Top stories this week on just-style include a look at why sporting goods retailers are struggling despite strong growth in US sportswear sales, the latest efforts by Ralph Lauren to restructure, plans by Sri Lanka’s MAS Holdings to open its first US production and development centre, and a pledge by H&M to use 100% sustainably sourced materials by 2030.
Why US sporting goods retailers are struggling
Despite strong growth in US sportswear sales, sporting goods retailers are struggling as consumers change their purchasing habits, sportswear brands focus more on direct channels, and new players enter the market. Ayako Homma, senior research analyst for apparel and footwear at Euromonitor International, takes a closer look.
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Ralph Lauren to cut jobs amid $140m savings
As part of its efforts to restructure and return the company to sustainable, profitable growth, Ralph Lauren has revealed plans to move to a more cost-effective, e-commerce platform, and shutter its Polo store on New York’s Fifth Avenue in a bid to save US$140m a year.
Sri Lanka’s MAS to open first US manufacturing facility
Sri Lankan apparel and fabric manufacturing conglomerate MAS Holdings is to open its first production and development centre in the US in a move designed to improve speed to market and flexibility for its customers.
China refines its cotton policy
The new government-set target price for cotton grown in China’s Xinjiang province will remain flat with last year at CNY18,600 per ton (US1.22 per pound), and will remain in place through the 2019 planting season.
H&M to use 100% sustainably sourced materials by 2030
Swedish fashion group Hennes & Mauritz (H&M) has pledged to use only recycled or other sustainably sourced materials in all its products by 2030, and to scale-up its industrial relations and fair living wage programmes.
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By GlobalData
