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Blog: The week that was...
Leonie Barrie | 15 September 2008
Intimate apparel maker Triumph International hit the headlines this week after a group of workers went on strike over the sacking of the chairperson of its union in Thailand for wearing a T-shirt that insulted the Thai monarchy. 2,000 of the 6,000 employees at its Thai production facility, Body Fashion Thailand (BFT), walked out in protest at the dismissal last month.
Triumph says Jitra Kotshadej was fired on a decision by the Thai Labour Court for causing “significant damage” to the company. But labour rights group the Clean Clothes Campaign says the act denied Ms Kotshadej "the basic human right of freedom of expression."
Triumph, however, stresses BFT has acted in full compliance with Thai labour law and is confident that the issue will be resolved “very soon."
Supply chain management giant Li & Fung is to sell a 4.85% stake in its business to Singapore-based investment firm Temasek for HKD$3.9bn (US$499m), in a move that will give it new funds for acquisitions. Li & Fung is targeting sales of $20bn by 2010, and earlier this year bought New York handbag brand Van Zeeland for $330m.
British-based outdoor apparel brand Berghaus plans to open 200 stores across China after signing a license agreement with Hong-Kong-based Symphony Resources. From autumn 2009, Symphony will open dedicated Berghaus stores, as well as sell through specialised retail across China. Berghaus sees Asia as a key territory as it positions itself as one of the world's top five outdoor brands.
UK footwear chain Faith has been sold to retail entrepreneur John Kinnaird and investors Agilo after briefly going into administration. Faith will now be combined with men's clothing firm Envy (owned by Kinnaird) and teenage fashion business Chilli Pepper (which is owned by Agilo). The new business will have around 140 stores across the UK, as well as over 200 concessions in the UK and Continental Europe. The sale, for an undisclosed sum, will safeguard the jobs of over 2,000 employees.
The latest figures from the British Retail Consortium show that UK retail sales fell 1% on a like-for-like basis in August, the fifth month out of the last six to register a decline and the worst sequence of figures for three years. Wet and dull weather dampened clothing sales, although footwear sales were boosted by demand for children's shoes.
The figures were confirmed by clothing retailer Next which reported a 12.4% decline in first-half pre-tax profits and warned that trading would remain difficult for at least the next 18 months. But, benefiting from the squeeze on consumer spending, discount fashion chain Primark said it expects to report a 2% increase in same-store sales for the second half of the year.
Fresh from their disappointment at seeing the Trans-Pacific Partnership (TPP) free trade deal abandoned last month with an executive order by President Donald Trump, the US apparel and footwear sector...
With the ultimate aim of ensuring all the cotton in its products is sourced sustainably, value clothing retailer Primark is adamant that having a business model focused on offering the lowest prices o...
Last week we marked the inauguration of Donald Trump as the 45th president of the United States by taking a closer look at what's at stake for the textile and apparel trade – especially his promises t...
Continuing our look at what lies ahead for the apparel industry and its supply chain in 2017, the panel of industry experts consulted by just-style last week tackled likely shifts in the sourcing land...
- "Power of the many" drives change at Otto Group
- Hard hit Turkish industry is not knocked out
- China leads US apparel sources with falling prices
- Vietnam grows share of US apparel imports in 2016
- US apparel sector braces for potential cost hikes
- US Q4 in brief – Foot Locker, Nordstrom, Carter's
- Inditex and H&M boycott Dhaka Apparel Summit
- JC Penney to close 140 stores amid lower sales
- Bangladesh crackdown has cost garment sector $100m
- Macy's will "do the right thing", says Lundgren
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022


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Earlier this month, we came across a report stating that LG will rebrand its flagship G-series to bring a change in strategy, and compete with rivals Samsung and Apple. It was expected that LG might announce more details at CES 2018 trade show in Las Vegas this week, but that did not happen. Now, a new trademark filing sheds light on what LG s likely plans. Also Read - iPhone selling in LG stores? Apple is apparently in talks for a new dealAlso Read - Samsung and LG confirm presence at in-person CES 2022
According to the database of USPTO (the United States Patent and Trademark Office), LG has filed trademarks for smartphone names LG Icon, LG Aicon and LG Aiconn. Besides Icon, LG has also filed a trademark for Iconic for a smartwatch. LG Icon and Iconic sounds like interesting names for the next-gen smartphones and smartwatches. And while companies often trademark product names, it is not necessary that they use them. Also Read - This Qualcomm chip bug affects around 30 percent of phones globally: Report
However, LG may not drop G-Series naming this year as reports are still suggesting that the company s next flagship smartphone will be called G7. It is expected to launch with Qualcomm Snapdragon 835 SoC, OLED-display and 6GB of RAM. The G7 is also expected to come with advanced facial recognition feature backed by an iris scanner. The smartphone could be announced at MWC 2018 next month, in Barcelona.
In an interesting development, LG has announced that it will be moving away from regular smartphone launch cycle, a strategy they had been following for all these years. In a press conference at CES 2018, LG s Vice Chairman Cho Sung-jin said, “We will unveil new smartphones when it is needed. But we will not launch it just because other rivals do.”
When asked about the G7, he added saying that the company plans to retain existing models by unveiling more variants. And talking about the change in strategy change, he said “We found it is important to retain a good platform for a long (time) and concerns rise over the supply of lithium materials,” KoreaHerald reports.

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WILMINGTON, N.C. (WECT) - It’s a first for Anna Pastalos, owner of Jimbo’s restaurant on College Road in Wilmington. For the first time in 43 years, the popular breakfast house is not able to welcome customers inside the restaurant.
“It was difficult coming in this morning and no customers here,” Pastalos admitted.
Governor Roy Cooper issued an executive order Tuesday that closed all in-dining restaurants and bars. Takeout, delivery and drive-thru restaurants are still permitted as the state tries to control coronavirus exposure.
Pastalos says that going from 400-500 customers a day during the week and 700-800 customers on the weekends to only 25 takeouts Wednesday has her worried, especially for her employees, some who have been there for 25 years.
“We try our hardest to keep the jobs for those employees because we’re just like a big family,” she said. “They have kids, they have mortgages, they have car payments and I just worry how they’re going to make it.”
Pastalos says they will continue providing takeout orders for breakfast and lunch and hope that their customers will come in. They are also offering to make deliveries to their regular elderly customers.
“We take it a day at a time and if the demand is for longer hours, we’re willing to do it,” she says. "We’ll do whatever it takes.”


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TikTok sets to overtake IT giants
TikTok has become a threat to Google and Meta’s advertising revenues. TikTok, the Chinese social network owned by ByteDance, may earn $12 billion from ads in 2022. Notably, the company generated returns of $4 billion in 2021. At the same time, this threatens Facebook and YouTube's dominance in the social networking and video hosting markets. The advertising revenue of the Beijing-based platform is expected to surpass the combined ad revenues of Twitter and Snapchat. Meanwhile, YouTube’s earnings from ads are estimated at $17 billion. TikTok is expected to grow its ad revenue on par with YouTube in 2024. In addition, TikTok continues to top the social network rankings by the number of hours users spend on Internet services each month. Users from the US spend an average of 8 hours each month on Instagram, 16 hours on Facebook, and nearly 30 hours on TikTok. Bloomberg reports that TikTok has become a definite threat to Google and Facebook. The news agency also noted that American IT giants are confronting difficulties because they have become a target for antitrust investigations in the US, the UK, and the EU.


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BMG garnered €49 million euros ($55.7 million) in earnings before interest, taxes, depreciation and amortization (EBITDA) on revenues of €269 million ($305.8 million) for the six-month period ended June 30, 2019, according to the company's earnings announcement.
That represents an operating EBITDA improvement from the €42 million ($47.7 million) the company produced in the corresponding year-earlier period when revenues were €241 million ($274 million). That represents a 16.7% improvement in EBITDA and 11.6% growth in revenue. Moreover, as a percentage of revenue, BMG operating EBITDA improved to 18.2% from 17.4%.
Bertelsmann said that the fastest component of BMG's growth was its recorded music operation, but also noted that its publishing business also showed strong revenue increases. Overall, the company said digital formats are driving growth in both businesses and now comprise 56% or revenue, or about €150 million ($190 million).
Looking at the recorded music segment, the company cited releases by Keith Richards, Kylie Minogue, Lil Dicky, Avril Lavigne, Dido, the Cranberries, AJR and Adel Tawil, as well as hit albums by Jack Savoretti (UK) and Kontra K (Denmark), as driving revenues. Further, the company said it signed new record contracts were signed with The Shires, Seeed, the Zac Brown Band, Sugar Ray and Richard Marx.
Also, within recorded music, Black Sabbath extended its deal with BMG; and the company launched the Trojan Jamaica label.
Moving over to publishing, the company said that Lewis Capaldi's "Someone You Love" has sold over 3 million copies globally was a standout, while noting that BMG songwriters were involved in 24 number one hits across the Billboard charts. It also said new publishing agreements were signed with Cage the Elephant, AnnenMayKantereit and Jason Duke, while it extended its global music publishing partnership with Latin music label, DEL Records.
Finally, BMG launched its 15th international office, in Hong Kong, to further strengthen its footprint in the Asian market, the company said.
Overall, BMG parent Bertelsmann posted €1.292 billion ($1.47 billion) in operating EBITDA on revenues of €8.612 billion ($9.8 billion), which represents a 20.5% improvement from the €1.071 billion ($1.22 billion) in operating EBITDA and 4.6% growth in revenue from the €8.237 billion ($9.36 billion) produced in the year earlier six month period.
"Bertelsmann had a very successful first half of 2019,” Bertelsmann chairman and CEO Thomas Rabe said in a statement. "In the past few months, we once again stepped up the pace of our growth; the expansion of our digital and growth businesses is increasingly paying off. Bertelsmann is now a faster-growing, more digital, more international, and [a] more diversified company. We will further increase our investments in local premium content and service offerings in the years ahead."


