Textile buyers worldwide are bringing sourcing closer to home.
As labor, energy and raw material costs rise, global textile buyers are leaving China and corresponding more with Western suppliers, Reuters reported.
Although China remains one of the world’s top textile leaders, its expensive wool and cotton prices, along with costly import taxes for production machinery, are leading international buyers take their business relationships elsewhere.
Europe recently has become a top global buyer destination, due to the fast fashion model gaining momentum among apparel companies. With cheaper operational costs and closer proximity, European countries, including Italy, have the potential to become top sourcing hubs in upcoming years.
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