Apparel retailer Gap Inc said it would close a quarter of Gap specialty stores in North America over the next few years, including 140 this year, potentially affecting thousands of jobs as the company struggles with a slump in sales at its namesake brand. San Francisco-based Gap also said it would cut 250 jobs at its headquarters. The company did not say how many employees would be laid off as a result of the store closures. As of Jan. 31, Gap had about 141,000 full- and part-time employee

On 8th June, the National Cotton Market Monitoring System "2015 National Survey of Cotton Sowing Area" released, which introduced the area changes in the three largest cotton sowing area. Same as that in previously issued "2015 National Cotton Sowing Intentions Investigation Report (March)”, the cotton sowing area maintained a double-digit decline. It is understood that this year's cotton area fell showed the following three features compared to last year: 1. Cotton sowing area in mainland ha

Declining exports of cotton yarn to China have worsened the oversupply situation for Indian spinning mills, who are now looking to domestic demand from the garments sector for relief. The impact can be seen in the form of lower capacity utilisation in the mills in southern states where, sources say, most of them have resorted to an estimated 20% cut in production. In April 2014, the Chinese government ended its 3-year-long programme to stockpile raw cotton to support local growers and inst

Cotton acreage in India, the top grower in the world, is likely to drop by the most in over a decade this year, as plunging prices and fears of a drought prompt farmers to switch to cultivating pulses in the hope for better returns, a top trade body official said. Lower output at the world's No.2 cotton exporter, after the United States, should help give legs to a recovery in global benchmark prices that have risen 13 per cent from a five-year low of 57.05 cents per pound plumbed in January.

With 'Make in India' vision remaining a distant dream, Ludhiana's garment machine manufacturers have joined hands to save the industry. "Ludhiana was once known to be one of the only manufacturers of flat machines and the situation turned from bad to worse and now we have negligible exports. Reason is simple that imports from China and Taiwan have increased and our industry is no where in a position to fight back," said Ram Krishan, who has been made the president of Garments Machine Manufact

The export of woven garments to the US registered a negative growth in the first 10 months of the current financial year though the export earnings from the market started to rebound from the beginning of this calendar year. Exporters and analysts said there were various reasons for the negative growth that included decreasing demand for the items on compliance issue, reluctance of exporters for high duty in the market and grabbing market share by the competing countries. The export of w

An Indian delegation comprising executives from six major leather companies that supply the footwear, furniture and automotive industries met around 20 Vietnamese counterparts in HCM City on June 9 to explore business opportunities. Speaking to the media on the sidelines of the event, D Gokulakrishnan, officer on special duty for the Council for Leather Exports of India, said Vietnam was one of the world's largest footwear exporters while India was also one of the world leading exporters of l

The Russian government is considering providing additional state support to its domestic producers of technical textiles and nonwovens. Russian Minister of Industry and Trade plans to provide funds which will help producers to complete currently implemented projects and to launch new ones. According to an official representative of the Russian Ministry of Industry and Trade, part of the funds will be also invested in the technical modernization of the national industry of technical textiles a

Cambodia will begin to discuss the annual increase of monthly minimum wage for the garment and footwear industry for 2016 in July, according to a Labor Ministry' s statement issued late Friday. The talks will be carried out by a tripartite working group, which comprises representatives of the labor ministry, the Garment Manufacturers Association in Cambodia (GMAC), and the trade unions, the statement said. It added that the final result of the negotiations will be released in early October

The garment sector is set to miss its export target this fiscal year after the three-month political turmoil hampered shipments. Between July last year and May this year, garment exports raked in $22.92 billion, which is up 5.51 percent year-on-year but below the periodic target of $24.26 billion, according to data from the Export Promotion Bureau. Now, to meet the yearly target of $26.9 billion, some $3.98 billion has to be earned this month, the closing month of fiscal 2014-15. Atiqul