Tag Archives: Textiles & Clothing (TRBC level 3)

UPDATE 1-Fashion group Tod put Instagram star Chiara Ferragni on its board | Instant News


* Shares in Tod’s jump more than 5% after the announcement

* The company aims to win over young people to drive growth (Adds details)

ROME, April 9 (Reuters) – Italian fashion group Tod’s said on Friday that it is appointing Instagram star and influencer Chiara Ferragni as a board member, stepping up its efforts to win over the younger buyers driving the sector’s growth.

The luxury leather goods maker shares jumped more than 5% after the announcement of Ferragni, a 33-year-old Italian digital entrepreneur with more than 23 million followers on his Instagram account where he shares fashion and style advice and raises awareness about social issues. .

“We believe that Chiara’s knowledge of the world of youth, combined with the experiences of other board members, can build thinking focused on solidarity with others, with a strong focus on the younger generation, who, now more than ever, need to be heard,” Tod said. .

Tod’s, known for his shoes, launched a new strategy in late 2017 to change his brand and appeal to younger consumers, but the COVID-19 pandemic has hampered his efforts. Sales fell by nearly a third in 2020 due to lockdowns and falls in tourism, marking the fifth consecutive year of annual sales decline.

“Ferragni’s entry into Tod’s board will lead to increased brand visibility, and investors hope this will help in driving group sales in today’s challenging market,” said a Milan-based trader.

Generations Z and Y, born after 1995, will meet about two-thirds of total demand in the luxury goods sector by 2025, up from about 45% in 2019, consultants Bain said in its latest estimate.

“Chiara’s knowledge of the youth world is invaluable,” said Diego Della Valle, Tod’s founder and top shareholder.

Reporting by Claudia Cristoferi; Edited by Giulia Segreti and Pravin Char

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Pakistan’s decision to import Indian cotton and sugar on hold: source | Instant News


Workers sit on cotton bales being transported to factories by truck during an extended national lockdown to slow the spread of the coronavirus disease (COVID-19) on the outskirts of Ahmedabad, India, 16 May 2020. REUTERS / Amit Dave

(Correction leads to say cotton and sugar, not cotton and rice)

ISLAMABAD (Reuters) – Pakistan’s cabinet, chaired by Prime Minister Imran Khan, on Thursday postponed a decision made by the country’s top economic decision-making body to allow imports of cotton and sugar from neighboring India, a source told Reuters.

In a bid to cool local demand and prices, Pakistan’s Economic Coordination Committee on Wednesday gave the green light for imports, which will end a nearly two-year suspension of trade between the nuclear-armed rivals.

(Correction leads to say cotton and sugar, not cotton and rice)

Reporting by Asif Shahzad; Edited by David Goodman

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‘Xinjiang cotton is my love’: Patriots on show at China Fashion Week | Instant News


BEIJING (Reuters) – Designer Zhou Li takes the stage to applause after a runway show at China Fashion Week with a political prop: a cotton plant bouquet.

“As far as I know, I think Xinjiang cotton is my lover, my love, which means I am so grateful it has brought me such happiness,” Zhou, 56, told Reuters after his performance on Tuesday in Beijing. .

Zhou, the chief designer and founder of Chinese fashion brand Sun-Bird, is a supporter of a patriotic boycott targeting several major western clothing brands in China who have expressed concern over alleged human rights abuses in Xinjiang province.

She said her outfit on show on Tuesday, which features a chic minimalist design with ruffles and ancient Chinese characters, uses Xinjiang cotton exclusively.

“For our Chinese designs, I must be right to support the Xinjiang people,” he said.

H&M, Burberry, Adidas and Nike were among those affected by a consumer boycott in China after their comments about alleged human rights abuses in Xinjiang resurfaced on Chinese social media last week.

Backlash has put brands in an awkward position given the importance of the market in China, where news and social media are tightly controlled by the Communist Party-controlled government and patriotic campaigns targeting foreign brands are commonplace.

“First of all, as everyone knows, this is a false statement (from the brand),” said 19-year-old fashion model Zhao Yinuo outside of the event. “But of course I can’t really say too much about this because it involves political issues.”

“I have a sense of national pride,” he said.

The European Union, United States, Britain and Canada last week imposed sanctions on Chinese officials, accusing them of human rights abuses in Xinjiang. China retaliated with its own sanctions against lawmakers and academics.

Xinjiang produces about 20% of the world’s cotton.

Some researchers and lawmakers say Xinjiang authorities use a forced labor program to meet the needs of seasonal cotton picking. China strongly denies these claims, saying all workforce in Xinjiang is based on agreements and contracts.

“I don’t believe our Chinese Communist Party would do such a thing,” said a 19-year-old student surnamed Li at the fashion event. Our nation is very united.

Reporting by Cate Cadell and Nanlin Fang; Edited by Raju Gopalakrishnan

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Pakistan’s decision to import Indian cotton and sugar on hold: source | Instant News


Workers sit on cotton bales being transported to factories by truck during an extended national lockdown to slow the spread of the coronavirus disease (COVID-19) on the outskirts of Ahmedabad, India, 16 May 2020. REUTERS / Amit Dave

(Correction leads to say cotton and sugar, not cotton and rice)

ISLAMABAD (Reuters) – Pakistan’s cabinet, chaired by Prime Minister Imran Khan, on Thursday postponed a decision made by the country’s top economic decision-making body to allow imports of cotton and sugar from neighboring India, a source told Reuters.

In a bid to cool local demand and prices, Pakistan’s Economic Coordination Committee on Wednesday gave the green light for imports, which will end a nearly two-year suspension of trade between the nuclear-armed rivals.

(Correction leads to say cotton and sugar, not cotton and rice)

Reporting by Asif Shahzad; Edited by David Goodman

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UPDATE Fashion retailer Primark 1-AB Food stopped placing new orders in Myanmar | Instant News


(Adding details)

LONDON, March 31 (Reuters) – Primark Associated British Foods owner said the fashion retailer had stopped placing new production orders in Myanmar following a military coup last month.

“Primark has now stopped new orders in Myanmar,” said a spokesman for AB Foods.

The prime source of 21 production sites in Myanmar. That compares with 527 in China and 127 in India.

The retailer’s move follows Sweden’s H&M and Italy’s Benetton Group which stopped placing orders in Myanmar earlier this month. (Reporting by James Davey; editing by William James)

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