Economy
Indian leather industry seeks fiscal incentives in 2024 Budget
The Council for Leather Exports (CLE) in India has called for several financial incentives for the leather industry in the forthcoming Budget 2024
European associations call for ratification of EU-Mercosur agreement
A total of 23 associations representing a range of European industries and other businesses, including CEC, have once again urged the EU to conclude and ratify the EU-Mercosur agreement
German industry association warns of new wave of insolvencies and closures
The German Trade Association for Textiles, Footwear, and Leather Goods (BTE) recalled that repayment of state aid under the pandemic approach, increasing the pressure on an already struggling sector
UK Retail: stabilisation of the footwear trade is the best we can hope for at the moment
The bad weather in July and August may not have helped retail over the summer, but it would be ill-advised to believe that’s what it’s all about. Despite some improvements in the general consumer price index, the footwear segment continues to show some resistance to going along with the trend. Inflation will have to continue to fall in order to contribute to sustained sales growth in the future, as most consumers have too much on their plate to spend on non-discretionary items. The only positive sign comes from imports, whose data seems to indicate that at least a stabilisation in retail trade is on the horizon
South Africa calls for more economic cooperation with Namibia
South African’s President Cyril Ramaphosa has urged business leaders from both countries to further develop cross-border value chains in key areas such as leather to boost their economic development
Less than a month to go until the World Footwear Congress
The global footwear sector will meet on the 8th and 9th of November in Istanbul to reshape its future in a macro environment marked by uncertainty, high inflation and geopolitical instability
Colombian footwear industry slows down in 2023
After growing substantially in 2022, the Colombian footwear industry slowed down in 2023 due to the impact of high inflation, rising costs and low consumption, says ACICAM’s Vice President
Italian footwear exports to Russia increase despite the current context
Exports of Italian footwear to Russia increased in value and volume in the first quarter of 2023, as compared to the same period last year
UK: footfall declined over Summer holidays
According to the data from British Retail Consortium Sensormatic IQ, footfall decreased by 1.6% in August, after rising by 1.8% in July, as compared to the same month of 2022
International economic context weighs on Brazilian footwear exports
Falling global growth rates and high inflation continue to affect the performance of Brazilian footwear exports, which have been declining in both volume and value in the past months
Primark lowers prices across selected ranges of kidswear essentials
The fashion retailer has announced that it will lower prices on essential children’s items from the end of July to help British families cope with the ongoing high inflation
Wave of layoffs continues in Vietnam
An estimated 217 800 people have lost their jobs in Vietnam in the second quarter of 2023 due to the significant decline in orders since the end of 2022, says the General Statistics Office (GSO)
Italian footwear exports grow in value but decline in volume
In the first quarter of 2023, Italian footwear exports increased by 16.1% in value, but declined by 2% in volume, as compared to the same period of 2022, says Assocalzaturifici
UK Retail: a too-long string of ifs damps the mood
Consumer confidence in the UK has yet to take off to somehow improve retailers’ mood in the textile and footwear sectors. Rising wages, falling energy bills and even slightly lower inflation may help brighten the atmosphere, but the uncertainty surrounding all of these factors doesn’t help retail much at present. For now, except for sticking to their previous conservative import decisions and watching closely for upcoming changes in consumption patterns, there’s little to be done
UK-listed retailers' profit warnings fall to the lowest quarterly total since 2020
In the first quarter of 2023, UK-listed retailers' profit warnings fell to the lowest quarterly total since 2020, but “persistent inflation, high-interest rates and tightening consumer spending” continue to challenge the sector-
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