India-EU FTA to make trading system more fair and sustainable: Euratex
The current trade balance between the European Union and India in textiles and clothing is hugely tilted in India’s favor. The EU annually imports clothing and textiles worth over €6 billion from India while exporting just half a billion worth of these products to India. India can leverage this... Read more
Fashion for Good’s first India report highlights textile recycling initiati…
To reduce dependence on virgin resources and decarbonize operations, the fashion industry needs to introduce, new textile recycling technologies, says Katrin Ley, Managing Director, Fashion for Good that recently released its most comprehensive report on textile waste recycling in India. Titled, &ls... Read more
Maternity apparels market to reach $41.3 billion value in 2031: Report
Latest Future Markets Insights report shows, global sales of maternity apparel will increase 5.8 per cent year-over-year in 2021. Demand for maternity apparels will be driven by growing number of women professionals continuing to work through their pregnancy From 2021-2031, global maternity apparels mark... Read more
APTMA outlines new reforms to stabilize Pakistan’s economy, boost exports
Sri Lanka’s economic fallout made headlines in the last few months. Pakistan is also on a similar path with most of the country’s foreign currency reserves fast depleting and inflation levels rising to unprecedented levels. The country’s exchange rates are also on a downfall while ... Read more
Sri Lanka’s Stretchline Holdings using the downturn to spread wings beyond …
The recent success of high-end apparel manufacturing nations like Sri Lanka can be attributed to three defining characteristics including robust secondary supply chains, high-skilled staff and a cost-competitive location. Sri Lanka has one of the most skilled workforce besides being strategically located,... Read more
Vietnam’s textile and garment exports continue to grow despite challenges
A conference organized by the Trade Promotion Department, Vietnam’s Ministry of Industry and Trade highlighted, the country has grown to be the third largest clothing exporter in the world. Vietnam’s textile and garment exports account for 6.4 per cent of the world’s total after China wi... Read more
Economic slowdown to impact global luxury sector: Survey
Nearly 59 per cent of respondents to a survey by the Global Expert Network members of the Luxury Institute believe, current economic slowdown will lead to a downturn in the global luxury goods and services sector. Around 41 per cent predict, current situation will lead to a recession in the global luxury ... Read more
Global secondhand market to grow at 11.2% CAGR from 2021-2031: Study
Increasing focus on sustainability is propelling the growth of global secondhand apparel market that is likely to expand at 11.2 per cent CAGR from 2021-2031. Sales through online channels are likely to grow at 17.9 per cent CAGR through the assessment period, says latest Future Markets Insights report. ... Read more
India’s apparel retail revenues to grow 13% in FY2023: ICRA
Upgrading the retail sector’s outlook from negative to stable, credit rating agency ICRA projects a 13 per cent revenue growth for the sector in FY2023, with operating profit margins rising by 150 bps to 8.2 per cent Y-o-Y. Retailers curb discounts as costs increase Reduced sales compelled r... Read more
Global apparel and footwear exports reach $582.1 billion in 2021: Study
Consumer’s desire for fast fashion continues to grow stronger with each passing year, shows the latest data from FactSet compiled with the data from United Nation’s Comtrade Using UN customs export data by countries, the report shows, the apparel and footwear industry manufactured and e... Read more
The Change Masters Conference makes a successful debut
Held on July 19-20, 2022, at The Radisson Hotel, Lonavla, Maharashtra, the Change Masters Conference was a first-of-its-kind B2B event for the intimate wear industry in India. Propelled by the idea of encouraging young leadership and new business processes, the Change Masters Conference was introduced by... Read more
Upcoming festive season will boost apparel sales in India, hope retailers
Retailers in India, especially shopping malls, hope, the upcoming festival season will boost sales after the pandemic-induced slump. The festive season in India starts from July 28 with festivals like Nagara Panchami, Raksha Bandhan, and Varamahalakshmi in August. The season continues till January, coveri... Read more
Greater transparency can help address fashion industry issues: Report