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Concern soars as video of Ugandan nanny goes viral!
Foscam has seen an increased amount of concern for the safety of toddlers and babies alike after the disturbing video of the Ugandan nanny was exposed on the internet.
Since it went viral, concerned parents have been ordering Fosbaby Baby Monitors, so that they can watch real-time video footage of what their nanny is doing at home while they are at work.
The video footage showed the nanny as repeatedly abusing the little girl, beating her with an instrument and then standing on her.
As this footage has come to light, parents are asking themselves what is happening with their most treasured beings. Are they receiving the love and care that they should be?
Foscam introduced Fosbaby to the market a few short months ago and the product is fast becoming a ‘must have’ item for working parents.
Fosbaby is a baby monitor that by means of your home wifi, sends live video footage directly to your smartphone or web browser.
Fosbaby also has a 32 gig memory card slot so that video can be recorded directly to the device on motion detection.
Singing sweet lullabies and sending room temperature alerts as well as zone motion detection are to name but a few of the many features of Foscams new baby camera.
Fosbaby is available for purchase online at www.foscam.co.za and can be shipped countrywide.
Purchase yours for R1595 today!
Foscam South Africa.
Tel: 011 469 5165.


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Shelf-stable seafood snacks aimed at upping domestic consumption in India
India’s Marine Products Export Development Authority has called on the country’s shrimp and fish producers to add value to its marine foods in an effort to increase domestic seafood consumption.
MPEDA is also looking to create a stronger national seafood brand, according to the organization’s domestic marketing director T. Dola Shankar. Shankar said MPEDA is now offering financial incentives to companies that use its brand.
"The authority is offering INR 2.5 million (USD 40,000, EUR 33,000) subsidy for any producer or exporters that use our brand,” Shankar told SeafoodSource.
Shankar said MPEDA said it is hoping to put its brand on more Indian seafood products – not just shrimp and fish, but also crab, shellfish, lobster, and other aquatic species. Shankar said that the subsidy would only be offered for one year, and that the goal of the subsidies is to encourage both domestic industry and consumer identity with national brands. He added the MPEDA label available to seafood producers and exporters at no cost.
“Our aim is to push young farmers into aquaculture and explain the people on protein values and vitamins available in fish, shrimp and other seafood products, which are good for health,” Shankar said.
MPEDA is planning to spawn the creation of a wider range of “instant,” shelf-stable seafood snacks sold under “an attractive brand name,” Shankar said. He said MPEDA is looking for nationwide distribution, with products in food stalls, bakeries, hotels, eateries, and pan shops across India.
MPEDA is also looking to grow exports of Indian seafood, Shankar told SeafoodSource. The group is “drawing up strategies to enhance the area of cultivation along the sea coast and capture the full market potential of India’s marine resources,” Shankar said.
In 2016-17, India exported approximately USD 5.7 billion (EUR 4.91 billion) worth of marine products. The country has announced plans to increase its exports to USD 15.35 billion (EUR 13.25 billion) by 2022, though the plan faces difficulty in light of discussions in the EU to ban Indian seafood imports.
"We are [currently] exporting marine products to the U.S., the European Union (EU), Southeast Asian countries and we are making plans to increase marketing in the Middle East,” Shankar said.


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Using a mobile phone could create depression in teens
According to a medical study presented by the Toronto Psychiatric Association, in the United States, Canada, extreme use of the mobile phone can create states of anxiety and / or depression in adolescents from 8 to 18 years of age.
Two out of five kids between the ages of 8 and 18 have a mobile phone (that doesn't seem like much to me ...), and statistics say that children between the ages of 7 and 12 spend around an hour a day using their mobile. The test has been carried out on 575 adolescents who use the mobile phone more than 90 times in a single day, and it has been concluded that they live sad and bored. Thanks to the mobile they can interact with other people and maintain social life, especially through SMS text messages, but outside the world of messages they do not feel comfortable.
All this in the United States. And in the rest of the world, what do you think happens? What I am noticing is that now, children are getting smaller when they buy a mobile terminal.


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The giant search engine Google has finally unconfined the source code for its latest Android 4.0 Ice Cream Sandwich. Now the mobile manufacturers are allowed to customize the operating system for their mobile handsets. One of the specialties of the Operating System is that it can be corporate in both the tablets and smartphones.
Google has most recently announced an improvement of its Street View project that is among one of the most controversial projects in recent time. With the latest improvement the Street View project will allow companies or businesses to make their presence online by offering images of their store fronts in high resolution to reach more Read more
New comer Unthink thinks that they can overthrow the social networking giant Facebook’s out of the social media realm.
The new social network comes from the creative mind of the mother’s concern over the online activities of his son. Unlike Facebook, Unthink preaches empowerment. Whenever first visited the site, they encouraged people in taking control of their online destinies.
According to the latest gossip new in the tech world many of the Google Executives prevent their children from using Google Products even using computer. According to the information many of them admit their children to the Waldorf schools in Los Altos. One of the specialties of that particular school is that they do not Read more
It can be said that we are running in the age of apps. Apps have opened new doors and ways in the history of mobile using. Every person in today’s world – be a businessman or a teenage casual mobile user is in constant search of helpful and appropriate apps for his or her.


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According to Parks Associates’ Home Security NUMBERS research, more than 26 million U.S. broadband households will have professionally monitored security by 2021. The research also shows that total annual revenue for professionally monitored security in U.S. households will exceed $14 billion by 2020.
“The residential security industry is changing along many dimensions,” Tom Kerber, director of IoT Strategy, said. “The addition of interactive services and home control products has expanded the market and changed the value chain and competitive landscape. Cable and telecom operators have entered the market with security services. New approaches to selling professional monitoring including self-installed solutions and on-demand monitoring services, and service providers are working to expand the market by connecting smart products to monitoring services.”
Security is the strongest driver for smart home adoption. Among U.S. smart home device owners, 37% made this purchase to keep their home safe, while 29% wanted to monitor their home while away. One-fifth of U.S. broadband households plan to purchase a smart all-in-one security product in the next 12 months, and another 20% plan to purchase a networked camera, notes Parks Associates.


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The onion and potato prices have increased from the past one and half months on the back of good demand. The onion prices of both red and white varieties have witnessed a rise of Rs 50 per 40 kg bag in the Kalamna wholesale market. “The onion prices have advanced by Rs 50 per 40 kg bag and potato prices have risen by Rs 150 per 40 kg bag on good demand by consumers,” said Jaiprakash Vasani, wholesale trader at the Kalamna wholesale market while speaking to The Hitavada.
The supply of onions from Gujarat has been exhausted a few months ago and the new crop is coming from places in Vidarbha like Amravati and Buldhana districts.
In the wholesale market, onion red variety is being quoted at Rs 400 per 40 kg bag to Rs 450 per 40 kg bag as compared to one and half month ago at Rs 350 per 40 kg bag to Rs 450 per 40 kg bag.
Similarly, the white onion prices are being quoted at Rs 350 per 40 kg bag to Rs 400 per 40 kg bag as compared to prices one and half months ago at Rs 300 per 40 kg bag to Rs 350 per 40 kg bag, he said.
On a daily average about 25 to 30 trucks are arriving at the wholesale market. The red onions are coming from places in Amravati district while white onions are coming from Buldana district, Vasani pointed out.
In the wholesale market, the potato prices are being quoted at Rs 600 per 40 kg bag to Rs 650 per 40 kg bag, as compared to prices one and half months ago at Rs 450 per 40 kg bag to Rs 500 per 40 kg bag. The prices are based according to the size and quality of commodity. On a daily average 15 to 20 trucks are coming from Agra, Kanpur and small quantities from Indore to the wholesale market, he said.
Currently, farmers and traders are stocking both the commodities in their warehouses. The stocks are stored and sold in small quantities for about six months till Diwali and Dashera, he added.


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“Apple on Tuesday introduced its next-generation 13-inch MacBooks and 15-inch MacBook Pros but was unable to ramp production of its new 17-inch model, which is now expected to make an appearance by early next year,” AppleInsider reports.
There has been “some form of delay affecting the new 17-inch models, which would have ideally made their debut this week had matters played out differently. Those people reported sightings of the larger model undergoing tests in Apple’s labs, and as would be expected, they resemble a slightly larger version of the new 15-inch MacBook Pro,” AppleInsider reports.
“As avid readers may recall, this isn’t the first time that a 17-inch MacBook Pro missed the first boat out of China,” AppleInsider reports. “The situation was nearly identical back in 2006 when Apple introduced its first ever MacBook Pro at the Macworld Expo in January… About three months after the 15-inch MacBook Pro made its debut, Apple introduced the first 17-inch MacBook Pro.”
Full article here.
MacDailyNews Take: To those of you who are stuck waiting for the 17-inch MacBook Pro, we commiserate; we’re waiting for that one, too.


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Infosys chief Nandan Nilekani has termed demonetisation as a defining step in India’s journey to a less cash economy. He has said that India knew the problem (of being a cash-dependent society), but lacked political will. He adds that demonetisation and the urgency to find alternatives to cash gave a sharp focus to cashless payments. Nilekani also explained how demonetisation resulted in an incredible push and tasks for the same were done with unprecedented urgency – Nilekani laid out his views in a column for Hindustan Times. Nilekani says that though November 8 is our memories as the day we switched to cashless, it can only be termed as just a starting point. He underlines that digitisation is a long process and still have a way to go.
Meanwhile, in another summit, Nilekani expressed that data will emerge as the next frontier for trade negotiations between countries as there will be many issues to be resolved. Addressing a summit, ‘Unlocking US-India trade potential’, on Tuesday, Nilekani said that discussion on cross-border trade on data will centre around issues like security, privacy and monetisation. He added that advent of smartphones has created huge volumes of data and the growth in sensors or the Internet of Things is only expected to multiply the creation of data.
November 8 marks the anniversary of demonetisation. Exactly a year ago, PM Modi had announced demonetisation of Rs 1,000 and Rs 500 notes as a measure to fight black money, corruption, fake currency and terror funding. The opposition, led by Congress, is observing ‘black day’ today, while the BJP and NDA allies are celebrating ‘anti-black money day’.


