Made in Jordan: Inside the Unexpected Powerhouse of Garment Manufacturing | Global Currents. AMMAN, Jordan — The ancient city of Petra, 70 years of regional turmoil and the spiralling Syrian refugee crisis. All spring to mind at the mere mention of Jordan, the Middle Eastern nation that shares a border with Iraq and Syria. Few of us, however, would think of its vibrant garment manufacturing industry. But look at the labels stitched into clothing made by Gap, Victoria’s Secret, Hanes, Eddie Bauer, Lands’ End or Macy’s and there it is: “Made in Jordan.”
Garment exports make up roughly 20 percent of the country's gross domestic product. In the arid outskirts of Jordan’s cities sit a growing number of industrial parks that house garment factories quietly churning out clothing for some of the world’s most recognisable brands. There are currently 75 factories producing everything from towels to t-shirts, fleeces to frilly knickers. Despite its reputation as the safest place in the Middle East, instability in Jordan is at an all-time high. Industry origins Workforce challenges What next? Richemont Sales Growth Accelerates on Japanese, European Demand | News & Analysis. PARIS, France — Richemont, the world’s biggest jewellery maker, said five-month sales accelerated amid higher demand in Japan and Europe. Sales increased 4 percent excluding currency shifts in the five months through August, the Geneva-based company said in a statement Wednesday.
Analysts expected a 1 percent gain, according to the median estimate in a Bloomberg survey. Revenue rose 1 percent on that basis in its past financial year. The results mirror comments by peers in the luxury business, such as Hermes International SCA, which reported higher first-half sales, fueled by an acceleration in Japan. LVMH Moet Hennessy Louis Vuitton SE in July posted strong revenue growth in Europe and the U.S., which helped offset a decline in China, Macau and Hong Kong.
Richemont said sales in Japan rose 48 percent. In Europe, revenue gained 26 percent. Richemont said sales in the Asia-Pacific region dropped 18 percent, compared with the median analyst estimate for an 11 percent decline. Quiksilver Files for Bankruptcy, to Hand Control to Oaktree | News & Analysis. HUNTINGTON BEACH, United States — Quiksilver Inc., the California surfwear chain that lost 79 percent of its market value this year, filed for bankruptcy with a plan to hand control over to lender Oaktree Capital Management LP.
Under a plan announced Wednesday, affiliates of Oaktree Capital Management LP will supply the chain with the $175 million financing it needs to get through a restructuring. At the conclusion of that process, Oaktree will exchange its debt claim for a majority stake in a reorganized Quiksilver. The plan requires bankruptcy court approval. The Huntington Beach-based retailer replaced its top executives in March after restating earnings. Quiksilver had already begun talking with potential bidders before filing for bankruptcy in Delaware, people familiar with the discussions said last week. The company’s European and Asian operations aren’t affected by the bankruptcy, it said in the statement.
Surfer Styles As of April 30, Quiksilver had about 700 retail stores. Unlocking the Enigma of Iran | Global Currents, Market GPS. DUBAI, United Arab Emirates — Smugglers ply their trade here by night. Throngs of them huddle under the cover of darkness in dhow boats moored along Dubai Creek. Haggling in hushed voices, they speak in code but use an ancient blend of Arabic and Persian that betrays the destination of their contraband. Once they slip past the Emirati border patrol, an underground economy awaits them over the horizon where black market traders bid for their wares from cities across Iran. Few scenes illustrate Iran’s pent-up demand for Western goods better than this. The mountains of branded toothpaste, t-shirts, computers and handbags crossing the Persian Gulf from Dubai are a regular occurrence and an open secret in this region.
After a long and sometimes hostile period of isolation, contemporary Iran is an unknown quantity for most multinational firms. Tantalisingly out of reach Vaqar Spring/Summer 2015 by Shiva and Shirin Vaqar | Source: Courtesy “It will take time and things are still very uncertain. Economic contribution. The direct value of the UK fashion industry to the UK economy is estimated at £26bn, up from £21bn in 2009, according to data from Oxford Economics, the consultancy, published by the British Fashion Council.
This represents an increase of 22 per cent in nominal terms between 2009 and 2014. If the indirect support for supply chain industries and the induced spending of employees' wages are added in, the total contribution from the UK fashion industry is £46bn.Oxford Economics estimates that fashion’s wider contribution to the UK economy in influencing spending in other industries has risen from £37bn in 2009 to over £46bn in 2014 - a 23 per cent increase.The UK fashion industry is estimated to support 797,000 jobs (down from 816,000 in 2009 which reflects an increase in productivity in the sector).
Fashion is the largest employer of all the UK's creative industries. Source: The British Fashion Industry and London Fashion Week Facts & Figures, BFC, Feb 2016. Economic Value. Waste Couture: Environmental Impact of the Clothing Industry. Why people are fleeing Syria: a brief, simple explanation. With the refugee crisis worsening as many Syrians attempt to flee to Europe, many people may find themselves wondering just how the war in that country got so bad, and why so many are fleeing now. Here, then, is a very brief history of the war, written so that anyone can understand it: Syria is a relatively new country: Its borders were constructed by European powers in the 1920s, mashing together several ethnic and religious groups.
