Daily Newsletter

15 December 2023

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Daily Newsletter

15 December 2023

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Outlook 2024: Seizing success in a challenging year for fashion

From a surge in geopolitical issues to growing concerns over the fashion industry’s environmental footprint, 2024 is proving to be a challenging year for sourcing executives, but with every challenge there is a new opportunity to be explored.

Hannah Abdulla December 15 2023

Challenges including geopolitical turbulence and a slow economy will continue to plague the fashion sector in 2024. Credit: Shutterstock.

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Latest news

Bangladesh ‘proud’ of wage rise, ‘unbeatable’ global sustainable fashion status

As COP28 draws to a close Bangladesh High Commissioner to the UK, Ireland and Liberia Saida Muna Tasneem told a delegation at the UK's House of Lords Bangladesh's fashion manufacturing industry is "unbeatable" in terms of ESG and it is time to spread this message to global consumers.

15 December 2023

Fashion sector welcomes COP28 agreement but looks to business for ‘real progress’ on climate change

The United Nations Climate Change Conference (COP28) ended with the announcement of a new agreement described as “the beginning of the end of the fossil fuel era”, as leading apparel sector bodies react to the new deal.

15 December 2023

Signal: Extreme weather makes climate urgent priority for fashion sector

Frequent extreme weather events are having a negative impact on the fashion value chain according to McKinsey & Co’s latest report with GlobalData's filings data showing an increase in natural disaster mentions in 2023.

15 December 2023

EU agrees rules for corporate sustainability due diligence directive

The EU has agreed a new set of rules that will require EU and non-EU textile and apparel companies to safeguard human rights and the environment within their policies and risk management systems or risk financial penalties.

15 December 2023

China eyes global collaboration and economic resilience

Beijing hosted the inaugural China International Supply Chain Expo (CISCE) with Chinese Premier Li Qiang advocating for closer international collaboration on supply chains to address global economic challenges.

15 December 2023

Tapestry, Pivot Energy collaborate to drive clean solar energy in US

Global fashion house Tapestry which owns brands Coach, Kate Spade and Stuart Weitzman has teamed up with renewable energy provider, Pivot Energy to develop six community solar projects in Illinois and purchase 15 years of Impact Renewable Energy Credits (RECs) generated by these projects.

15 December 2023

Lectra debuts fashion platform for tech, green insights and updates

Technology solutions provider, Lectra, has launched the “Lectra Observatory” to keep industry players informed about technological, and industrial innovations as well as the economic, social and environmental transformations within the fashion, furniture and automotive markets.

15 December 2023

Global menswear market dynamics

Global menswear market is expected to grow at a CAGR of more than 4% by 2027, as consumer confidence takes time to rebuild following inflationary pressures. The popularity of the resale market will also somewhat hinder menswear retail growth, as more shoppers will divert spend away from traditional retailers and brands to secondhand channels, in a bid to save money and protect the planet.