"Year 2019 promises to be that of change in the world of men’s fashion. Events like high-profile label hookups, industry shakeups, and a focus on sustainability will rattle the Richter scale for menswear for the next 12 months with several brands igniting trends, change and quite probably a purchase or two."
Year 2019 promises to be that of change in the world of men’s fashion. Events like high-profile label hookups, industry shakeups, and a focus on sustainability will rattle the Richter scale for menswear for the next 12 months with several brands igniting trends, change and quite probably a purchase or two.
Christopher Raeburn plans to... Read more
"The ‘State of Fashion Report’, co-published by McKinsey & Company and Business of Fashion, dubs 2019 as a year of awakening as companies will pioneer new innovations in automation and AI, disrupting themselves before others do it for them. The report 10 key trends that will define the fashion agenda in 2019 includes: Worsening economic conditions: According to McKinsey, the uncertainty that."
The ‘State of Fashion Report’, co-published by McKinsey & Company and Business of Fashion, dubs 2019 as a year of awakening as companies will pioneer new innovations in automation and AI, disrupting themselves before others do it for them. Th... Read more
Nike and Adidas have an ongoing battle for footwear supremacy. Nike is the larger business overall and the market leader in the global sports footwear industry with revenues from footwear of over $24.2 billion in 2018, compared to Adidas footwear revenue of $15 billion. These figures include not only Nike and Adidas branded footwear but also Converse (owned by Nike) and Reebok (owned by Adidas). Nike might be the bigger company but through sponsorship and an improving cool factor, Adidas is closing the gap. Since 2015 Adidas footwear has been growing at an average rate of 17.6 per cent whereas Nike footwear has been growing at an average rate of 6.8 per cent.
Nike’... Read more
"Conventional textile printing is giving way to digital printing inorder to accommodate short runs, fast turnarounds, or new products. The market is supported by a complex and well-established textile supply chain, of which printers are only a very small component. Commercial printers therefore, need to focus on more accessible textile segments similar to applications they already produce, such as textile-based sign and display graphics and direct-to-garment (DTG)."
Conventional textile printing is giving way to digital printing inorder to accommodate short runs, fast turnarounds, or new products. The market is supported by a complex and well-established textile ... Read more
"With its inherent properties of breathability, insulation, anti-allergenic and odor control complementing new technologies, Cotton is setting its sights on the performance sector. In the sports and outdoor market, conventional cotton can’t compete with synthetic garments as it cannot manage moisture across its surface on being wet. This is now being addressed, with R&D focused on spinning technology and innovative finishes. Another allegation made by the advocates of synthetics is that cotton isn’t as environmentally friendly as it appears and requires massive amount of water, chemicals and arable land to grow."
With its inherent properties ... Read more
"Bolt Threads’ recently entered into a collaboration with Ecovative for growing faux animal leather from mycelium, mushrooms’ underground root structure. They grow the cells with other nutrients in corn stalk beds, compressing the structure into a two-dimensional material, and then tanning it with English breakfast tea instead of caustic chemicals. It takes 10 days to grow Mylo, unlike the years it takes to raise a cow. The leather-like slab is cut into thinner pieces, giving a supple feel. The material is biodegradable. "
Bolt Threads’ recently entered into a collaboration with Ecovative for growing faux animal leather from mycelium, mushrooms&... Read more
"The fast-pace of our modern life makes it increasingly difficult to sustain the life of our garments even after producing them in the most environmentally friendly manner as possible. They end up in the garbage dumps quickly. For a long time, the industry has been greatly impacted by this use and disposal of clothing. A paper by WRAP suggests if consumers use their clothes for even nine months longer, they can reduce their footprint by around 20 to 30 percent."
