Global vibes

Instore credit surge

UNITED KINGDOM: Retailers in the UK have reported a surge in the number of consumers taking out in-store credit agreements to help with purchases. A report by finance and leasing group Retail Bulletin showed there was a 24 per cent increase in the use of in-store credit in the 12 months to March 2009 while credit card spending and the number of bank loans had fallen by three per cent and 76 per cent respectively. 

Clothing unsafe

CHINA: A significant amount of children's clothing made in China's Guangdong province is unsafe with some garments containing an excessive amount of chemicals, according to a report by government group the Provincial Quality and Technology Supervision Administration (PQTSA). According to a report in the China Daily, tests conducted by the group found just 53.5 of garments met safety standards. The group found problems with the garments included false information about raw materials, poor colour fastness and excessive content of the chemical formaldehyde.

Brown's closures

UNITED STATES: Brown Shoe, the umbrella company of footwear brands Naturalizer, Buster Brown, Famous Footwear and Dr Scholl's, has confirmed it will be forced to close more stores than expected due to the weak economy. The footwear chain, which said it planned to open 55 Famous Footwear stores in the next financial year, will also close 55 to 70 stores with a further 30 stores closing per year in fiscal 2010 and 2011. It had earlier stated only 35 stores would be closed. The company did not reveal which lines would be effected.

Back from the dead

ITALY: The head designers at Italian fashion house Gianfranco Ferre fashion house have trawled through the late designer's archives to create a new jewellery line. The brand, which suffered the death of its founder and the bankruptcy of its holding company within a two-year timeframe has confirmed the jewellery line will be produced as part of its relaunch efforts. Ferre's parent company, IT Holding, sought bankruptcy protection from its creditors early this year, less than two years after Gianfranco Ferre's death in July 2007. Ferre executives insist the bankruptcy filing hasn't affected operations.