Itema Weaving (India) has appointed Sameer Kulkarni as its Managing Director, marking a significant milestone for the company. With an extensive background spanning decades and a deep expertise in textile weaving, Kulkarni emerges as a seasoned leader in the textile industry. Over his illustrious 28-year career journey, he has assumed various roles, embodying the essence of a textile technocrat and visionary.

Kulkarni commenced his tenure with Itema India in 2012 and has since then been instrumental in steering the company’s growth trajectory. His strategic prowess and industry insight have played a pivotal role in navigating the company through dynamic market landscapes.

With its textile mills garnering global recognition in the weaving segment, Itema aims to strengthen its presence in the Indian subcontinent, targeting the mass market with innovative solutions and unparalleled service standards. The recent leadership transition underscores Itema's dedication to harnessing local talent and fostering a dynamic organizational culture geared for success.

Kulkarni's strategic vision encompasses enhancing after-sales services, bolstering brand equity, and surpassing sales targets. Despite facing challenges inherent in the current market landscape, Itema India exhibited commendable growth and sales figures in the previous fiscal year. Under Kulkarni's stewardship, Itema Weaving (India) is poised to navigate complexities and emerge stronger, solidifying its position as a frontrunner in the weaving industry.

Bangladesh's status as a developing nation will continue to grant it duty-free market access for three additional years beyond its graduation from least-developed country (LDC) status in 2026. 

This decision was finalised during the 13th World Trade Organisation (WTO) Ministerial Conference in Abu Dhabi, where 166 member nations endorsed the extension after intense negotiations lasting over five days.

Originally joining the LDC group in 1975, Bangladesh's impending departure from this classification in November 2026 raised concerns about losing $7 billion annually in trade benefits due to the erosion of preferential trade agreements. 

However, the extension guarantees stability until 2029, providing a crucial buffer for Bangladesh's economy, which was severely impacted by the Covid-19 pandemic and subsequent global crises.

The extension initiative was spearheaded by the LDC group, chaired by Djibouti, which advocated for an additional 12 years of market access for graduating LDCs to mitigate economic shocks. The recent Russia-Ukraine conflict further emphasised the need for sustained support for vulnerable economies.

While the WTO's decision grants relief, it's noteworthy that Bangladesh won't enjoy trade benefits in the US due to the absence of preferential duty programs for LDCs in the country.

Bangladesh's trade landscape heavily relies on LDC-related benefits, with 73 per cent of its exports currently enjoying duty-free access, positioning it as the world's second-largest apparel supplier. The nation stands as the highest beneficiary among 45 LDCs.

However, the extension doesn't address concerns regarding Trade-Related Aspects of Intellectual Property Rights (TRIPs), implying Bangladesh won't benefit from patent waivers for pharmaceutical production post-transition.

Despite the WTO's decision, uncertainties linger regarding whether the European Union will extend benefits beyond the customary three-year grace period typically granted to graduating LDCs. The EU emphasised the importance of enhancing special and differential treatment for all developing countries, signaling a commitment to equitable trade practices.

Bangladesh's can export $42 billion worth of non-cotton garments by 2032 if it invests $18 billion in the segment, says a new study by BGMEA. 

Titled ‘Beyond Cotton: A Strategic Blueprint for Fibre Diversification in Bangladesh Apparel,’ highlights the fact that Bangladesh currently holds the second top position in the global apparel market, predominantly exporting cotton-made garments. However, global trends indicate a shift towards non-cotton fibers, with 78 per cent of total fiber production constituting non-cotton items in the last five years.

The study identifies several challenges hindering Bangladesh's exploitation of its non-cotton potential, including the unavailability of local fabric, technical manpower shortages, dependence on imports, high manufacturing costs, and limited product ranges.

To realise the projected $42 billion worth of non-cotton garment exports by 2032, Bangladesh needs substantial investments across various segments of the supply chain. This includes $4.6 billion in fiber, filament, and yarn manufacturing, $9.2 billion in fabric manufacturing, and $4.2 billion in garment manufacturing.

