Benetton Group released its 2019 Integrated Report, will soon launch a sustainability-focused platform for the Sisley brand.

In 2015 the Italian fashion group created a sustainability committee and in 2017, it became a member of the Better Cotton Initiative, a worldwide program that aims to make cotton production increasingly sustainable for the people involved in its production, as well as for the environment.

Benetton Group, which last year revealed its plan to convert all of its cotton production to be entirely sustainable by 2025, in 2019 succeeded in having 54 percent of the cotton used for the Sisley and United Colors of Benetton collections be certified by the BCI. In 2018, only 23 percent of the collections were crafted from certified cotton.

In addition, Benetton reduced by 90 percent the CO2 emissions of its logistic activities by implementing the use of rail and road transportation to import raw materials from China. Last year, the company also activated the recycling of 84 percent of the waste of its campuses in Ponzano and Castrette.

As part of its social responsibility strategy, in 2019 Benetton made an assessment of 300 suppliers to evaluate their social impact. Following that, 70 percent of them amended their noncompliant procedures, while the company ended the collaboration with 18 suppliers.

Bangladesh Securities and Exchange Commission (BSEC) a statutory body attached to the Ministry of Finance and regulator of the capital market of Bangladesh, comprising Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) – rejected the IPOs of Beka Garments and Textile and SF Textile Industries for data manipulation, claimed media reports.

As per reports, BSEC rejected the IPOs as it found that the companies inflated revenues and profits and overstated inventories and assets in their financial statements.

According to the IPO prospectus, the principal activities of Beka Garments are to carry import, export, manufacturing, printing, dyeing, washing, embossing and trading of different types of readymade garments, knitwear, shirts, paints and other wearing apparels while as per the IPO prospectus of SF Textile, its main activities are to carry on the business of spinning mills to manufacture all types of cotton,viscose and CVC yarn for export to 100 per cent export-oriented dyeing or textiles industries and export thereof.

According to a provisional data released by the Japan Chemical Fibers Association (JCSA), the Japanese production of MMF fiber in June ’20 has fallen by 18.80 per cent on Y-o-Y basis to hit 54,919 tonne.

The production output in the same month of 2019 was 67,900 tonne. Of total output, cellulosic fibers contributed 13,915 tonne, noting 18.20 per cent yearly increase over June ’19. On the other hand, synthetic fibers fell 26.60 per cent to give 41,004 tonne of output in June ’20.

The synthetic fiber production in Japan majorly saw decline because of low output of nylon filament, polyester filament, acrylic staple fibre and polyester staple fibers, while, at the same time, production output got increased for polypropylene filament and polypropylene staple fiber.

As far as half-year period (January to June ’20) is concerned, the total production of MMF fibers in Japan decreased 9 per cent to 378,751 tonne.

The production of cellulosic fibers noted 6.40 per cent growth in 6-month period of 2020 to 91,385 tonne, while synthetic fiber tumbled 13 per cent to 287,366 tonne.

Farzad Piltan, Director-General,, Iran’s Trade Promotion Organization (TPO)’s Office of Arabian and African Countries said that Iran has the potential for exporting $150 million of garments to Iraq per year.

The official made the remarks on the sidelines of the third meeting of TPO’s Commodity-Country Desk on trade with Iraq, which was mainly focused on investigating the ways for increasing garments export to the Arab country.

Iraq imports $700 million of garments per year, while the share of Iran’s garment exports to its neighbor is just $35 million, which can be increased at least to $150 million, Piltan noted.

Despite the re-imposition of U.S. sanctions against the Islamic Republic, Iraq has been getting closer to Iran both politically and economically.

There is also the same approach adopted by Iran, as many Iranian companies are now eager to conduct trade with Iraq, especially with the Kurdistan region where there is a great demand for Iranian products.

IFAI has decided to transform IFAI Expo 2020, set for November 3-6, 2020, in Indianapolis, Ind, into an online only virtual event.

IFAI Virtual Expo will take place over several days in early November 2020 in a robust platform designed to provide many exciting opportunities for attendees, exhibitors and sponsors to discover, network and help grow their businesses.

Attendees will explore the knowledge-packed educational sessions from the comfort of their home or office. Textile professionals from anywhere in the world can discover new products, chat, network and meet with exhibitors, communicate with colleagues and learn from world-class educators and presenters.

Virtually, IFAI Expo will host numerous sessions both live and on-demand. Attendees will be able to view, hear and ask questions to speakers along with other attendees. Exhibitors and sponsors will have numerous opportunities to get their sales message in front of IFAI Expo’s qualified audience through virtual exhibit space, advertising within virtual event software, the digital show guide, sponsored sessions, networking lounges, etc.