The latest Fashion Transparency Index by Fashion Revolution says, world's largest fashion brands and retailers will have to increase transparency to tackle the climate crisis and social inequality. Ranking 250 of the world’s largest fashion brands and retailers for their public disclosure of human r... Read more
A strong differentiation strategy can boost resale companies’ businesses, s…
The pandemic has fuelled US consumers’ love for pre-owned fashion. A report by resale clothing website ThredUp, shows, in 2020, the pandemic year, around thirty-three million consumers in the country bought secondhand apparel for the first time. Around 76 per cent of these first-time buyers plan to increase the... Read more
US fashion industry optimistic about future prospects: USFIA Study
Optimism thrives in the global fashion industry with 77 per cent respondents to the 9th annual Fashion Industry Benchmarking Study expecting brighter prospects for the industry over the next five years. Conducted by, The United States Fashion Industry Association (USFIA) the study surveyed over 30 leading fashi... Read more
Sales recovery drives up apparel brands expansion plans in India
Apparel retail has started buzzing again with prices increasing in both India and globally. The apparel and footwear segments in India are growing in double digits with offline retailers’ revenues rising almost 25 per cent this year, as CRISIL report indicates. Encashing on this, Indian apparel retailers are se... Read more
Booming sales drive apparel prices as consumers shop for more high-end garm…
Refreshing wardrobes has now become more expensive for consumers with apparel prices rising 0.8 per cent in June compared to May and 5.2 per cent year over year, according to the US Bureau of Labor Statistics’ consumer price index. In recent times, many apparel retailers including Target, Gap and Walmart... Read more
China’s stockpiling move fails to boost cotton prices
To boost recovery of China’s cotton market, Beijing aims to buy half a million tons of Xinjiang cotton for state reserves. China’s cotton market has been on decline ever since US announced ban on cotton made in Xinjiang. Beijing has announced plans to buy between 300,000 and 500,000 tons of Xinjiang cott... Read more
European apparel makers urge nearshoring textile machinery
Apparel makers are urging European manufacturers of equipment ranging from embroidery machines to textile cutters to bring back production closer home. Arthur Kitta, Head-Sales-Europe and Africa, Durkopp Adler GmBh attributes this to the desire of factories in Europe, North Africa and Middle East to expand and moder... Read more
Maintaining price-flexibility will help brands tide over recession: Report
Fast fashion brands across the US and the UK markets have increased price points across, reveals latest data from Stylumia. Based on latest analysis by KPMG, the report compares retail list price of select brands and retailers in the standard and fast-fashion segments. The performance of these brands and retailers is... Read more
China’s textile industry outlook remains bleak as 30% companies report loss…
The outlook for China’s textile industry is rather bleak. Nearly, 30 per cent companies have reported a loss in the first five months of this year, as per data by China National Textile and Apparel Council. Similarly, companies’ total profit declined 20 per cent compared to the same period last year. The ... Read more
Plant-based materials to dominate A/W 2022-23 collections: Textile Intellig…
The European fashion industry seems to be going back to nature as fabrics made from plant-based materials are set to dominate most collections in autumn/winter 2022-23 season. A report titled ‘Survey of the European fabric fairs for autumn/winter 2022-23,’ by the global business information company Textil... Read more
Big fashion brands continue to grow with new partnerships and collections
After last year’s record number of partnerships, the fashion industry is witnessing a few big partnerships this year as well. Some major partnerships are from design houses like Louis Vuitton, Gucci, Prada, Balenciaga, etc. The first of these partnerships includes the collaboration of Kanye West and Gap’... Read more
Bangladesh ready to cope to EU’s new sustainability decision
Apparel Industry experts in Bangladesh believe, the country is fully equipped to cope with the European Union’s recent decision end to fast fashion by 2030 The EU recently announced an expansion of its eco-design rules in textile products. The Union also urged big companies to disclose the volume of unsold inv... Read more
