DAVOS, SWITZERLAND — Reducing supply chain barriers to trade, such as border administration and transportation and communications infrastructure, could sharply boost global production and trade, a report by the World Economic Forum said.Lowering such impediments to global commerce would also help lower costs to companies, including in the textiles and apparel sector, and ultimately lower consumer prices, said the study, released here Wednesday at the WEF annual summit.The report, “Enabling Trade: Valuing Growth Opportunities,” compiled in collaboration with Bain & Co. and the World Bank, estimates that reducing supply barriers even 50 percent to the world’s best practices could increase world gross domestic product 4.7 percent, or $2.6 trillion, and exports 14.5 percent, or $1.6 trillion.RELATED STORY: European Leaders Push for EU-U.S. Trade Pact >>It also highlights, through 18 case studies, that removing barriers that companies face can enhance competitiveness.“Eliminating supply chain barriers eliminates waste for companies,” said Mark Gottfredson, a partner at Bain & Co.Gottfredson said red tape is one barrier that can be tackled at a low cost, and noted when shipping low value goods such as apparel, supply chain barriers can be expensive.In Madagascar, the report shows, barriers can account for up to 4 percent of total revenues of an apparel producer through higher freight costs and increased inventories, “eroding the benefits of duty-free access to export markets,” and its competitive status due to lower labor costs — the country’s minimum wage is $35 a month, compared to $53 in India and $155 in China.“Madagascar’s border administration procedures present operational problems that result in significant delays,” the report notes.Such supply barriers, it adds, limit Madagascar’s apparel companies’ access to some of the apparel industry’s most lucrative markets, such as the fast-fashion segment, which has an annual growth rate of 14 percent and now accounts for almost 20 percent of the apparel market.“With inventory turns every two to eight weeks, fast fashion companies like Zara and H&M depend critically on reliable deliveries,” it said.
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim
“I genuinely fell in love with water, I fell in love with Fiji, I fell in love with the whole life that we lived for those few months,” says @mrsamclaflin of filming for his new movie “Adrift” with @shailenewoodley. The 31-year-old actor spoke with WWD about his upcoming projects, meeting Jamie Dornan and working with co-star Woodley. #wwdeye (📷: @jamstoker)
3 years ago, fans of the late singer Aaliyah started calling for a collaboration with @maccosmetics. With the strength of social media — including mock ups of products — 25,000 people signed a Change.org petition for a limited-edition collection, and MAC couldn’t ignore the buzz. Tomorrow, MAC will unveil MAC x Aaliyah, a tribute to the singer who passed away nearly 17 years ago. Head to our stories to preview the new collection, which was worked on by Aaliyah’s family and inspired directly by her makeup bag. #wwdbeauty
Artistic director @clarewaightkeller will be dedicating @givenchyofficial’s fall 2018 couture show in Paris on July 1 to house founder Hubert de Givenchy, who passed away in March at age 91. Givenchy said the collection would be “an homage to his iconic creations, technique, and personal lexicon” and a “celebration of his timeless elegance and grace.” Head to WWD.com to read more. #wwdfashion (📷: Delphine Achard)
La Double J made a name for itself with its vintage-inspired prints, but for resort, designer JJ Martin has ventured into new territory: enter rich jewel toned solids and decadent embellishment, in the form of appliqués, crystals and sequins. #wwdfashion #resort19 #ladoublej
This Just In: J. Crew Group has named Johanna Uurasjarvi as its chief design officer.
Uurasjarvi succeeds Somsack Sikhounmuong, who left the company last September. Tap the link in bio for the full report. #wwdnews
“She came into my hotel room and she was like, ‘I have Chanel and Christian Dior.’ She was like, ‘Chanel likes you.’ And I was like, ‘I’m going to start crying,’” breakout star Maddie Hasson tells WWD of her styling sessions Molly Dickson. “I really like classic, elegant things. I love the way Anna Wintour dresses.” Read more about Hasson’s role in @impulseseries on wwd.com. (📸: @jgreenery ) #wwdeye
@virgilabloh revealed he's working with Australian stylist and
Vogue Australia fashion director @christinecentenera for his debut @louisvuitton men's collection, which will be presented in Paris on June 21. Centenera met Abloh while both working with Kanye West, where she consulted on his all his runway collections since his debut spring 2012 women's wear show. Read the full story on WWD.com. #wwdfashion #wwdnews (📷: @asussmanphoto)