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.
Turkish garment exporters saw shipments to foreign markets grow by 27 percent year-on-year from January to July, reaching $11.1 billion, boosted by a retail recovery in European markets.
Germany was the sector’s largest export market at $1.9 billion, followed by Spain at $1.5 billion and the United Kingdom at $1.2 billion.
Turkey’s garment exports could hit $20 billion by the end of the year, Burak Sertbas, chair of the Aegean Ready Wear and Confection Exporters’ Union, told a Turkish newspaper.
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Turkey’s Trendyol Raises $1.5 Billion, Valuing It at $16.5 Billion
The Alibaba-backed company has emerged as a leader in Turkey’s fragmented e-commerce market.
Local streetwear brands, festivals and stores selling major global labels remain relatively small but the country’s community of hypebeasts and sneakerheads is growing fast.
This week’s round-up of global markets fashion business news also features Senegalese investors, an Indian menswear giant and workers’ rights in Myanmar.
Though e-commerce reshaped retailing in the US and Europe even before the pandemic, a confluence of economic, financial and logistical circumstances kept the South American nation insulated from the trend until later.
This week’s round-up of global markets fashion business news also features Korean shopping app Ably, Kenya’s second-hand clothing trade and the EU’s bid to curb forced labour in Chinese cotton.