The fast-pace of our modern life makes it increasingly difficult to sustain the life of our garments even after producing them in the most environmentally friendly manner as possible. They end up in the g... Read more
"As per the US Bureau of Labor Statistics, retail apparel prices, following months of rise, fell to a seasonally adjusted 0.9 per cent in November. The prices, compared to year earlier, declined by around 0.4 per cent. Now some of these retailers expect prices to increase as cotton prices spiked by $1 per pound in June only to level off at around a current 75 cents a pound. According to Cotton Incorporated, average import prices for cotton-dominant apparel increased 0.9 per cent month-over-month in October. Year-over-year, cotton-dominant apparel import prices were 2.7 percent higher."
As per the US Bureau of Labor Statistics, retail apparel prices, following mon... Read more
"Blockchain technology is paving its path into the cotton market. This technology makes transactions and contracts simpler and tracing more accurate. But, the questions of reliability, scalability and governance of this revolutionary technology need to be answered before it is at a bigger scale. In October 2016, the Wells Fargo and Commonwealth Bank of Australia used blockchain technology to process and execute a cotton shipment worth $35,000 from Texas to Qingdao, China."
Blockchain technology is paving its path into the cotton market. This technology makes transactions and contracts simpler and tracing more accurate. But, the questions of reliability, scalabili... Read more
"As the fashion industry moves towards size-inclusivity and sustainable practices, consumers are still facing issues with ‘one size fits all body types’. To cater to individual needs new made-to-measure business model will be the trend in future. Fashion brands are tailoring each garment to customer's size, body type and — in some cases — style preference. Businesses, such as Zozo and Red Thread, are using mobile technology to acquire a 3-D body scan for an accurately-sized garment, while others like Olivia Rose The Label -make their pieces, taking individual measurements and aesthetics into account."
As the fashion industry moves towards ... Read more
"A growing phenomenon-- RPTN -- refers to geographically proximate countries forming a regional supply chain. Deepening of this RPTN increases the concentration of world textile and apparel exports. In general, three primary textile and apparel regional supply chains operate in the world today. Asian supply chain. Here, economically advanced Asian countries such asJapan, South Korea, China and Indiasupply textile raw material to the less economically developed countries such as Bangladesh, Cambodia, and Vietnam."
A growing phenomenon-- RPTN -- refers to geographically proximate countries forming a regional supply chain. Deepening of this RPTN increases the c... Read more
"A major upheaval in the fashion and fashion related businesses in the past few years and a cooling economy is likely to restrict consumer spending this year. This could be further aggravated by the growing trade war between US and China that began last summer when the Trump administration levied a 10 percent tariff on $200 billion worth of goods coming from China. Paula Rosenblum, Managing Partner for market researchers RSR Research views if the trade war continues the prices of low-end and moderately-priced products will increase significantly and the impact of this price-rise will be swift."
A major upheaval in the fashion and fashion related businesses in the... Read more
World production of all fibers rose to 111 million metric tons in 2018, a one- year increase of four million tons, and a rise over the past decade of 35 million tons. Of the world total, natural fibers accounted for 32 million tons in 2018, an increase of less than two million tons in 10 years. The share of natural fibers in world fiber production fell from 41 per cent in 2008 to less than 30 per cent in 2018. World production of synthetic filament is 50 million tons; of this polyester filament alone is about 45 million tons. Synthetic staple production is 22 million tons, and production of cellulosic fibers is seven million tons. Cotton production in 2017-18 is estim... Read more
"Though, a recent survey by UN initiative Better Factories Cambodia (BFC) indicates improving conditions in the country’s garment factories, human rights violations demand new mechanisms for accountability and transparency in these companies. Hun Sen government and the international race to search the cheapest labor, have created an economy that forces Cambodians, especially women, to rely on these low-paying jobs that still expose them to rights violations.It’s crucial that the government, garment industry corporations and international allies support the Cambodian people in pushing for transparency, accountability and better conditions."
