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.
- Reliance Retail is in partnership talks with several international retailers that are looking to enter India. Following the relaxation in FDI rules, which will allow 100% foreign direct investment in single brand retail, up from 51% previously, the head of Reliance Retail’s lifestyle division, Bijou Kurien, said foreign single-brand players prefer moving into India with a lower stake because of the benefits of tying up with a local partner. WALL STREET JOURNAL.
- Textile and footwear businesses in Vietnam are facing a slump of between 20-30% in export orders for the next year as major foreign buyers struggle with the economic slowdown in developed markets. A large number of manufacturers have been scaling down their production over the past months as they have faced difficulties finding funds and seeking buyers. Some exporters have had to extend shipping to new markets like Australia, Africa, Canada and South Korea. VIETNAM NEWS BRIEF SERVICE.
- Koutons Retail India has shut 150 more shops, mainly its casual men’s wear brand Charlie Outlaw, as part of its ongoing reorganisation. The debt-saddled company is striving to meet conditions of its corporate debt restructuring package approved by the Reserve Bank in September. The company is now focused on promoting the Koutons brand. THE ECONOMIC TIMES.
- Vietnam has seen exports to Germany rise 45.2% between January and October to $2.64bn. Apparel exports rose 40.6% over the period to $458.06m, with footwear up 14.5% to $311.78m VIETNAM NEWS BRIEF SERVICE.
- Norwegian textile company Protex has opened a new head office in the Estonian city of Pärn. The company, which manufactures sports wear, casual wear, lingerie and promotional clothing for Nordic brands, will employ 145 staff at the site. BALTIC-COURSE
Go deeper with GlobalData
