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Double-digit revenue growth for Richemont

The Switzerland based luxury holding has announced a year-on-year sales increase of +25% at actual exchange rates, and +24% at constant exchange rates, in its third quarter ending December 31.

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USHSLA warns of detrimental impact of U.S. tariffs

The U.S. Hides Skins & Leather Association (USHSLA) has submitted comments to Office of the U.S. Trade Representative opposing the imposition of tariffs, as high as 25%, on approximately US$200 billion worth of Chinese imports to the U.S. and how the escalation of trade tensions with China has already resulted in significant harm to its member companies.

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Improved cattle supply helps Tyson’s Q2 beef results

The world’s second largest meat processor, after Brazil’s JBS, has seen its profits impacted by a rise in freight costs in the quarter ending March 31, but sales volume in the beef segment increased due to improved availability of cattle supply, stronger demand for its beef products and increased exports.

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Catching the hidden variables in auto leather manufacture

Leading Italian tannery machinery maker Erretre will be outlining its latest research findings and technology to improve automotive leather processing by understanding some of the hidden variables that can have a negative impact on the final leather. The presentation will form part of the ILM Automotive Leather Supply Chain conference in Munich on May 22. 

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Impact of demonetisation felt in Chennai

The Chennai leather market is yet to recover from the unfavourable impact of demonetisation of INR500 (US$7.3) and INR1,000 (US$14.6) currency notes. Local activities are reportedly very slow in all items of leather, and tanners and exporters find it difficult to carry on their business. 

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Leather exporters concerned with demonetisation

India’s Commerce and Industry Minister, Nirmala Sitharaman, is meeting export promotion councils and other sector representatives today, November 21, to discuss the impact of the Modi Government demonetisation scheme. 

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