House of Fraser bought by Sports Direct for GBP 90 million (updated August 29, 2018)

Mike Ashley’s Sports Direct has agreed to buy the House of Fraser department store chain for GBP 90 million. The deal was announced just hours after the 169-year-old chain went into administration when talks with its creditors failed to reach an agreement. Mr Ashley said his plan was to turn the 59-store chain in to … More House of Fraser bought by Sports Direct for GBP 90 million (updated August 29, 2018)

Turkey exports 9 % of world’s denim fabrics

One of the world’s major denim fabric production hubs, Turkey’s exports of denim fabrics makes up 9 per cent from the country’s exports of textile products. Its share among the world exports of denim fabrics is, however, around 9 % reveals Turkish Statistical Institute (TUIK) figures. Turkey exported around USD 378.3 million worth of denim … More Turkey exports 9 % of world’s denim fabrics

Sri Lanka strengthening its presence in global luxury fashion

Sri Lanka has created a niche in luxury fashion and increasingly top global fashion houses are expanding their bases in the country. Jude Gayantha Perera, Chief Curator, Stylist.lk, points out Sri Lanka’s market for international luxury fashion brands is on the cusp of a renaissance. And it has moved its way up evading all the … More Sri Lanka strengthening its presence in global luxury fashion

WTOI suggests trade momentum softening further in third quarter of 2018

Trade expansion will likely slow further in the third quarter of 2018 according to the WTO’s latest World Trade Outlook Indicator (WTOI) released on August 9. The most recent WTOI reading of 100.3 is below the previous value of 101.8 and just above the baseline value of 100 for the index, signalling an easing of … More WTOI suggests trade momentum softening further in third quarter of 2018