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Monday, 31 October 2022 16:24

Zegna Q3 revenue up 27 per cent

  

For the third quarter Ermenegildo Zegna’s revenues rose 27 per cent. For the Thom Browne segment revenues for the quarter were up 29 percent. Zegna branded products revenues grew 18 per cent for the quarter. This is a result of the continued success of the Zegna One Brand strategy.

The focus on luxury leisurewear continued to prove successful, with steady growth in that line, particularly in knitwear, while the growth in shoes remained robust. The tailoring and made-to-measure lines saw a strong rebound this quarter; particularly in the US.Textile revenues for the quarter were up 33 per cent with growth across Lanificio Ermenegildo Zegna, Bonotto, and Dondi.

Third-Party Brands revenues grew 64 per cent for the quarter thanks to strong contributions from Tom Ford and Gucci, the latter having more than doubled in comparison to the third quarter of 2021.

The group continues to see significant growth across all geographies. The Greater China region returned to growth for the quarter. Revenues in the Greater China region were up three per cent for the quarter. Growth for all of APAC was at 13 per cent for the quarter. The EMEA region exhibited the strongest growth for the quarter, at 42 per cent. The UK also continued to grow, with revenues for the quarter growing 61 per cent.

Monday, 31 October 2022 16:20

USFIA to host event in November

  

The US Fashion Industry Association (USFIA) will host a trade and transport conference on November 10, 2022.

One of the industry’s most important transportation and logistics events, this brings together fashion brands, retailers, importers, and service providers working in compliance, logistics, sourcing, supply chain management, government relations, and corporate social responsibility to discuss the latest updates on trade policy, transportation, and compliance as well as other topics.Many discussions will focus on US trade policy, the continuing pandemic recovery, and the impact on companies’ supply chains.

The United States Fashion Industry Association (USFIA) represents the fashion industry-- textile and apparel brands, retailers, importers, and wholesalers based in the United States and doing business globally. Founded in 1989 as the United States Association of Importers of Textiles and Apparel with the goal of eliminating the global apparel quota system, USFIA now works to eliminate the tariff and non-tariff barriers that impede the industry’s ability to trade freely and create economic opportunities in the United States and abroad. Based in Washington, DC, USFIA is the most respected voice for the fashion industry in front of the US government as well as international governments and stakeholders. USFIA also connects with key stakeholders across the value chain including US and international service providers, suppliers, and industry groups.

  

From January 2022 to September 2022, Turkey’s apparel exports increased by ten per cent. Earnings from exports of knitted and crocheted clothing and accessories grew by seven per cent during the same months of the previous year. Earnings from exports of non-knitted apparel and accessories grew by 14per cent compared to the same period of the previous year.

Meanwhile, Turkey’s imports of cotton, cotton yarn and cotton textiles increased by a sharp 55 per cent. In September 2022, Turkey’s exports of knitted and crocheted clothing and accessories were affected by recession and slower demand. Exports decreased by one per cent yearonyear. On the other hand, shipment of non-knitted apparel and accessories saw a mild growth of three cent the same month.

Turkey has a target of becoming one of the top three textile exporting countries in the world. The country is already one of the top five textile exporting countries and overtook countries like South Korea and Italy to claim the fifth spot.The industry has increased its share in global textile exports to an all-time-high of three percent. Turkish textile companies are exporting their products to more than 200 countries. Turkey is well known for near-shore manufacturing capabilities that are of high quality.

  

Brands and experts deliberated at seminal two-day Venice Sustainable Fashion Forum discussed about the challenges faced for sustainability and the related scenario.

Sustainability in fashion has made leaps in recent years but has a long way to go. Its complexity and many aspects pose daily challenges, regulatory nightmares and cost the supply chain as a whole has yet to account for.

The shift toward responsibility is defined by six pillars.These include anticipating the market transition, the creation of multi stakeholder task forces, alliances among companies to spark change, the promotion of a positive cultural shift, stimulating a sustainability vanguard by luxury value chains, and the definition of an up-to-date measurement policy based on a few significant key performance indicators. Numbers define what products and processes are sustainable.

The global apparel market is poised to grow at a compound annual rate of six percent by 2026.Swirling forces in the industry are varied and include the increasing penetration pace of social commerce and fast fashion, still largely embraced by younger consumers, as well as a transition toward ultra-fast manufacturing cycles that are pressuring the supply chain.

Conversely, circular business models — resale, repair and rental — represent only three percent of the overall fashion market and only one third of consumers in the US and the UK are eager to spend more on their fashion purchases because of sustainable components.

Monday, 31 October 2022 16:12

Sri Lanka aims at FTAs

  

Sri Lanka is attempting to finalise free trade agreements with countries like China, India, Japan and Australia. These are expected to help boost exports and strengthen the industry’s resilience.

August 2022 saw a 20 per cent increase in export turnover generated by the apparel sector but at present Sri Lanka is not competing on a level playing field. Its main competitor countries like Bangladesh, Vietnam and some African nations have duty concessions in global markets, which it does not have.

Sri Lanka’s only concessions are for the UK and the EU markets, and those come coupled with a variety of strict conditions pertaining to the origin of raw materials which means that utilisation of these preferences remains around 50 per cent for apparel. The US, the EU and the UK comprise about 86 per cent of Sri Lanka’s total exports but Europe is riddled with geo-political tensions and economic volatility. So securing new free trade agreements can help reduce barriers for Sri Lankan apparel exporters and help them diversify. One priority is a free trade agreement with China. Further trade concessions can help better integrate Sri Lanka with regional markets. For example penetrating even ten per cent of the Indian market would be equivalent to reaching 100 million people.

