BEIJING — The action this summer by China’s central government to step in with new tax policies to boost flagging textile and apparel production was welcomed by the industry, but executives said that small step is inadequate to bandage the bleeding sector.
Across the Pearl River Delta, China’s main manufacturing hub, thousands of textile, clothing and shoe factories have shut their doors in the past year. Vast stretches of what was China’s main production hub are now home to empty factories, with some companies moving to cheaper locations and others having quit the business entirely.
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)