Primark News

Women hold New Look shopping bags on Oxford Street in London, February 12, 2010. REUTERS/SUZANNE PLUNKETT

South Africa's Brait buys Britain's New Look for $1.2B

African investment heavyweight Brait SE (BATJ.J) said it will pay $1.2 billion for virtually all of budget clothes retailer New Look, giving it a substantial presence in Britain’s fiercely competitive fashion retail market.

Workers assemble shirts in a garment factory in Hong Kong, China.

Asia garment industry faces Africa as emerging competitor

It was a turbulent year 2014 for Asia’s textile industry: Soaring labour wages in China, violent workers’ protests in Cambodia and collapsing factories in Bangladesh were just some of the bad news that made it into headlines.