The Intex Sri Lanka 2023 international textile sourcing fair was a resounding success, with a record attendance of 4,780 visitors. 

This was an overwhelming response from the Sri Lankan textile and apparel industry, and it further cemented Intex's position as the premier textile sourcing event in the region.

The fair was a fruitful and meaningful experience for participants and buyers across the textile supply chain and value chain. Professionals from all over the world came together to explore the latest developments in the industry, forge valuable connections, and learn about new opportunities.

The fair was truly a global affair, with representatives from over 10 countries in attendance. This international presence highlighted the fair's significance on a global scale and underscored its role in facilitating cross-border partnerships to grow the industry.

The next edition of Intex Sri Lanka will be held on 7-8-9 August 2024 at BMICH, Colombo. 

Vietnam's export sector is poised for a rebound in the fourth quarter, according to VinaCapital it attributed this recovery to two main factors: the stabilization of the US inventory cycle and the acceleration of manufacturing relocation from China to Vietnam.

The US is Vietnam's largest export destination, and the country's exports to the US fell by over 20 percent in the first seven months of the year. 

This was due to a combination of factors, including the destocking of inventories by US retailers and the relocation of manufacturing from China to Vietnam.

However, Kokalari noted that the destocking phase is nearing its end, and that Vietnam's exports to the US have started to rebound. He also pointed to the fact that Vietnam's exports have fallen less than those of other Southeast Asian countries, which is a sign that manufacturing is indeed relocating to Vietnam.

Kokalari believes that the export-oriented resurgence in Vietnam's economy will drive a surge in the earnings growth of the VN-Index, the country's stock market index. He predicts that the VN-Index will grow by over 20 percent in 2024.

The Fall 2023 collection from Charles & Keith is inspired by the minimal and monolithic sculptures of Constantin Brancusi. The Pixie series of shoes features platform heels in three different silhouettes: an ankle boot, a sculptural mule, and Mary-Jane pumps. 

All three styles are designed with a succinct approach, devoid of details, seams, and embellishments. The padded uppers are fully lasted over the heels and platforms, leaving behind nothing but an austere and definitive silhouette.

The bags in the collection also take on a minimalist approach. The Petra Curved Shoulder Bag makes a triumphant return for Fall, with a new square buckle that adds a touch of modernity. Presented in a color palette to match the Pixie shoes, the two products are styled together in the campaign fronted by Han So Hee.

The Sculptural Top Handle Moon Bag is another highlight of the collection. It is seemingly crafted into a singular form but opens to reveal a surprisingly roomy interior. The iconic Koa bag is also reintroduced in an East-West top-handle silhouette with a softer, more rounded body.

The Fall 2023 collection from Charles & Keith is a celebration of the continual exploration of freedoms of self-expression, with fashion as a medium. The minimalist shoes and bags are a reminder that we can redefine our personal boundaries and express ourselves in our own unique way.

The 42nd HKTDC Hong Kong Watch & Clock Fair and 11th Salon de TE will be held from 5 to 9 September at the Hong Kong Convention and Exhibition Centre (HKCEC). 

The fairs will gather more than 700 global exhibitors from 17 countries and regions, showcasing a wide range of watches and clocks, from high-end luxury timepieces to affordable fashion watches.

One of the highlights of the fairs is the debut Guo Chao theme, which will welcome several remarkable mainland watchmakers who will showcase timepieces that intricately blend Chinese cultural elements. 

The World Brand Piazza will also be a major attraction, featuring an impressive lineup of 10 international watch brands, including Bovet, Carl. F Bucherer, Corum, CVSTOS, DeWitt, Franck Muller, Jacob & Co., Kerbedanz, Parmigiani Fleurier and Sarcar Geneve.

In addition to the exhibits, the fairs will also feature a variety of forums, seminars, watch parades and networking events. Salon de TE will be open to the public aged 12 and above on 8 and 9 September, and will feature exciting activities such as watch parades, watch and painting demonstrations, embroidery watch crafts, product launches and more. 

Visitors can also participate in lucky draws, with prizes including luxury watches, fashion accessories, dining vouchers and more.

