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China : Clothing prices rise by 4.1% in Nanjing |
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2006-6-7
China : Clothing prices rise by 4.1% in Nanjing
Price of clothing increased 4.1 percent in Nanjing city last month as raw materials witnessed a surge, following hike in oil price in international markets.
Moreover, ‘GB 1840 Safety Standards’ issued by local government has also forced clothing manufacturers to hike their prices.
Problem is further compounded with fake clothing brands easily available that hit markets no sooner once the original and famous brands make entry .
With shrinking profit, manufacturers are left with no other option but to peg up prices for their freshly launched styles in markets.
Another trend seen lately is that of clothing enterprises raining promotionals through media (radio, TV and print), and all this naturally leading to escalation in the prices of their end products left to be borne by customers.
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