Blog: Leonie BarrieCone shows CAFTA confidence

Leonie Barrie | 17 May 2004

Does Wilbur Ross, chairman of International Textile Group, know something the rest of the industry doesn't? It's still questionable whether the proposed Central American Free Trade Agreement (CAFTA) will be ratified before the US elections - if at all. So putting $90 million into a new 30 million yard denim plant in Guatemala for ITG subsidiary Cone Mills is a huge risk if CAFTA isn't authorised. Ross says he has signed a "protocol of mutual support for an appropriate CAFTA and for the development of the Guatemalan textile industry," and is obviously confident that the deal will be agreed before the new plant opens in summer 2005. If CAFTA is eventually adopted then Ross will be one step ahead of the competition with one of the few large scale denim mills in the region. And he's definitely betting that Central America will retain a share of the global apparel business once quotas are lifted - and that demand for western-style jeans will continue to grow.


BLOG

China still dominates apparel sourcing

The latest full-year data on US apparel import trends for 2017 suggests China will remain the dominant sourcing region for some time to come....

BLOG

Retail's rapid transformation requires "platform thinking"

There’s no doubt the retail industry is undergoing rapid transformation as technology continues to reshape how retailers think about their supply chains and meeting their customers’ needs. But to posi...

BLOG

NAFTA trade talks inch forward

Negotiators are meeting this week for the sixth round of NAFTA trade talks – and as soon as this deal has been repackaged, the spotlight could turn to the US free trade agreement with Central America....

BLOG

How can apparel firms stay competitive into the future?

Continuing with the publication of our Outlook 2018 reports last week, we looked at what apparel firms should be doing now if they want to remain competitive into the future....

just-style homepage



Forgot your password?