Global news roundup

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.

• Thailand’s textile and apparel exports are set to rise by 15.2% this year to US$7.5bn, industry executives say, but warn appreciation of the Thai currency and rising cotton prices are likely to eat into the industry’s profits. The Ministry of Industry also believes the Thai textile industry should try to increase its share of the ASEAN market ahead of the free flow of goods and integration of the ASEAN Economic Community (AEC) in 2015. Teaming up with other ASEAN member countries will help offset currency volatility and solve material shortages. NATIONAL NEWS BUREAU OF THAILAND

• The managing director and CEO of Pantaloon Retail, India’s largest listed retailer, has become a member of the New York Fashion Advisory Board.  Kishore Biyani was invited by New York City Economic Development Corporation (NYCEDC) to the post. The board works directly with New York City Mayor Michael Bloomberg on issues affecting the city’s fashion industry. THE ECONOMIC TIMES

• Bangladesh Commerce Minister Muhammad Faruk Khan says the government is considering forming trade unions in all industrial organisations, and that “workers’ welfare would never be compromised or neglected.” Speaking at a seminar organised by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), he also said the government would not tolerate “any vandalism in industrial sector,” particularly in the garment industry. BANGLADESH NEWS 24

• The largest polyester manufacturer in north east China has been shut down and its fixed assets, valued at CNY290m (US$43m), put up for public auction. Heilongjiang Longdi Company Limited was the country’s fourth-largest industrial fibre producer, with an annual output of 170,000 tons of PET melt capacity, but was unable to pay back loans and interest. CHINA CHEMICAL FIBERS

• Indian apparel manufacturer and retailer Cantabil plans to enter the sportswear market in the next two years. The company currently sells casual and formal wear for men, women and children under the ‘Cantabil’ and ‘La Fanso’ brands. It also hopes to raise INR105 crore through an initial public offer (IPO), which will fund a new manufacturing unit and expand its retail network of 411 shops. THE ECONOMIC TIMES

• Italian fashion retailer Sixty Far East Limited, owner of the Miss Sixty, Energie and Killah brands, is negotiating with Central Marketing Group (CMG) to produce some fashion items, especially T-shirts, for the Asian market. The company is said to be considering sourcing from Thailand again as production costs and wages in China increase. BANGKOK POST

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