GENEVA — The Cambodian economy is forecast to grow 6.7 percent in 2013, up from last year’s 6.5 percent, driven by resilient exports, largely of apparel, an International Monetary Fund report said.The report said apparel exports “continued to expand by 10 percent (year-to-year) during the first three quarters of 2012, in part thanks to improved access to the European Union.”Apparel accounts for more than 80 percent of Cambodia’s exports of goods. Overall, the IMF projects exports to grow 10.7 percent in 2013 to $6.3 billion and inflation to average 3.8 percent.The IMF country assessment cautions the outlook is subject to considerable risks stemming from the fragility of the world economy, and from some domestic factors, including potential labor unrest. In a risk assessment, the IMF said, “Prolonged labor disputes and strikes could erode Cambodia’s competitiveness over the medium term.”It also warns that spillovers from a deterioration of the euro zone financial crisis could be significant for the Southeast Asian nation of 14.5 million people. But the IMF noted that the impact, so far, “has been relatively contained, given Cambodia’s special zero-tariff access to the European Union.”The IMF concluded that growth in Cambodia could reach 7.5 percent by 2017, but said this depends on a pick-up in the global economy and continued structural reforms, including the modernization of infrastructure.Der Jiun Chia, a member of the IMF executive board from Brunei, in a presentation on behalf of Cambodia, said 1,015 megawatts of electricity generation capacity would be added in 2012-13 from the operation of six hydro power projects. The provision of more affordable electricity would also help boost export growth, especially in the manufacturing and apparel sectors, the official noted.The Garment Manufacturers Association of Cambodia has often singled out higher electricity costs, along with lower productivity, as key factors why total manufacturing costs in the country, despite lower wages, are about 20 percent higher than in neighboring Vietnam.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim