Global news roundup
The following is a round-up of apparel and footwear news from the world's local media. just-style has not checked these stories so cannot guarantee their accuracy.
- Shanghai-based footwear retailer Daphne International Holdings plans to lay off 300 employees, with most of the job losses expected to be in its e-commerce business. However, the company has denied it will close the division, which has not hit its profit targets since being spun off in 2009. Some 290 staff have already been dismissed. THE GLOBAL TIMES
- Vietnam has become the second biggest footwear exporter to Colombia, with shipments reaching U$28m in the first five months this year - and accounting for 16% of Colombia's total footwear import value. Colombia imported a total of almost 25.7m pairs of shoes worth $177.2m in same period, according to the Colombian Association of Footwear and Leather Manufacturers. VIET NAM NEWS
- The Competition Commission of India (CCI) has rejected a bid by Indian conglomerate Aditya Birla Group to buy Kishore Biyani's Pantaloon fashion apparel business because it still needs approval from the boards of both companies. Aditya Birla and Pantaloon are expected to re-work the finer aspects of the deal, before submitting a fresh application to the CCI if both boards approve. THE TIMES OF INDIA
- Puma is set to open its first ever standalone sustainable store in Bangalore and will replicatethe format in other countries if it is a success. The store will include solar PV panels on the roof, an air tunnel for cooling and use shoe cartons instead of carry bags and organic cotton to make apparel. It will also be designed to make optimum use of daylight. Garments sold in store will be locally sourced and recycled. THE HINDU BUSINESS LINE
- The Indian government has raised this year's cotton export forecast by 10%to reach 12.7m bales because of increased demand from China. Exports, however, will not reach 13m bales for the year ending 1 October because of declining prices abroad, according to the Cotton Advisory Board. This is because imported cotton from Africa is cheaper than Indian cotton by 6-7 cents per lb. REUTERS
The most read stories on just-style this week include an analysis on the challenges of closing the loop in the apparel supply chain, a shift in Chinese cotton yarn orders from Pakistan to India, and t...
Chinese footwear and sportswear business Belle International has seen its share price fall today (21 February) after admitting its 2012 profit will be at the lower end of analyst expectations....
PPR is confident of continued growth in 2013, after posting a rise in 2012 net profit as strong sales of its luxury brands offset weakness in its sports division....
The most read stories on just-style this week include Puma launching its first closed-loop apparel and accessories collection, the global federation representing garment workers pledging its commitmen...
Sporting goods giant Puma posted a net loss in the fourth quarter of 2012, hit by a number of one-off special items which cost the business nearly EUR100m (US$134m)....
- China tightens on corporate social responsibility
- Marks & Spencer to extend mobile phone monitoring
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- H&M calls for annual wage reviews in Bangladesh
- New JC Penney CEO “credible but no solution”
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- Cambodia garment workers campaign for higher wages
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