Faruque Hassan, President, BGMEA emphasises the importance of government support, especially as Bangladesh faces rising production costs and impending graduation from the LDC status in 2026. Hassan advocates for policy incentives to bolster the industry's capacity and competitiveness in the global market.

The study recommends strategic initiatives to propel Bangladesh's non-cotton apparel sector forward, such as establishing special zones for value chain integration, enhancing industry-specific education and training programs, fostering research and development, and promoting collaboration with international players.

Despite challenges, Bangladesh has made strides in non-cotton garment exports, with a 4 per cent increase over the past three years, amounting to $15.6 billion in 2022. However, this pales in comparison to China's $116 billion non-cotton garment exports in the same period.

Moving forward, Bangladesh aims to increase its non-cotton apparel exports to diversify its product portfolio and secure a larger share of the global market. 

VIATT 2024, the inaugural edition of the Vietnam International Trade Fair for Apparel, Textiles, and Textile Technologies (VIATT) concluded, showcased the nation's rapidly expanding textile industry from February 28 to March 1 at the Saigon Exhibition and Convention Center (SECC). Organized by Messe Frankfurt and the Vietnam Trade Promotion Agency (VIETRADE), the event marked a significant milestone for Vietnam, offering a comprehensive platform covering three main product sectors: apparel fabrics, yarns and fibers, and garments; home textiles; as well as technical textiles and nonwovens, textile processing, and printing technology.

The expo, spanning 15,000 square meters, featured over 400 booths from 16 countries and territories worldwide, including the UK, Germany, the US, Switzerland, Japan, the Republic of Korea, China, Thailand, and India. One notable highlight was Vietnam's national brand pavilion, showcasing the strengths of domestic textile and garment brands with products ranging from apparel to home textiles, technical textiles, non-woven fabrics, and textile processing-printing technologies.

Detlef Braun, member of the Executive Board at Messe Frankfurt, emphasized VIATT's role as an event in the company's Texpertise Network, connecting over 500,000 people globally. 

Economic Impact

VIATT 2024 is expected to generate significant export orders for Vietnam's textile industry, further solidifying its position as a key player in the global textile supply chain. Deputy Minister of Industry and Trade of Vietnam Phan Thi Thang, remarked, "Events like VIATT are instrumental in propelling Vietnam's textile sector towards higher-value manufacturing and establishing the country as a reliable and sustainable sourcing destination. Among all current industrial export products, textile and garment is the industry with high export turnover and growth rate and is one of the key export industries, playing an important role in growth. of the economy, accounting for 12 - 16% of the country's total export turnover.”

During the inauguration, it was further highlighted the opportunity VIATT presented for businesses to seek partners, increase localization, meet diverse customer needs, enhance product value, and contribute to the development of Vietnam's textile industry in line with green and sustainable trends worldwide.

Knowledge Sharing and Inspiration

VIATT 2024 went beyond product showcasing by offering a comprehensive program of seminars featuring 14 symposiums where industry experts addressed critical topics such Sustainable Textile Production, The Future of Apparel Manufacturing in Vietnam and Leveraging Technology for Efficiency and Innovation among others, focusing on practical topics such as design and trends, market access strategies, and textile and non-woven fabric technologies. Participating major global brands were set to receive assistance in technology transfer and management experience to contribute to the development of supply chains in Vietnam.

Sustainability Takes Center Stage

The event emphasized sustainability in sourcing and production, with numerous exhibitors highlighting recycled materials and ethical manufacturing practices. VIATT 2024 placed a strong emphasis on sustainability, with over 100 exhibitors showcasing their commitment to sustainable sourcing that included the use of recycled materials and responsible sourcing practices and Ethical manufacturing, like fair labor practices and environmental consciousness were highlighted by many exhibitors.

This resonated strongly with international buyers, as H&M's Lisa Jones, Sourcing Manager, stated, "VIATT provided the ideal platform to connect with Vietnamese suppliers who align with our brand's commitment to sustainability."

