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.
NEW YORK, United States — The US National Retail Federation (NRF) said on Friday it is "unrealistic" for American retailers to move out of China, the world's second-largest economy, as 95 percent of the world's consumers live outside the United States.
"Our presence in China allows us to reach Chinese customers and develop overseas markets," NRF Senior Vice President for Government Relations David French said in a statement.
"This, in turn, allows us to grow and expand opportunities for American workers, businesses and consumers," he said.
French said US retailers have been diversifying their supply chains for years but finding alternate supply bases is a "costly and lengthy process that can take years."
ADVERTISEMENT
Earlier, President Donald Trump said he has ordered American companies to exit China after Beijing unveiled retaliatory tariffs on $75 billion in U.S. goods.
By Nandita Bose; Editor: Cynthia Osterman
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.