When I recently asked textiles executives about their current issues in sourcing, one CEO answered: “In one word…COTTON!!”
This reply…actually, this primal scream…reflects the textiles industry’s ongoing frustration. From about 50 cents a pound a year and a half ago, cotton prices have climbed to the point where $2 a pound is now in clear sight—and they might not even stop there, once they reach that level.
Plus, cotton isn’t the only cost crunch in textiles. Because of the multiplying turmoil in the Middle East, oil and gasoline prices are expected to spike, and soon.