Fashion makers in Italy connect with local suppliers for marketing expertis…
Fashion brands across the world may rejoice over putting pandemic gloomiest seasons behind but fashion manufacturers in Italy, both big and small, are keeping a close watch on current economic and geopolitical scenario. As per a Woman’s Wear Daily report, the government in Italy is introducing a range of ... Read more
Focus on more classic items will help brands tide over recessionary times
Posting a ‘V-shaped’ rebound from the pandemic, global luxury sales surged 7 per cent to $301 billion in 2021 over 2019 pre-pandemic levels, reveals consulting firm Bain & Co. Sales of luxury players including Chanel and Hermes’ grew almost 30 per cent. However, the impending global economic rec... Read more
‘Bangladesh wants to cooperate and collaborate instead of competing with India,’ BGMEA President
Bangladesh apparel industry has bounced back from the pandemic with order books full and deliveries happening across the globe. Expecting to touch $41 billion in apparel ... Read more
‘Suppliers, brands need to rebuild relationships not to repeat similar mistakes in future’, IAF President
The pandemic and now the Russia-Ukraine war have put a lot of pressure on global apparel market across the value chain. The industry is coping with numerous issues includ... Read more
Growing demand from domestic, foreign players boosts India’s textile machinery b…
Heralding a textile revolution in India, the textile machinery industry is transforming from labor-intensive to a more modern and automated manufacturing ... Read more
Innovation key highlight at ITMA 2023
ITMA has announced it will continue to present and share innovative manufacturing technology and materials with the industry at its 19th edition in Milan.... Read more
Santoni launches new XT intarsia machine
Leading Italian circular knitting machine builder SantoniSpA has launched its new unique XT intarsia machine that combines all of the knitting possibiliti... Read more
Gartex Texprocess to be launched as a hybrid event
In conjunction with MEX Exhibition, Messe Frankfurt Trade Fairs India will hold Gartex Texprocess India as a hybrid event. The event will scheduled alongs... Read more
Kornit Digital reports revenues of $57.4 million in Q3
Kornit Digital reported revenues of $57.4 million in its third quartercompared to $47.3 million, net of $2.4 million attributed to the non-cash impact of ... Read more
Creativity, innovations to help brands face the COVID-19 storm: McKinsey study
Spurring the biggest economic contraction since World War II, COVID-19 has hit every sector from finance to hospitality. Its discretionary nature makes the sector particularly vulnerable, say McKinsey... Read more
COVID-19 Impact: Unchartered way forward for Bangladesh’s denim industry
Top global brands/retailers have been flocking to Bangladesh for the quality of denim products at competitive prices. A new relatively new entrant in denim, Bangladesh expects strong demand for their ... Read more
COVID-19 is not the only reason for decay of brands and retailers today
Even before COVID-19 pandemic, most Western brands and retailers were struggling to survive. In the new millennium, brands and retailers increased their reach to new geographies by opening more and mo... Read more
McKinsey suggests five strategies for fashion companies to combat COVID-19
Even as brick-and-mortar shut down, fashion firms can position themselves for recovery when the COVID-19 pandemic fades, says a McKinsey study. However, to achieve these objectives, firms need to firs... Read more
Time for brands to protect the industry by standing by their commitments
CANCEL the shipments, is not the right word at the moment, perhaps to HOLD could be more reasonable. Brands should stand by their commitments as their orders are already in process. This is the only ... Read more
LEADERS SPEAK
‘Retailers need to inform customers about the category of masks they are selling’
Bobby Arora, Director, Status Quo
“We wait for customers to come into our stores. At this moment it is important for every offline retailer to reach out to their customers and tell them about the new products they have started selling. They need to tempt and bring their customers to buy their product and when they buy they will obviously come in and buy more products. Sometimes even though we do not want to buy online but the continuous rotation of ads tempt us to buy the product but this doesn’t happen offline. In today’s situation retailers will have to adopt this approach of showing customers the products they need as it could be they are delaying the purchase of these products.”
