Myanmar’s political instability, lockdown in Cambodia and a the COVID-19 situation in India has prompted international retailers and brands to divert work orders to Bangladesh. Export earnings hit $3.13 billion in April.
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The fund will be utilised for expanding the brands’ Direct-to-consumer (D2C) footprint domestically and internationally. The parent company of fashion brands, FabAlley and Indya, had raised Rs 207.4 million in June 2020.
Myntra is supporting its brand partners during the second wave of coronavirus. It is providing them Covid insurance and reimbursing the vaccination costs. It has relaxed order fulfilment turnaround time to 48 hours.
US consumers are shopping for summer wear, with relaxed COVID-19 restrictions and vaccinations. Analysts believe the pent-up demand for apparel and accessories will benefit Poshmark in the second quarter of 2021.
According to US Census Bureau, exports from Cambodia to the US were $6.6 billion in 2020, which was 22.79% higher than that of last year. Q1 of this year saw total exports of $1.86 billion even amid stoppages.
Prato, a Chinese community, located 11 miles north of Florence, has been the victim of coronavirus. Since the virus hit the community last year, it is believed that around 2,500 people, or 10% of the community has left.
With a spike in the number of COVID-19 cases, Karur textile manufacturers and exporters association has announced a complete shutdown of the manufacturing units starting May19.