Tadashi Yanai, chairman and president of Fast Retailing, said on March 28 that there is “no chance” of US production for the company – probably the first time any Top 20 global apparel retailer has come out and denied the possibility of US production.
Sae-A, the Korea-headquartered global rival to China’s Dishang Group as the world’s largest independent apparel exporter, revealed in a press release about its philanthropy that it now has 10,000 employees in Haiti, where it first opened in 2012.
Sears admitted in its March 21 10-K filing for 2016 that it had “substantial doubt over its own future.
Britain’s Marks & Spencer topped apparel companies listed on March 13 in a benchmark ranking assessing 98 of the largest publicly traded companies in the world on 100 human rights indicators.
JC Penney CEO believes a border tax would be equivalent to paying the US government 170% of its profits.
Fast Retailing published its “core supplier list” on February 28. The list includes 146 suppliers in Bangladesh, Cambodia, China, Indonesia and Vietnam, but no indication of how the company defines “core”, or what kind of supplier relations have not been disclosed.
Reuters reported on March 3 that Canada’s Hudson’s Bay , owner of the Lord & Taylor and Saks Fifth Avenue retail chains, has yet to line up equity financing for a bid for Macy’s, over a month after approaching its US peer
Burmese media reported on February 28 that around 500 workers at the H&M-supplying, Chinese owned, Hundred Tex garment factory in the Shwe Lin Ban industrial zone, Yangon, had been locked out after the factory was “temporarily closed to carry out repairs on equipment and furniture” damaged in a worker riot.
VF Corp announced on February 27 a Forest Derived Materials Policy.
Speaking on Gildan’s 2016 earnings call on February 23, the company’s executive vice president Rhodri Harries said Gildan has, since acquiring American Apparel, begun “leveraging our manufacturing network, while at the same time working on a supply chain to also support Made in the USA product”.
Aldi Nord and Aldi Sud published a joint report on February 23 into their progress on the Greenpeace Detox pledge, which the companies signed in 2015.
Invista announced on February 24 that it had retained Goldman Sachs to explore “strategic alternatives for its Apparel & Advanced Textiles business” including “potentially selling, or retaining and further investing in the business” within the company.
China’s Bosideng was reported in mid-February to have closed its extravagant London fashion flagship store some weeks earlier, and to have closed its website. Its Greenwoods menswear website is running a “Final Clearance”,selling everything at 25%-90% reductions, and presumably will close once most merchandise is cleared.
UK fast fashion e-tailer ASOS announced a detailed timetable for publishing a list of its 490 apparel manufacturers in its statutory Modern Slavery Act filing.
Li&Fung will be dropped from Hong Kong’s Han Seng index of leading quoted businesses from March 6, the index compilers announced on February 12.