Garment makers in nine countries spanning Asia, the Middle East and North Africa have banded together to demand better contract terms from global clothing retailers, according to a draft document seen by Reuters.
A group of investors and other funds are ramping up pressure on Western companies over alleged human rights abuses in China's Xinjiang region, highlighting the challenges for brands trying to maintain business ties.
The Spanish apparel group’s president insisted the business model is “solid” and said he is confident about the group’s recovery. If all Inditex stores will re-open in April, 2021 sales will be on par with 2019.
Retail giant Inditex hasn’t come out of the pandemic year unscathed. But the strength of its business model appears to have carried it through so far and its performance since its fiscal year ended has been encouraging
The revenue of top fashion multinationals plummeted by 21.8% in the first nine months of 2020 because of the pandemic, according to a study published on Wednesday by Italian investment bank Mediobanca.
H&M's sales were running only 3% down this autumn until the latest wave of lockdowns forced its stores to close again. But its figures for Q4 and the full year show it's managing fairly well in a tough year.