Urgent action needed to secure living wages in Bangladesh: Swedwatch

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Despite being one of the EU’s key apparel suppliers and a recent rise in the national minimum wage, most garment workers in Bangladesh earn wages far below what is needed to cover basic living expenses, according to Stockholm-based Swedwatch.
The non-profit called on global brands and EU policymakers to take coordinated action to improve wages and conditions for garment workers.

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Finland’s Amer Sports Q3 revenue reaches $1.35 bn, 17% YoY growth

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Amer Sports Inc has reported revenue of $1.35 billion in Q3 2024, up 17 per cent YoY, with operating profit rising 69 per cent to $177 million.
Gross margin improved by 400 bps to 13.1 per cent, and net income reached $56.2 million.
For 9M 2024, revenue rose to $3.55 billion, net income improved to $61.3 million.
Full-year 2024 guidance forecasts 16-17 per cent revenue growth.

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Germany tops Turkiye’s apparel export markets among G20 countries

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Germany was the largest G20 market for Turkiye’s apparel exports, valued at $2.15 billion in January-September 2024.
The UK and France ranked second and third, with exports of $1.03 billion and $615 million, respectively.
Exports to the US, Italy, and Russia also declined compared to 2023.
Other smaller markets included Saudi Arabia, Canada, and Australia.

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Germany’s Outlast & Reusch unveil ‘Attrakt Gold X Airvent’ gloves

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Reusch has partnered with Outlast to launch the ‘Attrakt Gold X Airvent’ goalkeeper gloves, featuring temperature-regulating Outlast technology.
This innovation helps manage heat and moisture, enhancing comfort and performance, especially in hot conditions.
The gloves offer goalkeepers improved comfort, enabling them to focus on their game, while Outlast technology is used globally in various industries.

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US’ Gap Inc reports net sales of $3.8 bn, up 2% YoY in Q3 FY24

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Gap Inc has reported net sales of $3.8 billion, up 2 per cent YoY in Q3 FY24, with a 1 per cent rise in comparable sales and a 7 per cent increase in online sales.
Gross margin improved 140 basis points to 42.7 per cent, while net income reached $274 million.
For 9M FY24, net sales grew to $10.9 billion, with net income doubling to $638 million.
FY24 sales are projected to grow by 1.5-2 per cent.

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Vietnam’s Binh Dịnh clears fashion manufacturing plant worth $20 mn

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Vietnam’s Binh Dịnh Economic Zone Authority has granted an investment certificate for the TnB Vietnam fashion manufacturing plant project, funded by Singapore-based HGQ Asia.
The first phase will see construction of workshops, warehouses and offices, installation of machinery, workforce recruitment and training, and initiating production till October 2026.
The second will focus on expansion.

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Revised data shows Bangladesh RMG exports dip 5.22% in FY24

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Bangladesh’s RMG exports declined by 5.22 per cent to $36.151 billion in fiscal 2023-24, missing the $52.272 billion target by 30.84 per cent, according to revised EPB data.
Knitwear and woven apparel exports dropped, while home textile exports saw a sharper 22.05 per cent fall.
The new regime revised prior fiscal data, revealing discrepancies in reported RMG exports under the former government.

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