Turkiye faced a 2.98 per cent rise in consumer prices in May this year while its annual inflation increased by 3.53 points to 73.5 per cent, according to the TurkiyeCumhuriyetMerkexBankasi (TCMB), the country’s central bank. Prices in Turkiye;s clothing and footwear group grew by 4.63 per cent on a monthly basis while annual inflation in the category rose by 3.52 points to 29.27 per cent.

The rise in annual consumer inflation spread across sub-categories in this period, with the most significant contribution coming from core goods and services. In May, subcategories of the core goods group faced annual inflation. The annual price increase in the services group remained relatively flat in transport services while it increased in other sub-categories.

The rise in producer prices persisted in the month due to international commodity prices, exchange rate developments and ongoing supply chain disruptions. In May, annual core goods inflation increased by 3.74 points to 65.32 per cent.

G-III Apparel Group has finished acquiring 81 per cent stake in fashion brand Karl Lagerfieldfor approximately $214 million. G-III purchased the stake in the brand from a group of private and public investors, led by Fred Gehring of Amton Capital BV. The transaction was funded by G-III with cash on hand. As a result of the transaction, the Karl Lagerfeld brand is wholly owned by subsidiaries of G-III Apparel Group, Ltd.

The brand joins the G-III portfolio of more than 30 licensed and proprietary brands, including DKNYY, Donna Karan, Calvin Klein, Tommy Hilfiger, and Karl Lagerfeld. G-III’s owned brands include DKNY, Donna Karan, Karl Lagerfeld, Karl Lagerfeld Paris, Vilebrequin, G.H. Bass, Eliza J, Jessica Howard, Andrew Marc, Marc New York, and Sonia Rykiel. G-III also distributes directly to consumers through its DKNY, Karl Lagerfeld, Karl Lagerfeld Paris, and Vilebrequin stores and its digital channels for the DKNY, Donna Karan, Vilebrequin, Karl Lagerfeld, Karl Lagerfeld Paris, Andrew Marc, Wilsons Leather, and G.H. Bass brands.

In 2019, Karl Lagerfeld joined the Fashion Pact, a global sustainability initiative seeking to transform the fashion industry through objectives in three areas: climate, biodiversity, and ocean protection.

The innovative display graphics and industrial textile solutions from Electronics For Imaging, Inc, at the FESPA Global Print Expo deliver remarkable efficiency, quality and sustainability to help customers drive profits and win new business. The new EFI™ ReggianiecoTERRA pigment solution making its debut there is an advanced integrated solution for streamlined, greener textile printing.

The EFI ReggianiecoTERRA is an all-in-one solution for water-based pigment printing that requires no ancillary equipment for pre- and post-treatment. Its patent-pending technology gives customers a distinct competitive advantage, dramatically cutting energy and water consumption in the overall process for a more sustainable direct-to-fabric printing experience.

Users will benefit from ecoTERRA’s ability to deliver excellent wet and dry fastness, remarkable sharpness in detail and extraordinarily high durability while also yielding longer printhead life with reduced maintenance costs.

The new ecoTERRA ink range features 7 colours – cyan, magenta, yellow, black, blue, red and green – for an expanded colour gamut. An enhanced polymerisation and finishing unit for the EFI ReggianiecoTERRA also gives the fabric a softer hand feel, delivering performance that is in line with the most stringent textile industry requirements.

To achieve net zero carbon emissions goal by 2030, the fashion industry needs to accelerate its response. Failure to do so might result in doubling emissions from the permitted levels to align with the Paris Agreement, warns a new report by the Global Fashion Agenda. Titled, ‘The GFA Monitor,’ the new report fosters collaboration on sustainability in the fashion industry to accelerate the impact. Prepared in consultation with 20 partners and organization, the report offers insights on current industry status, solutions, action needed and proven best practices.

Bringing about universal change

Disrupted by the pandemic and volatile geopolitical climate, the fashion industry needs bold collaborations to redesign operations and bring about universal change, says the report. It guides the industry on the five sustainability priorities outlined in the Fashion CEO Agenda including: Creating Respectful and Secure Work Environments, Creating Better Wage Systems, Circular Systems, Resource Stewardship and Smart Material Choices.

Each priority is explained in the report with expert insights from GFA’s Impact Partners including Fair Labor Association (FLA), the Social & Labor Convergence Program (SLCP), Ellen MacArthur Foundation, Apparel Impact Institute, and Textile Exchange, respectively. These priorities enable the industry to achieve a fair living wage for all, reduce conventional virgin resources and decrease carbon emissions.

Federica Marchionni, CEO, Global Fashion Agenda adds, “The report enables us to create an aligned resource for the industry. It encourages knowledge sharing through expert alliances with multiple organizations in different specialties.”

Global Fashion Agenda collaborated with sustainability insights platform, Higg to establish a base for the measurement of reliability, and consistency of data for industry progress. Data available from brands and retailers on the Higg Brand & Retail Module (BRM) shows the tremendous progress achieved in resource stewardship, respectful and secure work environment and smart material choices. However, a lot still needs to be achieved in the field of Better Wage Systems and Circular Systems, the report states.

