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 country’s exports of textiles and garments brought in $2.6 billion last month, its ministry of industry and trade revealed. It estimated that Vietnam’s fabric production was up over 20.4 percent year-on-year, Fibre 2 Fashion reported.
Vietnam is among the countries benefitting from the accelerated offshoring of manufacturing from China to countries with cheaper labour, such as Cambodia and Bangladesh.
Even so, Covid-19 will continue to impact Vietnam’s garment industry until 2022, depending on when a vaccine is made available in the country, said Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association. With purchasing power tempered by the pandemic, businesses are faced with the challenge of adapting to new business models and supply chain structures in their local and global markets.
Chanel, Louis Vuitton and Tiffany & Co are among the brands expanding in Perth, Australia in a bid to tap its mining, oil and gas wealth and newfound status as a travel hub.
This week’s round-up of global markets fashion business news also features Haiti’s sourcing crisis, Brazilian jewellery giant Vivara and Dubai’s Ramadan shopping season.
This week’s round-up of global markets fashion business news also features Supreme’s long-awaited Shanghai flagship opening, India imposes MIP on undervalued imports of synthetic knitted fabric and striking Sri Lankan workers continue to protest.
Imran Amed shares his observations from a trip to the wealthy desert metropolis, home to the most lucrative stores for many of the world’s top fashion brands.