How Fashion Brands Can Improve Purchasing Practices To Support Workers [Forbes]
Under Armour, Inc. Class C (UA)
Last under armour, inc. class c earnings: 2/11 06:55 am
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Source: Forbes
Saks Fifth Avenue CEO Marc Metrick wrote a letter last month to around 2,000 brands stating payment terms will increase from 30 to 90 days from delivery of goods. Long terms and late payments, which many of the brands stocked by Saks say they have endured from the department store, have long blighted the fashion industry. A household-name retailer like Saks can have an important financial and marketing impact on a brand, create a power dynamic that makes it difficult for them to refute this behaviour. However, it's not just brands that are impacted. The knock-on effect of unstable cash flow down the supply chain impacts apparel manufacturers and can put garment workers at risk of missed wages. The impact of purchasing practices was something that Esther Knight noticed from her time as a buyer. Knight worked at several mass market fashion brands in the UK before joining Vivienne Westwood, which she credits with showing her a more ethical way of doing business, and now runs her own
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