Standard to measure industry progress

GFA aims to make The GFA Monitor, an annual standard for the fashion industry to measure industry progress, make it more accountable, offer latest data on the industry, and highlight the required actions to meet its objectives. Lewis Perkins, President, Apparel Impact Institute (Aii) says, “The report highlights the industry’s collaborative nature to accelerate positive impact. We can fill the tremendous gaps existing in the industry only through greater collaboration and transparency.”

Laura Balmond, Fashion Lead, Ellen MacArthur Foundation affirms, the report brings together key industry actors to address challenges and create real change. “Our contribution to the report will help the industry transition from a linear model of take and make waste, to one that eliminates waste and pollution, circulates products and materials and regenerates nature.”

India’s textile industry saw phenomenal sales and EBITDA growth in FY22 over pre-COVID levels, shows latest Wazir Textile Index compiled by Wazir Advisors for the year FY22. The index based on the analysis of 10 companies highlights, overall grew by 18 per cent Y-o-Y since 2020. Welspun India recorded highest sales at Rs 5,956 crore followed by Vardhman Textiles with total sales worth Rs 5,788 crore. The third highest was Arvind Ltd with sales worth Rs 4, 519 crore.

Overall textile sector revenues grow 85%

In FY22, total revenues of India’s textile industry grew 85 per cent over FY20 levels. However, EBITDA margins of Welspun declined from 20 per cent in FY20 to 18 per cent in FY21 and further to 13 per cent in FY22. Vardhman Textiles EBITDA dropped to 13 per cent in FY21 from 14 per cent in FY20. However, it increased to 23 per cent in FY22. On a consolidated basis, EBITDA margins of the selected 10 players increased 5.0 percentage points.

Cost of raw materials dropped 2.0 percentage points

The average raw material cost of the textile industry grew 36 per cent in FY22 over FY20 while cost of manpower increased 19 per cent. Based on percentage points, raw material costs decreased 2.0 percentage points in FY22 over FY20.

Welspun’s raw material costs highest

Raw material costs of Welspun India grew 53 per cent in FY’21 as compared to 49 per cent in FY’20 and further increased 58 per cent in FY’22, this was by far the highest among all ten companies in the study. The second highest increase was recorded by Vardhman Textiles whose costs increased 54 per cent in FY’21 over 53 per cent in FY’20. However, it declined to 48 per cent in FY’22.

Average employee costs decline by 19%

Compared to FY’20, the average employee cost of the top ten industry players grew 19 per cent in FY’22. However, the average employee cost fell by2.0 percentage points in FY’22 over FY’20. From 10 per cent in FY20, Welspun India’s average employee cost declined to 9 per cent in FY21 and 8 per cent in FY’22.

The employee cost of Vardhaman Textiles increased to 10 per cent in FY21 from 9 per cent in FY’21. However, it fell further to 7 per cent in FY’22. Arvind Ltd’s employee cost also followed a similar patter, increasing to 13 per cent in FY21 over FY20 but falling to 9 per cent in FY22.

Quarter on quarter sales 29% in Q4

The consolidated sales of all 10 textile players quarter-on-quarter (Q-o-Q), grew 29 per cent to Rs 14, 255 crore in Q4 of the year compared to corresponding quarter of previous year. Average EBITDA margins of the companies declined 1 percentage points in Q4FY22 to 6 percentage points compared to 5 percentage points in Q3FY22.

Fiber exports dominate

India’s textile and apparel exports grew at a CAGR of 13 per cent from $34,222 million in FY20 to $43, 435 million in FY22. Triggered by the US ban on exports from China, India’s fiber exports achieved highest growth of 46 per cent from $1,891 million in FY20 to $4,041 million in FY22. This was followed by yarn exports which grew 36 per cent from $3,501 million in FY20 to $6,474 million in FY22. The United Arab Emirates topped with highest share of India’s textile and apparel exports at 36 per cent while the share of exports to Bangladesh increased 7 per cent during the year.

Yarn imports total 26% in FY’22

India’s textile and apparel (T&A) imports have grown steadily since 2020. Imports of filament yarn increased 26 per cent during the year compared to FY20. China continued to be the largest importer of fibers and yarn from India though its share declined by 2.0 percentage points compared to 2021.

Sri Lanka-based apparel manufacturer and design-to-delivery solutions provider, MAS Holdingshas launched the MAS Foundation for Change, an independent non-profit organization to tackle social and environmental challenges related to biodiversity loss, ocean pollution, and lack of access to clean water.

Focusing on fulfilling the United Nations Sustainable Development Goals, specifically SDG 6: Clean Water & Sanitation, SDG 13: Climate Action, SDG 14: Life Below Water, and SDG 15: Life on Land, the foundation builds upon the company-wide sustainability strategy, The Plan For Change, by working with other institutions to create large-scale positive impact. The non-profit will first focus on the expansion of the ‘Ocean Strainer’ pilot floating trash trap project introduced by MAS in 2020.