Though, a r... Read more
The trade war between the US and China has opened up a big opportunity for India to increase exports of manmade textiles. India’s manmade fiber exports have been stagnating for the past four years. Exports grew by a marginal 1.9 per cent in fiscal ’19. The trade war has opened up an opportunity, which can help stagnant exports grow by ten per cent to 12 per cent in one-and-half years. On the other hand, China exports $7 billion worth of manmade textiles to the US. Even if India manages to grab a portion of these exports, and manage to grow by ten per cent, the $6 billion manmade textile exports can move up to $6.6 billion. However to do this the industry nee... Read more
"A new report titled, “Activewear Market by Product and Fabric: Global Opportunity Analysis and Industry Forecast, 2017-2024,” by Allied Market Research reveals, the global activewear market, currently valued at $351,164 million in 2017, is expected to reach $546,802 million by 2024."
A new report titled, “Activewear Market by Product and Fabric: Global Opportunity Analysis and Industry Forecast, 2017-2024,” by Allied Market Research reveals, the global activewear market, currently valued at $351,164 million in 2017, is expected to reach $546,802 million by 2024.
Growth in demand has led to several innovations in the segment, especially i... Read more
With China becoming health conscious the country has over 37,000 fitness facilities. A recent wellness trends report published by the Global Wellness Summit notes over 104 million Chinese have at least one fitness app on their phones while another five million have a gym membership. The country, home to approximately 500 gyms in 2001, currently boasts of over 37,000 fitness facilities. This includes several international franchises and specialized gyms.
Various governmentincentives also boosts this growing fitness trend in the country. The State Council had introduced the Healthy China 2030 initiative in 2018. Through this plan, the Chinese government hopes to engage 700... Read more
"Technology is changing the way fashion functions as tech companies including Google are partnering groundbreaking fashion projects. A case in point is Levi’s smart jacket, a project implemented in collaboration with Google. Computers allow modern designers to create new patterns and styles compared to old tools. But computing does not mean a laptop or desktop running windows new CAD software but machine learning and the use of AI to create a new era for the fashion industry. It is possible to use and mix styles with innovative materials such as bioengineered textiles and leather made from microbes."
Technology is changing the way fashion functions as tech ... Read more
"To discover how satisfied professionals working within the fashion industry are with their jobs, Business of Fashion surveyed over 1,400 fashion professionals and further analysed a sample set of 418 respondents — working in the UK, the US, France, Italy and Germany. The survey showed, majority of fashion industry is satisfied with their jobs, with 54 per cent respondents classifying themselves as such. Indeed, in line with these statistics, almost a fifth of individuals working in the industry — a full 19 per cent — are very satisfied with their job. However, over 20 per cent of those surveyed were actively dissatisfied with their employment, with 7 pe... Read more
"Biofabrication is changing the way clothes are made with four companies leading the revolution. At the helm of is AMSilk which uses genetically engineered bacteria to get around that problem. The company recently launched its first product made with spider silk — a luxury watch strap. It is working on several other products using the spider silk fibers, including biodegradable sneakers for Adidas."
Biofabrication is changing the way clothes are made with four companies leading the revolution. At the helm of is AMSilk which uses genetically engineered bacteria to get around that problem. The company recently launched its first product made with spider silk ... Read more
"A survey by Bain & Company reveals, millennials, who make up one-third of China’s total consumers, were responsible for a growth in the Chinese market to 142 billion yuan in sales in 2017, about 20 per cent higher than the year before. Millennials are the generation born between in the early 1980s and early 2000s. In China, millennials comprise two distinct groups: those born after 1980 and those born after 1990. These millennials are referred to as the single most important demographic on the planet today by Goldman Sachs. Some luxe brands have caught the attention of millennial customers."
A survey by Bain & Company reveals, millennials, who make... Read more
"A number of brands will actively engage themselves in improving their eco-footprint in 2019. Younger consumers will align themselves with businesses that support their values. This includes tracing the origin of products, its manufacturing technique and impact on environment. Recycled fashion will become more popular, with major brands starting to offer recycled (second-hand) clothing, as they keep up with the demand for more sustainable and conscientious practices."
