All Trade & Sourcing articles – Page 7
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News briefs
Russia allows to repay foreign debt in rubles
The Russian government has established a list of “hostile” countries whose debt towards Russian individuals and corporations can be repaid in rubles. The list includes member states of the European Union, Australia, the U.K., Canada, Monaco, South Korea, the U.S., Switzerland and Japan. Under the new legislation, Russians will be ...
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News briefsLenzing opens world’s largest Lyocell plant in Thailand
Lenzing has announced the completion of its €400 million Lyocell expansion project in Thailand. The new plant, which is described by the company as the largest of its kind in the world, has a nameplate capacity of 100,000 tons per year. Construction work started in the second half of 2019 ...
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ArticleVietnam sees leather goods, footwear exports up 10-15% in 2022
Vietnam’s exports of leather, footwear and bags this year are expected to increase by 10-15 percent in 2022 to $23-25 billion, according to the Vietnamese leather, footwear and handbag association, Lefaso. In 2021, Vietnamese exports of leather, footwear and handbags increased by 4.6 percent to $20.78 billion, with footwear exports ...
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ArticleTurkish footwear manufacturers are benefitting from a reshoring from the Far East
Exports of Turkish footwear rose by 22.9 percent in 2021 to over $1 billion for the first time. Overall exports of leather and leather goods reached $1.73 billion, with footwear representing 58.3 percent of the total. Russia was the main export market for Turkish shoes, up by 24.5 percent to ...
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News briefs
Uzbek shoe imports rise in first 11 months
In the first 11 months of 2021, Uzbekistan imported 3.5 million pairs of shoes from 46 countries for a total value of $12.8 million, up by $4.8 million from the same period in 2020, according to the State Statistics Committee. The top three countries from which Uzbekistan imported footwear during ...
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News briefs
Caprice to source shoes from Sri Lanka
Caprice, a brand of the German footwear group Wortmann, will start sourcing shoes in Sri Lanka in order to diversify its production in South Asia. The company already imports shoes from Pakistan, Bangladesh and Myanmar. From April 2022, a factory in Sri Lanka’s capital Colombo will start manufacturing leather shoes ...
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News briefs
Pittards not affected by situation in Ethiopia
Pittards, a British producer of leather and luxury leather goods, said that its activities in Ethiopia have not been affected by the war in the country. “The board is mindful of the current situation in Ethiopia. At present, the group’s operations in Ethiopia, including the free flow of goods, activities, ...
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News briefs
Transport industry calls on governments to ease Covid-19 restrictions
The representatives of the global transport industry called on governments to act rapidly to avoid further disruption to the global supply chain caused by Covid-19 related restrictions. ”The impact of nearly two years’ worth of strain, placed particularly upon maritime and road transport workers, but also impacting air crews, is ...
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ArticleSteve Madden Q2 above expectations
Steve Madden posted higher-than-expected results in the second quarter and has shifted a significant part of its production out of China to Mexico and Brazil to address supply chain issues. The company also reported strong growth in Europe thanks to e-commerce.
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ArticleCovid outbreak closes major factories in Vietnam
A sudden and violent outbreak of the Covid-19 epidemic in Ho Chi Minh City (HCMC) and its environs is expected to delay shipments of shoes and apparel and may result in a loss orders for local manufacturers, according to the local NV Express, which cited the shutdown of 29 companies’ ...
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ArticleU.K. fashion industry struggles to absorb higher costs from Brexit
Brexit has led to higher prices and increased bureaucracy for the clothing industry and companies are struggling to absorb the additional costs, a comprehensive industry survey has found. The poll of 138 firms by the UK Fashion and Textile Association (UKFT) showed that British firms are experiencing shipping delays, higher ...
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News briefs
Yantian port backlog will take several weeks to clear
A backlog at Yantian, China’s largest container terminal, will take several weeks to clear, according to the Danish shipping company Maersk. Maersk, which is the largest shipping company in the world, told the news agency AFP that it had been informed by the port’s authorities that activity will return to ...
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News briefs
EU updates VAT rules for international online trade
New EU tax rules for orders placed with non-European online retailers will come into force at the beginning of July. The most important change is the elimination of the previous exemption limit of €22 for direct (B2C) imports. This means that import VAT will be due on all packages, with ...
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News briefs
Russian labeling causing problems for shoe imports
The mandatory labeling introduced by the Russian government for footwear is causing problems with imports, according to market participants. As foreign suppliers are not familiar with labeling rules, Russian importers have to print the labels and send them to their partners with clear instructions on how they must be used, ...
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News briefs
Shipping giant sees tight market conditions until Q4
The world’s largest container shipping company Maersk expects tight market conditions in maritime transport to continue until the fourth quarter of 2021. When commenting on its trading performance, the company said that “the continued strong performance is mainly driven by the continuation of the exceptional market situation with surging demand ...
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ArticleUzbekistan to produce Nike and Adidas footwear for Asia, Europe
The Uzbek company SinoInternational has inked an agreement to produce 3 million pairs of shoes in total under the Nike and Adidas names at its new factory in the Andijan region starting from the fourth quarter of 2021. The facility is expected to achieve full production in the third quarter ...
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ArticleCortina leverages its logistics expertise
Cortina, the Belgian footwear company, is leveraging off its experience dating back to the 1950s in handling the logistics for the shoes it produces. It is now actively marketing these services to third parties under a new brand, Synogix, and with an eye on becoming a logistics partner for internationally ...
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ArticleEU, UK extend Brexit trade talks in effort to avoid a “no deal”
The United Kingdom and the European Union had decided to wait until Sunday, Dec. 13 to find a compromise on a trade agreement that would go into effect on Jan. 1. But, the European Commission’s president, Ursula von der Leyen, said the negotiators will now continue to work into this ...
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ArticleThe U.K. reaches trade accord with Vietnam, but deal with EU unlikely
The U.K. has finalized a free trade agreement with Vietnam, which is scheduled to become effective from Jan. 1. It is the third trade agreement reached with an Asian country, after those with Singapore and Japan. The U.K. has also reached a preliminary trade agreement with Canada. The U.K. is ...
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ArticleMaterial Exchange raises €5 million to accelerate growth
Material Exchange, the Swedish online platform for the procurement of materials, raised €5 million in a funding round as it seeks to accelerate its growth plans after the “business exploded” during the Covid-19 pandemic. “The Covid-19 pandemic has accelerated the digitalization of the industry by at least five years,” said ...
