All Trade & Sourcing articles – Page 6
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ArticleCovid outbreak closes major factories in Vietnam
A sudden and violent outbreak of the Covid-19 epidemic in Ho Chi Minh City (HCMC) and its environs is expected to delay shipments of shoes and apparel and may result in a loss orders for local manufacturers, according to the local NV Express , which cited the shutdown of 29 ...
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ArticleU.K. fashion industry struggles to absorb higher costs from Brexit
Brexit has led to higher prices and increased bureaucracy for the clothing industry and companies are struggling to absorb the additional costs, a comprehensive industry survey has found. The poll of 138 firms by the UK Fashion and Textile Association ( UKFT ) showed that British firms ...
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News briefs
Yantian port backlog will take several weeks to clear
A backlog at Yantian, China’s largest container terminal, will take several weeks to clear, according to the Danish shipping company Maersk . Maersk, which is the largest shipping company in the world, told the news agency AFP that it had been informed by the port’s authorities that activity ...
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News briefs
EU updates VAT rules for international online trade
New EU tax rules for orders placed with non-European online retailers will come into force at the beginning of July. The most important change is the elimination of the previous exemption limit of €22 for direct (B2C) imports. This means that import VAT will be due on all packages, ...
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News briefs
Russian labeling causing problems for shoe imports
The mandatory labeling introduced by the Russian government for footwear is causing problems with imports, according to market participants. As foreign suppliers are not familiar with labeling rules, Russian importers have to print the labels and send them to their partners with clear instructions on how they must be ...
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News briefs
Shipping giant sees tight market conditions until Q4
The world’s largest container shipping company Maersk expects tight market conditions in maritime transport to continue until the fourth quarter of 2021. When commenting on its trading performance, the company said that “the continued strong performance is mainly driven by the continuation of the exceptional market situation with surging ...
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ArticleUzbekistan to produce Nike and Adidas footwear for Asia, Europe
The Uzbek company SinoInternational has inked an agreement to produce 3 million pairs of shoes in total under the Nike and Adidas names at its new factory in the Andijan region starting from the fourth quarter of 2021. The facility is expected to achieve full production in the third quarter ...
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ArticleCortina leverages its logistics expertise
Cortina, the Belgian footwear company, is leveraging off its experience dating back to the 1950s in handling the logistics for the shoes it produces. It is now actively marketing these services to third parties under a new brand, Synogix, and with an eye on becoming a logistics partner for internationally ...
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ArticleEU, UK extend Brexit trade talks in effort to avoid a “no deal”
The United Kingdom and the European Union had decided to wait until Sunday, Dec. 13 to find a compromise on a trade agreement that would go into effect on Jan. 1. But, the European Commission’s president, Ursula von der Leyen , said the negotiators will now continue to work into ...
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ArticleThe U.K. reaches trade accord with Vietnam, but deal with EU unlikely
The U.K. has finalized a free trade agreement with Vietnam, which is scheduled to become effective from Jan. 1. It is the third trade agreement reached with an Asian country, after those with Singapore and Japan. The U.K. has also reached a preliminary trade agreement with Canada. The U.K. ...
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ArticleMaterial Exchange raises €5 million to accelerate growth
Material Exchange , the Swedish online platform for the procurement of materials, raised €5 million in a funding round as it seeks to accelerate its growth plans after the “business exploded” during the Covid-19 pandemic. “The Covid-19 pandemic has accelerated the digitalization of the industry by at least five ...
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ArticleChanel buys Italian luxury shoe maker Ballin
Chanel has bought a majority stake in the Italian luxury shoe maker Ballin , which has its own brand and produces for third parties, including the French fashion house. The company will continue to be managed by the Ballin family and will be allowed to continue working with all ...
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News briefsRussia reportedly planning to limit shoe imports
The Russian government is mulling over measures aimed at limiting footwear imports, according to the Russian press. The local authorities plan to take advantage of the situation created by the Covid-19 pandemic, including a slump in the import of fashion goods and restrictions on international travel, to expand the ...
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ArticleEram bets on cheaper French-made shoes
The French shoe retailer Eram has expanded its range of French-made shoes to include best-selling, easy-to-wear models, at an affordable price. Until now, the pairs produced in its Montjean-sur-Loire factory were higher-priced trendy and original fashion models. The new cheaper, locally-produced pairs are part of the Eram ...
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Article
Chamatex to open “smart” footwear factory in France with Salomon and others
French textile producer Chamatex has teamed up with Salomon, Babolat and Millet as well as an investment company on the construction of a new footwear manufacturing facility called Advanced Shoe Factory 4.0 (ASF 4.0) in the Auvergne-Rhône-Alpes region of France. ASF 4.0 was founded by Chamatex with the goal of ...
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ArticleObuv Rossii parent launches capital hike to finance its development
OR PJSC , the parent company of the Russian footwear group Obuv Rossii , is planning to place additional shares worth 2.8 billion rubles (€31.7m-$37.4m) to finance the group’s development. The company is offering 28,264,000 new ordinary shares, which corresponds to 24 percent of the previously placed ordinary shares. ...
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News briefs
Lanxess sells organic leather chemicals business, launches Adiprene Green
The German specialty chemicals company Lanxess is selling its organic leather chemicals business to TFL Ledertechnik . The purchase price is made up from a fixed component of €80 million and a performance-related component of up to €115 million. In addition, TFL will assume certain liabilities associated with the ...
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ArticleTheo Henkelman, Only A Shoes follow FNG Group into bankruptcy
The two Dutch shoe companies Theo Henkelman and Only A Shoes had to file for bankruptcy in the wake of the insolvency of part of the Belgian fashion firm FNG Group . The bankruptcy proceedings started on Aug. 10 for the two Dutch units. The administrator in charge ...
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News briefs
EU introduces tariffs on Cambodian shoes
As of August 12, Cambodian footwear and other products such as garments and travel goods are subject to the European Union’s customs duties. The move comes after the EU decided to partially withdraw Cambodia’s duty-free quota-free access to the single market because of a lack of respect of human and ...
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ArticleCCILU open to partnerships on new green material
CCILU , the Taiwanese brand of lifestyle footwear, has launched Greenplax , a new ecological raw material for outsoles, insoles and upper fabric upcycled from plastic bottles. The announcement is accompanied by a $20,000 crowdfunding and marketing campaign on Kickstarter for a shoe model called Renee , said to ...
