GENEVA — Greenfield investments in the global textile and apparel industry, spearheaded by major outlays in the retail segments in key markets such as the U.S. and China, posted a sharp rise in 2013 to reach a historic high in excess of $24 billion, more than twice the 2012 level, a United Nations report said.
New investment projects in the textile and apparel retail businesses globally totaled $17.7 billion, while new investments in textile and apparel manufacturing reached $4.5 billion, while logistics, distribution and transportation came in at just over $1 billion, according to the U.N. Conference on Trade and Development’s “World Investment Report, 2014.” Greenfield is a form of foreign direct investment where a parent company starts a new venture in a foreign country by constructing new operational facilities from the ground up. In addition to building new facilities, most parent companies also create new long-term jobs in the foreign country by hiring new employees.
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)