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The Chinese company Huawei, the world’s second-biggest smartphone maker, has been restricted by Google, from its use to the Android operating system and some updates apps, after the Trump administration blacklisted the Chinese tech firm.
Last week, President Donald Trump signed an executive order barring US companies from using telecom equipment from sources the administration deems a national security threat, in an action seen as targeting China, specifically, Huawei, a leader in 5G technology and a global tech business with a reported revenue of over $100 bln.
Top U.S. tech companies, including Google, begin to cut off vital Huawei supplies. The move is a huge blow to Huawei.
“We are complying with the order and reviewing the implications,” a Google spokesperson said on Monday. Huawei, the world’s No. 2 smartphone seller, relies on a suite of Google services for its devices, including the Android system and the Google Play app store.
A spokesman for China’s ministry of foreign affairs, Lu Kang, said Beijing would “support Chinese enterprises in defending their legitimate rights through legal methods.”
Huawei said it would continue to provide security updates and after-sales services to all existing Huawei and Honor smartphone and tablet products, covering those that have been sold or are still in stock globally.
“We will continue to build a safe and sustainable software ecosystem, in order to provide the best experience for all users globally,” it added.
Existing Huawei smartphone users will be able to update apps and push through security fixes, as well as update Google Play services. But when Google launches the next version of Android later this year, it may not be available on Huawei devices. Future Huawei devices may no longer have apps such as YouTube and Maps.
UK mobile trade body Mobile UK said it was “working closely with relevant authorities to understand the implications of the US Department of Commerce’s placement of Huawei on its Entity List.”
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COVID-19 Rent Assistance and CEBA
The Government of Canada recently announced enhancements to the support measures for business:
Canada Emergency Commercial Rent Assistance Program:
The federal government has announced relief measures that many small businesses were hoping for – rent relief. As with other relief measures announced, we did not hear a timeline on when small businesses would see a benefit from these measures. We would hope that the two weeks before rent for May is due would be sufficient time, but have seen other relief measures take longer to be implemented. The new Canada Emergency Commercial Rent Assistance program is targeted to help small businesses cover their rents for April, May, and June. The plan will provide loans to commercial property owners who would then lower or forgo rent for small businesses for these months. Additional details are still to come.
Canada Emergency Business Account (CEBA): https://ceba-cuec.ca/
Also announced yesterday was the expansion of the Canada Emergency Business Account (CEBA). This program provides interest-free loans of up to $40,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced. The announcement eased the qualifications for this loan. Businesses will now need to demonstrate they paid between $20,000 (previously $50,000) and $1.5M (previously $1M) in total payroll in 2019. Businesses can apply for CEBA through their banks and credit unions.
As the government introduces new relief measures and modifies previously introduced measures, they update their COVID-19 Economic Response Plan website. This site is a great resource for all who have questions: https://www.canada.ca/en/department-finance/economic-response-plan.html
All the best to you and stay safe!
Colin, Tyler, Humberto, and Sharon


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Analysis: Epic’s narrow App Store victory boosts fight against Google Play rules
OAKLAND, Calif., Sept. 10 (Reuters) – Android app makers suing to stop Alphabet Inc’s (GOOGL.O) Google from siphoning off up to 30% of their sales were scared of their chances on Friday as a judge authorized a comparable fee charged by Apple Inc (AAPL.O) for standing.
Last year, developers, including “Fortnite” maker Epic Games, targeted the two largest mobile app stores, run by Apple and Google. Critics see the fees as unnecessarily high, collectively costing developers billions of dollars a year, and a function of the two big tech companies with monopoly power.
Google’s lawsuit is at least a year away, a time the two sides could use to refine their arguments based on Apple’s decision, legal experts have said.
In a ruling on Friday following a lawsuit between Epic Games and Apple, U.S. District Judge Yvonne Gonzalez Rogers asked Apple to let developers tell customers about ways to pay outside of its App Store, resulting in a Apple shares fall 3.3%. Alphabet fell 1.9%. Read more
Google’s Play Store is using rules similar to those overturned in the Apple case, limiting developers’ communications with their customers, and DA Davidson analyst Tom Forte said Google could also be at risk. He also noted the residual risk of further regulatory action from lawmakers.
But Gonzalez Rogers made it possible to support demands that developers deplore even more. These rules, including the fact that in-app payments are made on Apple’s own system, allow the company to collect its fees from 15 to 30 percent.
Apple’s general counsel, Katherine Adams, told reporters her company was “extremely happy.” Epic chief executive Tim Sweeney wrote on Twitter that “today’s decision is not a victory for developers or for consumers.”
Rebecca Haw Allensworth, a professor at Vanderbilt Law School, said she agreed Gonzalez Rogers’ findings were disheartening for the case against Google, while Valarie Williams, antitrust partner at law firm Alston & Bird, said that Google “will likely be encouraged by the decision.”
The judge said Apple’s restrictions allow users to be assured that the apps they mostly buy are virus and porn free and that what they paid for will be delivered.
“Application distribution restrictions increase security at large by allowing Apple to filter out fraud, objectionable content and hacking when reviewing applications while imposing increased privacy requirements,” Gonzalez wrote. Rogers.
Apple’s charges result in “extraordinary profits,” according to its ruling. But if it forced Apple to ease restrictions, the company could struggle to secure compensation for providing a platform for developers, she said. Apple’s selling point to consumers about stronger security and a centralized system would also be compromised, the judge added.
Its 30% rate, she said, was set “almost by accident when the App Store first launched” rather than because of market power.
Google has made similar arguments about the privacy and security benefits to justify its rules and fees, and it has long followed Apple’s lead when it comes to commission levels, Google documents revealed. in legal proceedings.
With Google’s smaller share of the US mobile app market, plaintiffs may have to rephrase their arguments to succeed against Google. Gonzalez Rogers said that Epic’s challenge of any commission was an unreasonable stance compared to Apple, and that Epic failed to clearly prove that the iPhone maker was a monopoly.
Modified arguments may not be sufficient. The case against Google has been more difficult from the start. Google allows apps to be installed from other sources, thus eliminating the monopoly argument. It has also historically been more lenient in the application of some of its policies.
Google, Epic and lawyers for other developers suing the Play Store operator declined to comment. The Utah attorney general, who is helping to lead a related lawsuit by US states, said he is reviewing the judgment. Read more
Reporting by Paresh Dave; Additional reporting by Akanksha Rana in Bangalore and Stephen Nellis; Editing by Peter Henderson and Daniel Wallis
Our Standards: The Thomson Reuters Trust Principles.


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Why Some Think Cannabis Will Thrive Even As GDPs Plunge
Businesses have ground to a halt in deference to stay-at-home orders, and even some essential operations have lost their workforce to fear of the coronavirus. With operations at a standstill, revenue-less companies are beginning to furlough employees.
Unemployment is rising in the U.S. and Canada. Consumer confidence is also dwindling, and between these two factors, economists expect an economic downturn on the horizon. Some forecasts cite 25% unemployment in Alberta, where 52% of Canada’s cannabis retailers reside.
Times will be tight, but if anyone can survive a recession, some suspect cannabis can.
The global industry has notable momentum. It grew from $6.9 billion in 2016 to $15 billion in 2019. And regardless of how much total cannabis is sold, the legal market is expected to expand as consumers transfer over from illicit sources, according to Bank of America.
Additionally, data from the Canadian government suggests household cannabis expenditures are not correlated with Canada’s GDP to a statistically significant degree, and peer categories are historically recession-proof. During the 2008 and 2009 recession, the Canadian alcohol industry recorded 3% compound annual growth, while U.S. sales fell 1%.
“Down-trading among products and shifts from on premise (bars, restaurant consumption) to off premise (take home) was more pronounced in the U.S. than in Canada. Might cannabis in Canada be similarly resilient?” Bank of America analysts Christopher Carey and Lisa Lewandowski wrote in a note. “We see potential it is, a legal market with secular growth drivers like new stores, trade-in from illicit, product diversification, and ultimately higher prevalence.”
Tobacco sales also increased 85% between 2008 and 2009.
Anecdotal evidence also foretells strength in cannabis.
“Harborside did not see any noticeable effects from the last Great Recession and for a certain percentage of the population, weed is just as important as food and toilet paper,” Harborside co-founder Andrew DeAngelo said.
Provincial activity supports this claim. At the earliest threat of lockdown, Michigan cannabis consumers rushed to fill their stashes, raising the state’s weekly recreational sales more than 20% and medical sales 27%.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


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Also in today's show: Volkswagen prices the Passat, Cummins works on a four-banger and we take you inside all things Indy with exclusive video.
Hi everyone. This is Thursday, and here comes AutoWeek TV, where first means everything. I'm Julie. Buckle up for a hot lap through the car world.
First, how much does the new Volkswagen Passat cost? Now we know. Just in this morning, the sedan will start at $19,995, plus a $700 destination charge. Here's the big news—that's about $7,000 less than the starting price of the 2010 model.
The 2012 Passat is a very important car for VW. It's the first product built at the new Chattanooga factory in Tennessee, and it will come with three powertrains and a host of different options. If VW is going to actually hit its ambitious sales targets, this car will be critical.
Cummins is hard at work on a four-cylinder diesel engine for pickup trucks. The big deal here: it could get 28 mpg and still pack 350 lb-ft of torque. Cummins and Nissan are testing the engine in the Titan, reports say.
And, do you want a behind-the-scenes look at the Indy 500? Come to autoweek.com, where we have a special report, complete with video and an insider view of the track and its history, which dates to 1909. The full story is also in this week's issue of AutoWeek, where we've been all over the 500 for more than 50 years.
Now Ferrari is sold all around the world and has captivated enthusiast for decades. But today marks a new beginning for the Prancing Horse. Greg Migliore tells us why.
Ferrari officially opened a new showroom in India today, the 58th market for the famous Prancing Horse. It's in New Delhi, and the grand opening was hosted by Ferrari CEO Amedeo Felisa.
The two-level dealership is sure to be impressive, and the opening event featured the entire Ferrari lineup showcased on the first floor.
The Shreyans Group will be the official importer for Ferrari in India.
Ferrari joins the list of sports-car makers looking to capitalize on the now very important growth potential of India, including Aston Martin, which just opened a store in Mumbai.
Enthusiasm for speed and power is clearly expanding to all corners of the world. And of course, that means Ferrari.
That's it for today. Thanks for watching the show. I'm Julie. He's Greg. We're AutoWeek. See ya.


