JOHANNESBURG, South Africa — The South African government has instituted a multifaceted rescue package in an effort to boost its embattled textile industry that includes dropping tariffs on certain imported fabric.
The rescue package, termed the Customized Sector Program, comprises four components: support measures to improve manufacturers’ competitiveness; capital upgrade measures embodied in an enterprise investment program, in which clothing, textiles and footwear manufacturers will be able to obtain preferential loans through the Industrial Development Corporation at prime minus five percent; skills upgrades, and the elimination of import duties on imported textile inputs, including fabric.
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)