According to predictions by Immago, the top five emerging trends for 2019 are:
Growing emphasis on sustainability
A number of brands will actively engage themselves in improving their eco-footprin... Read more
"The European Union and Vietnam are moving closer to clinching the Europe-Vietnam Free Trade Agreement (EVFTA) after nearly seven years of negotiations. The long-sought deal will boost Vietnam’s economic growth by nearly 8 per cent by 2025. As per the terms of the deal, Vietnam’s ruling Communist Party will accept certain liberalising reforms, namely those related to labor rights and environmental policies."
The European Union and Vietnam are moving closer to clinching the Europe-Vietnam Free Trade Agreement (EVFTA) after nearly seven years of negotiations. The long-sought deal will boost Vietnam’s economic growth by nearly 8 per cent by 2025. A... Read more
"The axes of global trade are shifting, amid a surge in commerce between emerging economies in the global South. The dynamics may lead to a rethinking of sourcing and pricing strategies in the year ahead. That’s why “Trade 2.0” is one of the 10 big trends to watch out for in 2019 reveals the McKinsey’s latest ‘State of Fashion’ report, written in partnership with the Business of Fashion (BoF). As 2019 begins, fashion companies find themselves in a crosscurrent of trade-related news flow."
Recent talk of trade shifts between the United States and some of its key trading partners has brought forth the inherent sensitivity of fash... Read more
"Chinas’ home textile industry, during the first 11 months of 2018, maintained a steady growth rate. National Bureau of Statistics claims, around 1,861 home textile companies achieved total revenue of 193.302 billion yuan during January-November 2018, a year-on-year increase of 3.78 per cent and a decrease of 0.82 percentage point over the same period previous year."
Chinas’ home textile industry, during the first 11 months of 2018, maintained a steady growth rate. National Bureau of Statistics claims, around 1,861 home textile companies achieved total revenue of 193.302 billion yuan during January-November 2018, a year-on-year increase of 3.78 per ce... Read more
"The International Labor Rights Forum’s new paper, ‘Future of Fashion: Worker-Led Strategies for Corporate Accountability in the Global Apparel Industry,’ highlights corporate social responsibility (CSR) and multi-stakeholder initiatives have failed to address and remedy the persistent exploitation of millions of apparel industry workers. The eight-storey Bangladeshi Rana Plaza collapsed on the April 24, 2013, killing at least 1,134 apparel workers and leaving 2,500 others injured. Unfortunately, this is not an anomaly in the global apparel industry. "
The International Labor Rights Forum’s new paper, ‘Future of Fashion: Worker-Led S... Read more
"One of the most popular types of clothing around the world, denim is also one of environmentally hazardous garments. A case in point is the river delta in China whose water turned blue from the washing of jeans from thenearby denim factories. Lately, many brands trying to arrive at a common consensus on the issue of sustainability. Individual companies are spending on safety and sustainability certifications, like the Higg Index, Cradle to Cradle, or ISO 9000. However, there’s still no high-level awareness or data collection on the industry as a whole as every company and manufacturer has different standards. Levi's has separate requirements for a denim produc... Read more
"Even as joggers and leggings have emerged as the top fashion bottom worldwide, the classic appeal of jeans along with new styles continues to attract consumers. A top reason for this is the addition of stretch to both men’s and women’s jeans. And Marshal Cohen, Chief Industry Advisor, NPD Group credits stretch with boosting the sales of women’s denim by 5 per cent to $16.4 billion in the year ending July 2018. Between 2011 and 2017, the percentage of denim jeans that contained stretch in the US increased from 44 to 75 per cent, according to Cotton Incorporated’s Retail and Lifestyle Monitor™ surveys. In China, the percentage increased from 2... Read more
The rapid deterioration of relations with the US has caught Chinese businesses off guard. Many companies find it difficult to shoulder the huge additional costs and lack viable options to immediately modify their supply chains. Some export industries in China will be hit harder than others with electronics, computer circuit boards, computer parts, furniture, floor coverings and automotive parts disproportionately burdened by the increased tariffs. The US has increased tariffs on $200 billion worth of Chinese products from 10 to 25 per cent. Many businesses in China are already struggling to stay afloat since the US imposed 10 per cent tariffs in September last year. The... Read more
"With denim becoming the hottest selling product, brands like Levi’s and Madewell reported strong sales in the past quarter. Proving its sustainability over time, the global denim jeans market is predicted to reach $57.6bn by 2023. Edited, the most strategic tool for retail teams worldwide, uses AI and data to future retail trends. This price and discount over time tool helps brands to smarten up their denim assortment by understanding pricing trajectory across time, spotting the ramping up of cooling off of denim trends and anaylsing discount periods over time to detect the health of your category vs. competitors."
