India's diamond industry has shed 50 percent of its labour force as export orders dry up with the global financial crisis crippling demand for precious stones, trade officials say.
A not-so-new fashion trend is sweeping many parts of Australia, where thousands of people are flocking to vintage fairs to pick up unique, and inexpensive, apparel during the economic slowdown.
Hennes & Mauritz, the world's third-biggest clothing retailer by sales, posted a surprise 12.6 percent fall in its first-quarter pretax profits on Thursday March 26 as currency swings dented margins.
Tuesday March 24, the Commericial Tribunal of Nanterre has chosen the off-the-peg clothing group Beaumanoir from Brittany to takeover Morgan. Morgan had been in receivership since December.
Titan Industries Ltd has utilised about half of its planned capex for FY09 as a slowdown in consumer spending hurts demand, and will proceed cautiously with expansion plans for FY10, a top official said.
Europe's biggest clothing retailer Inditex said on Wednesday March 25 it made a net profit of 1.253 billion euros ($1.71 billion), slightly higher than last year's figure and broadly in line with forecasts.
China will raise tax rebates on exports of some textiles, iron and steel, non-ferrous metals, petrochemicals, electronic information and light industrial goods from April 1, state media said on Wednesday March 25, citing an announcement from the State Council, China's cabinet.
Nike Inc plans to halt its production at three shoe factories in China and one in Vietnam as crumbling consumer demand forces it to curtail output and streamline its supply chain.
Teen-age boys, are you tired of embarrassing questions about when you last changed underwear? Japan's space scientists may have just the answer -- a line of odour-free underwear and casual clothing.
The European Council has adopted a new plan of action for customs offices fighting counterfeiting - a phenomenon which now effects every industry. The plan aims to “protect the health and security of our citizens, as well as protecting innovation; economic activity, competition and jobs”.
Levi Strauss announced on Friday March 20 that they would be closing their factory in Hungary at the end of June, along with making the 549 workers redundant there, because of overproduction.
Apparel maker Phillips-Van Heusen Corp swung into a quarterly loss after swallowing one-time charges and expenses mainly related to its retail stores and closing U.S. production of neckwear.
Italy's Safilo is laying off workers and cutting production facilities, worrying the government as unemployment soars, and extra cash is looking like an urgent priority for the maker of Gucci sunglasses.
Italy is looking to help its fashion industry with a plan that includes tax credits and access to funds for companies feeling the strains of the global economic crisis.
Fairchild Holding Corp filed for Chapter 11 bankruptcy protection Wednesday March 18 but said it expects to continue to operate as usual without interruption while it reorganizes.