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2013 Ford Fusion
Let’s get it out of the way. There’s an undeniably Aston Martin aura about the all-new 2013 Ford Fusion. And rights (or rites) of design or not, we reckon it’s been a while since anyone’s spoken that highly about a mid-size Ford sedan. At least not here in the U.S. and perhaps going all the way back to the long gone, but much beloved, and potent 1st generation Ford Taurus SHO.
Besides getting all the coolest appliances, Europeans have also had access to the Ford Mondeo, a car that’s won a lion’s share of accolades and also managed to make itself a valid reason for picking a Ford over a BMW. No small feat. Over time the Mondeo has proven its chops as a well engineered car that drives and looks like the European sedan you’ve wanted and expected from Ford. But just like that Poggenpohl kitchen, you couldn’t just drive down to the dealership and buy one. That is, until now.
Continues after the jump.
Finally, after what has seemed like a decade’s worth of groaning by enthusiasts and pundits alike, Ford is bringing the Mondeo stateside by way of its global platform. That means, we get all of the important underpinnings that matter shrouded in an sexy, yeah we said sexy, new sheetmetal and interior. Just look at that grille. For giddy-up, Ford is offering, in a decidedly European manner, to give users the choice of a variety of powertrain options. How many? Whatever five different engines, two transmissions, and a front-wheel or all-wheel drive option add up to be. You can do the math. Engines will range from a four-cylinder 170 horsepower (170 lb-ft torque) to an EcoBoost 237 horsepower (250 lb-ft torque) mill, or two hybrid engines. One, which gets roughly the same gas mileage as a Prius, and the other, a plug-in hybrid called the Ford Fusion Energi, that’s miserly enough to sip fuel at an effective 100 miles per gallon. If you happen to have a financially allergic reaction to gas stations, this is the equivalent of vehicular Allegra.
With the 2013 Ford Fusion, there’s no shortage of choice, and there’s certainly no shortage in the looks, technology, or safety department either. You can expect to see lane guidance, blind-spot detection, active park assist, MyFord Touch, Microsoft SYNC, even Apps all packed into the Fusion along with airbags in every direction. In combination, Ford may just have created what amounts to be the best looking American made sedan we’ve seen since, well, the Taurus SHO. Even more exciting? This time, Americans get the Fusion first.
Editor’s Note: By the time you’re reading this, we’ll be hopping into a 2013 Ford Fusion at the Detroit Auto Show. More on that soon.
More photos after the jump.


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After 35 years of styling hair, Wendy Griffin, Guntersville’s 2017 Citizen of the Year, has embarked on a new adventure.
She closed her hair salon, Pearls and Curls, and has gone to work in her husband Bubba Griffin’s business, Lucky Buck Jewelry.
“I’m his first employee,” she said.
The Griffins have 3 children, Ian, Atlee and Brody. A story about Ian’s ambitions to become an actor ran in the paper last week.
Bubba started making jewelry in 2006. He’s been full-time with the business since 2009.
“Bubba is pretty artistic,” Wendy said.
They were at a friend's who had some beads and other jewelry parts on a table. Bubba picked some up, started playing around with it and came up with a piece of jewelry everyone liked.
“Lucky Buck Jewelry was born,” Wendy said.
Their son Brody, who is special needs and now lives in a group home, needed extra care at home. Going into the jewelry business offered Bubba the opportunity to work, but stay home with Brody and the other kids.
The jewelry is sold in multiple retail locations today, including several hospitals. The Griffins also attend lots of festivals and events where they sell jewelry.
One of Wendy’s duties will be managing the retail accounts.
Wendy is excited about this new chapter in her life, although she will miss her friendships with her longtime customers.
She plans to continue to be involved in 2 local causes she is passionate about.
She began the Wildcat Pantry, a room at Guntersville High School where students who need clothes, school supplies, hygiene supplies and other items can get them.
Wendy is also very involved, along with Amber Wilson, in the local Blessings in a Backpack organization. It’s the volunteer group that packs food every Thursday night during the school year to give to students who might not otherwise have food on the weekends.
Good things are happening with both programs this year, Griffin said. The Wildcat Pantry model has caught on with lots of other schools and there are now similar programs in other places.
One need of students no one really anticipated was bottled water. People who have access to it take it for granted. The Wildcat Pantry provided bottled water to kids who needed it last year. This year, they hope to provide reusable water bottles to students instead.
Blessings in a Backpack has only served elementary students in the past. This year, Wendy said, they plan to serve all 4 schools in the Schools of Guntersville.
It’s fitting, she said, since some of the first students served by the organization as elementary students are now in high school.
So while Wendy has a new career, friends in her charitable work will still see her often.


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A topic that has been repeatedly addressed over the past year is the increased adoption of mobile technologies, with the aim of increasing worker productivity and operational efficiency. There are many factors driving this trend, from the impacts of COVID-19 on modernizing the enterprise to improving employee retention rates, with the hope that mobile technologies will add to the efficiency of each individual worker. SOTI released its Global State of Mobility 2021 Report in September 2021, which recognized the importance of mobile technology to post-COVID operations, but also the challenges with implementing these solutions effectively. According to SOTI’s study, 79% of enterprise decision-makers believe mobile technologies are more important compared to before the start of COVID-19. However, with the increased adoption of mobile solutions comes the challenges of managing a larger mobile fleet and integrating these technologies into existing systems.
Management and security of devices are at the forefront of this change. Over half (56%) of the organizations surveyed say managing the increasing number of devices is proving to be difficult. VDC Research’s 2021 Buyer Behavior guide supports these findings across almost every vertical. While security was cited as a major concern across sectors, it is prioritized for different reasons: healthcare services seek security to protect patient information, while manufacturers and transportation & logistics organizations seek to protect key innovations and enterprise data. Exhibit 1 compares barriers of deploying mobile solutions into operations between healthcare, manufacturing and transportation & logistics enterprises.
Exhibit 1: Top Barriers to Deploying Mobile Solutions amongst Decision-Makers in Manufacturing, Transportation & Logistics, Healthcare, and Retail Organizations
Device management systems and analytics solutions are becoming essential tools to deal with a growing mobile fleet. In SOTI’s study, enterprise decision-makers emphasized the need for better data analytics/troubleshooting (69%) and better tools to preemptively diagnose potential issues (67%). According to VDC’s 2021 Enterprise Mobility Analytics report, although 58.8% of organizations are currently or planning to evaluate analytics packages for mobile solutions, only 24.4% have currently adopted and deployed such a solution. The capabilities of analytics solutions driving opportunities for these enterprises are device security and device performance and health.
Investing in system integration services/solutions may be the most effective way for enterprises to deal with modernizing their mobile technologies. SOTI’s study found that over the next 12 months, better device and system integration are priorities to enterprises. In addition, the ability to increase the capacity of mobile devices deployed, as well as reliability, security, and performance of those devices is driving the deployment of private cellular across industry verticals. In VDC’s upcoming report, Private 5G and 4G/LTE Networks, 61.5% of respondents said network monitoring and control was the most important feature of applications, while 34.6% indicated analytics. System integrators that offer managed services to integrate new technologies, such as device management/analytics tools, and private networks for enterprises have a unique opportunity to solve many of the persisting challenges for organizations as they look to digitalize and scale their mobile technology systems.
VDC’s upcoming report, Private 5G and 4G/LTE Networks, will provide networking technology providers and others in the ecosystem with the insight needed to navigate this market and maximize their opportunities in a time of dramatic and rapid change. VDC’s Enterprise Mobility Analytics (link) report explores the market trends and opportunities for mobile analytics solutions are device adoption increases in the enterprise. The 2021 Buyer Behavior Guide (link) shows VDC’s findings of key mobile technology trends amongst decision-makers across all industry verticals. For more information or interest in custom research services, please e-mail email@example.com.


