News | Page 5 of 20 | Fashion Blog

23DecDecember 23, 2024

UK Nov 2024 retail sales volumes up 0.2% MoM

UK retail sales volumes are estimated to have risen by 0.2 per cent month on month (MoM) in November, following October’s 0.7-per cent fall. Clothing stores sales volumes fell by 2.6 per cent MoM in the month, following October’s 3.5-per cent fall. This left clothing stores sales volumes at their lowest level since January 2022, with retailers reporting that economic factors were affecting sales. UK retail sales volumes are estimated to have risen by 0.2 per cent month on month (MoM) in November,...

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23DecDecember 23, 2024

India’s GST Council maintains RMG tax rates after industry opposition

GST Council, in its 55th meeting chaired by India’s Finance Minister Nirmala Sitharaman, decided to maintain the current tax rates on ready-made garments. The proposal included raising GST to 35 per cent on high-end garments but faced strong opposition from the textile industry. The meeting did not address or discuss the proposed tax hike. GST Council, in its 55th meeting chaired by India’s Finance Minister Nirmala Sitharaman, decided to maintain the current tax rates on ready-made garments. The proposal included raising GST to 35...

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23DecDecember 23, 2024

CARBIOS postpones construction of Longlaville PET biorecycling plant

CARBIOS has delayed its PET biorecycling plant construction in Longlaville by 6-9 months due to pending non-dilutive funding, targeting market readiness by 2027. With ~$96.51 million cash reserves, CARBIOS aims to secure financing and control expenses, ensuring liquidity. Interim CEO Philippe Pouletty announced strategic adjustments amid ongoing commercial discussions. CARBIOS has delayed its PET biorecycling plant construction in Longlaville by 6-9 months due to pending non-dilutive funding, targeting market readiness by 2027. With ~$96.51 million cash reserves, CARBIOS aims to secure financing and control...

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23DecDecember 23, 2024

China’s LEI drops 0.1% in Nov 2024, improves over six-month period

The Conference Board Leading Economic Index for China decreased by 0.1 per cent in November 2024, reflecting ongoing declines in consumer confidence, a weak manufacturing PMI, and logistics challenges. Meanwhile, CEI rose by 0.2 per cent, showing stronger current conditions. China’s GDP growth is projected at 4.8 per cent in 2024 and 4.5 per cent in 2025. The Conference Board Leading Economic Index for China decreased by 0.1 per cent in November 2024, reflecting ongoing declines in consumer confidence, a weak manufacturing PMI,...

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23DecDecember 23, 2024

Lindex launches climate-smart logistics hub for global growth

Lindex Group's €110 million (~$114 million) omnichannel distribution centre in Alingsas, Sweden, launched in Nov 2024, is the largest investment in its history. The 40,000 sqm, climate-smart facility, powered by solar energy, quadruples e-commerce capacity, supports global growth, and replaces two warehouses by 2025. Built to BREEAM-SE “Very Good” standards, it will save €10 million annually from 2026. Lindex Group's €110 million (~$114 million) omnichannel distribution centre in Alingsas, Sweden, launched in Nov 2024, is the largest investment in its history. The 40,000 sqm,...

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23DecDecember 23, 2024

Indian minister raises trade barriers issue with EU counterpart

Indian commerce and industry minister Piyush Goyal, in a recent video conference with Maros Sefcovic, European commissioner for trade and economic security, raised the issue of Indian industry facing barriers in the EU markets and urged the latter to address the problem. Both also discussed the progress of a proposed bilateral FTA. Nine rounds of negotiations related to the planned FTA are over. Indian commerce and industry minister Piyush Goyal, in a recent video conference with Maros Sefcovic, European commissioner for trade and...

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23DecDecember 23, 2024

BASF & partners collaborate for plastic circularity in Germany

BASF, Endress+Hauser, TechnoCompound, and German universities are enhancing plastic recycling through the SpecReK project, funded by Germany's BMBF. Using spectroscopy and AI, they aim to identify plastic waste composition in real time to improve recycled plastic quality. The €2.2 million (~$2.3 million) initiative supports the circular economy by advancing mechanical and chemical recycling. BASF, Endress+Hauser, TechnoCompound, and German universities are enhancing plastic recycling through the SpecReK project, funded by Germany's BMBF. Using spectroscopy and AI, they aim to identify plastic waste composition in real...

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23DecDecember 23, 2024

Political turmoil dents Bangladesh’s position in US apparel market

Political instability in Bangladesh has negatively impacted its position in US apparel market. Despite remaining the third-largest supplier, the turmoil has led to a noticeable decline in market share compared to previous years, culminating in a decrease in imports to $5.464 billion in Jan-Sept 2024. This trend highlights the broader implications of domestic issues on international trade dynamics. Political instability in Bangladesh has negatively impacted its position in US apparel market. Despite remaining the third-largest supplier, the turmoil has led to a noticeable decline...

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23DecDecember 23, 2024

Hermès opens revamped store in Shenyang, China

Hermès has unveiled its newly renovated store at MixC Mall in Shenyang, China, featuring a nature-themed design inspired by migrating birds and the changing seasons. The store, designed by RDAI, spans two floors and showcases Hermès' sixteen métiers with vibrant colours, textures, and dynamic partitions. The space also includes artworks from the Hermès dollection. Hermès has unveiled its newly renovated store at MixC Mall in Shenyang, China, featuring a nature-themed design inspired by migrating birds and the changing seasons. The store, designed by RDAI,...

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22DecDecember 22, 2024

Real US GDP increases at 3.1% annual rate in Q3 2024: BEA 3rd estimate

Real US GDP increased at an annual rate of 3.1 per cent in Q3 2024, according to the third official estimate. In Q2 2024, real GDP increased by 3 per cent. The increase in real GDP primarily reflected increases in consumer spending, exports, non-residential fixed investment and federal government spending. Imports increased as well. Real gross domestic income rose by 2.1 per cent in the quarter. Real US GDP increased at an annual rate of 3.1 per cent in Q3 2024, according to the...

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