Home / Knowledge / News / Apparel/Garments / Clothing body chief warns of hike in product prices
Clothing body chief warns of hike in product prices
21
Sep '10
Reinhard Backhausen, Head of the Austrian Industrial Association for Textiles, Clothes, Shoes and Leather (TBSL) recently stated that, the consumers should prepare themselves for paying high prices for clothing.

He said that, riding on back of soaring prices of cotton, attributable to sudden crop deficiency, price of clothing available in the stores, is soon expected to go up.

The official highlighted that, owing to heavy demand from China, cotton prices in the country soared by almost 70 to 80 percent in a period of just one year.

He further said that, it is a disturbing state, and some sort of rise in the prices is likely to occur. Also he added by saying that, depending on the distributors price of the products, they may surge by five percent.

However, he noted that the country's textile and footwear sector had been able to overcome the worst period of the economic crisis.

The total sales of the country's 562 companies from the sector touched €4.4 billion in 2009, he said, and added that, the companies jointly employed 24,450 employees' as on June 30, 2010 and who also exported around 75 to 90 percent of their produce.

Moreover, he also stated that, total turnover of all these companies for the initial six months of the year was recorded at about € two million, which is eight percent above the previous year's turnover.

In the previous year, total overall exports from the country stood at €94.2 billion, while imports amounted to €97.8 billion. The country became a member of EU in 1995, after which exports and imports from the country have been growing at a steady rate.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search