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Christian Dior's first quarter sales up 5 per cent
The Christian Dior Group announced a modest 5 per cent increase in first quarter 2008 sales, in the latest indication of the softening of the global luxury goods market. The Group's first quarter revenues were valued at US$6.7 billion, despite flat sales from its Christian Dior Couture unit, which netted US$291.7 million.According to a Christian Dior Group statement, "as a result of the negative impact of the exchange rates, reported revenue was lower than the organic growth of 11 per cent."%> ...Details
Publish Date: 1 May 2008
India implements new trade measures to increase exports
According to Kamal Nath, India's Minister for Commerce and Industry, the country will implement new trade policies to curb inflation, sustain export growth, and provide relief to such industries as textiles and clothing that have been hard hit by the rising value of the rupee. The measures include a reduction in the amount of customs duty payable under the Export Promotion Credit Guarantee (EPCG) scheme from 5 to 3 per cent, and an extension of the Duty Entitlement Passbook scheme until May 2009%> ...Details
Publish Date: 2 May 2008
China to fine retailers for providing free plastic bags
Chinese retailers could be fined up to US$1,428 for providing shoppers with free plastic bags beginning 1 June, 2008, according to the Ministry of Commerce in China. Retailers would also have to list the number and prices of shopping bags separately on the sales receipts given to consumers.Earlier, China banned all use of ultra-thin bags and is encouraging eco-friendly substitutes, such as environmentally friendly bags and paper bags made from recycled paper.The new regulation is aimed at reduci%> ...Details
Publish Date: 5 May 2008
Gucci wins copyright case in China
Gucci has successfully defended its brand against Senda Group, a Jiangsu-based manufacturer, which had virtually cloned its label and line of products. The Italian fashion house has been awarded compensation of US$26,000 after a trial at the People's Court of Shanghai, Pudong District.Senda's ladies' sandals bearing the distinctive Italian interlocking GG monogram logo were discovered for sale at Shanghai department store No 1 Yaohan in August 2006.%> ...Details
Publish Date: 6 May 2008
Survey: 10,000 PRD factories may close
According to a recent survey by the Chinese Manufacturers' Association of Hong Kong (CMA), more than 10,000 of the approximately 60,000 Hong Kong companies operating in the Pearl River Delta (PRD) are likely to close down in 2008. The survey also suggested that surging labour and raw material costs, the appreciation in the RMB and the implementation of a new labour law are the main causes for the rise in production costs for labour-intensive manufacturers engaged mainly in exports. The squeezed %> ...Details
Publish Date: 8 May 2008
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