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Moderate recovery in activity expected for 2021

S

SENSITIVE RISK for entreprises

  • Fragmentation

  • Internationalization

  • Capital Intensity

  • Profitability

  • Fragmentation

  • Internationalization

  • Capital Intensity

  • Profitability

  • Strong demand for personal protection equipment
  • Segments enjoying favorable structural trends (sportswear, luxury)
  • Global supply chains vulnerable to external shocks (pandemics, trade tensions)
  • Very strong pressure from large clients (clothing retailers)
  • Competition from the fast-growing second-hand market in mature economies
  • Challenging relocation of manufacturing from China to other countries (Vietnam, Bangladesh, Indonesia etc.)
  • Adaption of new ESG standards could inflate operating costs

Key players

Country Role Sector risk
China

#1 Producer

D

High risk

India

#2 Producer

C

Sensitive risk

Italy

#4 Producer

C

Sensitive risk

Turkey

#5 Producer

D

High risk