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The coronavirus is upending businesses in South County – including restaurants and retail – leaving workers and owners wondering what the future holds for them.
Whether because of state order, concern about catching the virus or lost customer traffic, businesses are temporarily closing or curtailing services as owners take a wait-and-see attitude until the end of the month.
“I see a lot of concerned people around, lots of uncertainty, we’re in territory where we haven’t been before,” said Rob Ferraro, owner of Jerry’s Paint and Hardware on Point Judith Road in Narragansett.
He said that his business is down already by about 40 percent because people are following state guidelines to avoid large crowds and stay at home if possible — especially senior citizens who are typically the most frequent hardware store shoppers.
Owners say these are unusual times for a generation who have not experienced the swift changes brought by the coronavirus crisis. Even the Sept. 11 attacks in 2001 and the 2008 financial crisis didn’t have such an impact as the virus has to business-as-usual.
One immediate repercussion is the state order banning indoor dining at restaurants, coffee houses and bars for at least the next two weeks while officials monitor the progress and extent of the contagious disease also known as COVID-19.
Strong and repeated warnings have been issued to protect against the disease ravaging other countries. It can affect anyone and has particularly devastating consequences for people over age 65 or those with compromising health conditions.
Even businesses remaining open are taking steps to help the public protect themselves by limiting contact with others. For instance, a Wakefield Starbucks normally pushes a long line consistently on a Sunday morning for java and tea drinkers.
No line formed this past weekend and before state orders were issued.
Immediate Impact on Restaurants
“We’re seeing a lot of changes and restaurant owners are trying to figure out what to do — stay open with curbside service or close,” said Kristin Urbach, executive director of the North Kingstown Chamber of Commerce.
She noted that about half of her restaurant members, which include owners from outside North Kingstown, are offering curbside service — order by phone, pay by credit card and pick up food outside the restaurant door. Other area chambers said restaurants, coffee houses and bars in their towns were doing the same.
A list of her member restaurants providing curbside pickup can be found on the chamber’s Facebook page at NKChamberRI, she said, while other chambers said they were working to put the information online.
Joesph Viele, executive director of the Southern Rhode Island Chamber of Commerce, which covers territory from East Greenwich to Westerly, said retailers are also noting that business is down.
While some have both strong plans and cash flow to continue an operation when hampered by a sudden intrusion, others do not, he said, noting this also affects incomes in the region for service-level workers.
“It’s the end of winter, it’s typically slower and we don’t know how close someone is (to failing), we just don’t know, but they are out there.” Agreeing with him is Peg Fradette, operations manager of the Narragansett Chamber of Commerce.
“I think there are some that this will put them under. I don’t want to be doom and gloom, and don’t want to give a number, but I think there could be several who fold the cards,” she said.
To keep afloat a small business that does not have a strong financial cushion, it’s a matter of staying focused on what’s needed to be safe, servicing customers in some way, keeping employees on payroll and the business operating, said several owners.
Following the Sunday decision in Massachusetts to shut down indoor dining at restaurants, Ryan Audette, owner and executive chef at North Kingstown’s The Provisioner New York Deli & Cafe, said he knew it was only a matter of time until Rhode Island did the same.
“Sadly, it was expected we’d follow suit with Massachusetts,” Audette said.
The deli had already taken precautions regarding the virus, including increasing its sanitary procedures, but now with no in-house dining allowed until March 30, Audette said his work turns towards increasing delivery and takeout capabilities.
“We will continue to remain open doing takeout and delivery,” he said. “We’re trying to get online ordering all set up on our website.”
Four days before Rhode Island Gov. Gina Raimondo’s closure order earlier this week of indoor dining, restaurants at URI were already seeing markedly reduced foot traffic. Most of that was because students were on spring break last week.
“We’ve reduced our hours during spring break, and we’ll probably extend that,” said Jay Wichert, owner of the long-time Kingston Emporium restaurant Albie’s Place. Four people were dining inside at lunchtime late last week. The restaurant had moved its weekday closing time from 11 p.m. to 9 p.m. during break.
Albie’s offers pickup and delivery, which in situations like a snowstorm actually results in more business. “We’ve had to bring in more help to deliver during snowstorms,” he said.
Then there are those who see shutting the doors for now as the only approach. Back Forty Food & Drink in North Kingstown decided to stop all operations during the time period.
“To our valued guests,” Back Forty wrote in a post on its Facebook page, “it is with great sadness and heavy hearts that we are making the difficult, but necessary decision, to close our doors for the well-being of our staff and customers.”
“We understand that this is a challenging time for individuals and their families and we want to do everything we can to help our community stay safe and healthy. We look forward to reopening our doors and welcoming you all back once this is all over. Stay safe and stay healthy. See you soon.”
Effects on Other Businesses
At the Contemporary Theater Company in Wakefield, management decided to shut down all productions until the state gives the signal to re-open, said Christopher J. Simpson, artistic director and founder.
CTC had many classes as well as performances scheduled for the next few weeks, including the finale of its well-known Wakefield Idol series running every Thursday evening.
Simpson said that he had to lay off the employees of the theater and is planning for a six week or so closure, but hopes it is much shorter.
“We want to do our part, keep everyone safe, our audience, our staff, our community. We are proceeding on the assumption we will be closed weeks,” he said, adding that the theater previously only canceled a few shows since 2005 when it was formed.
Simpson and the chamber leaders encouraged people to support the retail, theater and food-service businesses through gift-card purchases now that puts money into the business and gives the customers a return on that investment later.
For those like Jerry’s Hardware owner Ferraro, it’s less about gift cards and more about alternate ways to serve customers.
He said he plans to stay open on his regular Monday through Sunday schedule, despite the downturn in customers, and has adopted some new approaches to service.
About 15 to 20 customers daily call and ask to order an item, but don’t want to come inside the story to get it, he said. Ferraro explained he will take credit cards by phone and tell the person an approximate time the item will be ready.
The customer, after arriving in the parking lot, calls the store and the item is the brought to the vehicle, he said. While the store does not deliver items, it does see this approach as another way to keep business flowing, Ferraro added.
Chamber representatives Fradette, Viele and Urbach said they’ve heard no complaints from members about these orders that curtail business, profits and payroll.
They said they have only heard about businesses’ desire to help and work through this crisis with these temporary changes and extra help to the community, such as Matunuck Oyster Bar and George’s of Galilee providing free food for children and high school teenagers.
“This is one of those things where it takes a village,” Fradette said.
“Everyone is going to need everyone else’s help. When this is all over, we’re going to all need to go out in droves and help the businesses, too,” she said.


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In partnership with BuidlersTribe, the second edition of Unfold 2023 Demo Day will feature Web3 entrepreneurs presenting groundbreaking Web3 use cases aimed at accelerating adoption. A panel of marquee Web3 investors will evaluate the presentations.
Bengaluru, October 17, 2023 – CoinDCX, India’s leading and most valued VDA company, in collaboration with BuidlersTribe, is thrilled to announce the second edition of Demo Day at Unfold 2023. Building on the success of its collaboration in 2022, CoinDCX is once again proud to partner with BuidlersTribe. This annual event, designed to support the innovative spirit of Web3 startups, will take place in the heart of India’s Silicon Valley, Bengaluru on October 20th, the second day of Unfold 2023. Unfold’s Demo Day is the perfect platform for aspiring Web3 founders to connect with potential investors, partners, and customers, propelling their entrepreneurial journey to new heights. Some of the top-tier Web3 investors, including CoinDCX Venture, Pi Ventures, Mumbai Angels, Global
Coin Research, Dorahacks Ventures, Hashed EM, Draper Dragon, and IOSG Venture, are participating in the Demo Day. The journey began when CoinDCX and BuidlersTribe officially opened the call for applications on September 11, 2023, which resulted in an overwhelming response with hundreds of
proposals flooding in. A diverse panel of industry experts and investors reviewed all submissions, curating a cohort of promising startups. On October 20th, these entrepreneurs will get the opportunity to
showcase their solutions and innovations before the marquee investors, illustrating how their startups hold the potential to address real-world challenges.
Rohit Jain, Managing Director, CoinDCX Ventures, emphasized, “It’s truly inspiring to witness the surge of Web3 startups building innovative use cases right here in India. At CoinDCX Ventures, our mission is clear – we are dedicated to nurturing and supporting these promising startups, thereby fortifying the Web3 ecosystem. We are eagerly looking forward to the unprecedented innovation that will unfold before us, and we’re committed to empowering one deserving Web3 startup with a substantial $1 million investment.”
The CEO of BuidlersTribe, Raghu Mohan “I am glad to see the return of Unfold and being able to work with the CoinDCX team is an icing on the cake. Since last year’s edition of Unfold, Buidl.so has over 1400 startups on the platform and vibrant community of tribe members helping early stage web3 startups every day. This year’s cohort for the demo day will get even more support from Buidl.so and we’re excited to uncover India’s next big web3 phenomenon at Unfold 2023.”
Unfold 2023, India’s premier Web3 event happening in Bengaluru, will be a three-day event starting 19th – 21st October 2023, it will comprise of conference with industry experts, a multi-chain multi-protocol hackathon for developers, a demo day for Web3 founders, etc.
We prioritize user safety and security, strictly adhering to KYC and AML guidelines. In our commitment to quality, we employ a stringent 7M Framework for the listing of crypto projects, ensuring users access only the safest virtual digital assets.
Established in 2018, CoinDCX is the preferred crypto exchange in India, but also an instrumental player in building the broader Web3 ecosystem. Trusted by over 1.4 crore registered users. Our mission is simple: to provide easy access to Web3 experiences and democratize investments in virtual digital assets.
CoinDCX has partnered with Okto for India to launch a secure multi-chain DeFi app that offers a keyless, self-custody wallet . It aims to simplify the world of decentralized finance (DeFi) by providing a secure, user-friendly, and innovative solution for managing virtual digital assets.
Through CoinDCX Ventures, we’ve invested in over 15 innovative Web3 projects, reinforcing our dedication to the Web3 ecosystem. Our flagship educational initiative, #NamasteWeb3, empowers Indians with web3 knowledge, preparing them for the future of virtual digital assets.
CoinDCX’s vision and potential have gained the confidence of global investors, including Pantera, Steadview Capital, Kingsway, Polychain Capital, B Capital Group, Bain Capital Ventures, Cadenza, Draper Dragon, Republic, Kindred, and Coinbase Ventures.
At CoinDCX, we’re leading India towards the decentralized future of Web3 with an unwavering commitment to safety, simplicity, and education.
Buidlers Tribe is a web3-native distributed incubator, helping startups in their 0 to 1 journey through our platformBuild.so (https://buidl.so/).
We bring together industry leaders, mentors, and top VCs to help promising web3 startups through funding, grants, startup tool credits, demo days, and mentorship from some of the best names in the ecosystem. To this date, Build.so has helped over 1400 startups, giving them exposure to nearly 400 investors from around the world. A total of $28 million has been raised by startup founders through Build.so’s various events and initiatives, including the Demo Days.


