Business Services Industry
Mexican Jeans Capital Hit By U.S. Slowdown.
Internet Securities, July, 2001
MEXICO CITY, Jul 6, 2001
Gomez Palacio, a small town in northern Mexico, has become the unofficial world capital of denim jeans production, making 4 million pairs of pants per week for distribution through U.S. retail giants such as Wal-Mart, Kmart and The Gap, according to a report in Mexican financial daily El Economista. But a slowdown in the U.S. economy has seen demand for jeans slump recently, and Mexico's reputation as a country offering apparel makers inexpensive labor has begun to suffer, with wages on the rise and the Mexican peso gaining ground against the dollar. As a result, between 30 and 40 of the approximately 250 jeans factories located in and around Gomez Palacio have closed down in the past several months, while those that remain open are...
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