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Stitch Fix

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HeadquartersSan Francisco
California
United States
FoundedFebruary 2011
Owners Katrina Lake
Executives Katrina Lake
Founders Katrina Lake
Erin Morrison Flynn
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ID963451
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About Stitch Fix


Stitch Fix is an online personal styling service in the United States. Founded in 2011, Stitch Fix went public in 2017. Immediately after the initial public offering, Stitch Fix was valued at $1. 6 billion. As of February 2018, the company was valued at $2 billion.

Clothes-makers in Asia will give strong coronavirus warning

Apr 18,2020 9:54 pm

"If the workers do not die from coronavirus, they would starve to death. "

This is the highly valued, such as the pandemic, the garment industry of garment Factory Owner , Vijay Mahtaney, The Chairman of the ambattūr fashion India burdened.

In normal times, Vijay Mahtaney, and his Partner Amit Mahtaney and Shawn Islam, employ a total of around 18,000 employees in three Countries - Bangladesh , India and Jordan. But the outbreak has forced her to shut down the majority of the company, the only factory in Dhaka, partially functional drive.

Coronavirus-lock the only thing to pay is your ability, your employees are not have. You say your main problem is unreasonable, the requirements of large customers - mainly in the USA and the UK.

"Some of the brands show a true sense of partnership and a high level of ethics-the attempt to ensure, at least, enough Cash Flow to pay workers," Amit Mahtaney, The Chief executive of Tusker apparel Jordan, told The Bbc .

"But we have also experienced requests for cancellations for goods that are ready or are in the works, or discounts for outstanding payments and for goods in transit. They are also asking for a 30 to 120 day extensions to pay the previously agreed terms of payment. "

In an email to get invited by The Bbc , a US-dealer, for a 30% discount "for all the liabilities - to-date or order", delivered already.

The Reason they will cite to "get through this extraordinary period."

"your attitude, protection is only shareholder value without regard to the garment workers, in a hypocritical manner, complete disregard said their ethos of responsible sourcing" Vijay Mahtaney.

"brand, focus on the share price, does not mean now, some of you have the money for this Rainy Day , and come to the weakest link in the chain that asked us to help you, if you could, the application for a rescue package of the US government's economic stimulus package," Vijay added delivery.

It Comes as a piece of clothing manufacturers hard hit by the two big issues of the coronavirus-lock feature.

The problems began in February, when the factories could not get the raw materials they needed from China, The World 's largest exporter of textiles, with a share of around $118bn (£67bn) in the year 2018.

to close, as China's textile factories broken again in recent weeks-an indication of the clothing manufacturer hopes operations back on Track - demand, as the traders were forced to their doors, after the governments around The World imposed lockdowns.

industry

China is known as The Factory of The World , but when It Comes to play clothes, Bangladesh , Indonesia, Cambodia, Vietnam and Myanmar, a growing role.

"clothing manufacturer, the diversification has been away from China for around Ten Years , China's high costs," says Stanley Szeto clothing maker lever style, premium supplies brands like Hugo Boss , Theory, Vince and Coach, as well as online names such as Bonobo, Stitch Fix , and Everlane.

It means that clothing manufacturer's economies is an important industry for many of Asia's emerging economies, with the World Trade organization data, which show that Bangladesh and Vietnam are among The World 's four largest exporters of apparel. Bangladesh is now almost 6. 7% market share, followed by Vietnam with 5. 7%.

Bangladesh has More Than four million textile workers, and textile and clothing products from More Than 90% of the exports of the country in the past year.

Cambodia and Sri Lanka also rely on the industry for More Than 60% of their exports to Sheng Lu of the University of Delaware department of fashion and apparel studies.

The industry accounts for More Than half of all manufacturing jobs in Bangladesh and 60% in Cambodia, with the production of a particularly important employer for women.

Associate Professor Lu thinks that the Corona-Virus was able to see the pandemic in Countries such as Bangladesh , Vietnam, Cambodia, and India cut between 4% to 9% of the garment-sector work.

This is, in part, to help the government of Bangladesh , the industry is trying to.

"It has offered to subsidize a generous economic stimulus program wages, to convert loans long-term debt, and offer very low interest rates," said Shawn Islam, Managing Director of Sparrow clothing Bangladesh . "It is not enough to weather The Storm , it will help. "

- The Cambodian government has also announced tax exemption for the textile factories and proposed a subsidy to the wage scheme for workers.

This is because this outbreak could lead to longer-term impact-such as a shortage of labour, increases in the price of raw materials and a lack of production capacity, said Associate Professor Lu.

After growing criticism and pressure, several brands, including H& M and Zara-owner Inditex pledged to the payment in full for existing orders from clothing manufacturers.

"brands will benefit for many years from the production in cheap wage Countries without Social Security systems have built in many cases, the huge empires by this business model," said Dominique Muller of the labour Behind the label. "Decades of exploitation have to be paid back, to care for their employees. "

factory-owner Amit Mahtaney's true.

"retailers have to help. Richer governments rescue packages in the industry are also of vital importance," He Said .

Without it, as he claims, the industry could be wiped out completely.



retailing, manufacturing, coronavirus pandemic, companies, fashion, clothing industry, cambodia, bangladesh

Source of news: bbc.com

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