News from World

tag: covid

23 February 2023

Zhang Yuan, owner of a leather goods shop was delighted to have Mongolian merchants return.

Border cities like Erenhot have seen a boom in business since cross-border travel resumed between China and its neighbors, as a result of optimized COVID-19 controls. Statistics showed that the Erenhot highway port has recorded a daily average of about 600 passenger trips since Jan 8. The port also handled 1.42 million metric tons of cargo last month, up 98.2% year-on-year. [Business booms on China-Mongolia border - Chinadaily.com.cn]

15 February 2023

Jimmy Choo and the difficulties of Covid in China

In the fiscal third quarter ended Dec. 31, Jimmy Choo posted revenues of $168 million, down by 5.6 percent year-over-year on a reported basis but up by 3.4 percent at constant currency rates. The brand’s performance was affected by the surge in Covid-19 cases in China as the country reopened. Excluding mainland China, revenues increased by 10 percent in local currencies. [Jimmy Choo's quarterly sales hit by Covid resurgence in China - shoeintelligence.com]

16 January 2023

A gloomy economic picture

Growing protectionism and worsening international cooperation could badly damage the world economy, the International Monetary Fund said. Its report, released on the eve of the Davos summit — a paean to free trade and global integration — argues that poorer countries would be hit harder than rich ones. The projections add to continued gloom over economic prospects worldwide, with economists still predicting a recession as likely, despite signs of slowing inflation and hopes that China’s abandonment of zero-COVID could boost growth. [Confronting Fragmentation Where It Matters Most: Trade, Debt ... – IMF]

11 January 2023

Online sales of shoes: inflation leads to an increase in the value of footwear

According to data published by the Comisión Nacional de los Mercados y la Competencia (CNMC), in the second quarter of 2022 electronic sales of footwear and leather goods recorded a turnover of €137.8 million in Spain, +10.8% compared to Q2 of 2021. Compared to the same period in 2020, with stores closed for Covid-19, we see that the value of sales is only 0.2% lower. On the other hand, volume decreased by 13.4% compared to the second quarter of 2020. [La inflación dispara el valor de las ventas de calzado en internet - revistadelcalzado.com]

04 January 2023

COVID surge hits China’s economy

China’s skyrocketing cases of COVID-19 since it abandoned pandemic restrictions are hampering its economic recovery.

09 December 2022

CNC: economic overview of the leather sector

How has the leather industry dealt with French Covid-19? What are the challenges that have emerged? How is the sector adapting to high inflation and changing consumption? So many issues on which the "DOSSIER ÉCONIMIQUE DE FILIÈRE FRANÇAISE DU CUIR POUR L'ANNÉE 2022" of the Observatoire Economique du Conseil National du Cuir (CNC), invites us to think.

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