Chaos and confusion in the Strait of Hormuz could drive apparel production costs up 15%

The chaos in the Strait of Hormuz, stemming from the escalating US-Iran conflict, is driving up apparel production costs, with estimates of a 10-15% increase for manufacturers in countries like India and Bangladesh. This is due to disruptions in maritime shipping caused by US sanctions and Iranian control, leading to significant increases in logistics costs. Air freight is being considered as an alternative, but concerns remain about rising expenses.