November 14: A South Korean shipping company that filed for bankruptcy protection five years ago emerged as the surprise winning bidder for some assets of the collapsed Hanjin Shipping Co., pipping a bigger rival that is undergoing a creditor-led debt revamp. Korea Line Corp., the nation’s second-largest bulk carrier, beat Hyundai Merchant Marine Co. to be the preferred bidder for Hanjin’s Asia-U.S. business, a spokesman for the Seoul Central District Court said in a text message Monday. Final sale documents will be signed Nov. 21, according to the court. Shares of Korea Line slumped the most in three years. ( Source: Bloomberg)
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November 13: For U.S. retailers, lighter inventory is in vogue. In a sector with shrinking sales, however, it is only one piece of the profitability puzzle. As third-quarter results roll in from department stores such as Nordstrom, Macy’s and Kohl’s, as well as many specialty retailers, lighter inventory has been a constant theme. For many, this has meant less discounting and better gross margins. ... But light inventory can cut both ways, and investors may not be properly accounting for that risk. ( Source: Wall Street Journal)
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November 11: At least 13 garment workers were killed after a fire broke out in a factory on the outskirts of the Indian capital, police and witnesses said on Friday. The blaze, which started in the early hours of Friday as the workers slept inside the leather factory workshop in Uttar Pradesh state, also critically injured eight more people. Police investigating the cause of the fire in Ghaziabad district said preliminary findings suggested it may have been sparked by an electrical short circuit. (Source: Reuters)
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November 14: Chinese President Xi Jinping told U.S. President-elect Donald Trump that co-operation was the only choice for relations between the world's two largest economies, with Trump saying the two had established a "clear sense of mutual respect". Trump lambasted China throughout the U.S. election campaign, drumming up headlines with his pledges to slap 45 percent tariffs on imported Chinese goods and to label the country a currency manipulator on his first day in office. ( Source: CNBC)
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November 14: The Trump administration scored its first legislative victory months before taking office when congressional leaders said they would not now be taking up ratification of a massive trade deal at the center of President Barack Obama's foreign policy legacy. The timing is particularly delicate for Obama, who travels to Europe and then Peru this week in a final foreign trip capped by a conference of the very foreign leaders who negotiated the Trans-Pacific Partnership. (Source: CNN)
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November 9: ... Newly minted President-elect Donald Trump has done what many across the footwear and apparel industries did not see coming. ... Footwear News reached out to top executives for their initial reactions as well as their thoughts on the key issues that Trump should address in his new role. ... Stephen Lamar, EVP, American Apparel & Footwear Association: "Footwear is one of the most traded products globally, and so much of the industry depends on access to consumers and access to supply chain in order to stay competitive. We have a lot of high duties and trade barriers in the U.S., and so we’re going to be looking for ways that we can tackle those duties and barriers." (Source: Footwear News)
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November 14: ... For the first time in Amazon’s 20-plus year history, Amazon is suing merchants that are selling counterfeit items on its marketplace. The Seattle-based company filed two lawsuits in the state of Washington Monday. ... In recent months, Amazon’s marketplace, which sells everything from toilet paper to Mickey Mouse t-shirts to exercise equipment, has come under fire for selling counterfeit items. CNBC reported earlier this year that counterfeit items sold by third party sellers—many of whom are China-based—are becoming increasingly problematic for the e-commerce giant. ( Source: Fortune)
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November 14: The Chinese celebration of Singles Day each November 11 has become one of the world’s largest shopping events – and has arguably turned into the most important day in the calendar for many of the world’s top brand owners. But as e-commerce giant Alibaba reports record Singles Day turnover for 2016, as well as greater-than-ever buy-in from foreign brands, the true extent of trademark infringement and counterfeit trade taking place during the event remains to be seen. ( Source: World Trademark Review)
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November edition: Counterfeiting is big business. And it’s getting bigger every year. A recent study by the Organization of Economic Cooperation and Development (OECD) and the European Union Intellectual Property Office (EU IPO) showed that counterfeiting equaled approximately half-a-trillion dollars, or about 2.5 percent of global imports, in 2013. Headlines regularly scream of shipments that are seized by U.S. Customs and Border Protection (CBP), which has identified counterfeiting interdiction as a priority task. Further, CBP – which provided data that was used for the abovementioned study – reported an 18 percent increase in the number of seizures of counterfeit goods in 2015 compared with 2013. Sadly, many don’t understand the damage that is done by counterfeiting. (Source: Fashion Mannuscript, column by AAFA's Steve Lamar)
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In Brief
Post-election
webinar for members: AAFA members that missed our post-election webinar "The Elections - An Initial Look for AAFA Members" held Thursday, November 10 can now access the recording here (member login required).
Making
the most of membership: AAFA members get the most out of membership when they participate in our events and committees – join committees here.
Did you know AAFA’s Government Contracts Committee (GCC) keeps members apprised of developments that bear on the needs and requirements of the U.S. military and other parts of the U.S. government with respect to the procurement of clothing and shoes? Learn more about the Spring 2017 GCC Meeting here.
See all of AAFA’s latest letters, comments, and testimony here.
Congress and government agencies solicit comments on a range of issues that may affect your business – find a list of comment opportunities here.
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Member Welcome: Everlight USA, Inc.
 Founded in 1972, and publicly listed on the Taiwan Stock Exchange in 1988, Everlight Chemical has continually developed high value-added, low energy consumption, and low polluting high-tech chemical products. Everlight Chemical has successfully provided textile dyes and leather dyes for the apparel and footwear industries. Everlight Chemical has also developed light stabilizers for plastics, coatings, and cosmetics.
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November Nov. 16-17 Government Relations Full Committee Meeting and Day on the Hill
Nov. 29 Environmental Committee Meeting
Nov. 30 Social Responsibility Committee Meeting
Nov. 30 Knock it Off! Brands & the Counterfeiting Quandary Workshop (followed by AAFA's Brand Protection Council Meeting on Dec. 1)
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Other Industry Events
November 30, 2016 | New York, NY
Two Ten Footwear Foundation, the national charitable foundation of the U.S. footwear industry, will host its 77th annual VIP Dinner and Gala on November 30, 2016. The evening of philanthropy and entertainment will be held at the legendary Hammerstein Ballroom in New York City’s Manhattan Center. Click here for more information.
January 25-26, 2017 | Orlando, FL
Each year, the PGA Merchandise Show gathers 40,000+ industry leaders representing 74 for its premier golf merchandise show. This year, complimentary education conference sessions will be held Jan. 25-26 and will cover numerous topics that will play a role in sourcing next year, including the recent U.S. presidential election, labor concerns, the activewear market, new sourcing strategies and wearable technology. AAFA President and CEO Rick Helfenbein will present a special keynote, "Sourcing Merchandise in the New Political Environment." Learn more about the education sessions here. See recent coverage in Sourcing Journal for additional details.
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Supply Chain