The trade show facilitated on-site business deals, contributing to significant export orders for Vietnam's textile industry. VIATT 2024 showcased the country's commitment to sustainable practices, strengthening its position as an attractive sourcing destination in the global textile landscape.  Nguyen Thi Mai, Director of a leading Vietnamese garment manufacturer, expressed satisfaction with Vietnam's growing reputation as a reliable and quality-conscious producer. International sourcing managers, such as one from a major European fashion label, commended VIATT as a platform aligning with their brand's sustainability goals.

Fashion Forward

The event culminated in a spectacular fashion show featuring the latest collections from renowned Vietnamese designers like Nguyen Minh Phuc and Tran Quynh Nhu. This showcase not only highlighted the creativity and talent within Vietnam's fashion scene but also served as a testament to the country's growing potential in the global fashion industry.

Looking Ahead

The success of VIATT 2024 signifies resurgence in Vietnam's textile industry, reflecting its growing global appeal, commitment to innovation and sustainability, and strengthening ties with international partners. With increased attendance, a focus on cutting-edge technologies, and a commitment to sustainable practices, VIATT 2024 positions Vietnam as a key player in the global textile market.

India's largest global textile event, Bharat Tex 2024 concluded on 29th February 2024 in New Delhi, echoing the visionary 5F initiative championed by Prime Minister Narendra Modi. Inaugurated on 26th February, 2024 at Bharat Mandapam, the event marked a pivotal moment for the textile industry, drawing enthusiastic participation from both domestic and international stakeholders.

Organised by a consortium of 11 Textile Export Promotion Councils and supported by the Ministry of Textiles, Bharat Tex 2024 centered on the transformative journey from Farm to Fashion, resonating with the ethos of sustainability and innovation. Over the course of four days, the event emerged as a nexus for trade, investment, and collaborative dialogue, garnering attention from policymakers, CEOs, and trade visitors worldwide.

Spanning an expansive 2 mn  sq ft, Bharat Tex 2024 showcased the entire spectrum of the textile value chain, accentuated by the captivating narrative of Vastra Katha, a curated exposition celebrating the rich heritage and contemporary dynamism of textiles. The event unfolded seamlessly across two cutting-edge venues, Bharat Mandapam and Yashobhoomi, both brimming with fervent participation and engagement.

Eminent global brands and retailers, including Coach, Tommy Hilfiger, Calvin Klein, and H&M, converged at the event, underscoring the international resonance of India's textile prowess. From fabric giants like Toray and Lenzing to retail titans like IKEA and Target, the event witnessed a convergence of diverse stakeholders committed to shaping the future of fashion sustainably.

On the domestic front, India's textile landscape was vividly represented by industry stalwarts such as Reliance, Aditya Birla, and Welspun, among others, epitomizing the country's vibrant textile ecosystem and entrepreneurial spirit.

With 3,500 exhibitors, 3,000 buyers from 111 countries, and over a lakh trade visitors, Bharat Tex 2024 emerged as a beacon of collaboration, innovation, and opportunity. Beyond its commercial significance, the event underscored India's commitment to fostering inclusive growth, empowering rural artisans, and advancing sustainable practices across the textile value chain.

Alif Industries, a composite textile company specialising in 100 per cent export-oriented knit and woven garments, has set forth an ambitious plan to acquire Royal Denim, a leading denim fabric exporter, and Diamond Dredging, aiming to expand its capacity and diversify its business portfolio.

Located in the Cumilla Export Processing Zone (EPZ), Royal Denim is renowned for its production of 100 per cent export-oriented denim fabrics, boasting a monthly capacity of 7.50 lakh yards. Meanwhile, Diamond Dredging engages in dredging activities.

Upon acquisition, these non-listed private sector businesses will operate under Alif Industries, a publicly listed firm and a subsidiary of the Alif Group. The objective behind these strategic acquisitions is to achieve vertical integration, strengthen market position, diversify product offerings, and increase value addition by up to 90 per cent.

Alif Industries is already in the process of merging two publicly listed entities; Alif Manufacturing Company, which produces cotton yarn of various counts, and C&A Textile, engaged in knitting, dyeing, printing, and manufacturing various types of ready-made garments. This amalgamation aims to create a fully integrated garment manufacturer, with all processes from knitting to garmenting being carried out in-house, except for raw cotton imports and accessory purchases.

