Facebook is changing its company name to Meta. Will that affect the marketing of the seamless garment

Facebook is changing its company name to Meta. Will that affect the marketing of the seamless garment?

CEO Mark Zuckerberg confirmed Thursday that Facebook is changing its company name to Meta, reflecting the company growing focus on building virtual worlds, known as Metaverse. But rebranding does not help employers efforts to retain workers and attract new ones.

In recent weeks, Zuckerberg and Facebook have stepped up scrutiny over their handling of misinformation and hate speech and the harm it can cause teens and children. The latest investigation comes after Frances Haugen, a former Facebook employee turned whistleblower, released internal documents to the media suggesting the company knew its products and services could cause harm but struggled to fix them.

On Monday earnings call, Mr. Zuckerberg rejected the documents claims, saying they "paint a false picture of our company" and that Facebook problems were a reflection of society.

But the latest news of the company name change has already been criticized for distracting it from a series of allegations that could match, if not contribute to, employee attrition rates.

"Facebook has talent, and competitors in the market are looking for that talent," Mr. Holthom said. "It is very competitive. You can be sure that companies are preparing to help out selectively by asking people who are considering a move. "From a talent standpoint, this is an unstable time for Facebook."

In just one measure of a company employer brand, Facebook has slipped several years as the best company to work for after taking the top spot in 2018, according to review site Glassdoor Employee Ratings. It dropped to number 7 on the 2019 list following reports that political consultancy Cambridge Analytica improperly accessed the data of 87 million Facebook users. It ranked 23rd in 2020 and climbed to 11th in 2021.

Earlier this summer, Facebook was one of the first influential employers to announce that all employees could request full-time work remotely after the pandemic, postponing plans to return to work until 2022.

Still, rebranding can provide retention and recruitment for highly specialized employees involved in the meta-universe, "with the opportunity to do really revolutionary work on a large budget," Holtom said.

But the company is unlikely to see a positive impact among the public or employees not involved in the metasexes, Holthom said: "I think they are at a lot of risks."

Industry overview of the seamless garment

Compared with woven clothing, knitted clothing has the characteristics of relaxed and comfortable, free movement, soft and close-fitting, and no sense of bondage, accounting for nearly 2/3 of the daily clothing consumption. The traditional knitting process requires the stitching of the knitted piece, but the thickness and seam mark of the stitching will affect the comfort and aesthetics of the knitted garment, especially the tight and corset knitted garment. In order to solve the discomfort and appearance destruction caused by the seamless garment suture process for tight-fitting and corset knitted garments (main underwear at that time), seamless knitting was born.

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Seamless knitting, also known as "three-dimensional one-time molding knitting technology", its production process is based on the digital model of human body curve database and human physiological function requirements, relying on computer-aided design tools to complete style design, using industrial intelligent digital control technology, The yarn with "three-dimensional, one-piece" modeling structure directly from the industrial knitting machine into a seamless garment clothing products, is a digital intelligent modern clothing production technology. In short, seamless knitting technology is the use of special seamless knitting equipment, the use of computer digital simulation function, in the form of three-dimensional production of one-time molding clothing, neck, waist, hip and other curves without suture, can be directly completed from yarn to clothing.

The market trend of the seamless garment

With the continuous improvement of people living standards, people demand for underwear gradually increases, and so does the demand for seamless garment. With the hot selling of seamless underwear products, the comprehensive and rapid development of seamless garment will be driven.

Seamless underwear is a cylindrical product woven directly from the seamless underwear knitting machine. It is one-time molding underwear for the neck, waist and hip without seams. Compared with traditional knitted clothing, seamless underwear is no longer bound by the elasticity of knitwear caused by stitching, so it has higher comfort and fit. Different from traditional underwear, the pattern and style of seamless underwear are completed on the equipment at one time through the process design, with a rich variation. The pattern and style of the new can faster cope with the current rapidly changing market, and quickly attract the attention of consumers from the appearance. At present, seamless garment seamless underwear accounts for about 11% of the global underwear market.

In terms of industry pattern, seamless underwear is similar to FMCG textiles such as cotton socks. China is currently the world largest exporter, with relatively mature production technology and a complete industrial chain, accounting for more than 60% of the world output, mainly in the middle and low-end capacity. Turkey, Vietnam, Sri Lanka, Italy and other countries also have production capacity. With the rising labor costs of seamless garment, some seamless underwear manufacturers began to shift their production capacity to Vietnam and Indonesia.

The market price of seamless garment

China seamless underwear exports account for about 70% of the world total, taking an absolute leading position. The main market of China seamless garment exports is the United States (34%), followed by Japan (9%) and The United Kingdom (7%). In the first half of 2020, the export scale of China seamless underwear decreased by more than 30% year-on-year, mainly because the seamless apparel business is mainly concentrated in the European and American markets. In the first half of the year, Europe and the United States became the hardest hit area of the NOVEL coronavirus epidemic, and the end consumption of seamless garment seamless apparel had a great impact, leading to a decrease in the number of orders of Chinese enterprises. In addition, the seamless underwear itself is highly related to sports scenes, and the demand for relevant products declines as consumers reduce outdoor activities due to the impact of the epidemic.

It can be seen that seamless garment is still a "fresh" product in the eyes of most consumers in China, and the seamless underwear market has not really formed. In the future, with the continuous improvement of national living standards, people demand for sports underwear, body underwear and the seamless garment will gradually increase and people will have a better understanding of their functions and characteristics. Once most consumers fully accept seamless underwear products, a huge market space will be revealed, and the price of the seamless garment will also fluctuate greatly.

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