The most-read stories on just-style this week include a look at the potential growth for smart garments and wearable technology, fashion brands indicating their support for talks to raise wages for Cambodian garment workers, and analysts’ thoughts on Tesco’s profit overstatement.
Smart garments and wearable technology set for growth
Long touted as “the next big thing”, wearable technology has until now been held back by concerns ranging from cost to style, comfort and privacy issues – and of course the limitations of the devices themselves. But the sector may finally be reaching the tipping point that moves it into the mainstream.
CAMBODIA: Fashion brands commit support for wage rise
Eight major fashion brands, including one of Cambodia’s biggest customers, H&M, have indicated their support for talks to raise wages for Cambodian garment workers – in line with efforts to improve supplier productivity.
Tesco update: What the analysts say
Tesco today (22 September) revealed a GBP250m (U$408.1m) profit overstatement in its first-half accounts, pushing shares down nearly 8% in early trading. The “serious issue” has resulted in the reported suspension of four senior executives. Tesco has now launched an independent review. Analysts offer their thoughts on the news.
BANGLADESH: Share of global garment exports set to rise
Bangladesh’s share of textile and garment exports is set to increase further in the next 16 years thanks to its low cost base and large working population, says a new report.
COMMENT: Brand issues add to woes for online retailer Asos
Just a week after Asos issued its third profit warning this year, reports at the weekend suggested a potential revolt from some of the brands it sells over its aggressive discounting – exacerbating issues already weighing on the online retailer.
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