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FedEx Q1 profit dropped
Adjusted earnings for the quarter were $3.05 per share, down from $3.46 per share last year.[break]
Revenues for the quarter remained flat at $17.05 billion compared to last year. Wall Street analysts had a consensus estimate of $17.06 billion.
"Our performance continues to be negatively impacted by a weakening global macro environment driven by increasing trade tensions and policy uncertainty," said CEO Frederick Smith. "Despite these challenges, we are positioning FedEx to leverage future growth opportunities as we continue the integration of TNT Express, enhance FedEx Ground residential delivery capabilities and modernize the FedEx Express air fleet and hub operations."
The company said its operating results declined primarily due to weakening global economic conditions, increased costs to expand service offerings and continued mix shift to lower-yielding services.
Being global transportation companies, the performance of shipping giants like FedEx and its rival United Parcel Service Inc. (UPS) are considered a strong barometer of overall consumer attitude and economy.
Looking forward to the full year 2020, the company forecasts adjusted earnings between $11 and $13 per share. Analysts currently estimate earnings of $14.70 per share. ■


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By Aaron Jourden, Senior Research Manager, Global on April 6, 2018
Many corners of today’s world are going through a period of nationalism and turning inward. This is evidenced by events such as Britain’s Brexit vote or the "America First" stance of the current U.S. administration.
But you wouldn’t pick up on that by looking at current foodservice trends across the continents. Because on menus, globalization marches on.
We’re seeing regional and national variations of the same megatrends we’ve been tracking in the U.S. restaurant industry, including growing demand for "real" food and transparent sourcing, street food interpretations, plant-based meals and evolving forms of menu customization.
Let’s look at how these megatrends are being expressed in a number of countries and regions and what implications these trends have on operators and their supplier partners.
"Real" food and transparent sourcing
Going back to basics with wholesome, "clean," unaltered food has become a priority around the world, particularly in the light of food safety scares and scandals over the past few years, which have shaken industry heavyweights from Europe and the U.S. to China, Japan and India.
Consumers demand to know both what’s in their food and what’s not in it—many are looking for items free of everything from gluten and added sugars to GMOs and artificial colors. Indeed, transparent sourcing—both in practice and in communication to the consumer—has become a high priority.
Technomic’s global polling provides some context to this trend. Around 75% of consumers strongly agree that restaurants should be more forthcoming about where they get ingredients, with this demand most urgent in India and Mexico. About 90% of consumers worldwide say they’d be more likely to purchase restaurant fare described as fresh. Some 75% of consumers are drawn to foods that are natural, authentic, premium and locally sourced. Around 60% of consumers like to see organic, GMO-free, functional and sustainable items. By region, Latin Americans are most insistent on freshness, Asians on authenticity and Europeans have the strongest preference for locally sourced foods, with six in 10 saying restaurants should always purchase local ingredients.
Consumers hunger to know the "story" behind their meal, and they want authentic presentations of traditional regional and ethnic foods. In Kuwait, Naif Chicken differentiates with fresh, vegetarian-fed halal chicken sourced from its own Kuwaiti hatchery and farms. ASK Italian in the U.K. underscores its relationship with a family-based olive oil supplier in Puglia, Italy, where two brothers insist on pressing their olives within 24 hours of harvest. Hunter Gatherer, an emerging concept in Shanghai with a seed-to-table philosophy, touts its use of natural, sustainable and chemical-free ingredients sourced from its three self-operated farms.
Street foods and snacking
What could be more authentic than the local favorites that have been sold on the streets for centuries in cities around the world? Brick-and-mortar restaurants have been borrowing ideas and menu items from street vendors for years.
The trend plays out in a variety of venues, including food trucks, gastroparks, marketplaces food hall concepts and pop-up storefronts. Timbre+ in Singapore offers chef-driven fare from various operators in a street-like setting complete with art and music. In the United Arab Emirates, the Last Exit food truck theme park concept brings together operators purveying street foods from around the world—from Iraq to India to Latin America.
The rising prominence of snacking in global lifestyles ties into this trend. Returning to Technomic’s global data, almost three-quarters of consumers surveyed say that they eat a snack at least once a day, with snacking most frequent among Middle Easterners. Six out of 10 consumers worldwide want restaurants to offer items in different portion sizes at different price points, and four out of 10 look for snack-size items on menus. Half of consumers also report that they enjoy LTOs and seek them out.
So, it’s no surprise that chains are offering snack-size LTOs to showcase street foods. KFC in South Korea, for instance, ran a street food promotion offering traditional Korean snacks, such as tteokbokki, in familiar KFC flavors.
Plant foods gain prominence
No longer just an alternative for the dining party’s "veto vote," vegetarian and vegan meals are finally getting real respect. Around the world, there’s a significant consumer segment seeking these foods. According to Technomic polling, 34% of consumers globally—including 44% of Asians—say they tend to purchase vegetarian fare in restaurants, and 28% worldwide look for vegan items. But an even broader group has adopted the flexitarian idea—forgoing meat occasionally for the sake of their own health or the global environment.
Some of the most interesting plant-based fare is coming out of countries with a strong meat-eating tradition. Witness, for instance, the rise of Hareburger, a vegetarian, vegan and health-focused concept in beef-centric Brazil. This concept’s burgers are made of lentils, quinoa and shiitake mushrooms. In another country with a pastoral culture, Australia, Hog’s Breath Cafe—a steakhouse—menus an avocado and vegan schnitzel wrap with cherry tomatoes, cos lettuce, slaw and balsamic dressing. And in meat-and-potatoes Britain, the Temple of Seitan manages to turn vegan meals into junk food with indulgent, deep-fried, wheat protein-based "chicken" served with french fries.
Even McDonald’s is testing the waters of plant-based, meat-free dining. The chain is currently offering a McVegan burger at its restaurants in Sweden and Finland.
New forms of customization
Globally, around a third of consumers say they typically order their restaurant meals with some sort of customization, but proportions vary from one region to another. Colombian, Mexican, Saudi Arabian and Indian consumers are more likely than others to say the ability to customize their meal is important.
The Chipotle-inspired model of staff standing behind a counter, assembling orders to customers’ specifications, has found remarkable success around the world. But now it’s coming up against another megatrend: the growth of grab-and-go takeout and on-demand restaurant delivery. Fewer patrons are willing to wait even a few minutes to collect the food they’re customizing. How can consumers’ yen for personalized fare work in this new environment?
Many concepts are responding with platforms from virtual build-your-own pages on their online platforms to real-world ordering kiosks where guests can build the item or meal of their choice. For instance, Malaysia-based dessert beverage brand CoolBlog is based around speedy, convenient self-service kiosks offering 25 different flavors in ice-blended and smoothie creations, with over 300 possible product variants.
Other restaurants are rethinking their format. Kamps, the longstanding German bakery chain, is looking to accommodate off-premise occasions with a new self-service concept built around quality, speed and convenience.
Implications for Suppliers
The restaurant industry is in a state of constant change, with new products emerging at a rapid pace and trends shifting and evolving across the global landscape. For both established national brands and international chains entering new markets, acceleration of menu development is making it harder to stand out. Novel trends and unexpected competition bring disruption but also open up new opportunities.
Today’s consumers purchase food from restaurants with greater frequency, have more sophisticated tastes and are very much part of a globalized, urbanized, digitized and interconnected world. But dining habits, preferences and priorities continue to vary widely across regions. Yet, consumers everywhere are demanding fare that is locally sourced, authentic to local traditions and supportive of local lifestyles, as well as items that meet their individual dietary needs.
Foodservice suppliers in global markets need to study both worldwide trends and culturally specific traditions for profit-making menu innovation ideas that they can bring to their operator customers. In a world in which experimentation, innovation and attention-getting are prioritized, LTOs and seasonal specials offer the greatest opportunities.
Consumers’ growing demands for transparency, local sourcing and sensitive treatment of the people, animals, land and waters in the supply chain should not be ignored. Suppliers should see and help operators see this new paradigm in terms of opportunities for restaurants to stand out from the competition and build a reputation for both purity and excellence.


