too late to start again.
The US Department of Labor has allocated up to $12.4m in grant funding to three organisations to help fight child and forced labour in Mexico and support migrant worker rights.
The US fashion industry continues to develop a joint approach with the US government to focus on high-risk trade from Uyghur forced labour without stopping legitimate trade.
The most talked about X posts of the week in the apparel sector came from Fashion For Good and Authentic Brands Group and there was also a big tech reveal from Walmart at CES.
New technology shared by Walmart Inc at the Consumer Electronics Show (CES) in Las Vegas will enable consumers to share virtual outfits with friends.
Biomaterials company Sqim, formerly known as Mogu SRL, has closed an €11m ($12m) funding round to expand the company's industrial scale-up of mycelium-based technologies and accelerate research and development.
Egypt is opening what it claims to be the world's largest spinning and weaving factory next month with investments exceeding $38bn, according to local news reports.
The Indian Minister for Textiles, Consumer Affairs, Food and Public Distribution and Commerce and Industry, Piyush Goyal shared his vision and new ideas for branding and promoting Bharat Tex 2024, emphasising the importance of widespread "inclusivity."
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Global menswear market is expected to grow at a CAGR of more than 4% by 2027, as consumer confidence takes time to rebuild following inflationary pressures. The popularity of the resale market will also somewhat hinder menswear retail growth, as more shoppers will divert spend away from traditional retailers and brands to secondhand channels, in a bid to save money and protect the planet.
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