Textiles fan inflation fears amid London Fashion Week, Entertainment News | wionews.com

Textiles fan inflation fears amid London Fashion Week, Entertainment News | wionews.com

Textile prices, like many raw materials, are soaring on resurgent post-pandemic demand and the rocketing cost of both energy and transport, industry experts say. Cotton, linen, silk and wool, as well as synthetic materials derived from petroleum, faced surging prices in recent months, boosted also by the global supply-chain crunch. As a result, red-hot inflation is now a major talking point at the industry’s London Fashion Week showpiece, which runs until Thursday. Price hikes represent a new challenge for the industry that has already been stricken by both Brexit and the Covid-19 health emergency. K pop band BTS and its members’ whopping net worth will make your jaws drop – ‘Impressive cotton surge’ – “The textile and clothing industry noticed an impressive surge in cotton prices,” said the European association of textile producers, Euratex, in a statement sent to AFP. “The restart of activity worldwide in 2021 and the increased demand from the textile industry have accelerated the mechanism of (market) tension on raw materials,” it added. “This has resulted in a shortage, and rising material costs.” Cotton, which had already surged almost 50 percent last year, peaked earlier this month at $1.29 per pound — reaching a level last seen in 2011. Organic cotton from key producer India has experienced buoyant demand due to low stockpiles. The cost of wool and flax linen meanwhile rebounded between September 2020 and June 2021, having declined for almost three years. Street styles, neon kick off London Fashion Week – Impact of ‘oil upswing’ – The industry has also been spooked by the sky-high cost of oil. “The increase in oil prices have affected the prices of synthetic fibres … as these are produced from petroleum-based chemicals or petrochemicals,” Euratex noted. Oil had threatened to top $100 a barrel last week on simmering tensions between Ukraine and key crude producer Russia. “The ongoing upswing in oil prices is lending buoyancy because it increases the price of synthetic fibres that compete with cotton,” added Commerzbank analyst Carsten Fritsch. The price of man-made or synthetic fibres — like acrylics, nylon and polyester — have shot up. Textiles also face the same snarled-up supply chains that have plagued economies worldwide. Retailers and manufacturers will therefore struggle to meet rebounding demand, particularly for cotton, commentators say. – Logistical headache – “Demand is strong amid inflation concerns and logistical issues that make it harder for world buyers to source any cotton anywhere,” Price Group analyst Jack Scoville told AFP. Importers and exporters face a huge spike in transport costs, as reopening economies create feverish demand for container shipping. Rogie Sussman Faber, owner of Chicago area company Vogue Fabrics, told AFP that transportation was their biggest issue. “Here in the USA, we are more affected by the sharp rise in shipping than the price of the materials,” Faber said. Onward transport from the port of Chicago compounds that heavy burden, mirroring transit problems seen elsewhere. “Since the onset of Covid, we have experienced a decline in truckers, and the transit companies have raised their prices to cover fuel costs and overtime (and) bonus incentives,” noted Faber.
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Travel, dining and entertainment cash splash as Victorian voucher scheme extended – 7NEWS

Victorians are set to enjoy cashback on dining, travel and entertainment as part of a huge new vouc…
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Christine Lampard in line to be modern-day Jeremy Beadle after Harry Hill turns down …

C omic Harry Hill has revealed that he turned down the telly role for ITV after making a pilot. But he claimed that Christine — nee Bleakley before marrying new Everton boss Frank Lampard — is in the frame. Harry (57) said: “At the height of TV Burp, someone had the bright idea that I ought to front a prank show. “Let’s be clear, the only prank show I ever liked was Candid Camera — and that was when I was about five. After that, I always felt that they were rather mean-spirited. “But they reckoned there was a gap in the market and that I was the one who was going to bring the prank show, kicking and screaming, into the 21st century. “Weirdly, ITV liked the pilot, but I said I wanted nothing more to do with it. The last I heard, they were trying to get it off the ground with Christine Bleakley hosting it.” Receive today’s headlines directly to your inbox every morning and evening, with our free daily newsletter. Harry said he turned his nose up at the show because the pilot was a disaster with stunts that went pear-shaped. He explained: “Quite why I went along with it, I have no idea, but sure enough, the production company hired a couple of producers who knew how to make one, and work started on What Are The Chances Of That Happening. “One of the pranks involved me hiding in the boot of an office worker’s car and waiting for him to open it — at which point, I was to sit up and say, ‘What are the chances of that happening?’, climb out of the boot and walk off. “I was lying there for, I don’t know, 40 minutes? No sign of the driver. The producer opened the boot to let some air in and then closed it again, locking me back in for another wait. Another 20 minutes went by. Still no sign of the driver. “So, I’d been in the boot of this man’s car for an hour now — the time it took to record virtually a whole episode of TV Burp and we’d recorded precisely nothing of any use. “In the end, someone was sent off to find the bloke whose car I was lying in to tell him to get down to the car park and open the boot of his car. So the bloke came down, but, of course, he suspected something was up. “He opened the boot and looked in — and I looked back at him, and he rolled his eyes and tutted and looked generally p***ed off. “‘What are the chances of that happening?’ I said wanly. ‘Oh, for f***’s sake…’ he sighed. Then I got out of the boot of his car and wandered off. In his new book Fight! Harry offered Newtownards-born Christine (43) some friendly advice and joked: “If you’re reading this, Christine, don’t get into that boot.” The Belfast Telegraph is a member of IPSO and subscribes to its Editors’ Code of Practice Ipso
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