GLOBAL: Global Apparel Market Business Update 1st quarter 2010
US apparel sales were down by 5.2% in 2009 while clothing imports fell by 11.8%. By contrast, EU sales of textile, clothing and footwear were up by 2.6% in December 2009, and sales of fabrics, apparel and accessories in Japan by 7.0% in January 2010. Chinese clothing exports fell by 12% in January- November 2009 and…
Egytex News Desk
Source: marketpublishers.com
Gildan Activewear has ended its search for a low cost strategic location for the development of a "major vertically integrated manufacturing hub" in Asia by purchasing Bangladesh-based Shahriyar Fabric Industries. Phillips-Van Heusen (PVH) has acquired Tommy Hilfiger and become one of the world's largest apparel companies while Jones Apparel Group has bought Moda Nicola International (MNI). Iconix Brand Group has set up a new joint venture with Madonna, called MG Icon, while Iconix China has signed a deal with Eve NY to develop the Badgley Mischka brand in China. YMI Jeanswear and Stargate Apparel have signed a licensing agreement relating to YMI branded clothing for girls. Most of the North America-based companies featured in this report posted declines in net sales, including Abercrombie & Fitch (down by 16%), Gap (down by 2%), JC Penney (down by 5%) and Levi Strauss & Co (down by 7%). However, increases were achieved by Gildan Activewear (up by 20%) and TJX Companies (up by 7%). Increases were also recorded by all but one of the European companies featured in this report, including H&M (up by 15%), Inditex (up by 7%), and Marks and Spencer (up by 3%). The exception was Benetton Group (down by 4%).
New stores have been opened by American Eagle Outfitters and Bloomingdale's in the Middle East, and by H&M in Israel and South Korea. Uniqlo has opened a store in Russia and Jaegar has opened concessions in Harvey Nichols stores in the UK and Ireland. Looking ahead, there are plans to open Uniqlo stores in Taiwan, Gap stores in Australia and Italy, and Banana Republic stores in Italy. Marks and Spencer (M&S) aims to become the world's most sustainable retailer by 2015 while three organisations in Bangladesh have agreed to work together to improve environmental compliance in the country's textile and apparel sector. Meanwhile, the speciality store private label apparel retailer IT'S International has implemented radio frequency identification (RFID) technology across its supply chain.
Source: marketpublishers.com
From the Egytex news archive, first published on 2 June 2010. Figures and names are as reported at the time.
