In many shopping malls and department stores in China, consumers found that cotton lingerie decrease presence while a number of new fibers like bamboo fiber, beech wood fiber, pearl fiber and Tencel appear on the market recently.
In many shopping malls and department stores in China, consumers found that cotton lingerie decrease presence while a number of new fibers like bamboo fiber, beech wood fiber, pearl fiber and Tencel appear on the market recently. Industry insider estimate that this phenomenon is close related to the pricey cotton in recent days.
In Hankou, a commercial center in Hubei province in China, it is found that cotton underwear takes a small fraction of the shelf. Most underwear on the shelf is made of modal fabric, newly released pearl fiber and European imported beech wood fiber.
It is reported that the recent cotton price increased from 17000 RMB per ton to 20000 RMB per ton in recent 4 days, up 20%. The sharp rising cost of cotton place heavy cost pressure to apparel and textile industry in China.
In addition, the daily move of the RMB/USD rate has sprung to life in recent weeks. On Sept 22, 2010, the RMB/USD rate broken through the 6.7 barrier. “Although we defense risk by using forward foreign exchange trading against RMB and fixed exchange rates, loss is still right there.” Said an exporting department manager of I’d Lingerie Co., Ltd in China.
The cost pressure and exchange rate pressure has pushed many apparel and lingerie companies to develop new products. I’d Lingerie Co., Ltd revealed that it will release high end combed cotton underwear in the next spring or summer. And the price of combed cotton underwear will be 500% higher than that of common cotton underwear.
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