Another factory has collapsed in Cambodia wounding 23, in the latest episode in a recent string of garment industry disasters. This factory was producing goods for Swedish retailer H&M. The structure that collapsed was a concrete and metal shelter where workers were resting during a break. Local police chief Hy Narin told reporters, "The shelter is old and it collapsed into the lake while … [Read more...]
Chinese Yuan Goes Up; Exporter Profits Go Down
May 21, 2013 by
Chinese exporters in the country's Pearl River Delta are trying to squeeze profits from their exports now that the Yuan has risen against the U.S. dollar. Although orders for April have spiked in the delta region, margins are now thinner because of the rising yuan. Data collected from some 2,000 companies in the delta area show April exports have increased a substantial 47.3 percent … [Read more...]
Editorial: New Bangladesh Deal Should Be Universal
May 21, 2013 by
Major retailers and brands are signing on to a new safety plan for Bangladesh, in a move that has been applauded by labor and consumer groups. H&M, Inditex, PVH (owner of Calvin Klein), Tesco, Tchibo, Primark, and C&A have agreed to sign the deal. Together, they make up a large percentage of total goods sourced from Bangladesh. H&M sources more goods from Bangladesh than any other … [Read more...]
China, Vietnam Gain Share of US Apparel Market in First Quarter
May 20, 2013 by
Apparel imports from Vietnam and China grew fastest in the first three months of 2013, giving these countries significant share gains in the US apparel market. Bangladesh and Pakistan also saw their exports to the US grow, though their increases were smaller. Total apparel import growth slowed in March, resulting in a 3% dollar value increase for the first three months of 2013 compared to the … [Read more...]
Cambodia Shoe Factory Ceiling Collapses; At Least Six Dead In Latest Industry Disaster
May 18, 2013 by
The collapse of an over-loaded floor in a Cambodian shoe factor is the latest fatal accident in a series of deadly fires and collapses in third world garment factories. Six workers are known dead in the disaster at a factory near Phnom Penh, the nation's capital. The factory supplied footwear to Asics Corporation, a Japanese company, which sells its products in the U.S. and … [Read more...]
Asulia Apparel Factories Reopen Friday
May 17, 2013 by
Apparel factories in Ashulia Industrial belt will be reopened on Friday after three days of indefinite shutdown enforced by the owners amid labor unrest. The owners announced the decision Thursday as the government assured that they could provide necessary securities to run the factories. A meeting was held at the Ministry of Labor and Employment on Thursday, with participation from … [Read more...]
Gap Wants Changes to New Safety Deal
May 16, 2013 by
Gap is refusing to sign on to a new safety agreement in Bangladesh, and Walmart is mute on the topic. Gap is calling for modifications to the dispute resolution aspect of the agreement. In a statement released May 13th, Gap said, "Gap Inc. is ready to sign on today with a modification to a single area – how disputes are resolved. This proposal is on the table right now with the parties … [Read more...]
2 Die In Cambodian Shoe Factory Collapse
May 16, 2013 by
The ceiling at a Cambodian shoe factory making Asics sneakers collapsed early Thursday, killing 2 workers. The accident spotlights continued safety problems in the garment industry. The factory, owned by a Taiwanese group called Wing Star, was located to the south of Phnom Penh. Shoes made at the factory are imported by the United States and Europe. The building where the collapse occurred was … [Read more...]
Breaking Down the New Accord on Fire and Building Safety in Bangladesh
May 16, 2013 by
A lot of ink has been spilled about the new Accord on Fire and Building Safety in Bangladesh, and two-dozen firms have signed on, but what does the agreement actually say? Gap has refused to sign because of a dispute resolution provision that it fears will create legal liability, and only one American firm has signed the deal at all - PVH, owner of Calvin Klein and other brands. Still, … [Read more...]
The E of the Tiger: China’s Online Purchasing Holds Ferocious Potential
May 15, 2013 by
The potential held by China's enormous population never fails to quicken the pulse of retailers. And e-commerce, especially via mobile devices, is one of the hottest avenues for doing business there. McKinsey & Company's Yougang Chen, principal, says e-tailing is generating significant incremental consumption. "It is bridging the consumption limitation gap between big and small … [Read more...]
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