Neiman Marcus plans to scale back its physical operations in China, closing a warehouse that serves its online business in the country.
Confidence, investment in China from US companies is cooling as the country’s economic growth slows and labor costs rise.
Africa’s beleaguered apparel/textile industry could take advantage of a downturn in exports from Chinese manufacturers.
Department stores in China have flourished, with apparel purchases driving growth.
China’s powerful apparel and textile industry is looking for continued growth in sub-Saharan Africa, where local manufacturers and brands are now worrying about how to deal with the competition.
A report by Frost & Sullivan says China will become the second largest retail market in the world by 2015.