UK exporters face significant challenges this year and it will take a concerted effort by the British Chambers of Commerce’s global network, working alongside the UK government, to positively shift the dial, the chamber said recently. Most small and medium enterprise exporters reported no improvement to exports in 2022 last quarter, latest data shows.
Economic crises can have a positive effect on triggering decarbonisation, as per a study by researchers from the Research Institute for Sustainability (RIFS) in Potsdam, Germany, and ETH Zurich. The study examined the relationship between emissions peaks and economic crises in 45 countries that were members of the OECD and the G20 between 1965 and 2019.
Thailand’s deputy prime minister Jurin Laksanawisit recently told the Thai-Chinese Chamber of Commerce his country has been stepping up cooperation with China by upgrading the free trade agreement (FTA) between China and the Association of Southeast Asian Nations (ASEAN), and especially, by initiating mini FTAs with Chinese cities and provinces.
German gross domestic product (GDP) fell by 0.4 per cent in the fourth quarter (Q4) last year over the Q3 figure after adjustment for price, seasonal and calendar variations, according to the Federal Statistical Office, which recently reported that the German economy markedly lost momentum at the end of the year. The GDP grew in the first three quarters.
US imports of industrial textiles rose to $3.095 billion in 2022. The country imported fewer industrial textiles in 2020 when it was fighting COVID-19, but the trade bounced back in 2021 and further increased in 2022. The country also exports industrial textiles, which recovered from the COVID-19 disruption to reach $2.235 billion in 2022.
H&M has announced its latest designer collaboration will be with the leading fashion house Mugler. The collection, called Mugler H&M, will be created under the guidance of Mugler’s creative director, Casey Cadwallader. It will embody Mugler’s unique and energetic style. The collection will be available online and in select stores in the spring of 2023.
China-based Lanvin Group, a global luxury fashion group, has reported preliminary, unaudited revenues of €425 million in fiscal 2022 (FY22), a 38 per cent increase year-over-year (YoY) versus FY21. The group’s flagship brand, Lanvin, saw its global revenue increase by 67 per cent, with record 145 per cent growth in its wholesale business.
JCPenney and fashion designer Prabal Gurung have collaborated for iMPOWER by Prabal Gurung for JCPenney, a versatile collection of dresses and jumpsuits for various occasions, available in stores and online this spring for a limited time. iMPOWER by Prabal Gurung celebrates all women and brings affordable luxury to JCPenney with 25 size-inclusive styles.
French luxury fashion house Hermes has reported a consolidated revenue increase of 29 per cent at current exchange rates, reaching €11,602 million, in fiscal 2022 (FY22), compared to FY21. The company’s revenue growth was driven by sustained demand in Asia, particularly in Greater China, as well as strong performances in the Americas, and France.
Design house Marimekko has appointed Natacha Defrance, 48, as senior vice president, sales, region east and a member of the management group. At the same time, general counsel Essi Weseri, 39, has also been appointed as a management group member. They will both report to president and CEO Tiina Alahuhta-Kasko. Defrance joined Marimekko in June 2020.