Apparel Prices Go Higher
Rick Darling, president of sourcing company Li & Fung U.S., said clothing prices will continue to grow over the next 10 to 20 years even as cotton prices fall. Pressure is mounting to push wages up in China and other Asian countries. Starting this year, China plans to increase minimum wages by 13 percent a year over the next five years in the industrialized coastal zones. Darling expects more apparel manufacturing to move to inland China.
