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China's Trade Policy
Federated to Divest Lord & Taylor Division
Top Forms to Design a
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High-Tech Underwear in Demand
Wholesale Prices up
Cortefiel Opens 5 Stores
Sports Illustrated Model Loses Rights to Lingerie Name
December Retailers' Sales Review
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January 15, 2006
Women's Wear Journal
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Textile Groups Call US to
Reassess China's Trade Policy
US textile groups are among those calling for the United States to
reassess its trade policy with China after new figures released by the US government on January 12 showed that the US trade deficit
with China is likely to exceed $200bn in 2005.
This news comes on the heels of China’s announcement in December 2005 that it had underreported its Gross Domestic Product by $280
“Enough is enough,” said Auggie Tantillo, executive director of the American Manufacturing Trade Action Coalition
“It is long past time for US policymakers to recognize that China is a superpower in terms of international trade. The United States
can no longer allow China to use predatory trade practices to destroy US jobs and factories.
“The only way to rein in the job-destroying trade deficit is for the US government to demonstrate to the Chinese that they will not
get unlimited access to our market when they use unfair trade practices to run US
industry out of business,” Tantillo concluded.
In terms of immediate action, AMTAC wants the US Congress to pass S 295, the Schumer-Graham legislation to
penalize China if it refuses to float its currency.
Second, in light of the true size of its economy, the United States should
not allow China to claim developing country status in the ongoing World Trade
Organization (WTO) Doha Round negotiations.
As for the long term, AMTAC notes that among the many policy changes needed are major revisions to US tax policy, away from an
income-based tax system to a value-added tax (VAT) system.
according to US government figures released, the US trade deficit with China was $185bn from January to November 2005.
When the numbers for December come in next month, the total trade deficit with China is expected to rise to the $203bn to $205bn
Kmart to Axe Workers
Sears Holdings’ Kmart subsidiary is to axe an unspecified number of
workers as it revises staff levels at its 1,400 stores, according to press reports.
Jobs would be added at some stores, and plans would be announced to employees in the next few days but not disclosed publicly.
It was reported the changes were not a result of recent financial results, but the outcome of a staffing review.
The company has not indicated how many people may be affected by the lay-offs.
Kmart currently has about 133,000 workers.
A model displays a lingerie creation from Nail
company's 2006 collection in Beirut
Federated to Divest Lord
& Taylor Division
Federated Department Stores has revealed plans to exit its Lord &
Taylor division before the end of 2006.
Terry J Lundgren, Federated chairman, president and chief executive, said:
"After a thorough review, we have concluded that Lord & Taylor does not fit with our strategic focus for building
the Macy's and Bloomingdale's national brands.
"However, Lord & Taylor is a niche specialty retailer with a great name,
many outstanding locations, an experienced management team and a strong customer following that makes it a desirable
Lord & Taylor operates 55 stores in New Jersey, New York, Illinois, Massachusetts, Connecticut, Maryland, Virginia, Michigan,
Pennsylvania, Missouri, Delaware, Florida and the District of Columbia. The division's 2004 sales were US$1.566 bn.
Federated took on the business when it acquired May Department Stores in August last year.
Federated will now account for Lord & Taylor as a discontinued operation in its monthly sales and quarterly earnings reports. This
is expected to reduce fourth-quarter 2005 earnings from continuing operations by approximately 10 cents per share.
Goldman Sachs and JPMorgan Chase are advising Federated in the divestiture process.
Federate operates about 950 department stores and more than 720 bridal and formalwear stores in 49 states, the District of
Columbia, Guam and Puerto Rico.
Chinese Clothing Market Fights Court Piracy Ruling
Beijing Xiushui Haosen Clothing Market is fighting a court ruling against it connected to the sale of fake branded goods.
The market has been ordered to pay out compensation to luxury clothing companies Burberry, Chanel, Gucci, LVMH and Prada for
allowing pirated garments to be sold by market vendors.
