Growing political risk for 80% of top apparel sourcing countries outside China
Rising political tension is overshadowing the trend for friendshoring within the apparel sector with civil unrest unlikely to subside in key garment hubs in 2024.
18 January 2024
18 January 2024
Rising political tension is overshadowing the trend for friendshoring within the apparel sector with civil unrest unlikely to subside in key garment hubs in 2024.
British retail group Frasers is reportedly in talks to buy Dutch stores of the recently bankrupt Unlimited Sports Retail group.
German biotech company, AMSilk and 21st.BIO, a bio-production firm, have joined forces to scale AMSilk's spider silk protein production to meet growing demand.
Supply chain traceability provider TrusTrace is racing toward its goal of global expansion with $24m in funding from circular economy growth investor Circularity Capital and participation from existing investors Industrifonden and Fairpoint Capital.
The European apparel and textile industry confederation (EURATEX) along with 22 industry associations have recently sent another joint letter to the three European Union (EU) and Mercosur leaders, urging them to finalise the EU-Mercosur trade negotiations on the remaining open points urgently.
Hugo Boss has booked a 13% jump in group sales to €1.17bn ($1.27bn) for the fourth quarter as EBIT rose 17% to €121m on the back of strong brand momentum and successful execution of its Claim 5 strategy.
British retailer Marks and Spencer (M&S) has teamed up with integrated planning software provider, o9 Solutions to support the store’s Clothing & Home business with a digital transformation of its end-to-end planning systems.
Spanish fashion retailer Mango has joined forces with Universidad Politécnica de Madrid (Technical University of Madrid) to implement a sustainability training programme for more than 250 employees such as designers and buyers on recycling processes and the latest developments in sustainable materials and fibres.
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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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