Daily Newsletter

03 June 2024

Daily Newsletter

03 June 2024

Egypt restricts future protests amid apparel wage increase backlash

The increase in Egypt’s minimum wage by 50% this year has been met with concerns from the private sector, including apparel, which already has had to deal with high inflation and a weak currency.

Paul Cochrane June 03 2024

Egypt is keen to prevent apparel sector protests or protests of any kind while the war in neighbouring Gaza continues. Credit: Shutterstock.

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Luxury Apparel Market Overview

Per GlobalData, the luxury apparel market was valued at $201.6 billion in 2023 and will grow at a CAGR of >5% during 2023-2028.. While macroeconomic difficulties in Western Europe and North America will impact luxury demand in the short term, countries in APAC and Eastern Europe will continue to emerge as burgeoning economies.

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