The euro's weak exchange rate will have its impact on clothing in the next few months: the majority of clothes is imported into Europe and will now become more expensive.
Prices up 10 %?
The exporting countries, mainly located in Asia, usually trade in dollars or a local currency linked to the dollar, meaning purchases are now more expensive in euro and affecting clothing prices, says German purchase organization Katag in an article in newspaper Die Welt.
There were no concrete numbers mentioned, but Die Welt believes the price increases could be up to 10 % and will become apparent in the upcoming winter and spring collections.
The German fashion industry federation also points to other issues that may impact pricing, alongside the weak euro: more strict environmental regulations and better wages for people in textile-producing countries will also push prices up.