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Halit Gumuser is prone to speaking plainly and directly. “Challenging the innovation and [production] capacity of China is difficult,” concedes the chief executive of Turkish manufacturer Kipas Textiles, a supplier to online fashion giants like
As supply chains remain under pressure, garment manufacturers have an opportunity to lean into vertical integration, nearshoring and small-batch production, while seeking closer upstream and downstream collaboration, according to The State of Fashion 2023.
Western brands shifting supply chains away from China hope to reduce disruptions caused by geopolitical tensions but ‘friendlier’ sourcing hubs aren’t always feasible.
The country’s currency, the lira, has lost almost half its value against the dollar so far this year, and inflation is rising precipitously.
Brooke Roberts-Islam is a contributing writer for The Business of Fashion. She is based in London, England and is an author, public speaker and journalist with a focus on sustainability and technology.
The escalating US-Israel conflict with Iran is rattling the aura of stability created by Dubai and the wider region, threatening one of the industry’s few bright spots.
Escalating conflict in the Middle East is causing major disruption and store closures for high-end and mass-market retailers, threatening a key growth engine for the global luxury industry.
This week’s round-up of global markets fashion business news also features Sri Lankan apparel manufacturers, Vietnam’s textile exporters and Korean brands in China.
Regional business activity has been disrupted after Iran launched strikes across Gulf nations in response to the US-Israeli assault on Tehran, triggering airport closures or restrictions in Dubai, Abu Dhabi and Doha.
The underwear company is anticipating net sales of at least $6.85 billion in the current fiscal year, exceeding analyst estimates and marking the highest revenue since its split from L Brands Inc in 2021.
The Japanese brand is accelerating its expansion in India to capture a greater share of the rapidly growing apparel market and affluent consumer base.
Strong growth at Miu Miu helped lift results, but the Italian luxury group said that integrating Versace will weigh on margins in the near term as it begins the turnaround of the struggling brand
Activist fund Oasis Management Co. is calling on the Japanese personal care company to convene an extraordinary general meeting, seeking a probe into its supply-chain risk management and internal control.