Md Azimul Islam, Managing Director, Alif Industries, emphasised that achieving total vertical integration in woven denim fabrics through the acquisition of Royal Denim would significantly enhance the company's capabilities. This integration would facilitate the production of denim wear for export markets with a remarkable 90 per cent value addition.

The move towards vertical integration is not only aimed at increasing efficiency but also at mitigating challenges arising from the current dollar crisis in the market.

In terms of financial performance, Alif Industries reported revenue of Tk65 crore and a profit of Tk7.96 crore for the fiscal year 2022-23. It distributed a 17 per cent cash dividend to its shareholders for the fiscal year. Despite a slight decline in revenue to Tk36.92 crore in the July-December period of the current fiscal year, net profit increased to Tk4.78 crore.

Global retail giant Uniqlo continues to promote peace through its ongoing Peace For All charity T-shirt project, unveiling four captivating designs that symbolise a collective aspiration for harmony.

Set to release on March 18, 2024, the latest collection showcases a diverse array of designs from notable individuals. It comprises a heartfelt design featuring by renowned Japanese anatomist Takeshi Yoro, featuring a photograph of his cherished cat Maru, accompanied by the poignant phrase 'Hope means we can change.' 

The late New York artist Jason Polan's whimsical illustration graces the pocket of another T-shirt, infusing it with playful charm. Legendary calligrapher Hakujyu Kuiseko presents a striking composition adorned with Japanese text conveying the profound message, 'If you expand the circle, it's a world. If you shrink it, it's an ego.' Afghan-born American novelist and UNHCR Goodwill Ambassador Khaled Hosseini, celebrated for his acclaimed work 'The Kite Runner,' contributes an elegant design emphasizing that 'Peace is our highest good.'

Under the umbrella of Fast Retailing, Uniqlo's parent company, 100 percent of profits generated from Peace For All T-shirt sales, equivalent to 20 per cent of the selling price, are allocated to three esteemed international aid organisations—UNHCR, Save the Children, and Plan International. These organisations tirelessly work towards alleviating the plight of individuals affected by poverty, discrimination, violence, and conflict.

Since its inception on June 17, 2022, featuring designs from 36 contributors, the Peace For All initiative has garnered remarkable success, with Uniqlo selling over 3.2 million T-shirts worldwide. By the end of January 2024, the initiative had raised an impressive sum of over JPY 970 million (approximately $6.45 million). 

These substantial donations have facilitated a multitude of charitable endeavors, including emergency humanitarian assistance for displaced individuals, protection and support for children affected by conflict and disaster, and the global prevention of early marriage.

Through the Peace For All project, Uniqlo continues to embody its commitment to social responsibility, fostering a brighter, more compassionate world one T-shirt at a time.

Pakistan will organise the 3rd International Conference on 'Knowledge-Based Textiles' from March 05-06 at the esteemed National Textile University. 

Hosted by the university, a pioneer in textile education, the event is supported by the Grand Challenge Fund Project (KnowTex), generously funded by the Higher Education Commission (HEC) of Pakistan. With a focus on evaluating the current state of value addition in textile products and strategising for sustainable growth in textile exports, the conference aims to foster scientific discussions and collaboration among academic scientists, research scholars, and industry experts.

Diverse topics ranging from textiles, composites, circular textiles, functional and smart textiles, to natural fibers and innovation in production processes will be explored during the conference. More than 30 speakers hailing from various corners of the globe including the USA, UK, China, and Qatar, among others, will enrich the event with their insights and experiences.

One of the highlights of the conference is a workshop on incorporating Circularity in Textile value chains, scheduled for March 5th, followed by the main conference on Knowledge-based Textiles. On March 6th, the Interloop Textile Innovation Exhibition and the Ceremony on Innovation Awards will take place, showcasing groundbreaking projects in circularity and sustainability from across the country.

