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Gap and Fast Retailing, the most affected by the crisis of confidence in international markets. Though, this impact also stretched to giants of luxury or sports fashion who were similarly dragged in the stock market.

The country faces a probable technical recession due to the coronavirus crisis, which mainly affects tourism and exports, sectors that drive the country’s economy.

The sector that leads the ranking of the biggest corporate operations that exceed the one billion dollars mark is health, according to the latest report published by the American consultancy, Bain & Company.

Poland and the Czech Republic have increased their fashion sales abroad by 104% and 99.16%, respectively, in the last ten years.

Goldman Sachs confirms the noticeable impact of the coronavirus on luxury products which could end up weakening the industry throughout the year.

The World Trade Organization (WTO) has explained that the volume of world merchandise trade fell by 0.2% in the third quarter of 2019.

Fashion commerce in the British market has changed course in the first month of the year following the 3% decline in December.

The Asian country is the second-largest focal point of the coronavirus epidemic, where the Diamond Princess cruise ship is docked and holds a hundred infected individuals.

In January, the country's fashion exports registered a year-on-year increase of 5.8%, according to the latest data from the Istanbul Apparel Exporters Association (Ihkib).

From factories to fairs, the epidemic has put the entire value chain of the fashion business in check, and its impact is still uncertain.

Vietnam recorded a 9.6% increase in its fashion exports to North America while Bangladesh’s sales to the US market plummeted by 1.8% in the last year.

Shaw is a fashion sourcing consultant with an extensive experience in the fashion industry, especially in the region of Africa. The consultant works with small and medium sized enterprises and even government organizations who seek to start a business in Africa.

As of mid-August, the Asian country will have to apply charges on exports of certain clothing and footwear products.

From the 413 million tons of cellulose fiber that is produced annually, 184 million tons come from virgin wood fiber.

Logistic restrictions have been implemented due to the epidemic put production and shipments in check from the largest clothing factory in the world. The country exports 157.8 billion dollars in clothing each year.

American fashion groups have gone from having a 50% share in the top ten fashion retailers to 40% according to the Global Powers of Retailing, which features 250 largest retailers across the world.

Groups like Nike, Burberry or Capri, which have one of their main markets in China, have already anticipated the impact that the crisis will have on their annual accounts.

In the eurozone countries, last year, the sector recovered with a 0.3% growth following the drop in 2018, according to data from the European statistical agency Eurostat.

The retail fashion commerce in Europe suffers a year-on-year drop of 0.2% in December, according to Eurostat data.

Last week, France announced that it will ban companies in the fashion sector from destroying unsold items. The French Government follows in the footsteps of the United Kingdom or the city of New York.

In a span of ten years, American companies have been progressively battling to gain more shares in the fashion sector, the percentage grew from a shy 20% to 50%.

The US denim company has ended the period with a revenue of 5.8 billion dollars.

The United Kingdom will officially leave the European Union this midnight, Paris time, after yesterday’s ratification of the agreement by the Parliament.

The president of the United States has officialized the USMCA trade pact between the United States, Canada, and Mexico.

Wuhan, capital of the Chinese province of Hubei is one of the main business destinations in the area, where companies such as Shiseido, Hermès, Prada or Louis Vuitton operate.

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Modaes Global - Markets | Macroeconomic news related to the fashion business. All the news of macroeconomic indicators of the textile and fashion industry. - Modaes Global.

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