Brands want sustainability – but who will fund it?

BUDAPEST – Unit prices for apparel imports to the US from Bangladesh fell by 7 per cent between 2014 and 2018 and by 3.6 per cent from the US to the EU over the same period. The declining prices, which have coincided with a 50 per cent increase in minimum wages for garment factory workers, were presented at last week’s fourth Global Sustainable Fashion Week which took place in Budapest, Hungary. The figures illustrate the extent to which apparel factories are being squeezed from both ends as the industry drives towards greater sustainability and compliance. The figures come from the Bangladeshi Government, Eurostat and Otexa.