SIMA upholds extension of term loan moratorium period for the apparel indus…
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 challenges
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
Global denim industry to be more creative and sustainable post- COVID-19
As businesses remain shut and balance sheets get stressed, the pace at which the denim industry is trying to develop a sustainable supply chain is slowing down. This is mainly because the crisis has generated extreme contraction in product consumption which has led to a decline in investments in sustainability, says Lu... Read more
Closed stores and slow legal systems makes bankruptcy challenging for retai…
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
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
It’s back to business for fashion retailers as dust over COVID-19 begins to…
As the dust over COVID-19 begins to settle down, fashion retailers, who buckled out of business or downsized considerably some like Warehouse, UK, Oasis, Cath Kidston, Laura Ashley, John Lewis, and others declared themselves bankrupt and many others like Debenhams, Arcadia Group, JCPenney, Nordstrom, J Crew, are itchin... 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
It’s time for the fashion industry to get personal
Even before the spread of COVID-19, the fashion industry was facing an existential crisis due to its obsession with fantasy and exclusivity. Now, as health experts warn of a the second wave of the virus, many fashion players are yet to make plans to deal with the pandemic, though some have been replacing physical shows... Read more
Personal wellbeing products to be the key to tap luxe consumers post COVID-…
The ongoing pandemic has turned Maslow’s Hierarchy of Needs upside down as shopping has shifted toward basics with many affluent experiencing online grocery shopping for the first time. An Affluent Perspective (AP) survey conducted by YouGov in early April reveals, for the first time these high net worth consumer... Read more
Speed, flexibility will be prime focus for sourcing post COVID-19: Study
Year 2020 may prove to be one of the worst years for the fashion industry as consumers cut down on their discretionary expenses and focus on essential shopping. As a report titled ‘Time for Change’ by McKinsey & Company created in collaboration with Sourcing Journal notes, revenues for apparel and footw... Read more
UK retailers find creative ways to clear unsold stocks
Excess unsold stock has become a multibillion-pound problem for fashion retailers whose trade is fast decimating as they are left with pounds of unsold spring and summer stock in their warehouses. Last week, UK-based brand Next recorded a steep decline in sales as more stocks are clogging up in its warehouses than was ... Read more
Apparel manufacturers will tap more local opportunities post COVID-19
In the next 12 months, COVID-19 will overhaul the complete design, development, sourcing and manufacturing of clothes. As Jag Gill, CEO of Sundar, notes in an article in WWD, the pandemic will localize apparel manufacturing with large entities taking over Tier II and III suppliers. The diversity of supplier chain partn... Read more
New sales models, discounts, digital fashion to reign post COVID-19 market:…
Even before COVID-19 disrupted financial markets, fashion industry leaders were already on a high alert. And the latest ‘The State of Fashion 2020’ report suggests, future outlook has gotten dramatically and suddenly bleaker as the average market capitalisation of apparel, fashion and luxury players has dro... Read more
Raw material focus, credit infusion will help India reclaim lost textile gl…
The advent of technology has rendered millions of artisans in the sector jobless with most of their their skills becoming outdated. COVID-19 has further compounded this problem with the crisis likely to render around one lakh workers in the industry jobless, estimates CMAI. Once famed across the globe as ‘artisan... Read more
Going local will be the buzzword as the pandemic curbs travel, consumption
Lockdowns due to the COVID 19 health crisis have exposed cracks in the system. Post the pandemic, efforts to rein in global sourcing and marketing strategies will accelerate as the pandemic will unleash lasting curbs on travel, large gatherings and roving consumption. As Professor Bruno-Roland Bernard, at Institut Fran... Read more
COVID-19 to test fashion companies’ resilience, sustainability initiatives
In their new report titled, ‘Weaving a Better Future: Rebuilding a More Sustainable Fashion Industry After COVID-19,’ Boston Consulting Group (BCG) and technology company Higg Co lay out a framework for a phased rebuilding of the fashion industry that elevates the role of social and environmental commitment... Read more
Post COVID 19, China’s luxury industry to be more customer-centric
The pandemic has hugely impacted the luxury fashion industry. Brands that produced perfumes and scarves are now making hand sanitizers and masks. Luxury brands like Ralph Lauren & Louis Vuitton are making hospital gowns to be donated to frontline medical workers. Therefore, luxury fashion sales in the first quarte... Read more