Read Full Interview Here
“China’s superiority may remain unchanged even after COVID-19”
“Due to the turmoil caused by COVID-19, global apparel and textile industry has been greatly affected. In Japan, many people are forced to work from home and consequently not only individual workers (including freelancers) but also company employees are frightened of large-scale personnel-cuts. Incomes have reduced to 60 per cent of normal. Amid such a situation, people’s desire for ‘dressing’ is low. This tendency will continue for a while even after COVID-19 is over, which will lead to local small-mid-sized textile companies suffering from lack of funds, as they cannot wait for recovery, causing more bankruptcy and/or voluntary closures.” Read Full Interview Here
“Discount retailers and value-oriented brands stand to win”
“Consumer spending is dramatically curtailed during a recession. Consumers have adopted short-term behaviour during the pandemic that in many cases will become permanent, as a lesson learned from such unprecedented occurrences. Not only do consumers become more financially conservative but also credit may become less available and a large cohort may go into default on their debt, dramatically limiting purchasing power. Consumers will wake up from the pandemic in a new economic reality, changing their commercial behaviours in extreme ways.Read Full Interview Here
“Deferral of some duty payments and import fees would provide needed liquidity”
US deferred duty payments on some imports for 90 days. American Apparel & Footwear Association (AAFA) President and CEO Steve Lamar agreed the deferral of some duty payments and import fees would provide "some of the liquidity needed to keep more Americans employed and more American companies operational during this crisis."Quoted in Just-Style
‘Don’t use this opportunity to stitch up suppliers’
My approach at the moment is that if you don’t need the expense, cut it, but don’t use this as an opportunity to stitch up suppliers. We are hearing stories of brands and retailers that are doing that but in my opinion it won’t serve them well in the longer term. The supply chains are going to be ravaged after this and you will need them. People will remember.Quoted in UKFT
“Crisis presents opportunities, and we will be ready to act on those that make good strategic sense”
“I also believe that crisis presents opportunities, and we will be ready to act on those that make good strategic sense,” said Chip Bergh, CEO, Levi Strauss , “ not underplay the human cost of the pandemic, or the need to protect employees,” he said, during a conference call with investors.Quoted in WARC
“Coronavirus lockdown has changed our lifestyles in ways that make buying new clothes particularly irrelevant”
Consumers are actually spending more on essential goods: Grocery stores saw a 26.9% increase in spending and health stores saw a 4.3% increase. This is partly because these are the only brick-and-mortar stores that are allowed to remain open right now, but it is also because consumers are worried about spending money unnecessarily with a significant recession looming on the horizon. Across the board, sectors that rely on discretionary spending have seen declines. “There is a lot of uncertainty and anxiety about the future,” says Andrew Lipsman, principal analyst at the research firm eMarketer. “People are shifting their spending to focus on the things they really need and cutting their budgets on less essential goods.” Quoted in Fast CompanyRead Full Interview Here
‘India can take advantage of this situation and increase its textile exports’
“One inherent advantage Indian textile industry has is that we are fully independent as far as the supply chain is concerned. Compared to other industries like pharmaceutical, electronics etc, their supply chain is dependent of global suppliers including China. So the industry that can really take advantage from global market with sustainable increase in exports is textile. If the government realizes this and gives proper support the industry will bounce back faster and increase its export share.” Read Full Interview Here
“Buyers and Sellers should plan together to see how they can sustain”
“The current situation is very uncertain, complex and unprecedented. Customers who closed their stores or point of sales have no option but to cancel their orders. In fact, we are unable to ship to even those who have not cancelled their orders. Some have deferred it where there is low impact believing it may start by the first week of June. As the situation has impacted both parties in the business they should take each other’s views in resolving issues; should be open for suggestions and see mutually how they can minimize the loss. They should plan together to see how they can sustain their market share and build on opportunities. Read Full Interview Here
‘We need to learn from this crisis and push ourselves to be self-dependent’
“Not only India and but the entire world is realizing, we need to have alternate supply sources. Indeed, this is a big eye opener for everyone more so for us since we are in competition with China. There is nothing that stops us from creating large capacities where we will be able to cater to the world’s requirement in various segments, and fulfill the entire value chain in apparel and the downstream industry. I am sure, many entrepreneurs will come forward to assess the pitfalls we are going through and the lessons learnt from them. In future, some investments will go through in fabric and other raw materials that we are sourcing from China. We need to learn from this and push ourselves to be self-dependent.” Read Full Interview Here
