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.
Textile and apparel exports from Egypt are likely to see a decline this year as several manufacturers, especially in the cotton textiles industry, have reduced production, reports Fibre2Fashion. In February, Egyptian member of parliament, Enas Abdel Halim confirmed that 30 percent of the country’s textiles factories have closed as a result of the recession and deteriorating economic conditions in the country exacerbated by the pandemic.
Egyptian textile and apparel exports declined 29 percent to $2.3 billion in 2020 and, according to Fibre2Fashion, exports are expected to drop 15 percent to $1.9 billion in 2021. Just-Style reports that the country’s plans to attract foreign investment in its garment and textile manufacturing companies have been delayed as a result of the pandemic, but the government is investing in the industry’s growth by acquiring new machinery to modernise ginning mills. Last year, Cairo-based The Holding Company for Cotton, Spinning, Weaving and Clothes signed a contract to establish a new spinning factory in Egypt, anticipated to be one of the largest spinning factories in the world with more than 182,000 spinning wheels and an average production capacity of 30 tons per day.
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.
This week’s round-up of global markets fashion business news also features Brazil’s JHSF, the Abu Dhabi Investment Authority and the impact of Taiwan’s earthquake on textile supply chains.
This week’s round-up of global markets fashion business news also features Dubai’s Majid Al Futtaim, a Polish fashion giant‘s Russia controversy and the bombing of a Malaysian retailer over blasphemous socks.