However, Xiushui said it had taken action against the sale of fakes by banning vendors who sold them, compiling lists of banned brands
and carrying out anti-piracy training.
Xiushui chairman’s assistant Wu Weishuang was quoted as saying the judgment
would be "a calamity" for China’s markets if it were upheld.
Wu added that market vendors frequently sell pirated products in secret and that landlords were not in a position to perform stock
China's 2005 Textile Trade
China reported an estimated 20% rise in revenue, profits and
exports in 2005 despite trade rows with the US and the EU, according to a report from the China Chamber of Commerce for Import
and Export of Textiles.
Sales revenue for the year totaled CNY2trn (US$250bn) as profits reached CNY66bn and exports were CNY116bn.
The chamber said the increases had been driven by a ramp up in investment into fixed assets as well as technological innovations.
Sales, revenue, sales value and industrial added value of large-sized Chinese textile businesses grew 26.33%, 26.28% and
24.95% respectively, on a year-on-year basis.
Combined exports to the US and the EU leapt 62.7% during the first ten months of the year, making up 34.09% of all Chinese exports,
Both the US and the EU have been acting to protect their industries from Chinese growth following the end of global trade quotas at the
start of 2004.
Portugal's Textile &
Garment Exports Drop 7.7%
Portuguese textile and garment exports slipped 7.7% year-on-year between January and September 2005, according to statistics from
the Portuguese center for applied textile studies CENESTAP.
Data showed textile and garment exports dropping to EUR3.09bn (US$3.67bn) in the nine-month period, which included a 9.4% slump
in clothing exports.
Conversely, imports of textiles and clothing fell 5.8% to EUR2.24bn.
The figures equate to a trade surplus of EUR846.9m during the period, which represents a 12.4% decrease.
EU Trade Commissioner Peter Mandelson is addressing the concerns of
the retail sector regarding China-EU trade relations, according to the British Retail Consortium’s director general, Kevin Hawkins.
A letter from Mandelson said he acknowledged concerns over the EU’s intentions to impose antidumping duties on leather footwear and
plastic bag imports from China.
Mandelson's comment comes in response to a written plea from the BRC and 13 of the UK's top retail chief executive officers before
Christmas for the European Commission to act now to avoid a repeat of the
Chinese textiles dispute last summer.
According to the BRC, Chinese-made shoes could rise in price by about GBP5 (US$8.8m) should protectionist measures – encouraged by
countries such as Italy and France – be put into place.
In response, Mandelson said he has made China-EU trade relations one of the key priorities of his mandate and is committed to
"fostering growth in Europe by opening up our markets to competition".
Mandelson also agreed that anti-dumping should not be used as an anti-competitive shield against undesired imports.
The BRC met China’s Vice Minister for Trade, Gao Hucheng, to discuss these concerns and with the aim to preventing duties being
Sri Lanka to Set up
New Clothing Factories
Sri Lanka will set up 50 of its 300 new clothing factories within
rural areas of the country.
Under a governmental plan, factories with an investment of LKR30m (US$300,000) and over, which will open up 200 jobs, will be
initially established in rural Sri Lanka.
Apparel and textiles make up almost 50% of the country’s total export earnings.
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Turkish Apparel Companies
Plan for Franchises
Three Turkish apparel companies have announced new plans for franchises.
Underwear maker Via Magazacilik is planning franchised Girlstop stores in Adana, Bodrum, Antalya, Izmir, Kayseri, Trabzon and Eskisehir this year.
The company currently operates franchised stores in Saudi Arabia, Greece and northern Cyprus.
Clothing retailer and manufacturer Collezione is looking to open franchised stores in Istanbul, Ankara, Adana, Sakarya, Trabzon, Mersin, Diyarbakir, Bitlis and Corum.
Clothing retailer Koray is to give franchise rights within the Black Sea area.
The company currently has stores in Ankara, Antalya, Ordu and Aksaray.
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