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.
More than 200 shopping malls had been looted by mid-Monday afternoon and retailers had lost an estimated 2 billion rand ($137.27 million) in the wake of protests that erupted in South Africa following the imprisonment of former president Jacob Zuma, according to a report in South Africa’s Business Tech.
Newsweek reports that numerous Johannesburg shopping centres were targeted by looters in areas including Benmore, Jeppestown, Vosloorus and Soweto, while stores east of Johannesburg shut down as shopping areas in Alexandra were also looted. Videos posted online show protesters leaving stores with furniture, electronic appliances and television sets, while police fired rubber bullets.
Walmart owned Massmart Holdings have halted operations during the protests, Bloomberg reported.
As of Tuesday, Reuters estimates that 30 people have been killed and 500 people have been arrested since Zuma handed himself over to authorities last week. The former president was sentenced to 15 months in jail last month by the Constitutional Court of South Africa after he failed to appear at a government-appointed commission investigating alleged corruption during his nine years in office.
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.