Ross still sees plenty of Eastern promise: According to media reports, he inked an agreement Friday with the state-owned Vietnam National Textile Garment Corporation (Vinatex), based in the capital Hanoi.

FORBES: Billionaire Ross Weaves Textile Deal In Vietnam

Ross' company, International Textile Group has developed plans for several major initiatives that will target China's emerging middle class starting with a partnership with China Ting Group , a Hong Kong-based manufacturer and retailer of textile products.

FORBES: Ross: Billionaire Ventures Into Chinese Textile Market

"In reality, we have issues within the supply chain because there are several systems out there, and we have breaks within the data process, " said Reinhold Wawrzynek, chief executive of Mobiwork AG, a Munich-based system-software provider in the textile industry.

WSJ: Sewing Machines Go High-Tech

Lewis-based Harris Tweed Hebrides was one of 10 textile firms that took part in Style: Scotland, which was held in the British Embassy in Moscow.

BBC: Harris Tweed mill on Lewis targets Russia