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Apparel business update, 2nd quarter 2008
published in Issue 2, 2nd Quarter 2008
Table of Contents
India’s Ministry of Finance has eased restrictions on Indian imports of apparel from Sri Lanka
Turkish sock manufacturers exported 1.5 bn pairs of socks in 2007
Vietnam’s apparel exports to the USA in 2008 are expected to be worth US$6.1 bn
Brazil is the most attractive emerging market for apparel retailers investing abroad
ACQUISITIONS, DIVESTMENTS AND MERGERS
Fast Retailing plans to consolidate three of its subsidiaries
Adidas and Vulcabras have set up two joint venture companies for the distribution of Reebok products in Argentina, Brazil and Paraguay
American & Efird and Vardhman Textiles have completed the establishment of a joint venture company in India
Benetton Group and Sears Mexico have entered into a partnership to sell Benetton products in Mexico
C&A is hiring staff in preparation for the opening of its first stores in Bulgaria
Fast Retailing and Wing Tai Retail have joined forces to open Singapore’s first Uniqlo store
Fujitsu will expand its sales of ultra-high frequency (UHF) band radio frequency identification (RFID) tags for garments to companies in China, Europe and North America
Gap and Fiba Holding will expand their franchise partnership to Russia
Marks & Spencer (M&S) has entered into two joint ventures to aid expansion in Eastern Europe and India
Tagsys has launched a new line of radio frequency identification (RFID) systems for the textile service industry
The government of Uganda has acquired a 50% share in a textile processing company to help the firm to gain a foothold in the international organic cotton market
The government of Vietnam wants to attract US$31 bn worth of investment to the domestic apparel sector by 2020
Zara has opened its first stores in South Korea and has started to expand into Bulgaria
Zerostock Retail plans to have 30 exclusive outlets in India for its Cornerstone men’s wear brand by the end of 2008
Brandix Group has opened Sri Lanka’s first converted "eco-factory" in support of Marks & Spencer’s "Plan A" initiative to reduce its carbon footprint
Bureau Veritas has opened a new textile testing laboratory in China
Keehwa Hitech has completed the construction of a new manufacturing centre for the production of laser cutters
Nilit has opened a new nylon yarn production facility in China
Toray has invested US$1 mn in Binh Thuan-Nha Be Garment
Van de Velde has selected a Lectra automated cutting system to improve its lingerie production
DSW has filed a lawsuit against Zappos
Quiksilver has won a trademark dispute against Kymsta six years after the original lawsuit was filed
CORPORATE SOCIAL RESPONSIBILITY
Inditex has demanded the closure of a manufacturing plant in Bangladesh following reports of poor working conditions
Invista has filed a lawsuit against DuPont for safety and environmental violations
The International Trade Union Confederation (ITUC) has criticised the working conditions of some major sportswear manufacturers
Abercrombie & Fitch has reported an 8% increase in total net sales during the first quarter of its 2008/09 financial year
Gildan Activewear has reported a 26.5% increase in sales during the second quarter of its 2007/08 financial year
H&M has reported an 18% increase in total sales excluding value added tax during the first quarter of its 2008/09 financial year
JC Penney has reported a 5.1% fall in total sales during the first quarter of its 2008/09 financial year
Marks & Spencer (M&S) has reported a 20.5% increase in its profit before tax for the whole of its 2007/08 financial year
Perry Ellis International has reported a 6.5% increase in its total revenues during the first quarter of its 2008/09 financial year
PPR has reported a 20% increase in revenues from continuing operations during the first quarter of 2008
TJX Companies has reported a 6% increase in net sales during the first quarter of its 2008/09 financial year
Denim by Première Vision is becoming a leading event for jeanswear and denim firms
The first Bridges of Fashion conference took place in Istanbul in June 2008 to draw attention to the advantages of the Turkish textile and clothing industry
The first ever combined ITMA Asia and CITME exhibition has attracted strong participation from European textile machinery manufacturers
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