WASHINGTON — The increasing prices of goods, changing labor patterns and costs and the devaluation of the dollar on the world economic stage are driving apparel and footwear production out of traditional bases in southern China.
It’s a situation sourcing executives referred to as “a perfect storm” of global economic and political factors. Oil and gas prices have increased the costs of some raw materials, and the expense of transporting those materials and finished goods. Add to those elements increased labor costs, a dollar falling against the yuan and moves by the Chinese government to shift apparel production to new provinces, executives said.
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)