Blog: Leonie BarriePakistan GSP+ could boost exports

Leonie Barrie | 16 December 2013

Pakistan's garment manufacturers are anticipating significant trading benefits after finally being granted preferential access to the European Union under the GSP+ scheme. A crucial vote by the European Parliament last week paved the way for the country to join the programme from January 2014.

With the new status, shipments to the EU will benefit from zero tariffs. But while Pakistan estimates exports of textiles and clothing alone will increase by US$650m in the first year, local industrialists have told just-style that producers also need help to take full advantage of the facility.

A package of new measures agreed by World Trade Organization (WTO) negotiators is also being described as one of the biggest reforms to global trade since the WTO was set up 18 years ago. And it has been welcomed by apparel retailers and manufacturers.

It was also an eventful week for yoga-wear specialist Lululemon Athletica, which has been weighed down by quality issues over the past few months. First, it was revealed that founder and chairman Chip Wilson is to step down, and that Laurent Potdevin will be the new CEO. Then the retailer cut its full-year sales guidance, despite recording a 15.2% increase in profit during the third quarter.

And Fifth & Pacific Companies is finally flying solo after agreeing to sell its Lucky Brand Jeans business to an affiliate of private equity firm Leonard Green & Partners, for US$225m. The move comes just two months after it arranged to offload its struggling Juicy Couture unit - and means it will now be able to focus on its popular Kate Spade label.

Meanwhile, apparel giant PVH Corp recorded a double-digit increase in third-quarter profit, but warned of a competitive and highly promotional holiday season.

When it comes to winners and losers in the global apparel industry in 2013, our annual review of the year sheds light on those for whom 2013 will be memorable in more ways than one - from retailing to manufacturing and sourcing.

BLOG

A confusing mix of sustainable cotton options

There's an undeniable desire on the part of brands around the world to clean up their supply chains, and there's no lack of interest in using more sustainable cotton. But the confusing mix of standard...

BLOG

Have your say – Take part in just-style’s State of Sourcing survey

The global apparel industry and its supply chain is going through a period of unprecedented change. How do you and your colleagues see the outlook for 2018? And what strategies are you likely to be tu...

NEWS

Disney project builds better factory working conditions

A year-long global project on improving working conditions in factories making Disney-branded products around the world has successfully trained 201 managers from 115 licensee companies that in turn c...

BLOG

Under Armour's strategic deep dives

Amid signs of a slowdown in its North American business, US sportswear brand Under Armour has made a number of "strategic deep dives" into strategy, supply chain, product, marketing and sales as a pre...

BLOG

Esquel Group on a sustainability mission

Hong Kong-based textile and apparel giant Esquel Group has made it its mission to weave sustainability into its core values, and across a vertical supply chain that spans every step from cotton farmin...

just-style homepage



Forgot your password?