Since late 1970, a family from one of those smaller groups — the Assads, who are Shia Alawites — have ruled the country in a brutal dictatorship. Bashar al-Assad has been in power since 2000. This regime appeared stable, but when Arab Spring protests began in 2011, it turned out not to be. The country's Sunni Arabs, the largest demographic, were clearly sick of their second-class status, and of the country's corruption, brutality, and inequity.
Protests began that spring. Perhaps inevitably, Syrians took up arms to defend themselves. It worked. Market Red Alert. I have never done anything like this before. Ever since I started The Economic Collapse Blog in late 2009, I have never issued any kind of “red alert” for any specific period of time. As an attorney, I was trained to be level-headed and to only come to conclusions that were warranted by the evidence. So this is not something that I am doing lightly. Based on information that I have received, things that I have been told, and thousands of hours of research that have gone into the publication of more than 1,300 articles about our ongoing economic collapse, I have come to the conclusion that a major financial collapse is imminent. Therefore, I am issuing a RED ALERT for the last six months of 2015.
To clarify, when I say “imminent” I do not mean that it will happen within the next 48 hours. What I am attempting to communicate is that we are right at the door of a major turning point. Let’s start with a little discussion about the U.S. economy. Let me give you just one quick example. World needs to stabilise population and cut consumption, says Royal Society | Environment.
World population will reach 9 billion by 2050. Photograph: Peter Macdiarmid/Getty Images World population needs to be stabilised quickly and high consumption in rich countries rapidly reduced to avoid "a downward spiral of economic and environmental ills", warns a major report from the Royal Society. Contraception must be offered to all women who want it and consumption cut to reduce inequality, says the study published on Thursday, which was chaired by Nobel prize-winning biologist Sir John Sulston. The assessment of humanity's prospects in the next 100 years, which has taken 21 months to complete, argues strongly that to achieve long and healthy lives for all 9 billion people expected to be living in 2050, the twin issues of population and consumption must be pushed to the top of political and economic agendas. Both issues have been largely ignored by politicians and played down by environment and development groups for 20 years, the report says.
The Problem with Society isn't Greed. Greed Is a Symptom of a Deep Need Going Unfulfilled A lot of people reacted to my comment on Facebook the other day that greed is more a symptom than a cause of our current system, with all its inequities. I’m asked, What is the cause of greed? First I’ll say what I think greed is: Greed is the insatiable desire for that which one doesn’t really need, or in amounts beyond one’s needs. When we are cut off from the fulfillment of our basic needs we seek out substitutes to temporarily ease the longing. Bereft of connection to nature, connection to community, intimacy, meaningful self-expression, ensouled dwellings and built environment, spiritual connection, and the feeling of belonging, lots of us over-consume, overeat, over-shop, and over-accumulate. Causes of separation The causes of our separation from all these things pervade every aspect of our culture.
Do we have to just adapt to not having our needs met? Perhaps such an upbringing is necessary in our cultural context. Diminishing greed. Women's Clothing Industry Market Research & Statistics. Global Women’s Clothing Industry The global women’s clothing industry is expected to exceed $621 billion in 2014, marking a 12% increase in five years, reports MarketLine.
Clothing retailers account for the largest share of the market at almost 65% in terms of value. The EU represents more than 35% of the global market, which encompasses formalwear, essentials, active wear, outerwear and casual wear. Major drivers of the world womenswear market include fashion, with shoppers eager to keep up with the latest trends, consumer confidence and rising income levels. As consumers made less purchases during the economic recession, retailers currently find themselves with a product surplus. Regional Markets The US womenswear industry was severely affected by the housing and economic crisis. Key Market Segments The world bridal wear industry is expected to reach almost $57 billion by 2015, according to Global Industry Analysts. Market Outlook Leading Industry Associations More » Reduced discounting dampens high street fashion trade. Fashionomics: a study in the state of our economy and dress.
UK retail sales volumes dip in June - BBC News. UK retail sales volumes fell unexpectedly by 0.2% in June, after consumers bought fewer household goods, and less food and petrol. The figures from the Office for National Statistics (ONS) also showed the annual rate of sales growth slowed to 4.0% last month from 4.7% in May. That was the slowest annual growth rate since September 2014, and was below analysts' forecasts. However, the ONS said the annual growth rate was still "strong".
Sales volumes in the April-to-June quarter were up 0.7% from the previous quarter. The value of online sales in June increased by 1.4% compared with May and accounted for 12.4% of all retail sales. Howard Archer, chief UK and European economist for IHS Global Insight, said June's sales data was "a little disappointing" but added that the figures were "not a body blow to improved second quarter growth hopes". Many analysts have been expecting retail sales to do well, with recent statistics showing wage increases are picking up while inflation remains near zero.