With denim becoming the hottest selling p... Read more
In 2018 US textile and clothing imports rose in value terms to their second highest level on record and in volume terms to a record high. Within 2018 total, imports of fabrics, made-up textiles and apparel reached record highs in volume terms. Apparel continued to account for the biggest share of total imports. However, its share was down to its lowest level in several years. By contrast, there were significant increases in the shares of yarns, fabrics and made-up textiles. Meanwhile, the average price of US textile and clothing imports fell for the seventh year in succession to a record low—reflecting primarily a decline in the average price of imports from China. ... Read more
"A Nielsen study conducted eight years ago showed that Indian consumers are becoming increasingly conscious of environment-friendly fashion practices. Groups like the Worker Diaries, that advocate the welfare of workers in the region and Fashion Revolution India, which pushes for sustainable and ethical practices in fashion, are making ethical and sustainable issues more visible."
A Nielsen study conducted eight years ago showed that Indian consumers are becoming increasingly conscious of environment-friendly fashion practices. Groups like the Worker Diaries, that advocate the welfare of workers in the region and Fashion Revolution India, which pushes for sustain... Read more
"Accounting for 47 per cent of the total value in Top 50 Most Valuable French Brands 2019 ranking, the luxury sector demonstrates the powerful position of traditional fashion houses within the country's corporate landscape. The rankings, released by WPP and Kantar, boasts of six new entries along with legendary brands Louis Vuitton, in the first position, Chanel at second and Hermes third. The new entries include: Céline at the 38 position, Van Cleef & Arpels 43rd , Vichy at 41st , Tefal on 46th Carte D’Or on 44th and Maisons Du Monde on the 49th position."
Accounting for 47 per cent of the total value in Top 50 Most Valuable French Brands 2019 r... Read more
"Apparel retailers are embracing advanced analytics and blending intuition with science to regain control and price smarter. This has brought about a margin and sales lift of three to six percentage points for some companies. Pricing smarter requires understanding where customers perceive value and having the agility to respond to competitors’ moves with full insight into the impact on financial performance. Industry leaders are investing carefully in price and promotion, as well as leveraging insights from advanced analytics to make smart decisions."
Apparel retailers are embracing advanced analytics and blending intuition with science to regain control an... Read more
"It all began a year ago with the US administration, under the leadership of President Donald Trump, imposing a 25 per cent tariff on 818 categories of goods imported from China. This move further escalated into a major bilateral trade war between these two economic superpowers. Since then, US-based brands relying on Chinese manufacturing have seen their products cost escalating and profit margins declining, making it difficult for them to survive in the competitive market. As the latest quarterly survey of more than 150 global businesses by the Hong Kong-based QIMA supply chain audit and inspection service reveals, over three quarters of US respondents say they have been... Read more
In order to achieve its ambitious target of $8 billion worth of exports by 2025, Sri Lankan apparel sector is looking to first upscale access in emerging markets such as India, China and Brazil. The country will differentiate its products with quality standards and excellent product delivery to capture global demand. The apparel industry, which contributes 7 per cent of GDP (Gross Domestic Product) and 53 per cent of export earnings, plans to expand its operations to South Asian countries such as India and China and to South America. Apparel exports, last year, grew by 5 per cent; while this year it is expected to grow at an annual compound growth rate of over 6 per cent.... Read more
Denim manufacturing firms are making major investments in factories from the US to China to meet market demands and improve their environmental footprint.
