The following is a roundup of apparel and footwear news from the world’s local media. just-style has not checked these stories so cannot guarantee their accuracy.
- Chinese athletic footwear and apparel maker Li-Ning Co plans to invest $10m in its US business and expand hiring, according to CEO Zhang Zhiyong. Li-Ning also plans to widen its US distribution through a joint venture with brand-consulting firm Acquity Group. Zhang said the goal is to build US sales to $50m in 2011. Of its $1.2bn revenue in 2009, just 1% came from outside China. THE WALL STREET JOURNAL
- The government of the Philippines is hopeful the Save Our Industries Act or SAVE Act will be refiled when the US Congress resumes this quarter. The Act would enable apparel made in the Philippines from American yarns and fabrics to be exported to the US duty-free. The government is spending part of the PHP600m (US$13.5m) fund of the Garments and Textile Exports Board to bankroll efforts to lobby for the passage of the bill. MANILA BULLETIN
- The Mexican Ministry of Economic Affairs is continuing its anti-dumping investigation into denim fabric from China. The investigation covers tariff lines HTSMX 5209.42.01, 5209.42.99, 5211.42.01 and 5211.42.99 which are alleged to have been exported from China at prices below the cost of making the product. CHINA TRADE INFORMATION
- Efforts to find a buyer for bankrupt east Hungarian shoe maker Maroscipo Kft have ground to a halt after the company’s liquidator failed to attract any bids at the HUF50m (US$247,000) asking price. The price for the firm’s three 1,000-sqm properties has already been cut from HUF160m a year ago. The company employed over 200 staff in the 1970s but never recovered after one of its largest clients in Germany moved production to Asia in the 90s. BUDAPEST BUSINESS JOURNAL
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