• “Across the entire industry, shops are closed, brands and retailers actually right now have an oversupply situation with whatever orders they have placed. They fear that they may not be able to sell it, so they are actually canceling orders or delaying shipments of orders,” said Stanley Szeto, executive chairman of Lever Style, a Hong Kong-based garment-maker.
• Asia is key for garment manufacturing and many jobs in the region will be at risk, potentially causing social problems in countries like Bangladesh, Cambodia and China that are dependent on the export economy, he said.
• Officials from Bangladesh highlighted the vulnerability of the country’s 4.1 million garment workers amid a raft of order cancellations and delays.

Read the full article here (cnbc.com – 30th March 2020)

Image Source: Image by Ranjat M from Pixabay