Curbing excess use of water
A new textile maker, Vidalia Denim recently opened in a 900,000 sq. ft. facility in Vidalia, La., in the Mississippi Delta region. To employ over 300 full-time workers to make denim, this mill will be fully commercially operational in the first quarter of 2019. Its indigo dye technology will curb total water usage by more than 60 per cent compared to a legacy mill. The brand will also use e3 sustainable cotton exclusively in its operations, sourcing its cotton from across the U.S. farm belt... Read more
Competition in the $60 billion global jeans market is heating up with major denim brands chalking out robust expansion plans. While Levi Strauss & Co. is going for an Initial Public Offering (IPO) to raise about $587 million, VF Corp plans to hive-off Wrangler and Lee into new entity Kontoor Brands. Gap and Old Navy also plan to demerge into two separate public companies to increase their market share. With mounting pressure from the Wall Street to increase volumes, these initiatives will generate fresh funds for expansion.
Fresh funds to fuel expansion
The Levi’s IPO, through which the company aims to raise up to $587 million, provides funds for retail, categ... Read more
"Although the previous year was characterised by cautious optimism , various indicators in 2019 point to several factors that could dampen global economic-growth prospects. Global growth has averaged above 2.5 per cent since the financial crisis but now there are signs of stability. After a long period of accommodative monetary policy, the US Federal Reserve and other central banks have begun to raise interest rates, increasing the cost of borrowing for many companies and consumers. "
Although the previous year was characterised by cautious optimism , various indicators in 2019 point to several factors that could dampen global economic-growth prospects. Global gr... Read more
"Year 2018 was a landmark in the history of global apparel manufacturing as China’s dominance declined due to rising labor costs, slower economy and the government’s desire to decrease exports and increase production for domestic consumption. However, China will continue to remain top supplier to the US for some time even though growth would be limited to single digits instead of high-single digit or double digit annual percentages."
Year 2018 was a landmark in the history of global apparel manufacturing as China’s dominance declined due to rising labor costs, slower economy and the government’s desire to decrease exports and increase prod... Read more
"Designers today are equipped with the right mindset and tools to face the rapidly changing manufacturing and retail landscapes. In a panel discussion at Sourcing at Magic in Las Vegas recently, experts set out to further streamline some of the sector’s confusion. The panel titled, “Fashion Design Is All About Tech and Innovation,” moderated by Fashion For Profit President Frances Harder, denim design and fit experts urged designers to use technology to create ways to overcome the denim industry’s biggest hurdles, including sustainability, on-demand manufacturing and performance fabrics."
Designers today are equipped with the right mindset... Read more
China is exporting textiles to India through Bangladesh to evade import tax, undermining New Delhi’s efforts to support local manufacturers. Earlier this week, India doubled the import tax on more than 300 textile products to 20 per cent, marking the second tax jolt on textiles in as many months.
This is aimed at providing relief to the country’s domestic textile industry, which has been hit by cheaper imports. Total Indian textile imports increased by 16 per cent to touch a record value of $7 billion in the fiscal year ending March 2018. Of this, about $3 billion were from China alone.
Textiles are India’s second largest job provider directly employin... Read more
"A wardrobe staple today, the blue jean was first created in 1873 by Tailor Jacob Davis and fabric supplier Levi Strauss who were granted a patent to supply their copper-riveted denim cotton bottoms. The jean still remains a favorite amongst customers of all age groups and classes despite the advent of new trends such as athleisure."
A wardrobe staple today, the blue jean was first created in 1873 by Tailor Jacob Davis and fabric supplier Levi Strauss who were granted a patent to supply their copper-riveted denim cotton bottoms. The jean still remains a favorite amongst customers of all age groups and classes despite the advent of new trends such as athleisure.
