Clothing makers in Asia give stark coronavirus warning
"But we've also experienced demands for cancellations for goods that are ready or are work in progress, or discounts for outstanding payments and for goods in transit. They are also asking for a 30 to 120 day extensions on previously agreed payment terms."
It comes as garment manufacturers have been hit hard by two major issues related to coronavirus lockdowns. "Garment manufacturing has been diversifying away from China for around ten years due to China's high costs," according to Stanley Szeto of apparel maker Lever Style which supplies premium brands including Hugo Boss, Theory, Vince, and Coach, as well as online names like Bonobos, Stitch Fix and Everlane.
Cambodia and Sri Lanka also rely on the industry for more than 60% of their exports, according to Sheng Lu at the University of Delaware's department of fashion and apparel studies.The industry accounts for more than half of all manufacturing jobs in Bangladesh, and 60% in Cambodia, with production being a particularly important employer of women.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Most New York coronavirus cases originated in Europe, not Asia'It was a disaster that we didn’t do testing'
Read more »
NHS doctor issues chilling coronavirus warning to This Morning viewers: ‘Only one cure!'THIS MORNING viewers were given a stark warning by NHS doctor Dr Larisa Corda on today's show as she urged people to stay at home to help stop the spread of coronavirus.
Read more »
Hong Kong-born nurse who worked in UK for NHS for 40 years dies from coronavirusAlice Kit Tag Ong's family believe she contracted the virus at one of the doctor's surgeries she worked at because staff were not given proper protective equipment
Read more »
Experiments in Austria and Denmark could offer clues to what a post-coronavirus economy looks like | Hamish McRaeAction by nations is likely to give us a better idea of the damage the virus has caused than computer models, writes Hamish McRae
Read more »