Home / Knowledge / News / Apparel/Garments / Decline in fortunes of the textile and clothing industry
Decline in fortunes of the textile and clothing industry
15
Aug '08
Sales in the Czech textile and clothing industry fell by nearly 14 percent compared to last year to touch Kc22 billion in the first half of 2008. This was largely because of appreciation in national currency which was rapidly eroding the profit margin of the exporters and manufacturers alike.

Separately, sales of clothing, dropped by around 20 percent to Kc3.7 billion while those of textile plummeted by around 13 percent to Kc21.7 billion.

Besides, energy prices have soared so high and have impacted the industry to such an extent that even a relatively high number of orders cannot raise the profitability of any company.

Additionally, staff numbers in the textile and clothing companies employing 20 or more people also fell by about 8 percent to 52,500. In fact, between mid 2007 to mid 2008, textile companies in Czech Republic laid off 3,000 people which accounts for about 6.6 percent of the total workforce in the segment.

Falling sales and a decline in labor productivity in the first half of this year compared to the corresponding period last year has also badly affected the profits of textile enterprises. While productivity has dropped by about 2 percent in the textile industry, it has dipped by nearly 6 percent for clothing sector.

If the problems persist, it will be hard times for the textile and garment sector of the Republic, which contributes immensely to the revenues of the country.


Must ReadView All

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search