GENEVA — Export demand is expected to continue fueling robust economic growth for Asian apparel exporters Bangladesh, Cambodia and Vietnam, a United Nations report said.In 2016, growth in Bangladesh, the world's second-largest exporter of apparel, reached a decade-high rate of 7.1 percent, the report said, concluding "net exports of goods and services drove the overall economic expansion as a result of steady export growth, mainly in ready-made garments."For this year, and 2018, analysts at the U.N. Economic and Social Commission for Asia and the Pacific, or ESCAP, project economic growth in Bangladesh to remain high at 6.5 percent to 6.8 percent.Similarly, ESCAP in its "Economic and Social Survey for Asia and the Pacific 2017" study, was upbeat about the outlook for Cambodia. That nation's economic growth "remained solid at 7.2 percent in 2016," it said, attributing a large share of the gains to garment exports."Exports of ready-made garments, accounting for about 80 percent of exports, continued to expand well as a result of privileges enabling countries such as Cambodia to gain access in developed countries."Looking ahead, ESCAP forecast Cambodia's economic growth to "remain rapid at 7.1 to 7.2 percent during the period 2017-2018," and also noted, "exports are set to grow further."The U.N. said the near-term outlook was also positive for neighboring Vietnam, with economic growth estimated at around 6.5 percent to 6.7 percent during 2017-2018."Exports are expected to remain buoyant in the face of stronger import demand in the U.S., which accounts for almost a quarter of Vietnam's shipments," it said.The Bangkok-based U.N. agency said that continued "relocation of businesses in search of low-cost manufacturing activities, particularly in China, would support private investment."With regards to China, the world' biggest emerging economy, ESCAP said output growth is projected to "soften further" to 6.5 percent in 2017, down from 6.7 percent last year. The report argued consumer spending is likely to fuel China's growth, as exports are expected "to improve only gradually in the wake of rising protectionism."But the report also voiced concerns over China's ballooning debt situation."China had an estimated 270 percent debt-to-GDP ratio in 2016, mostly driven by the real estate sector and private firms. The country's rapid credit growth is increasingly a cause for concern amid capital outflows and domestic currency depreciation."
Supermodel @helenachristensen teamed up with longtime friend and designer @camillastaerk on a joint @paredeyewear collaboration. The lineup features three styles and 11 offerings, all of which embody a vintage feel. Get all the details on how they celebrated the collab on WWD.com. #wwdaccessories #wwdeye (📷: @slovekinpics)
“It’s a hard industry to keep motivated, as well, so finding different subjects and people is what makes it worth it – when you’re like, oh, I’ve met great people, I feel like I’ve done something good, and I feel proud of having done this,” said French actress Stacy Martin on being grateful for the variety of roles she’s take on. Read @ktauer’s full interview with Martin on her her latest film “Godard Mon Amour.” #wwdeye (📷: @danieldorsa)
After showing in front of the Eiffel Tower for his last two women’s ready-to-wear collection, it looks like @anthonyvaccarello may be heading to the Big Apple. Sources say the designer will stage his next @ysl show in NYC on June 6. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion