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Garment exporters fear losing premium market
February 07, 2021
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Duty on cotton hiked from nil to 10% and on raw silk, silk yarn from 10% to 15% The Budget’s announcement on increasing customs duty on cotton may cast a shadow on India’s advantage in premium/ high-end garment exports to the world, according to cotton stakeholders.
This, according to the trade sources, is primarily due to the additional cost for imported cotton mainly the extra-long-staple (ELS) used in making high-value-added textiles and garments, which are exported globally under premium labels. ELS quality of Giza Cotton is imported from Egypt, while Pima Cotton is sourced from the US. The cotton stakeholders also expressed concerns about losing international market, especially US and Europe, to neighbouring competitors Bangladesh and Pakistan as well as Vietnam.
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Amazon is now actively seeking a way to obliterate challenges associated with online shopping, particularly in the fashion industry.
Shares of American e-commerce giant Amazon.com Inc (NASDAQ: AMZN) were up 0.55% in Wednesday’s pre-market to trade around $3,182.50. AMZN shares closed yesterday trading at $3,165, having jumped 0.26% during the day. The tweak on Wednesday is attributed to news that the company is today launching a new service for its customers to create custom clothing dubbed ‘Made for You’.
Amazon is seeking a way to obliterate challenges associated with online shopping, particularly in the fashion industry. As a result, not only will the company widen its customer audience but also revolutionize the fashion industry at large.
Amazon Fashion launches a custom clothing service, Made for You
Amazon today is launching a way for customers to create custom clothing with a new service called Made for You, which lets shoppers create a custom T-shirt to their exact measurements. But unlike some companies that use mobile technology to scan and measure your body from an app, Amazon Fashion’s Made for You service requires users to provide the company with their height, weight, body style and two photos of themselves to get measured for their custom fit.
After users provide their data, they can then choose from a selection of eight colorways, as well as preferred sleeve and shirt lengths, necklines and fabrics.
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