Word: footwear
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Dates: during 2000-2009
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...vintage Brioni blazer, but no umbrella and no idea which of the large white tents housed Phoebe Philo and her newest creations for the House of Chloe. Trudging through the puddles of the Jardin de Tuileries, I grasped my invite (I swear I’m Alisa Annis of Footwear News...
...gone on a shopping spree. He signed seven licensing deals last year to get the New Balance logo on gear from sunglasses to exercise equipment. He recently signed on to sponsor major league lacrosse and in February bought a lacrosse-equipment maker, Warrior. He has also expanded into hiking footwear with the purchase of the Dunham brand, and he is working with retailers to open more single-brand New Balance shops, aiming to have "a couple hundred" in the U.S. by 2006. Worldwide, Davis projects sales growth of 10% to 12% over 2003, to more than $1.4 billion this year...
...runner's high? Davis pays his U.S. factory workers an average wage of $12 an hour, plus benefits, compared with 40¢ an hour for a worker in mainland China, where 76% of U.S. athletic footwear originates. The tax breaks Congress just passed for U.S. companies to keep manufacturing jobs at home amount to chump change given that gap. Overall, the U.S. footwear industry has shed nearly 200,000 jobs since the early 1970s, leaving fewer than 21,000. More to the point: What teenager clamoring for Air Jordans really cares where the shoe is stitched...
...FOOTWEAR: How the family-owned New Balance found its groove...
...repeat the mistake. It has already signed China's next NBA prospect, the 7-ft. Yi Jianlian, 18, who plays for the Guangdong Tigers. And the company has resolved problems that dogged it a few years ago. Nike has cleaned up its shop floors. It cut its footwear suppliers in China from 40 to 16, and 15 of those sell only to Nike, allowing the company to monitor conditions more easily. At Shoetown in the southern city of Guangzhou, 10,000 mostly female laborers work legal hours stitching shoes for $95 a month--more than minimum wage. "They've made...