Attendees will be able to visit with exhibitors by navigating to their virtual exhibit booth which will offer ways to present product information that is easy to access, connect with exhibit booth staff by chat, a live call or setting up an appointment, etc.

In its latest COVID-19 Tracker Study, GlobalData forecasts that COVID-19 will wipe $395.6 billion from global clothing and footwear sales in 2020, a 19.5 per cent decline on 2019. The segment's loss of sales is highly significant as it is equivalent to 29.1 per cent of the $1.36trillion of total sales lost by the overall retail industry in 2020.

Similarly, the forecast for Asia-Pacific (APAC) are $95.4billion lower than those prior to the pandemic, responsible for 16.3% of the overall retail sales lost in the region in 2020.

Meanwhile, GlobalData says the crisis has changed the purchasing attitudes of consumers. Most declare that trust is an important factor when purchasing products, with 60 per cent stating that trustworthiness, risk-free and familiarity are factors influencing their choices of products/services.

The study covered 5,500 respondents across Australia, Brazil, China, Germany, India, Italy, South Africa, Sweden, the UK, the US and the UAE.

KG Denim has reported total income of Rs.118.08 crore during the period ended March 31, 2020 as compared to Rs.142.24 crore during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.(6.44) crore for the period ended March 31, 2020 as against net profit / (loss) of Rs.1.34 crore for the period ended December 31, 2019.

The company has reported EPS of Rs.(2.51) for the period ended March 31, 2020 as compared to Rs.0.52 for the period ended December 31, 2019.

The company has reported total income of Rs.118.08 crore during the period ended March 31, 2020 as compared to Rs.179.70 crore during the period ended March 31, 2019.

The company has reported total income of Rs.512.28 crore during the 12 months period ended March 31, 2020 as compared to Rs.728.76 crore during the 12 months period ended March 31, 2019.

The company has posted net profit / (loss) of Rs.(16.41) crore for the 12 months period ended March 31, 2020 as against net profit / (loss) of Rs.8.53 crore for the 12 months period ended March 31, 2019.

The Lyst Index Q2 2020, a quarterly ranking of fashion’s hottest brands and products, demonstrates how some brands struggled to evolve with changing landscape, while others showed compassion, support and creativity under duress. The Index ranks Nike as the hottest brand in the world owing to its prior investments in building its digital business and having the right product for a consumer base cooped up at homes. The brand’s digital sales jumped 75 per cent to achieve its 2023 goal. Its sales were propelled by a 106 percent increase in demand for loungewear and activewear, as consumers sought comfortable clothes to wear at home, as well as attire for exercise and outdoor activities.

Off-White slipped from the top spot but continued to see strong interest in its face masks and the ’90s-inspired capsule eycollection it launched with retailer TSUM.

The third position was occupied by Gucci, who captured the attention of consumers and the fashion industry by its announcement of holding two seasonless collections every year.

Balenciaga, which pledged to make an annual donation to the NAACP, landed in fourth place, while Prada nabbed fifth place, capturing the attention of consumers with virtual reality shopping.

Saint Laurent, Versace, Burberry, Fendi and Bottega Veneta rounded out the top 10. Like Gucci, Saint Laurent announced its plan to abandon the traditional fashion calendar and begin to follow its own rhythm. Both Versace and Bottega Veneta stayed connected with consumers online through Instagram and YouTube campaigns, respectively. Meanwhile, special collaborations boosted Fendi’s and Burberry’s profiles during the quarter.

To be held on September 1 and 2, 2020 in Tokyo, Japan, the India Tex Trend Fair will be a phygital event as Indian apparel exports will be able to send 150 samples for display in a 6 sq. mt. booth at the venue. Organized by Japan India Industry Promotion Association (JIIPA), the fair will have booths without walls in compliance with COVID-19 requirements. Buyers will be able to visit each booth which will have an interpreter besides an IPAD/laptop setup.

Meetings between exhibitors and buyers will be conducted virtually. These will be prefixed and buyers will be verified to ensure the quality of business generated through this event. Buyers to the fair will include manufacturers, wholesalers, trading companies, importers, select and specialist shops, department stores, volume and online retailers, etc.

The second quarter full-price sales of retailer Next declined by a 28 percent. According to the company, this is better than expected result as it allows it to forecast full-year profit of about £195 million ($252 million).

The company’s warehouse capacity has been restored faster than planned and store sales have been more robust than anticipated. Its online sales too bounced as warehouse capacity picked up and dispatch capacity returned to normal levels. The company’s sales improved by 9 percent from the same period a year ago while like-for-like sales in its stores declined by 72 percent for the quarter to July 25, and by 32 percent since June 15.

The company recorded improved sales in children’s wear, home, nightwear and sportswear and casual categories while sales in formal categories declined.