ZURICH - Brands and retailers have now cancelled an average of 31 per cent of orders with their suppliers in the global textile value chain during the COVID-19 pandemic, according to new statistics.
The figures have been compiled by the International Textile Manufacturers Federation (ITMF) which is calling on governments in supply chain countries to support their local industry during what it described as an "unprecedented" demand shock.
The results of the second ITMF Corona Survey revealed that on average orders are down by 31 per cent and that turnover for 2020 is expected to drop by 28 per cent.
