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SL apparel industry will rebound: Sharma_我的网站

一 |     Colombo, Oct 17 (UNI) Coats International Global CEO Rajiv Sharma says he is confident that Sri Lanka’s apparel industry will rebound and the economy will bounce back.
“It’s actually happening as we speak, despite the last three months of unrest and confusion,” the Daily FT newspaper on Monday quoted him as saying.
Sharma, who was on a flying visit to Sri Lanka to meet customers and employees, says the vibe was very good in the country. “You could never get a Sri Lankan down or depressed because there’s always happiness, optimism and a belief that tomorrow will be better than today."
The CEO says the support the country gets internationally was clearly seen, owing to the goodwill Sri Lanka has built over several decades.
“I meet customers in Europe and the US who are empathetic and are genuinely willing to support Sri Lanka and its apparel industry. Everyone wants to go the extra mile with their support. The way I see it, this crisis is just a bump along the road to greater prosperity for Sri Lanka.”
Sharma also spoke positively about the global market.
“There is no demand destruction happening at a large-scale. So I believe the world economy will continue to be resilient. While there will be intermittent shocks, if you break it down into its components, I think the US and the Americas broadly, will be less impacted by what’s happening globally.”
He added that Europe was in a difficult spot and would remain an area of concern as the chances of a recession have increased, but says Asia was looking relatively strong.
The Coats Global CEO says Sri Lanka is special for the industry and Coats because of its people.
“It is the human capital in this country that allows it to punch above its weight. When you meet people in the industry, there’s optimism, expertise, courage and specialisation based on a track record of delivery. There are industry giants that have originated from Sri Lanka.”
Sharma says the kind of garments manufactured locally were very complex and cannot be transported or made in Africa or some other country, adding that Sri Lanka has the skill, modern machinery and good management that is needed for delivering this complexity, in abundance.
The CEO says his wish to have more employees from Coats Sri Lanka taking on regional and global roles in Coats.
UNI MR。    Christie's has canceled the second auction of jewels belonging to an Austrian billionaire, whose German husband made his fortune under the Nazis, following "intense scrutiny," it said Friday. The auction house held a first controversial online and in-person sale in Geneva of part of the large stash of more than 700 jewels in May, and had been scheduled to hold a second round in November.But in a statement it said "Christie's has taken the decision not to proceed with further sales of property from the Estate of Heidi Horten."

             

With just a portion of the collection sold, the auction eclipsed previous records set by Christie's in sales of properties that belonged to actress Elizabeth Taylor in 2011 and the "Maharajas and Mughal Magnificence" collection in 2019, both of which exceeded $100 million.      Hopes had been high for similar results from the second round. But following an initial report in the New York Times, Christie's sent a statement to AFP confirming that it had canceled the second round, acknowledging that "the sale of the Heidi Horten jewelry collection has provoked intense scrutiny.""The reaction to it has deeply affected us and many others, and we will continue to reflect on it," it said.

• Adolf Hitler's watch sells for $1.1M in controversial auction

A large number of Jewish groups had asked Christie's to halt the initial Horten sale in May, describing it as "indecent" and demanding that the auction house do more to determine how much of it came from victims of the Nazis.                 The extraordinary collection belonged to Horten, who died last year aged 81 with a fortune of $2.9 billion, according to Forbes.A report published in January 2022 by historians commissioned by the Horten Foundation said Horten's husband Helmut Horten, who died in Switzerland in 1987, had been a member of the Nazi party before being expelled.

    

                                                     

    

In 1936, three years after Adolf Hitler came to power in Germany, Horten took over textile company Alsberg, based in the western city of Duisburg, after its Jewish owners fled. He later took over several other shops that had belonged to Jewish owners before the war.Christie's in May defended its decision to go ahead with the sale, with Christie's international head of jewelry Rahul Kadakia telling AFP that all of the proceeds would go towards charities.                      "Christie's separately is making a significant donation towards Holocaust research and education," he said at the time, stressing that the "proceeds of the sale is going to do good."                                 

In:    
• Austria
    
• Christie's
    
• Nazi
    
• Germany
    

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