All Trade & Sourcing articles – Page 8
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News briefs
Turkish inflation may have peaked
In June, Turkish inflation slowed down to 71.60 percent year-on-year after reaching 75.45 percent in May, according to the statistics office Tuik. Month-on-month, consumer prices rose by 1.64 percent in June. “The disinflation process has started,” wrote the economy minister, Mehmet Simsek, on X. However, independent economists at the Inflation ...
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OrthoLife expands its European hub
The US-based insole specialist OrthoLite announced the expansion of its European hub, OrthoLite Europa (OEU), focusing on its facility in Almansa, Spain. “Our commitment to invest in our global manufacturing footprint brings agility and reliability for OrthoLite’s brand partners and our T1 factory partners,” said Richard Bevan, Vice President of ...
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ArticleHeinrich Dinkelacker starts production in Tuscany
Heinrich Dinkelacker, the traditional brand of high-end men’s shoes, continues to expand production in Western Europe. After “four years and many rounds of sampling across the European continent”, the company has found a partner in Tuscany, near the fashion and leather goods hub of Florence, to manufacture its Buda ...
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South American footwear sales set to grow nearly 3% annually
In 2024, footwear sales in South America are expected to rise by a compound annual growth rate of 2.77 percent from 2024 to 2028, according to data from the German statistics portal Statista released by the Italian trade show Expo Riva Schuh & Gardabags. In 2024, footwear revenues in South ...
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Uzbekistan incentives the creation of footwear clusters
Uzbekistan’s government plans to create clusters for the leather and footwear industries in the Sharaf-Rashidov and Akhangaran districts and has defined incentives to attract investors. Until Jan. 1, 2026, companies established in the areas are exempt from property tax, land tax and tax for the use of water resources, according ...
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News briefs
Moreschi proceeds with the firing of 59 workers
As announced in February, Moreschi, an Italian producer of upscale shoes, has proceeded with the firing of 59 people as part of its plans to outsource its production to third parties. In February, the Italian footwear company controlled by the Swiss group Hurley said that its own production was “not ...
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ArticleCentral Asia and Caucasus expand footwear exports to Russia
In 2023, Russia saw a hike in footwear imports from Armenia, Kazakhstan and Kirgizstan, all members of the Russian-led Eurasia Economic Union trade block. But, the increase is primarily attributed to re-exports of footwear from Europe. Armenia exported shoes worth $33 million in 2023, which was 11 times higher than ...
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ArticleFDRA calls on US president to remove duties on Chinese footwear imports
Matt Priest, the president and CEO of Footwear Distributors & Retailers of America (FDRA), is urging the US president, Joe Biden, to remove by executive order Section 301 import tariffs imposed on China. In an open letter to Biden, Priest wrote that “retail footwear prices have risen sharply since implementation ...
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News briefs
Birkenstock invests €15m in Portuguese plant
Birkenstock is investing €15 million in Portugal to expand its recently acquired component manufacturing facility in the Iberian country. The new 13,000-square meter factory in the São Domingos Industrial Zone in Arouca, in the Metropolitan Area of Porto, in the Norte Region, is expected to be completed by December 2024, ...
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ArticleH&M and Inditex accused of allegedly using unethical Brazilian cotton
The British non-governmental organization (NGO) Earthsight is accusing H&M and Inditex of allegedly using cotton “linked to land grabbing, illegal deforestation, violence, human rights violations and corruption in Brazil.” It is also calling on governments to regulate the fashion industry on the grounds that it has failed to ensure sustainability ...
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ArticleNovoloop’s pilot plant for recycled plastic comes on stream in India
Novoloop, a US plastic circular economy technology company, announced the startup of its pilot plant in Surat, India. The plant was built in collaboration with Aether Industries, an Indian speciality chemical manufacturer. Groundbreak for the plant was announced in January 2024 and construction completed in March 2024. The pilot plant ...
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ArticleHyosung to build a bio-BDO factory in Vietnam as part of a $1bn investment plan
Hyosung TNC plans to build a bio-butanediol (BDO) factory in Vietnam with an annual production capacity of 50,000 tons. The project is part of a $1 billion investment program to reach an annual output of 200,000 tons of bio-BDO. On March 30, Hyosung TNC received approval for the “Hyosung BDO ...
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ArticleC-Suite interview: Palmroth plans to double its sales in three years
Palmroth is a family-owned footwear company based in Tampere, Finland, whose history dates back to 1928. Largely centered on winter shoes, the brand aims to double its sales volumes within the next three years. Run by Mikko Palmroth, who represents the third generation at the helm, the company sells annually ...
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Vietnam relies on China to uphold 2024 exports
Vietnamese shoemakers expect 2024 to be a challenging year but are relying on China to underpin exports, according to Phan Thi Thanh Xuan, the Vice President and General Secretary of Lefaso, the Vietnam leather, footwear and handbag association. In 2023, Vietnam generated $24 billion in revenues from leather and ...
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ArticleSpanish footwear exports rose in value but slipped in volumes in 2023
Spanish footwear exports totaled €3,260 million in 2023, up by 6.6 percent compared to the previous year when exports breached the €3 billion threshold for the first time. In 2022, exports rose by 22 percent to €3,056 million, according to data released by Fice, the Spanish footwear association. However, in ...
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News briefs
Moreschi to outsource its manufacturing
Moreschi, an Italian producer of upscale shoes, plans to outsource its production to third parties. In a statement, the Italian footwear company controlled by the Swiss group Hurley deems its own production “not adequate to the required standards” of the brand. According to media reports, the move will lead to ...
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News briefsMaersk warns that Red Sea crisis could last well into H2
Maersk is advising customers to prepare for a Red Sea crisis that could last well into the second half of this year. “Unfortunately, we don’t see any change in the Red Sea happening anytime soon,” Charles van der Steene, the regional president for Maersk North America, told the television network ...
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ArticleKenyan footwear producer seeks a partner to launch leather-shoe production
Saagar Shah, whose family owns and manages Kenya Suitcase Manufacturers (KSM), is planning to enter the leather-shoe market and is seeking a partner with skills in the production of uppers. The Mombasa-based company generates half its revenues from the production of rubber boots, polyvinyl chloride (PVC) shoes, for adults and ...
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ArticleHow Starlet continues to develop its fashion line as it grapples with adverse forex
The Starlet group, a Pakistani shoemaker based in Lahore, has continued to develop its line of fashion shoes, with a foray into women’s footwear, while having to deal with the consequences of a sharp devaluation of the local currency. Between early 2022 and September 2023, the Pakistani rupee declined by ...
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ArticleHow Kidderminster Footwear weathered Brexit
Like other British exporters, Kidderminster Footwear suffered the double-whammy of the Covid-19 pandemic, which broke out in Europe in the latter part of the first quarter of 2020, and the UK’s departure from the European Union on Jan. 1, 2021, the so-called Brexit. The company states that its business, excluding ...