‘There is an opportunity for India as everyone will look for an alternative source’
“Definitely there is an opportunity for India as everyone will look for an alternative source. Hence, if we are able to exploit this chance, then definitely there is a possibility for India to be the next sourcing hub. China on the other hand has the advantage of bulk production and to get that kind of advantage and to come to their cost structure will take time though our labour costs are comparatively the same and the advantage they have is of mass scale production. I feel India should take this challenge and fill the gap." Read Full Interview Here
‘Future apparel sale will depend on the sentiment that prevails after COVID-19’
“It is wait and watch strategy as we have been informed by customers due to the pandemic all orders are on hold. We can prepare ourselves for future challenges of low demand. Low demand means markings are also low and competitiveness is higher in the market this puts pressure on us to go back to basics to see our cost structure, ways of doing business etc. Many things might change. One is low demand, and the other is new rules of conducting business, most of which will be through video conferencing etc. It looks like there could be a systematic change in overall structure. We are preparing ourselves by keeping our morale high, think positive and identifying the gaps that need to be filled to enable us to meet the challenge of demand whether it is low or high." Read Full Interview Here
"The normal wasn't normal," said Marina Gorbis, executive director of Palo Alto's Institute for the Future. "The normal wasn't good." The Institute focuses not only on forecasting the future but also developing innovative solutions. "What kind of future do we want to live in?" she asks. "What kind of future do we want to create? And what can we do to promote that desirable future?" COVID-19 has disrupted what we thought was normal. Gorbis said we're at the first of three stages. The first is reaction to the crisis. Reset is second when we re-assess and evaluate what happened and why. The third is reinvention. For example, the pandemic has revealed weaknesses in hospital capacity and gaps in who has health coverage. The pandemic has exposed the need for government help with many households vulnerable when a paycheck ends. "The fact that millions of people don't have $400 in savings in case of emergency is unacceptable. That's not normal," "I don't want to go back to normal," she concluded. "We need to create a new normal." “I do not think any country is equipped to replace China including India”
“Lack of credibility and trust will lead to many large brands looking for alternative sourcing to China but I do not think any country is equipped to replace China including India. India does not have that kind of capacity to feed global demand and are not in a position for bulk manufacturing of normal commodity items. We do more of customized exports. We don’t do manufacturing of bulk items. We don’t have that capacity and infrastructure at the moment. It will take two to four years minimum even if everyone is aligned and the government gives supporting fiscal and tariff benefits. Given the reality of Indian industry and government’s policy support measures, it seems an unrealistic expectation.” Read Full Interview Here
‘Once the country opens up, we will face severe worker issues’
“Once the country opens up after the lockdown, at the onset, we will face severe worker issues. Textile industry is a labour-intensive industry and with large number of workers having returned to their native bases before and during the lockdown, availability of labour would be scarce. This is generally noticed after festivals and we are likely to face a greater challenge in bringing them back to work. However, we expect things to normalize by May, assuming that the lockdown is partially and reasonably eased by April. Some units will restart aiding workers to return back to their manufacturing hub and situation would gradually stabilise” Read Full Interview Here
“The garment industry is facing a challenging situation. While buyers have stopped orders as they are facing their own problems and production have been cut down but what is bothering is that payments are being held back in most cases. As for our own operations, due to the national lockdown we are adhering to government directives and have stopped work. Once the lockdown opens in India and globally, we will decide the market as most of our products are export based and we do not foresee any immediate change in the situation. There will be a substantial cut down of orders and orders that are on hold or pending may or may not come back soon. I feel, India’s lockdown may continue for a longer time even though I hope it does not extend beyond April 14. Even the domestic market may not be normal once the lockdown is over. A lot of thing has shifted dramatically during this period the impact is going to be for long term. A slowdown in demand both from domestic and export market will be seen for fairly a long time after the lockdown.”In short to midterm, it would impact as there’s disruption in global supply chain
From the textile and garment industry prospective there would be short- to mid- term business impact on volumes as due to the lockdown working factories have come down to minimum production levels. From September onwards, normalcy should be restored but it will take about three to four months for the industry to bounce back. Things are looking good now but it is an uncertain period and is difficult to say something at this stage because it looks like we are containing the pandemic.Read Full Interview Here
