Fashion Industry Gets Torn by Europe’s Soaring Energy Bills

  • 📰 WSJ
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

“You set a price, and then the cost of gas doubles.” High energy prices are battering Europe's fashion supply chain, from spinners and weavers to fabric dyers.

across Europe is now spreading to the continent’s fashion industry.

Thousands of small factories and workshops that supply brands such as Gucci and H&M have watched their business models unravel amid the surge in natural-gas and electricity prices following Russia’s invasion of Ukraine and its decision to to the continent. Energy costs for many textile makers have risen from about 5% of production costs to around 25%, slashing their profit margins, according to data from European textiles and apparel trade group Euratex.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

The EU should have never screwed with Russia. Senile Biden has single-handedly destroyed the world economy.

This applies to most manufacturing businesses, as one of the main costs for production equipment is electricity.

Fashion designs and clothing are only for the good times. Such things must be sacrificed for the bad times. You should probably concentrate on how you're going to handle the unemployment from unnecessary jobs.

Dear god no! Not the fashion factories!

I just don’t know what we’re going to do without Europe’s fashion industry.

Bittersweet

Welcome to the GreenNewScam. Feelin’ Woke yet?

Zero sympathy for Italy here. The fools turned off all their nuclear reactors by 1990. Worse yet, in 2011 Italy —Fermi's birthplace!— had a chance to cease being being sciocci and to go nuclear again, and the italiani voted against. Let them starve, as an exemplar to others.

Biden talked about a long winter of COVID death last year, well I think this is the year of freezing deaths. All caused by government intervention in the natural economy.

Fabric costs will be the least of our concerns this winter.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 98. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Mercedes CEO says Europe's gas crisis will accelerate its shift to renewables | CNN BusinessEurope's gas crisis will be 'a catalyst' for Mercedes-Benz to push deeper into clean energy, says its CEO. Well, they didn’t have another option tbh This is all by design by the Green Mob to deprive us of our fossil fuels, making them prohibitively expensive. Now we all have to buy a prohibitively expensive EV and recharge it with prohibitively expensive electricity if there isn't a blackout, rationed & the grid can handle it Public lands and bodies of water need solar panels and/or wind turbines installed yesterday. A global project benefiting countries that support renewable energy while ridding themselves of tyrants and their greedy policies to fix pricing to line their pockets.
Source: cnni - 🏆 326. / 59 Read more »