The innovation competition promises to be a platform for over 250 delegations, featuring 40 innovative projects, and attracting the participation of 25 universities and 100 industries. Additionally, six textile associations including PHMA, PRGMEA, APTMA, APBUMA, CLOA, and the Dyes & Chemical Association will contribute to the rich tapestry of activities throughout the conference.

Two engaging panel discussions are also scheduled, addressing critical topics such as "Navigating the Global Fashion Landscape: Challenges and Opportunities for Textile Manufacturers" and "Charting the Path: Advancing Pakistan’s Textile Industry Through Circular Practices". These discussions will be moderated by esteemed academics Dr. Shahid Rasul from Northumbria University, UK, and Dr. Munir Ashraf from the National Textile University, Pakistan, respectively.

In a groundbreaking move towards environmental sustainability, a memorandum of understanding (MoU) was inked at Bharat Tex 2024 between the Textiles Committee, the Government e-Marketplace (GeM), and the Standing Conference of Public Enterprises (SCOPE). 

The agreement heralds a significant stride towards promoting the upcycling of textile waste and scrap, ushering in a new era of sustainable and circular textile practices.

At the core of this initiative lies upcycling, the process of transforming textile waste into products of heightened value and functionality. The Ministry of Commerce and Industry emphasized that upcycling not only prolongs material lifecycles but also drastically reduces energy, chemical, and water consumption compared to conventional recycling methods.

The MoU outlines a strategic partnership wherein GeM will collaborate closely with stakeholders in the upcycling ecosystem, particularly targeting underserved seller groups. The aim is to grant these groups direct market access in public procurement through GeM outlet stores, bypassing intermediaries. This initiative aligns seamlessly with the broader #VocalforLocal movement, striving to amplify the visibility and sales of upcycled textile products.

Furthermore, the partnership promises to engage stakeholders across the textile upcycling sector through a spectrum of activities, including advocacy, awareness campaigns, outreach programs, mobilisation, and capacity building for last-mile upcyclers. This holistic approach aims to nurture a robust upcycling ecosystem, facilitated by stakeholder consultations and the development of technical specifications for upcycled product catalogues, ultimately streamlining access for government buyers.

The signing ceremony witnessed the presence of Darshana Vikram Jardosh, Minister of State for Textiles and Railways, alongside senior officials from the Ministry of Textiles. PK Singh, CEO, GeM, also played a pivotal role, highlighting the collaborative spirit of the participating organisations. The MoU was formally signed by S P Verma, Secretary of the Textiles Committee, Ajit B Chavan, additional CEO, GeM, and SubhRatna, General Manager of SCOPE.

Birkenstock Holding Plc’s latest earnings report showcased a resilient business model amid a challenging market landscape for casual footwear. 

The company’s sales surged by 22 per cent Y-o-Y to €303 million ($328 million) for the quarter ending December 31, outperforming analyst estimates by a significant margin. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at €81 million, surpassing expectations of €75.5 million.

Since its IPO in October, Oliver Riechert, CEO has emphasised Birkenstock's commitment to sustaining its impressive growth trajectory. The company's strategy focuses on maintaining its fashion appeal, expanding production capacity in Germany and Portugal, and penetrating new markets like China and India. Reichert underscores the company's resilience amid soaring demand, driven by its direct-to-consumer approach and full-price sales strategy.

Birkenstock acknowledges the need to enhance supply capacity to meet escalating consumer demand. Despite planned investments impacting short-term profitability, the company remains steadfast in achieving its gross profit margin target of over 60 per cent and adjusted EBITDA margin in the low thirties percent.

In contrast to sluggish performance from industry giants like Nike and Under Armour in North America, Birkenstock experienced double-digit revenue growth across all regions. The company’s revenues in the Americas grew by 19 per cent driven by strong consumer momentum, while revenues in Europe and the APAM surged by 33 per cent and 51 per cent, respectively.

Birkenstock's journey as a publicly traded company saw a shaky start on the New York Stock Exchange, followed by a remarkable recovery with shares climbing 11 per cent above the listing price. The company's fiscal year 2023 results, announced in January, marked its most successful year to date.