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.
- Myanmar’s garment exports reached a record of more than US$300m during the first quarter of the year, according to data from the Myanmar Garment Manufacturers Association (MGMA). This is almost double the figure reported in the same period of last year. US and European countries are increasing garment orders after trade and economic sanctions against Myanmar were lifted earlier this year. ELEVEN
- As part of efforts to boost exports, including textiles, Turkmenistan has launched a US$2bn plan to build a new port on the Caspian Sea. The port is expected to make it quicker for European countries to export to markets in the Middle East and increase capital investment in the region. Four port terminals will be built within four years, according to a government official. REUTERS
- Private equity fund CX Partners is in the late stages of finalising an agreement to buy Future Ventures’ 28.3% stake in women’s apparel manufacturer Biba Apparels for INR3bn (US$45.3m). Biba Apparels owns more than 100 standalone stores in India and is also available at multi-brand retail stores. The company is valued at more than INR9bn. THE ECONOMIC TIMES
