Vahap Küçük, Chairman of the Board of Directors of LC Waikiki, signaled that a hike in clothing products may come in an interview with Bloomberg HT. Complaining about the cotton price, Küçük thinks that clothing inflation will rise…
While citizens are trying to struggle with the increase in food prices, one of the biggest clothing brands in Turkey. LC Waikikimade a striking statement on the subject. Vahap Küçük, Chairman of the Board of Directors of the company, told Bloomberg HT. the clothing industry is not in good shape either.announced that a hike in price hikes could also take place in this sector.
According to the statements made by Vahap Küçük, the reason why the sector is in difficulty is that it is the main raw material of textile. cotton. Vahap Küçük stated that they bought cotton at a price of 65 cents last year, but this year it was purchased at 1.05 dollars. temporary even though he thinks that it is because of the rise in clothing inflation. is worried…
“If it goes on like this for another two or three months…”
In the statements made by Vahap Küçük, Chairman of the Board of LC Waikiki; “cotton prices unexpected there has been an increase. Cotton, which was 65 cents last year, reached $1.05 this year. There is an increase of about 80 percent in dollar terms. If it goes on like this, this will negatively affect clothing inflation. There was a similar problem in 2011, but the prices then decreased again. So it’s a temporary situation. My advice is to buy as much cotton as the order quantity, stocking up doesn’t make sense.” with “Inflation in ready-made clothing and shoes is completely in input costs caused by the increase. If it goes on like this for two or three more months, unfortunately, the summer season will be the cause of inflation. over 10-15 points likely to increase.” expressions were used.
RELATED NEWS
October 2021 New Car Prices Started to Be Announced: 80 Thousand TL Increase in One Night
TÜİK, which has been at the center of the discussions with the data it has announced, recently released its inflation data for September. explainedpercent of September inflation on an annual basis. reached 19.58 percent. had announced. According to the announced data, the item whose prices increased the most on an annual basis was food and non-alcoholic beverages. The statement from the LC Waikiki management will soon be announced as well as the food prices. prices of clothing products It’s a clear indication that we’re going to start discussing…