In its inaugural year, the Foundation will focus on the expansion of the ‘Ocean Strainer’ pilot floating trash trap project introduced by MAS in 2020, in collaboration with customers and other like-minded partners, as well as scaling up biodiversity restoration initiatives through reforestation, invasive species removal and enrichment.

The MAS Foundation for Change establishes a unique operational mechanism in which 100 per cent of donor funding is directed towards projects in the field with MAS absorbing all overhead costs. The distinctive model has already attracted global and local partners including the International Union for the Conservation of Nature (IUCN), Parley for the Oceans, the Laudato Si Challenge Foundation, Solar Impulse (part of Sail Lanka Yachting Group), Clean Ocean Force Lanka, and the Galle Conservation Society.

Latest collection of natural and blended yarns by Asian and European suppliers will be showcased at the upcoming Yarn Expo in China from August 29-31. As per a Textile Value Chain report, the upcoming exhibition will provide overseas buyers with access to leasing domestic players. They will also be able to build stronger relationships in the region besides increasing their market presence.

Kelly Gao, Executive-IBD Yarn, Texperts India, an exhibitor who participated in the previous edition of the exhibition said, it saw an increase in demand for imported yarns as people demanded more imported due to cost and quality concerns. Yarn Expo has maintained its scale and quality despite the pandemic, he added. Due to pandemic-led disruptions, they focused on sourcing environmentally-friendly and anti-bacterial materials. “The quantity and quality were higher than expected, and although the pandemic impacted international participation, there were still some foreign exhibitors present,” added Jingxiang Lu, Director, Changshu Runfa Textile Co.

Bangladesh’s garment industry aims to carry forward the achievements of the sector and sustain its reputation as a safe and sustainable industry, says Faruque Hassan, President, Bangladesh Garment Manufacturers and Exporters Association (BGMEA). Hassan was speaking at a discussion titled, ‘On the road to sustainability and a transparent supply chain’ organized by OAV – German Asia-Pacific Business Association, the German importers, and the Embassy of Bangladesh in Berlin, and hosted by Wünsche Group Friday.

Hassan says, Bangladesh has the highest number of LEED Green factories in the world, with 161 green factories certified by the USGBC, of which 48 are platinum-rated and 99 are gold-rated, and these green factories are equipped with all the eco-friendly features and emit 40 percent less carbon than a conventional factory.

The BGMEA has joined the German Green Button initiative which identifies socially and ecologically sustainable textiles that are placed on the market by responsible companies. It publishes all factory inspection reports online, setting an unique example in the world on the issue of workplace safety.

The discussion was also attended by Mosharraf Hossain Bhuiyan, Ambassador of Bangladesh to Germany, Miran Ali, Vice President, BGMEA; Christian Moritz, Managing Director, Wunsche Gruppe;, Almut Roessner, Executive Board Member, OAV, Dr Michael Arretz, CEO, VFI; Christian Ewert, Global Director, TEDD – Trusted Experts on Due Diligence, and Md Saiful Islam, Commercial Counsellor, Bangladesh Embassy in Berlin.

Balenciaga emerged the hottest brand in Q1 FY22 on Lyst Index. The brand achieved this feat for the third consecutive time. Gucci which collaborated with sportswear giant adidas for its F/W runway show that explored the growing demand for retro sportswear garments ranked second. Diesel emerged the fastest rising brand in the quarter, climbing 31 places to enter the ranking for the first time. Other brands to make it to Q1 ’22’s top 20 hottest brands list include: Louis Vuitton, Prada, Valentino, Dior, Moncler, Bottega Veneta, Fendi, Miu Miu, Off White, Burberry, Loewe, Versace, Diesel, Rick Owens, Adidas, Saint Laurent, Nike and Alexander McQueen.

The hottest products listed on the index reflected the industry’s current obsession with Y2K culture and the influence of TikTok trends on today’s youth population. The Lyst Index evaluates over eight million products by volume of social media mentions alongside searches, page views, interactions and sales within the Lyst app. The list has strengthened its place in the industry by covering the opinions of over 160 million customers every year. It also incorporates social media views, activities and engagement statistics across the world over a period of three months.

Cotton prices have softening falling, says Upendra Prasad Singh, Textiles Secretary as the ministry gears up to introduce the PLI 2.0 for the textile industry During April-February 2022, India’s cotton exports increased 57.6 per cent to $9.9 billion compared with $6.3 billion in the full financial year 2020-21. RMG exporters are demanding a ban on cotton exports as rising prices are causing a severe liquidity crisis, delaying their shipments by over 15 days, as per a News 18 report.

The Indian cotton-based textile industry is facing a crisis on the cotton front as the fiber prices increased from Rs 44,500 per candy in February 2021, when an 11 per cent import duty was levied on cotton, to Rs 90,000 per candy in March 2022. This steep rise in cotton prices is proving a major obstacle in the potential growth of the cotton textile value chain in India.