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The art of give and take
Of the 12 agency executives interviewed for this story, nine declined to be identified or name specific clients for fear of burning bridges. "I can't really sue my client," says a top executive of a mid-size agency. "But they are in breach of contract."
An owner of another mid-sized independent says about half of clients have asked to slow down payments but that the shop is only being “lenient” with clients already on good payment terms. "For clients that were on 30-day payment terms, we’ll go 45 or 60. Clients already on 90-day payment terms; we’re not flexing at all," the agency owner says.
“We understand the situation,” the owner says. “A lot of retail or franchise clients are shut down."
Retail is understandably greatly impacted by the pandemic. Already working against a struggling category, a growing list of retailers have closed stores or furloughed employees including Gap, L Brands (owner of Victoria's Secret), Macy's, JC Penney, Kohl's, Signet (parent of Kay Jewelers and Zales), Nordstrom, James Avery, Caleres, Steve Madden and DSW.
Even so, agencies also have vendors to pay. The mid-sized indie owner says conversations with clients where the shop won't budge on payments are not easy, but necessary. “For the clients we’re not flexing on, we tell them they can’t have it both ways … if you came in with 60-day or 90-day payment terms, you have to honor that,” the shop owner says.
Some agencies say that, instead of extending payment terms, they are offering reduced fees in certain cases. One senior-level agency executive at a large agency who has had at least one client propose a payment term addition says in these cases “we plan to reduce our fees based on scope rather than extend payment terms.”
“We are trying to explain that we are a service business and that we are in this together,” the exec says. “We are pencils down on hard costs.”
In it together
Tom Denford, North America CEO of management consultancy ID Comms, says “everyone is trying to negotiate payment terms” but asserts “that is not our advice.”
“We are not encouraging advertisers to do that,” Denford says. “There might be some short-term financial gain by doing that but it damages the entire supply chain. Our advice is to keep business as usual as much as possible.”
One senior executive at a holding company-owned agency says the issue, which was prevalent before the pandemic, has been an increasingly big point of contention for him.
“Stop treating your vendors like a bank; it’s bullshit,” the exec says. "It’s a complete disregard for everyone else in your supply chain.” According to the senior executive of the mid-size agency, "At any given time, we are floating half a million to $1 million in financial payments to production companies."
Delayed payments could result in a domino effect across the industry, hurting not only creative agencies and the production companies, freelancers and other partners hired for ad shoots and campaigns but also media agencies and the ad-tech community. As Ad Age recently reported, payment delays are putting the squeeze on demand-side platforms that are paid by media agencies for programmatic ad buys; supply-side platforms paid by demand-side platforms; and publishers that are paid by supply-side platforms once an ad appears on their platform.
T. Alex Blum, founding partner of Blum Consulting Partners, which helps brands build in-house advertising capabilities, says "agencies have a tremendous challenge right now."
"How many are in a position to help their clients age their payables?" Blum says. "Everybody's got the same problem; that whole thing is something I think brands need to look very carefully at. What's our cash flow? Who are our key suppliers? How are we going to manage them?"
One bright spot for agencies has been that clients are legally obligated by contracts. But Blum says there may be loopholes for marketers, because if an agency is on retainer to do brand work for a retailer, for example, and that work is now put on pause, contracts are subject to change and may allow for wiggle room with payment terms. According to a recent IAB report, nearly a quarter of media buyers and brands have canceled their ad spend for the second quarter while another 48 percent are considering adjustments for the same time period.
Is COVID-19 an 'excuse' for bad behavior?
Some agencies complain that clients that were slow to pay before COVID-19 are using the pandemic as an excuse to either reduce payment or not pay at all.
"We had a client who was already months late on a fairly large invoice finally respond during the crisis, offering to pay only a fraction of the outstanding invoice," says one executive at a New York-based small shop. "Whether their financial issues were ongoing and then exacerbated by the crisis, seems possible, but doesn’t explain the lack of communication until the crisis hit. Startups tend to be more chaotic in general. Our established clients have been paying on time and have been fantastic."
A senior executive at another mid-sized agency says "some clients who have never been late" before are past due on invoices. “Clients are freaking out and holding onto their money,” the exec says.
The exec adds that the issue seems to be trickling down from the top at most companies. “It’s not coming from marketing but the [chief financial officers]. This is coming from way above marketing,” the person says.
“My day, every day, every hour, is spent building case scenarios,” says yet another executive at a mid-size agency. “Everything keeps changing. We keep hearing [the second quarter] will be down and we’ll come back in the third quarter but we just don’t know. It’s scary. This is how depressions start.”
Contributing: Adrianne Pasquarelli, Ann-Christine Diaz, Judann Pollack


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Three days of strikes by union members at five of Amazon’s warehouses in Germany ended on Wednesday without the company agreeing to wage talks or reporting any serious disruption to scheduled deliveries.
‘‘As long as Amazon categorically refuses to take part in wage talks, workers will keep up the pressure,’’ said Stefanie Nutzenberger, a spokeswoman for Ver.di, the service and retail workers’ union behind the strike. ‘‘New strikes can be called at any time.’’
Exactly how many workers participated in the work stoppages, which began with the early shift on Monday at four of Amazon’s shipping centers and expanded to include another of the company’s nine locations in Germany, was a point of dispute between the two sides.
Ver.di said that around 2,000 people had walked off their jobs during the first two days, based on the number of people who had signed up for strike pay. More people took part on Wednesday, Ver.di said, but it did not provide exact figures.
But Amazon insisted the numbers were much smaller and posted snapshots on its logistics blog of smiling workers processing orders in its warehouses in Bad Hersfeld, Graben and Rheinberg.
‘‘We accurately count the employees that badge in every day, and our figure of approximately 1,300 is accurate,” said Anette Nachbar, a spokeswoman for Amazon in Germany.
Amazon, based in Seattle, Wash., classifies itself as a logistics company, contending that the bulk of its 9,000 German employees are typical of the logistics sector, for which it says its wages are highly competitive. But Ver.di is trying to force Amazon to recognize itself as a retailer and set wages through collective bargaining as required by law.
Amazon has become the latest symbol of a form of American capitalism that many Germans fear threatens their economy, which seeks a balance between managers and workers. But supporters argue that the company’s policy of putting the customer first has filled a vacuum left by the general lack of service offered by German retailers.


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NZ profit soars for Distribution Central
Distribution Central has racked up a dramatically improved profit in New Zealand for the 2014 financial year.
The distributor saw profit soar from $129,636 in 2013, to $855,168 for the year ended 30 June, 2014. The profit came on the back of revenue of $18.6 million, up from $17.2 million the year before.
Cost of sales remained relatively stable at $15.9 million, up from $15.8 million the previous year.
The results come as Distribution Central signs a number of new vendors, including SanDisk, SimpliVity and an expanded Fujitsu deal.
In September the company was named APAC Distributor of the Year for Palo Alto Networks – a vendor the distributor has only had on its books for a year.
A year ago Nick Verykios, Distribution Central managing director, attributed that year’s bumper growth at least in part to an exclusive NetApp deal signed in late 2012.
Yesterday that deal ceased to be exclusive, with Westcon Group appointed as a second distributor for the vendor across the New Zealand and Australian markets.
Verykios has previously said he expected NetApp to contribute over half of Distribution Central’s revenue for 2014. When the review of NetApp’s distribution was announced in May, Verykios maintained that the relationship with NetApp was ‘substantial’ and that the distributor would continue to invest in NetApp, exploring new product and market opportunities while enhancing the current business.
Overall Distribution Central announced its largest-ever revenue - $275.8 million – for FY2014, along with a record profit of AU$5.9 million.


text: BRUSSELS (Reuters) – The European Union’s six-month ban on special sugar trade concessions for Serbia and Montenegro, aimed at combating fraud, will apply from August 8, the EU’s official journal said yesterday. The suspension of the preferential trade arrangements, however, will enter into force today, giving member states just over a week to adopt the rules nationally. The publication of the legal text in the EU’s official journal rubber-stamps the Commission’s decision from earlier this month to extend a three-month-old ban for a further six-month period over continuing fraud fears. The initial ban was due to run out on August 8. No progress «There has been no significant change in the situation in Serbia and Montenegro with regard to the deficiencies found in their system of certification and control of the preferential origin of sugar, despite the ongoing efforts of the authorities,» the notice’s text read. «Moreover, a reasonable amount of time is needed for the situation to be redressed,» it added. The EU suspension was designed to halt fraudulent sugar exports from the two Balkan states by slapping the EU external tariff – a duty of between 33.9 and 41.9 euros per 100 kilograms – on previously zero-duty exports. The Commission made its first move to crack down on Balkan sugar fraud in March, scrapping subsidies for EU exporters sending sugar to Albania, Croatia, Bosnia-Herzegovina, Serbia and Montenegro and the Former Yugoslav Republic of Macedonia. This export subsidy suspension will continue for the 2003/2004 sugar marketing year. The EU implemented the two measures to stop triangular trade where EU sugar was being sold to the Balkans with export subsidies and then re-entering the 15-nation bloc duty-free. Balkan cane sugar The special deal, which allows western Balkan countries to export their sugar production to the EU free from duties and quotas, was launched in 2001 to help the region’s war-damaged industries recover from years of conflict. But two types of fraud were quickly detected: an unusual rise in sugar exports and imports between the two regions and the discovery of cane sugar in shipments from the Balkans where only beet sugar is produced. Suspicions have long been rife that some Balkan dealers have sold sugar under the deal at around $600 per ton, by re-exporting material bought on world markets at around $200. This practice has helped destabilize local markets in Greece, Italy and Austria. However, on an EU-wide scale, the quantities involved are insignificant. European Commission figures show that in 1999, the EU imported no sugar from Croatia. The figure was 600 tons in 2000, jumping to 28,000 tons between January and October 2001. EU exports to the region also increased, with Serbia and Montenegro trebling EU sugar imports between 1999 and 2001. Croatia managed to escape the second set of sanctions because its customs administration was seen as better prepared to fight fraud, according to EU officials.


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We’ve heard of putting kids in time-out for not eating their vegetables, but in Italy, parents could be jailed if they force their kids to eat only vegetables.A newly proposed Italian law would criminalize forcing a vegan lifestyle on kids without their consent. Although the law is still in the drafting stage and would need to be voted on, it’s already garnering a high profile following four deaths of malnourished children who were fed vegan diets, according to BBC.
Imposing a “diet devoid of essential elements for [children's] healthy and balanced growth,” would be banned under the new law that will be discussed later this year by the Italian parliament before going to the floor for debate. Parents could be punished with up to six years in prison for neglect.
According to the U.K. National Health Service, kids can grow and thrive normally under a vegan diet, but special precautions must be taken in order to ensure that they don’t become malnourished. Parents need to ensure that their children are getting enough iron and vitamins D and B12 — which are found in abundance in meat products — by giving them alternatives such as legumes and fortified breakfast cereals.