Micro orders, supply chain consolidation to help brands reduce China depend…
As countries across the world battle with the ongoing COVID-19 pandemic, the idea of a relying on a single market far from home is being seen by many as an untenable risk. Though the global fashion industry spent most of the past decade trying to break away from its dependence on Chinese manufacturing, little progress ... Read more
CONVID-19 threatens to sink American top department stores
Worst affected by the Coronavirus pandemic, the lifeboat of American department stores is fast sinking with some of the biggest names planning to file for bankruptcy. Foremost amongst these is JC Penney, the retailer which skipped a mid-April interest payment. The pandemic has sidelined many of the brand’s turnar... Read more
Problem of excess merchandize awaits global fashion sector post COVID-19
When the COVID-19 crisis finally ends, the next big challenge for the industry would be to dispose off unsold inventory particularly the spring/summer merchandize that currently waits in factories, distribution warehouses distribution centres, in the port-side storage and the shuttered brick and mortar stores. This pr... Read more
Declining prices, falling orders threaten Indian cotton yarn mills
When Prime Minister Narendra Modi extended the nationwide lockdown till May 3, most of cotton mills in India were shut down. However, the government allowed some spinners in Uttar Pradesh, Gujarat, and Punjab to resume production. A small number of spinners resumed work with operating rate ranging between 10 to 50 per ... Read more
Comfort over fashion scores as loungewear becomes new dressing norm
As the work from home culture grows across the world, Fashion Snoops women’s wear editor and head of intimates and loungewear Patricia Maeda and Nia Silva, Fashion Snoops’ materials editor, expect a few key apparel trends to wash over the loungewear and intimates categories in the next 18 months. As per th... Read more
LEADERS SPEAK
“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
“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
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
India’s Textile Ministry ropes IIT to address action plans for the industry
The textiles ministry has roped in the Indian Institutes of Technology (IIT) to address both immediate and medium term action plans for the industry in the post-COVID-19 ... Read more
Mimaki USA launches new Mimaki 3DGD-1800 system
Wide-format inkjet printer and cutter manufacturer Mimaki USA, an operating entity of Mimaki Engineering in Japan, is expanding its existing 3D printer offering with the ... Read more
Hikari Sewing Machines: Arguably one of the most promising brands in its competi…
A sewing machine brand, Hikari has recorded great achievements in new technologies and automation. Two of its products have been widely imitated by other companies in the... Read more
Ramsons: Offering the design & manufacture of “Apparel Production” equipment…
For over 60 years, Ramsons has been a pioneer in the design and manufacture of “apparel production” equipment. The company provides technology solutions and i... Read more
Recycling to gain popularity as brands focus on sustainability
A totally indigenous company, Pioneer Udyog has been participating in the GTE exhibition for the last eight years. The company has gained recognition as the noteworthy ma... 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
CHINA INSIGHTS
Contributed by Mr. Zhao Hong & Ms. Xing Rong
China’s e-commerce report for Textiles and Apparel 2019 showed stable growth
In the pre Corona period, statistics show 2019 as an year of continued growth in textiles ... Read more
Medical nonwovens come to rescue for China’s textile economy in the first quarte…
Xiantao city which is known as “China Famous Town of Nonwovens”, has over 300 ... Read more
Amazon to buy JC Penney
Amazon plans to take over collapsed US department-store giant JC Penney in a move that could re... Read more
Gap rolls out more robots in warehouses
Apparel chain Gap Inc is speeding the rollout of robots in its warehouses for assembling online... Read more
Movement curbs make order execution difficult for Indian firms
According to Garment Exporters & Manufacturers Association (GEMA), curbs in inter-state mov... Read more
Deckers Brands posts 4.9% decline in Q4 sales
Deckers Brands, a designer of innovative footwear and apparel, posted 4.9 per cent sales declin... Read more
Industry leaders urge M&S to broaden customer base
Marks & Spencer’s long-awaited move to add third-party clothing and home brands to it... Read more
Post COVID-19 industry to shift to conscious consumption: Experts
During Fashion Snoops’ ‘Making sustainability the new normal’ discussion last... Read more
L Brands’ revenues decline by 37.1 per cent
Revenues of L Brands the Columbus, Ohio-based owner of Victoria’s Secret and Bath & B... Read more
US online apparel sales grow 98.4 per cent
