LONDON – UK fashion retailer Next has warned of clothing price inflation in 2022. The company said prices for its spring and summer clothing and homeware ranges would rise by 3.7 per cent from a year earlier, and it expects a 6 per cent increase for autumn and winter goods. The price increases are due to increased shipping and manufacturing costs as well as wage inflation in fashion supply chains.
The latter half of 2021 was marked by supply chain challenges for fashion retailers. Lockdowns and logistical issues in China and Vietnam led to fashion brands scrambling to source clothing in time for Christmas. India, Bangladesh and Pakistan were all beneficiaries in terms of increased garment exports in the final quarter of the year.
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