SIMA upholds extension of term loan moratorium period for the apparel …
Ashwin Chandran, Chairman, The Southern India Mills’ Association (SIMA) has stated that the extension of moratorium period of term loan for another three months i.e., upto August 31, 2020 has come as a sigh of relief for the ailing textiles and clothing industry. He stated that the MSME package announced by the F... Read more
Despite COVID-19 US apparel industry’s revenue to grow in 2020: Survey
A new forecast by the Institute for Supply Management published in the ‘Spring 2020 Semiannual Economic Forecast’ indicates that in the US manufacturing, revenue, capital expenditures and utilization are all expected to contract substantially this year due to the coronavirus pandemic. However, the same sur... Read more
Business agility to determine future success of luxury brands
In its first webinar organised in early-April, IMD Business School discussed the impact of COVID-19 on the luxury industry. The discussion highlighted, the crisis is likely to accelerate changes that were already unfolding within the industry. The webinar focused on five inflection points that would lead to a break wit... Read more
COVID-19 impact, fashion sector shifts focus on responsible fashion
Shifts in political, cultural and financial situations across the world due to the outbreak of COVID-19 is forcing the fashion sector to now focus away from niche areas of corporate social responsibility teams and sustainability experts to climate crisis. In place of the old doctrine of shareholder primacy, the sector ... Read more
Bangladesh RMG sector calls for a collective effort to deal with chall…
With COVID-19 reshaping the entire world; earlier theories like learning about customers, competitors and market conditions may not fit into tomorrow's rapidly changing business environment. The same is true about the readymade garment sector in Bangladesh which is heading towards a major phase of turbulence. COVID-19 ... Read more
Brands and designers adapt to a new world as fashion weeks go online
Like every adversity offers an opportunity, the current lockdowns to curb the spread of COVID-19 has become a period of profound adaptation for all industries across the world including fashion. The most recent example of this is Monte-Carlo Fashion Week, which recently launched its digital version on Instagram. The f... Read more
Closed stores and slow legal systems makes bankruptcy challenging for …
The shutting down of economy has compelled many retailers to go bankrupt. However, the bankruptcy process itself has become a victim of the lockdowns as brands are not able to realize its benefits due to their stores being closed and legal system slowing to a crawl. Top fashion brands and retailers in the US like Neima... Read more
Apparel retailers cautiously optimistic as online sales surge
A recent webinar on retail and ecommerce by CommerceNext, for marketers in New York showed, the global apparel sector is cautiously optimistic as around 49 per cent apparel retailers reported a jump in their online apparel sales from March 29 to April. Sucharita Kodali, Vice President and Principal Analyst at Forrester... Read more
China’s e-commerce report for Textiles and Apparel 2019 showed stable …
In the pre Corona period, statistics show 2019 as an year of continued growth in textiles and apparel online sales to conclude 6.69 trillion Yuan, up by 12.06 percent Year- on- Year. B2B ecommerce sales topped taking a lion-share of 73.24 percent at 4.9 trillion Yuan. Online retail sales of apparel/home-textiles mainta... Read more
CMAI welcomes economic package announced by the finance minister
CMAI has welcomed the measures announced by Nirmala Sitharaman, Finance Minister, especially those connected with the Government’s support to the MSME Sector – on which she focused on today. According to CMAI, the enhancing of the upper limits of the sector, the merging of the manufacturing and service sec... Read more
Fashion to become trendless as brands blend design with purpose
Lack of customer activity is increasing brands’ dependence on fashion forecasters who are guiding them to navigate the ongoing crisis. Firms like WGSN and Stylus are holding in-depth video meetings with clients to advise them on what the post-COVID-19 world might look like. These forecasters are not just providi... Read more
WTO Barometer predicts decline in world merchandise trade in H1 2020
Latest WTO Goods Trade Barometer reveals the volume of world merchandise trade is likely to fal... Read more
Keep export activities normal: BKMEA
BKMEA has advised the apparel industry to keep its export activities normal to keep the wheel o... Read more
SIMA hails RBI's extension of term loan moratorium
The Southern India Mills’ Association (SIMA) has hailed the extension of moratorium perio... Read more
Crystal International launches new collection in collaboration with R Colle…
Crystal International Group has launched ‘Denim Reimagined’ a fully traceable denim... Read more
Luxury brands initiate new campaign on social media
Luxury brands Cartier and United Colors of Benetton have initiated a 'Rainbow Challenge' on the... Read more
E-commerce to boost fight against COVID-19: GlobalData
Data analytics company GlobaData says, e-commerce is playing a critical role in the fight again... Read more
Albini Group develops new anti-viral fabrics
Albini Group, best known as a dress shirt fabric supplier to companies including Kering, Armani... Read more
Asics increases focus on digital sales
To counter falling sales, Asics has increased its focus on digital sales and also sped up its p... Read more
BGMEA to blacklist EWM for non-payment of dues
BGMEA plans to blacklist British clothing retailer Edinburgh Woollen Mill (EWM) in Bangladesh f... Read more
COVID-19 hinders RCEP trade negotiations: Moody’s
Moody’s Investors Service, in its latest Global Trade Monitor report has, stated COVID-19... Read more
Asics increases focus on digital sales
To counter falling sales, Asics has increased its focus on digital sales and also sped up its p... Read more
BGMEA to blacklist EWM for non-payment of dues
BGMEA plans to blacklist British clothing retailer Edinburgh Woollen Mill (EWM) in Bangladesh f... Read more
COVID-19 hinders RCEP trade negotiations: Moody’s
Moody’s Investors Service, in its latest Global Trade Monitor report has, stated COVID-19... Read more
US brands Columbia, Lululemon, TJX reopen stores
Several renowned brands in the US are reopening stores as lockdown rules are relaxed. After Col... Read more
Informa postpones Magic Trade Show to September
Organised by Informa Markets Fashion, the Magic Las Vegas Marketplace—which also houses o... Read more
Lack of orders forces BGMEA, BKMEA to close 419 RMG factories
Around 419 RMG factories in Bangladesh have remained closed for the last two months as the glob... Read more