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A ceramic water purification tablet developed at the University of Virginia and used by tens of thousands of people in 40 countries is now four times better than before, thanks to recent innovations in its manufacturing process developed through research at UVA.
Called MadiDrop+, the continuously reusable ceramic tablet – small enough to fit in the palm of your hand – disinfects water by slowly releasing safe pathogen-killing silver ions. It is designed for easy use; the tablet is simply set in a bucket of contaminated or potentially contaminated water, and within eight hours that water is safe to drink. Tests show that a single tablet, which has an anticipated wholesale price of $6, will remain effective for daily use for one year.
A previous iteration, called MadiDrop, which has been used for a few years now by thousands of people in developing countries and in areas with poor access to clean drinking water, was effective for six months, and could treat 10 liters of water at a time. MadiDrop+ treats up to 20 liters per day for a full year. The price difference per unit is about $1.
“MadiDrop, which is made of a porous ceramic material impregnated with silver nanoparticles, has worked exceptionally well, but we knew we could do even better with further research and development,” said Jim Smith, a professor of civil and environmental engineering who developed the product at UVA. “Through new manufacturing techniques developed in our lab, we have effectively quadrupled the effective performance of this technology by creating a tablet that releases more of the pathogen-killing silver ions into the water, and for twice as long. It’s a big plus, and that’s why we call it MadiDrop+.”
“Madi” is the Tshivenda South African word for “water.”
The tablets were developed several years ago for use first in South Africa through longstanding collaborations between UVA and South African research, education and health care partners. More than 20,000 MadiDrop tablets have been distributed in South Africa and other African nations, as well as in South America, primarily through humanitarian organizations that buy the product. As many as 100,000 people have treated their drinking water with the tablets.
Researchers in Smith’s lab have studied the tablet extensively in the lab and in field environments and have found that it kills more than 99.99 percent of water-borne pathogens, such as Vibrio cholerae and E. coli, by penetrating cell membranes and disrupting cell division. Studies of MadiDrop+ have confirmed that it is equally as effective as the original MadiDrop at treating water, but can treat twice as much water at a time and for twice as long.
“A single, reusable MadiDrop+ tablet, which is small enough to fit in your pocket, can provide about 7,000 liters of safe drinking water for a year for a family in a developing nation,” Smith said.
Until last month, the tablets were licensed by UVA for production by a public benefit company. That company has since been dissolved and replaced with a for-profit company to provide greater opportunity for investors and to expand the offerings of the company.
According to Smith, this new company, Silivhere Technologies Inc., will help facilitate the development of other water-purification products for sale to charitable and aid organizations, and perhaps to the public broadly.
“We’re working with our original investors and the University to get this new venture started, which will help us to scale up production and distribution,” Smith said. “We want to efficiently and quickly provide MadiDrop+ to aid organizations that provide disaster relief around the world, and we want to keep this highly effective water purification product highly affordable.”
MadiDrop+ is licensed through the University of Virginia Licensing and Ventures Group.


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Please join Graphene Economics in partnership with the Gordon Institute of Business Science (GIBS) for a breakfast event on 23 August 2022, focused on global minimum tax, new taxing rights and what they will mean for South Africa.
Tickets are R270 and can be purchased through GIBS.
About the event
Since July 2021, 137 countries (accounting for more than 90% of the global economy) have signed a deal aimed at ensuring companies pay a global minimum tax rate of 15%.
The Organization for Economic Co-operation and Development (OECD), estimates the minimum tax will generate $150 billion in additional global tax revenues annually. Pillar One will apply to multinationals with global turnover above 20 billion euros and with a profit margin above 10%, while Pillar Two will apply to those with global turnover above 750 million euros.
The idea behind the new system is that it will benefit countries where a company’s products and services are sold, and not only the countries where the products or services are provided from. This is a response to the trend towards companies migrating income from intangible sources (such as digital services or intellectual property royalties) to low tax jurisdictions to avoid paying a higher tax rate in their “home” countries.
While the proposed global minimum tax, which is now expected to be implemented from 2024, seems like a good idea for countries that have lost out on revenue collections from low tax arrangements, many developing countries (including South Africa and most African countries) are likely to have to give up any potential digital services taxes for limited potential benefit.
This may explain why only 23 African countries have signed the deal to date.
This event, sponsored by Graphene Economics, specialist African transfer pricing advisory firm, explores the potential outcomes and practical implications of the global minimum tax and proposed new taxing rights for multinationals, revenue authorities and economies in Africa.


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From Art installation to carnival of crisis, the Fashion industry has never been so present in any other Conference of parties than COP26.
It has been more than a month since the end of COP26, and we can say that it is the first time after COP15 that was held in Copenhagen in 2009 where Fashion is taking a roundtable seat and being seriously present in the talk about climate change and to tackle the environmental issues.
To accelerate action towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change, the COP 26 was hosted this year by the UK in partnership with Italy, and it took place from 31 October to 12 November 2021 in the Scottish Event Campus (SEC) in Glasgow, UK. COP refers to the “Conference Of the Parties” and it is the 26’th edition where parties are gathered. Conference of the Parties is an annual UN climate change conference that gathers all “States Parties” to meet in a global session to take decisions to combat climate change.
Represented as one of the most polluting industries, so many fashion-leaders and activists were gathered to discuss the role of the fashion industry on climate change, its role, and what are the decisions that future leaders need to set and to meet COP26 goals.
From Stella McCartney “ Future of Fashion” installation at the Kelvingrove Art Gallery to the parade of hundreds of London Art schools students wearing their own creative design with banners that read “solutions, not pollution”; “keep it in the ground”; “decarbonize + decolonize”; and “don’t COP out!”, so many events and marches took place in Glasgow city to enhance parties to limit temperature rise to 1.5C.
Image: courtesy of Stella McCartney , Source : Fashion United
The COP26 agenda was focused on four goals: 1) securing global net-zero carbon emissions by 2050 and keeping the 1.5-degrees Celsius limit on global warming within reach, 2) adapting to protect communities and natural habitats, 3) mobilizing finance, and 4) working together to deliver on commitments.
After a critical 2 weeks of negotiation and although the different actions and movements are done by climate activists, the pledges were only copped out to speed up the fight against global warming with no promise to contain it at 1.5 °C.
“Expecting a business to change isn’t realistic, but policy signs could have a big impact,” said Claire Bergkamp, the Chief Operating Officer at Textile Exchange."
As more than 50 companies and organizations have joined Textile Exchange’s request for policy to incentivize the use of environmentally preferred materials, Claire Bergkamp, the Chief Operating Officer at Textile Exchange, believes that governments need to take action.
Although most climate activists think that COP26 was a failure, only BLAH BLAH BLAH as Greta Thunberg once said, I think that regardless the pledge didn’t go far enough to limit temperature rise to 1.5C, the "starting pistol" had been fired.”
Referring to the Fashion industry which is, according to McKinsey & Company and Global Fashion Agenda 2020 research, produced around 2.1 billion tonnes of GHG emissions in 2018, equalling 4% of the global total. Fashion leaders need to set goals to respond to COP26 goals even if it is not approved in this Cop 26 edition because we're all witnessing the impact of Climate change and carbon emissions in our life precisely in vulnerable countries like Bangladesh, Vietnam that present a production source for many brands.
So, here are the fashion takeaways from COP26:
1. Limit the increase of global temperature to 1.5-degrees Celsius and secure global net-zero carbon emissions by 2050
Although the main COP26 outcomes were mainly focused to limit 1,5 Celsius and to cut gas emissions to 0 by 2050, however, the pledges were only copped out to speed up the fight against global warming with no promise to contain it at 1.5 °C, fashion industries have to rethink their supply chain as The Business of Fashion and McKinsey & Company 2020 research shows that 16 Around 70% of the fashion industry’s emissions came from upstream activities such as materials production, preparation, and processing. The remaining 30% were associated with downstream retail operations, the use-phase, and end-of-use activities.
As it seems that the journey is long to reach net-zero carbon emissions by 2050, fashion industries need to source more sustainable materials that can be recycled all the time or regenerative, to address close the loop strategy and supervise every action in the supply chain and every process of the entire production.
To mitigate the outcomes of climate change and the increase of emissions, fashion leaders need to invest more in innovation and research.
Photographed by Christina Fragkou
2. Adapting to protect communities and natural habitats:
Presented as two of the exporting clothing countries close to two other pioneers China and India, the two parties that they led to a dramatic finish after the two exporting clothing countries led opposition to COP26 goal, Vietnam and Bangladesh with other countries that are riskier to climate hazards like coastal and riverine flooding that could affect the fashion supply chain.
As such, companies need to think and include climate change outcomes in their strategy, and to make critical decisions based on resource scarcity, where to invest from where you produce and involve, respect, and to include local voices.
As fashion future needs to be focused more on investing in research and innovation for a new solution to tackle the worst scenario of climate change like flood and destroying primary materials like cotton, and other virgin fiber mills.
To establish resilience, fashion leaders need to use innovative materials to protect and restore the natural environment.
Photographed by Christina Fragkou
3. Mobilize finance
The Glasgow Climate Pact is the first-ever climate deal to explicitly plan to reduce coal, the worst fossil fuel for greenhouse gases and promises more money for developing countries - to help them adapt to climate impacts. Global adaptation investment from public and private sources increased from about US$23 billion per year in 2015–2016 to US$30 billion per year in 2017–2018, according to the Climate Policy Initiative only about US$500 million (1.6 percent) of adaptation finance came from private sources.
Fashion companies need to mobilize finance because decarbonization and targeting sustainable challenges require investments.
4. Work together to deliver on commitments
We have seen, in the last years, a collaboration between luxury brands and streetwear but the focus was not mainly on climate challenges. To mitigate climate change, fashion companies need to work together to deliver on commitments. Collaboration needs to focus on every process of the entire production, from sourcing the material to every detail in the supply chain. It is very important for fashion leaders to collaborate and to invest in material innovation, technology, and research for a better sustainable, and resilient world.
For sure that achieving the expectations from COP26, needs a whole change in the way Fashion operates but Regardless of the contradiction if COP26 was a success or a failure, I think as I have mentioned That it had fired the starting pistol, especially for the Fashion Industry as it is the first time where Fashion has a significant and meaningful presence.
Photographed by Christina Fragkou
Turning to Tunisia as its main objective is to contain the temperature increase to a level between 1.5° and 2 °C, compared to the pre-industrial level, and to reduce its carbon intensity to 45% by 2030. We need to ask first if Tunisian Fashion Industry is considered in COP26 goals? Do we already have DATA about the role of the textile industry in the environmental problem that Tunisia is facing? So many questions that we will try to respond to in our next articles.