NEW YORK — For the past decade, the coming end of quotas on apparel and textiles was pitched as a great development opportunity for much of the Third World. But private and public sector leaders are now raising concerns that rather than being a boost, the changes could cost millions of jobs in many desperately poor nations that can ill afford to lose them.
That’s because if the handful of nations, including China, realize the substantial market share gains that are expected after the nations of the World Trade Organization drop their textile and apparel quotas Jan. 1, their growth will result in many other developing nations losing apparel exports. For many nations, apparelexports are a critical source of foreign exchange earnings and employment.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)