Daily Digest

17 June, 2013

Spain’s Mango Takes on Retail Fashion Rivals Inditex and H&M

Source: Reuters

“Mango has pushed out to even more markets than its larger listed peer, which opened its first store about 40 years ago. It aims to continue expansion at the rate of more than four new stores a week, entering four new countries this year. It also said a new strategy to reduce production costs and prices of its clothes had halted a two-year profit fall, increasing net profit for 2012 by 82 percent to 113 million euros ($150.00 million).”

The Great Race for China’s Online Fashion Market

Source: South China Morning Post

“While the US has the largest and most established e-commerce market in the world, it’s no secret that Asia and, specifically, China, is catching up fast… When it comes to fashion retail, the strongest interest comes from China (54 per cent), followed by Thailand and South Korea. By the end of 2016, China’s e-commerce is predicted to be worth 2.8 trillion yuan (HK$3.5 trillion).”

Bangladesh Disaster Crushes Owner’s Ideal of Clothes With a Conscience

Source: Reuters

“The story of how that dream ended in the rubble of Rana Plaza, an eight-storey factory complex that collapsed in April killing 1,129 people in one of the world’s worst industrial accidents, is a cautionary tale for global retailers now scrambling to prevent another fatal accident in Bangladesh.”