... Read more
As per the Confederation of Indian Textile Industry (CITI), India’s textiles and apparels exports in the fiscal 2019 grew 1.66 per cent to $35.969 billion as compared to $35.381 billion in the previous fiscal, mainly due to a sharp drop in the shipment of apparels. Export of textiles products grew by 6.19 per cent to $19.830 billion during the fiscal under review as compared to $18.674 billion a year ago. Apparels exports declined by 3.40 per cent to $16.138 billion as against $16.706 billion in the previous financial year
Amongst textile products, cotton yarn/fabrics/made-ups, handloom products continued to be the largest export earner with a growth of 9.22 per ce... Read more
"As per Export Promotion Bureau (EPB) data, in the July-December period of the current FY2018-19, Bangladesh’s apparel shipments to new export destinations like Australia, Brazil, Chile, China, India, Japan, Korea, Mexico, Russia, South Africa and Turkey posted a robust growth of 36.21 per cent in the first half of the current fiscal year, riding mainly on enhanced cash incentive and initiatives of exporters to diversify their markets."
As per Export Promotion Bureau (EPB) data, in the July-December period of the current FY2018-19, Bangladesh’s apparel shipments to new export destinations like Australia, Brazil, Chile, China, India, Japan, Korea, Mexi... Read more
"Recovering from the 2018 turmoil, US apparel imports in January 2019 increased 25 per cent to $7.57 billion. The country again sourced from its traditional markets – China, Vietnam, Bangladesh, India, etc in 2019. It had, in the second half of 2018, shifted its sourcing to nearby destinations of Central and South America. From July 2018, US apparel retailers and buying houses began exploring newer markets to source from. It also sourced a lot of high end apparels from Europe. And Ethiopia’s exports to US are witnessing a robust increase."
Recovering from the 2018 turmoil, US apparel imports in January 2019 increased 25 per cent to $7.57 billion. The ... Read more
Domestic production in the German textile and clothing sectors in October decreased. Textiles fell 3.4 per cent and clothing by 2.7 per cent. Total imports increased over the last 10 months by one per cent against the same period of 2017. Total exports in October increased by 5.6 per cent mainly as a result of the increasing seasonal clothing exports. Import surplus is 8.8 per cent lower than in 2017. The two sectors on an average employ 0.5 per cent less people than in 2017. Clothing has seen a fall of four per cent while textile enterprises employ 1.2 per cent more people. Working hours fell by one per cent against the same period of 2017. Textiles have increased work... Read more
The United States is the number one importer of Indian textile products. The European Union ranks second. While the US has a 17 per cent share of India’s total textile imports, the EU has a 15 per cent share. Global textile and apparel hubs like Bangladesh and China are also in the top five list. The US, the EU and Bangladesh jointly have a share of 42 per cent in India’s total textile exports. Sri Lanka, Brazil, and South Korea figure among the top 10 textile importers from India. India’s textile products face an average tariff of 5.9 per cent and 6.2 per cent in the US and the EU respectively. Bangladesh and Pakistan have nil tariffs on exports to ... Read more
According to Export Promotion Bureau, Bangladesh garment exports to non-traditional market soared by 36.21percent in the first six months of the current fiscal 2018-19 compared to six months of the previous fiscal year. The earnings from exports stood at $ 2.90 billion during this period to new markets compared to $2.13 billion at the same time during last fiscal. The country’s overall exports rose by 8.76 percent to $ 30.61 billion last year while the pace of growth further rose to 15.65 percent or at $ 17.08 billion in first six month of the current fiscal.
Exports to non-traditional markets phenomenally increased in recent time mainly riding on duty free entry o... Read more
The active wear market in the US has changed over the last three years. About $48 billion is being spent on active wear in the US every year. As more consumers in the US are exercising and prioritizing their health, this is fuelling the active wear market for on-trend performance items. Traditional sports brands have grown their assortment. The number of yoga products in stock in 2018 has increased by 35.8 per cent compared to 2016. Yoga leggings skyrocketed by 87 per cent compared to 2017. What was once a simple stretchy legging has become a wardrobe phenomenon. Pricing in the traditional sports market, despite some fluctuations, has generally maintained a consistent... Read more