The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The African Continental Free Trade Area (AfCFTA), which brings together 54 African countries in a $3.4 trillion economic bloc that aims to eliminate 90 percent of tariffs on goods, officially launched on January 1, but is struggling to gain momentum in part due to the pandemic.
Signatories include South Africa, Kenya, Morocco, Egypt and Ethiopia, all of which are either emerging or established manufacturing and sourcing hubs for the apparel and textile industries.
AfCFTA’s efforts to break up trade barriers between countries could take over six months to come into effect, as Covid-19 has forced some African countries to close their borders to people and certain goods. This means the economic benefits of a free trade agreement may not be felt by garment workers for even longer.
This week’s round-up of global markets fashion business news also features Latin American mall giants, Nigerian craft entrepreneurs and the mixed picture of China’s luxury market.
Resourceful leaders are turning to creative contingency plans in the face of a national energy crisis, crumbling infrastructure, economic stagnation and social unrest.
This week’s round-up of global markets fashion business news also features the China Duty Free Group, Uniqlo’s Japanese owner and a pan-African e-commerce platform in Côte d’Ivoire.
Affluent members of the Indian diaspora are underserved by fashion retailers, but dedicated e-commerce sites are not a silver bullet for Indian designers aiming to reach them.