In the recent past, you have wished and been wished a happy new year. When was the last time someone wished you happy new product? In case you have to stretch your memory about your last new product launch, chances are your products are dated! Let’s take a sock manufacturer as an example. Say, they have been happy with their business as the local market they have been supplying to has been kind to them. Business is steady and profits are healthy. They are unlikely to innovate, presumably somewhat oblivious that they are indeed part of the booming worldwide socks market. As retailers and e-tailers look for fresh new products to woo their customers, this sock manufacturer is likely to take a back seat. On the global scene, the socks market is one of the fastest growing segments of the apparel industry with a compound annual growth rate of 8.5% at present. By 2023, the global socks market is estimated to be worth around the $11.6 billion mark. Specialty socks, athletic s... Read more
Pinakin Chaubal holds Master’s degrees in Management and Textile Engineering. He has been a long time assessor for NATA ISO 17025 laboratory accreditation and has contributed to the review and drafting of several Australian, Joint Australian / New Zealand and International Standards on textiles, clothing and footwear. Global brands like H&M, Zara and most others are getting settled in India at an unprecedented rate. In fact, it’s more a case of who hasn’t entered the zoo, rather than who has. Global selling platforms like amazon.com have been successfully wooing Indian suppliers. Historically price sensitive apparel products like inner ware are moving to brand sensitive categories in the minds of local consumers. Now where does all this leave your product? At the centre stage! In this competitive market, if your product does not take the centre-stage, it will lag, struggle for a while and may eventually suffer from severe competitive arrest. Brand ma... Read more
Industry analysts are concerned as the country’s textile exports surpassed imports. Recently, there has been a growth in textile imports,... Read more
Natural staple fibers are driving this sub-sector within the textile industry as a sea change is being witnessed in terms... Read more
The last Union Budget before the next general election in 2024 has got a mixed reaction from India’s textile and... Read more
One of the world’s largest and most reputed textile industry shows, the three-day Munich Fabric Start that concluded on January... Read more
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The Section 301 Tariffs on American Consumers and US Businesses imposed by the Trump administration in 2018 in response to... Read more
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Shipment of garments from Bangladesh to Russia dropped 47 per cent year on year in the July to December 2022... Read more
The latest Wazir Advisors’ latest ‘Apparel Trade in Key Global Markets and India’, reveals in November 2022, the US imported... Read more
The effect of two-year long pandemic, followed by Russian-Ukraine war and how Western countries are slipping into recession and tightening... Read more