  

Competitors stand to gain from Adidas’ severing ties with Kanye West. However Nike is likely to benefit the most.

If all of a sudden a customer who was buying a couple pairs of Adidas every year now finds themselves with some extra money in their budget every year, the most likely direction they’re going to go with that money is Nike. The dropped deal come in response to West’s controversial behavior, including making anti-semitic comments on Twitter and wearing a White Lives Matter tee to his fashion show. Adidas said it does not tolerate anti-semitism and any other sort of hate speech and that West’s comments and actions were unacceptable, hateful and dangerous as they violated the company's values of diversity and inclusion, mutual respect and fairness.

The termination of the partnership is expected to have a short-term negative impact of up to $246 million on the company's net income in 2022 given the high seasonality of the fourth quarter. Adidas decided to take the hit financially rather than the public relations hit feeling the public relations hit would have had a bigger impact long term on the brand.Adidas is still collaborating with artists like Beyonce and Bad Bunny.

  

Levi’s is innovating across its design and manufacturing platforms to become more sustainable. The brand launched the next iteration of its "Buy Better, Wear Longer" campaign.

The clothing brand is moving toward more circular products and practices across the board.Climate, consumption, and community are at the core of its approach to sustainability, and Levi’s is pursuing a variety of initiatives to support this vision by investing in materials such as organic cotton and performance eco cool with recycled polyester, which reduce water consumption.

Levi's has open-sourced its learnings and tools to affect broader change and works toward helping shift the industry to a more circular model. Levi’s Tailor shops have been set up in chosen Levi’s stores, where customers can avail of the following services — alterations, embroidery, and customizations such as paneling, stenciling, sewing of patches, studs and collectible pins. Denim and fashion enthusiasts can adopt the practice of rewearing and repurposing their Levi’s pieces. Levi’s Tailor Shop has a swap booth where they can barter their used denim pieces, a pop-up shop, a photo booth and a collab area.

As one of the pioneers in the apparel industry, Levi’s is about new industry practices that have a lasting impact on the environment. As part of Levi’s initiatives on caring for the planet, it has less water in its manufacturing process, better energy efficient factories and is campaigning to change consumption habits.

Monday, 31 October 2022 15:56

Bestseller uses Spinnova fiber

  

Spinnova and Bestseller have launched Jack & Jones trousers that are made of 20 per cent Spinnova fiber, 20 per cent BCI cotton and 60 per cent organic cotton.

Spinnova is a material innovation company based in Finland. Bestseller is a Danish fashion group which owns Jack & Jones.

The new fiber created by Spinnova is made from wood with no harsh chemicals involved in the process. The technology guarantees close to zero water use and minimal CO2 emissions while ensuring a natural touch and feel.

This is the first Jack & Jones product made with Spinnova fiber. Bestseller operates in 70 markets with over 20 individual brands. Jack & Jones believes in a better way of making clothes and pushes itself to innovate and explore processes and materials with a lower impact on the environment.

In Spinnova, the brand found a strong and ideal partner to work with. Bestseller’s aim is to change the fashion industry for the better and so is an early adopter of Spinnova’s revolutionary material. Spinnova is now working toward industrial-scale production of a million tonnes of sustainable fibers annually. Its strategy includes commercial scale-up and the involvement of multiple brand owners who are committed to the long term.

Monday, 31 October 2022 15:54

Global Intimate market grows by CAGR of 8%

  

The global intimate wear market is growing by eight per cent a year. Rise in awareness regarding hygiene, fluctuation in demographic dividends, and customization of product portfolios are boosting the growth of intimate wear market. New measurement and design techniques combined with production methods and innovative materials are transforming the quality, range, and applications of intimate wear.

For instance, lingerie designs show a new trend toward muted colors such as earthy tones, navy blue, and pastel colors. Lingerie designers are coming up with many new designs that are embroidered and have two-tone color patterns, and most of them asymmetrical. Animal prints and organic shapes combined with geometrical patterns are also in fashion.

Luxurious, elegant, desirable, and evocative vintage lingerie is also gaining popularity in both the fashion markets and modern intimate apparel. Asia-Pacific is leading the intimate wear market, followed by North America. Growth in the region is supplemented by an increase in national per capita disposable income and growth in fashion consciousness among the young generation.

The fabric used to manufacture intimate wear is also enhanced and made more comfortable, thus offering promising opportunities for intimate wear market players.Intimate apparel is sold through different channels such as mass merchandizers, mono brand stores, specialized stores, and others.

Monday, 31 October 2022 15:52

C&A produces zero impact denim

  

C&A’s denim plant in Germany has technologies specialized for sustainable production.

The facility is powered by 100 percent renewable electricity from on-site solar and a wind farm and about 50 percent of the water used is recycled. Finishing machines are equipped with modern systems to reduce the consumption of water and chemicals by up to 80 percent compared to conventional finishing. The aim is to create a more digital and sustainable textile production and supply chain.

Completed in September 2021, the facility initially hired and trained about 100 employees for the sewing and laundry departments and has produced six styles for C&A’s Forever Denim Collection. Production is ramping up starting with 4,00,000 jeans per year and could expand to 8,00,000.C&A is working to clean up its denim business and help others in their own sustainable evolution.

The company open-sourced its Cradle to Cradle (C2C) certified jeans guidance to support others in the industry. In 2020, the company introduced the first-ever Platinum level C2C certified denim apparel made in partnership with long-term supplier Rajby Textiles. Called Beluga Denim, the organic cotton fabric is made with 100 percent renewable resources and is fully traceable. The fabric manufacturing process is 100 percent carbon neutral and the water used to make it kept in a closed loop system.