Recent data from eShopWorld shows, April’s year-over-year apparel orders in the US grew b... Read more
Around 25,000 retail stores to close in 2020: Coresight Research
John Harmon, Senior Aanalyst at Coresight Research in a recent webinar hosted by Planalytics re... Read more
India’s apparel industry ready to play a key role in global PPE market: AEP…
The AEPC has said, India’s apparel industry is prepared to play a key role in the global ... Read more
Texcare International postponed to November 2021
Due to the economic situation caused by the global pandemic and travel restrictions, Messe Fran... Read more
Parisian trade show Tranoï seeks partners
The crisis caused by the Covid-19 pandemic is compelling long-established and internationally r... Read more
Target Corp’s Q1 sales grow 10.8 per cent
Comparable sales of US-based retailer Target Corporation grew by 10.8 per cent in the first-qua... Read more
CCI procures record 92 lakh bales of cotton
The Cotton Corporation of India (CCI) has procured a record 92 lakh bales from cotton growing r... Read more
Brazilian textile industry launches new campaign
With the pandemic and social isolation, Abit (Brazilian Association of the Textile and Clothing... Read more
Strong balance sheet and liquidity boost Coat’s future outlook
Despite the challenges faced by the company due to COVID-19, Coats Digital, the world’s l... Read more
Kohl's Corporation Q1 revenue falls 40 per cent
Kohl’s Corporation, a leading omnichannel retailer, reported 40.6 per cent decline in its... Read more
Hanes Brands declares 15 per cent quarterly dividend
The board of directors at Hanes Brands has declared a regular quarterly cash dividend of 15 cen... Read more
India refuses to agree WTO tariff concessions
India has refused to agree to permanent tariff concessions on health and farm products at the W... Read more
Vastra App secures funding for product development
Vastra App run by Ahmedabad-based Charmeuse Technologies raised an undisclosed amount in an ang... Read more
Masks from leftover fabrics to help brands boost sales
In addition to slowing sales and supply chain disruptions, backlogged inventory has been one of... Read more
Cotton Council International to use Higg Index
Cotton Council International (CCI) will use Sustainable Apparel Coalition’s sustainabilit... Read more
Shopping app Mallzee launches clothing boxes for unsold stock
Edinburgh-based shopping app Mallzee has launched Lost Stock clothing boxes to tackle fast fash... Read more
Brands sue investment firms for breach of contracts
In the US, Mirae Asset Global Investment is pleading that Anbang Insurance Group breached the t... Read more
Marquee Brands to take back BCBGMAXAZRIA licenses
Marquee Brands LLC, a leading global brand owner, marketing and media company plans to take bac... Read more
Global corporations urge governments to align economic aid with climate act…
More than 150 global corporations, including Burberry, H&M, Zara owner Inditex, PVH Corp si... Read more
German footwear maker Casa Everz Gmbh to shift production to India
Casa Everz Gmbh, the owner of Germany-based healthy footwear brand Von Wellx, will shift its en... Read more
COVID-19 makes US wedding rental market uncertain
Post COVID-19, the growth of wedding rental market in the US seems uncertain. Rent the Runway, ... Read more
PVH Corp plans phased reopening of stores
PVH Corp, owner of a portfolio of iconic brands including Tommy Hilfiger and Calvin Klein plans... Read more
Mumbai’s GMWA to set up textile, apparel park in Kutch
Garments Manufacturer Welfare Association (GMWA), an organisation of around 750 garments manufa... Read more
BKMEA demands incentives on local and imported raw materials
Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) in its budget proposals has... Read more
Prada partners with Sprinlklr
To reinforce a digital culture within the Prada Group and improve its customer relations, the I... Read more
British Fashion Council funds UK businesses
British Fashion Council (BFC) is supporting creative fashion businesses and individuals across ... Read more
Asian factories suffer as brands cancel orders
As stores closed across Europe and the United States in March and April in response to the new ... Read more
Fartech reports 90% rise in profits
Online luxury retailer Fartech reported a growth of 90.4 per cent rise in its revenue for Q4 20... Read more
Asics invests in Seevix Material Science
Asics Corp.’s investment subsidiary, Asics Ventures, has invested in Seevix Material Scie... Read more
Nigeria targets N5.089 billion investment
The Nigerian government is targeting N 5.089 billion from the partnership with the private sect... Read more
JC Penney to close 242 stores
JC Penney, which filed for bankruptcy protection on Friday, plans to close 242, or 29 percent, ... Read more
COVID-19: Store closures impact Sequential’s Q1 results
Sequential Brands Group’s first-quarter results were impacted by store closures due to th... Read more
AATCC to hold textile testing workshop
AATCC (the American Association of Textile Chemists and Colorists) is set to host a Textile Tes... Read more