‘Once everything normalizes there will be a big momentum’
“Once everything normalizes there will be a big momentum. The advantage is that we have a huge potential and such big domestic market hence we are not dependent on exports alone. I don’t see any threat for the textile industry. As for opportunities, we are expecting more export orders in future because the same has happened in the yarn segment and it will happen in the fabric segment also and the world will take India more seriously as a manufacturer. So far everybody was dependent on China. Since they offered cheaper rates, people switched to China but now the world will think in a different way to keep the supply chain active from India.” Read Full Interview Here
Zara collaborates with Renewcell for a recycled textiles collection
Global fashion brand and part of Inditex Group, Zara has collaborated with Rene... Read more
US denim jeans market go grow at 3.14% from 2021-2025
The US denim jeans market will grow at 3.14 per cent from 2021-2025 as against ... Read more
CHINA INSIGHTS
Contributed by Mr. Zhao Hong & Ms. Xing Rong
Amid unprecedented Non Woven growth, China revises mask quality standards
With the daily output of masks touches over 20 million, China introduces new standards for... Read more
China: Silk city Shengze is pilot zone for the world-class textile cluster
Shengze, home to the largest silk wholesale market known for silk and man-made s... Read more
Vietnam’s garment –textile exports revenues grow by 20% Y-o-Y in July
Revenues from Vietnam’s garment and textile exports grew by 20 per cent Y... Read more
Polyester and Polyester-cotton yarn trades higher in Ludhiana
Better demand led to few counts and varieties of polyester and polyester-cotton... Read more
Global zippers market to reach $22,280 million by 2028
Presently valued at $16.760 million, the global zippers market is expected to g... Read more
Fast fashion waste to reach 134 million tons by 2030: UN Charter on Climate…
A statement from the United Nations Charter on Climate Action projects, waste f... Read more
Global textile colors market to reach $11.1 billion in 2032: Report
Growing at 6.2 per cent CAGR from 2022-2032, the global textile colors market i... Read more
Groz-Beckert to participate in 18th Indo Intertex
Groz-Beckert will exhibit its innovations at the upcoming 18th Indo Intertex th... Read more
Asos appoints Elena Martinez Ortiz as new Director-Womenswear
British clothing e-tailerAsos has appointed Elena Martínez Ortiz as its ... Read more
Synthetic clothing contributes to microfibre pollution in India: Report
A new research report by environmental research organization Toxic Link reveals... Read more
GartexTexprocess India inaugurated in New Delhi
Textile Secretary ShriUpendra Prasad Singh inaugurated the seventh edition of G... Read more
Plus size clothing market to grow at 5.7% CAGR till 2032
The plus size clothing market is expected to grow at a 5.7 per cent CAGR from $... Read more
Ensure MMF garments are made from local yarn, urges BTMA
Mohammad Ali Khokon, President, BTMA urged TipuMunshi, Commerce Minister to ens... Read more
Cotton conference in Coimbatore attended by 400 ginners and traders
Nearly 400 cotton ginners, brokers, spinners, and traders from different parts ... Read more
US apparel industry registers highest growth in July
Eleven manufacturing industries in the US reported growth in July, with apparel... Read more
Vietnam hopes export earnings from garment-textiles to rise to $45.7 billio…
Vietnam expects to earn $45.7 billion from garment-textile exports this year am... Read more
SpydaSilk representatives attend SaigonTex
Representatives of KraigBiocraft Laboratories, Inc’s apparel brand SpydaS... Read more
ReshaMandiforays into the global market
India’s largest farm-to-fashion natural fibre digital ecosystemReshaMandi... Read more
Continue with the GSP plus preferences, urges JAAF
YohanLawerence, Secretary General, JAAF urged authorizes to continue with the G... Read more
House of Anita Dongre to open first flagship store
House of Anita Dongre will soon open its first flagship store showcasing premiu... Read more
MAS Holdings launches new venture with BAM Knitting
MAS Holdings has launched a new venture by acquiring the assets of BAM Knitting... Read more
Homeboy Industries partners with Guess for a new upcycled collection
Homeboy Industries has partnered with American clothing brand Guess to launch a... Read more
Columbia Sportswear Company’s ESG report highlights progress across 2021
The 2021 Environmental, Social, and Governance (ESG) Report by American sports ... Read more
Adidas adjusts guidance for FY2022 as recovery in China slows
On July 26, adidas adjusted its guidance for FY 2022 due to the slower-than-exp... Read more
Vietnam to organize 8th Textile Summit 2022
The 8th Vietnam Textile Summit 2022 will be organized from September 22-23, 202... Read more
Puma to organize event to discuss industry’s sustainability issues
Puma will organize a global event on September 06 to discuss solutions for some... Read more
Taka’s value depreciates against United States dollar
The value of Bangladeshi taka has depreciated to 102 for one single dollar from... Read more
Sangam India’s Q1 net profit declines 1.7%
For the first quarter ended June 30, 2022, Sangam (India)’s net profit de... Read more