The latest data in the CNBC Supply Chain Heat Map shows China is losing more manufacturing to Vietnam, Malaysia, Bangladesh, India, and Taiwan. Exports in furniture, apparel, footwear, travel goods and handbags, minerals, and science and technology are all declining. China’s ‘Zero Covid’ policy is a big factor, with Port of Ningbo, the world’s largest port, the latest to be impacted. [China, 'factory of the world,' is losing its manufacturing ... - CNBC]
In 2023, the global fashion industry will need to weather inflation while finding opportunities in shifting consumer patterns, channel and digital marketing strategies, and manufacturing approaches. Download The State of Fashion 2023
At over 95% of the entire industry, the Footwear Distributors and Retailers of America (FDRA) is the largest and most respected footwear trade association in the U.S. It represents and serves the entire footwear industry from small family owned footwear businesses to global footwear companies, as well as domestic manufacturers, importers, and retailers. FDRA 2022 Shoe Sustainability Benchmark & Progress Report
Global economic growth is facing a unique mix of headwinds, including Russia's invasion of Ukraine, interest rate hikes to contain inflation, and lingering effects of the pandemic such as lockdowns in China and disruptions in supply chains. In turn, the latest IFM World Economic Outlook lowered the global growth forecast for next year to 2.7%, and countries representing more than 1/3 will contract this year and next. Moreover, the latest report prepared for the G20 confirms the gloomier outlook.
Maersk (Maersk) and Freighters International (PABOMI) have announced the opening of a consolidation centre in Modjo Dry Port, Ethiopia. The multi-purpose facility will help to simplify and optimise apparel and lifestyle customers’ supply chains – saving cost, reducing their speed to market, and bolstering competitivity. [Maersk launches new multi-purpose centre in Ethiopia – Port Technology]
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