Europe’s first “green steel” plant could produce its first batch of steel by 2025. [The race across Europe to build green steel plants - BBC News]
According to Technavio, the global leather handbags market size is estimated to grow by USD 8.5 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 4.84%. Moreover, the growth momentum will accelerate. APAC (North America, Europe, South America, and Middle East and Africa) will account for 32% of the market's growth during the forecast period.
Inflation across Europe may have peaked. Price rises in France, Germany, and Switzerland all unexpectedly slowed in December, driven in part by lower energy prices, while inflation in the eurozone is expected to drop below 10% when new figures are released on Friday. [German Inflation Slowed ... - French Inflation Unexpectedly Slows... - Swiss Inflation Slows… - bloomberg]
As supply chains remain under pressure, garment manufacturers have an opportunity to lean into vertical integration, nearshoring and small-batch production, while seeking closer upstream and downstream collaboration, according to The State of Fashion 2023, an in-depth report on the global fashion industry, co-published by BoF and McKinsey & Company.
The confirmation of the Congress of the Inflation Reduction Act of 2022 (IRA) has fuelled fears of a transatlantic trade war in the EU. The plan – a huge fiscal, climate and health package in place from 2023 – provides subsidies of more than $369 billion to companies in the renewable sector. The law offers tax incentives to those who choose to buy products made in the USA (eg electric cars). This dissuades Americans from turning to European producers, who would be forced to produce on US territory.
To fight global climate change and biodiversity loss, Parliament demands companies ensure that products sold in the EU do not come from deforested or degraded land. .[Press Release by @Europarl_EN]
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