News
October 16, 2006
Diesel Head Scoops Up Italy's Pier
Diesel head Renzo Rosso has scooped up Italian clothing manufacturer Pier SpA, saying he wanted to acquire knowledge of its high-end “made in Italy” production.
Pier, which manufactures for brands such as Chloé, Dries Van Noten and Dior Homme, brought in sales of about $13 million last year.
Rosso previously purchased manufacturing firm Staff International, which produces collections for Diesel, Dsquared, and Vivienne Westwood, among others.
Posted by Blacks on 09:42 AM | Comments (0)
May 02, 2006
China's Garment Exports Continue To Grow
China’s garment industry posted significant growth in the first quarter of this year despite recent quotas placed on the export of textiles to the U.S. and EU.
Garment exports rose by more than 22 percent in the quarter to $28 billion, a 3 percent increase over the same period last year.
Meanwhile, textile exports to the U.S. and EU grew by 9.7 percent even though controls were placed on the export of 34 types of apparel and textiles to these countries late last year.
Posted by Blacks on 08:10 AM | Comments (0)
March 10, 2006
U.S. Textile, Apparel Imports Climb
Imports of apparel and textiles surged 7.6% in January as the U.S. trade deficit continued to widen, the Commerce Department reported this week.
The trade deficit hit a record $68.5 billion for the month, growing 5.3% over the December figure.
China increased its textile and apparel shipments to the U.S. by 20% in January, despite recent restrictions on imports from the country.
Posted by Blacks on 09:15 AM | Comments (0)
January 16, 2006
Chinese Report Fall In Textile Orders
Chinese textile manufacturers are reporting a sharp decline in fall orders following the introduction of new quotas for the export of some textile and garment products to the U.S. and European Union.
The decline in orders has led to numerous layoffs, especially in the Guangdong region, where a number of textile manufacturers are located.
The sourcing shift caused by the export restrictions could also lead to some pricing issues for clothing retailers who find that garments sourced elsewhere are more expensive.
Posted by Blacks on 09:44 AM | Comments (0)
December 02, 2005
China Exports Pushed Up By Pullovers
Chinese textile exports are expected to grow by over 19% this year, despite controls placed on shipments to the U.S. and Europe.
This year’s exports, valued at around $116 billion, got a boost from increased investment and new technologies, according to the China National Textile and Apparel Council.
Among the big sellers were pullover and trouser exports to Europe, which increased by over 400 percent compared to last year.
Posted by Blacks on 01:01 PM | Comments (0)
November 25, 2005
US Drops Pending Chinese Textile Requests
The U.S. is dropping all pending decisions regarding quotas on Chinese textile imports following an agreement reached between the two countries earlier this month.
The Commerce Department said that it has 24 outstanding requests from industry groups that are being scrapped in light of the decision. Most of the issues brought up in the requests are covered in the recent agreement, the Commerce Department said.
After a prolonged period of negotiation, the U.S. and China reached a 3-year deal to restrict the import of 34 types of apparel and textiles, valued at about $5 billion annually.
Posted by Blacks on 12:30 PM | Comments (0)
November 09, 2005
U.S., China Reach Textile Deal
The U.S. and China reached a long-sought agreement to limit Chinese clothing and textile imports on Tuesday. The three-year deal will restrict the import of 34 types of apparel and textiles, valued at about $5 billion annually.
The deal was made to protect U.S. suppliers who fear an erosion of their markets from cheaper Asian imports. While the limits are good news for U.S. industry players, some estimate that consumers will wind up spending $10 to $20 more a year for clothing.
Posted by Blacks on 05:55 PM | Comments (0)
October 27, 2005
UN Douses Fears of Chinese Textile Flood
Despite fears that a flood of Chinese textiles would overwhelm the market, there has been little evidence so far that Chinese exports are crowding out other countries.
Job losses resulting from the lifting of global trade quotas on China have been far less than anticipated, according to a U.N. report out Wednesday. Although the value of China’s exports has risen some 20% since the quotas were lifted Jan.1, other countries have also managed to boost their shares and stay in the game, the U.N. said.
Posted by Blacks on 04:56 PM | Comments (0)
October 20, 2005
Haute Chinese?
U.S. and European apparel makers who are already perturbed over the increasing flow of Chinese textiles into their markets may have another China threat on the horizon: luxury goods. That’s right, the up-and-coming Asian giant is now showing an interest in high fashion.
Shanghai Fashion Week opens next week and for the first time the show will host a forum on the management of luxury brands. While a high-profile luxury market may be a bit far off for Chinese makers, the country’s strong cultural influence and lower production costs could make for some interesting competition.
Posted by Blacks on 10:16 PM | Comments (0)
October 12, 2005
China, US Talk Textiles
The U.S and China have begun yet another round of talks aimed at settling the dispute over soaring Chinese textile exports. The talks, currently being held in Beijing, represent the sixth round of negotiations the two countries have entered into in recent months over the level and duration of quotas to be imposed on Chinese textile imports to the U.S.
Exports of Chinese textiles have skyrocketed since global quotas were abandoned on January 1. Both U.S. and European textile manufacturers claim that the influx of Chinese goods could obliterate their markets, leading representatives from both regions to scramble to the negotiating tables. China and the EU reached a deal in June to limit the export of 10 Chinese textiles but the U.S. has so far failed to reach a settlement.
Posted by Blacks on 02:42 PM | Comments (0)
September 27, 2005
Luxury Goods 'Made in Serbia'?
‘Made in Italy’ is becoming a scarce designer tag as high-fashion shops continue to move production of luxury items to developing markets, according to an investigation published Tuesday.
Opulent brands such as Valentino and Gucci are tip-toeing into emerging markets to stitch items from suits to sneakers, the Wall Street Journal reports. Louis Vuitton group’s Celine unit is already making some handbags in China, including its $500 Macadam bag, according to the Journal.
Tags that read 'Made in Egypt' and 'Made in Serbia' may become more familiar to consumers as designers increasingly take advantage of the cost savings and labor markets in these countries. In their defense, some designers say that it doesn’t really matter where the items are made, and that tailors and seamstresses in their home countries are now hard to come by.
It remains to be seen whether consumers squawk at paying $1,800 for a Valentino suit made in Egypt.
Posted by Blacks on 12:12 PM | Comments (0)
September 22, 2005
EU Hits China with Textile Duties
The European Union has decided to levy anti-dumping duties on some finished polyester filament fabrics from China in a move aimed at protecting its internal market.
The duties range from 14.1% to 56.2% and will last for 5 years.
A spokesman for the China Textile Industry Council has been quoted in local press as saying that the 56.2% duty will effectively put an end to the exportation of affected products.
U.S. authorities are also currently scrutinizing China’s textile exports. The U.S. textile industry is pressing the government to impose quotas on items such as wool suits, polyester filament and synthetic fiber coats, saying that the Chinese goods take a swipe at U.S. apparel manufacturing jobs.
Chinese apparel exports to the U.S. have surged by an average of over 600 percent in the last 7 months, according to some U.S. textile industry groups.
Posted by Blacks on 01:16 PM | Comments (0)