The fairs are a major event for the watch and clock industry, and provide a platform for buyers and sellers to meet, network and do business. They are also a great opportunity for watch enthusiasts to learn about the latest trends and see the latest products from leading brands.

Lenzing Group, a renowned producer of wood-based specialty fibers, unveiled its innovative LENZING  ECOVERO  with REFIBRA  technology at the Intertextile Shanghai Apparel Textile Fair. The technology, an expansion of the successful TENCEL Lyocell fibers with REFIBRA, aims to enhance post-consumer content, underscoring Lenzing's commitment to a circular economy in the fashion industry.

Florian Heubrandner, EVP Global Textiles Business at Lenzing, emphasized the brand's alignment with eco-conscious efforts. "LENZING ECOVERO with REFIBRA technology responds to the demand for circular design innovations," he stated, inviting partners to join Lenzing in elevating circularity within the textile value chain.

LENZING ECOVERO with REFIBRA integrates up to 20% post-consumer textile waste, sourced from cellulose-rich or polyester-cotton blend materials. Lenzing collaborates with industry leaders to collect and sort waste, driving responsible viscose fiber production for a global market.

Aligned with their "Better Growth" strategy, Lenzing's circular approach aligns the industry with evolving demands. The fiber's traceability empowers brands and consumers to make eco-conscious choices, bridging the gap between sustainability and style.

The hosiery sector has come a long way from just providing bare necessities through innovations in fabric and knitting technologies. In 2022, the global sector including men’s and women’s hosiery was valued at $41.8 billion and is projected to reach $55.6 billion by 2030, growing at a CAGR of 3.6 per cent from 2022-30. The US market is estimated at $7 billion, whilst China has forecasted a 4.9 per cent CAGR, with market size reaching $10 billion by 2030. Japan and Canada, each forecast to grow at 1.7 per cent and 2.9 per cent respectively over the 2022-30 period. Within Europe, Germany is expected to grow at approximately 2.9 per cent CAGR. 

India charts new growth

Closer home, in India the sector has a phenomenal performance lined up in India with growth expectation between 18 and 20 per cent year-on-year revenue, thanks to a revival of rural demand. The sector’s revenue is expected to touch around Rs 36,000 crore in fiscal 2024, according to CRISIL Ratings. Operating margin will expand 300-400 basis points (bps) on softer input prices and improved capacity utilisations. The conclusion was arrived after 28 hosiery manufacturers accounting for one-third of the sector’s revenue were analysed and subsequently CRISIL Rating publishing the report. 

China’s hold over global hosiery

By the end of June 2023, China had already exported 256 million pairs of women’s hosiery to the US, capturing 67 per cent of the market. Moreover, women hosiery imports from China exceeded the figures recorded by the second-largest supplier, Pakistan (47 million pairs), fivefold. The third position in this ranking was held by El Salvador (28 million pairs), with a 7.4 per cent.

Rural consumers have high impact on hosiery sector

Last year the rural economies underwent hardship with rising inflation and lower agrarian incomes, this impacted the hosiery sector as 50 per cent of the sector’s consumers are rural and therefore the sector’s revenues dipped by 30 per cent in 2022. CRISIL Ratings Director Rahul Guha states in the report that in 2023-24, urban demand will remain stable, while a well-distributed monsoon and probable inflation moderation should boost rural demand, leading to a recovery of 35-40 per cent in volume. Potential export opportunities, especially to Gulf countries, could bump up the volume further. Capacity utilization had fallen to 60 per cent in 2022-23 but with improved market conditions, particularly rural India bouncing back, capacity utilization will be 90 per cent in fiscal year 2023-24.  According to a senior CRISL Rating spokesperson not too many companies were taking up significant capacity expansion last year, and this resulted in long-term debt becoming minimal. Strong cash flows from higher revenue and profitability will be sufficient to meet incremental working capital requirement and keep overall debt in check according to the CRISIL Ratings expert.  The trade deal between the UAE and India would have significant growth for hosiery. 

Sector aims to regain pre-Covid operating margins

As hosiery demand grows, manufacturers are pulling back and curtailing on advertising and marketing. Almost 90 per cent capacity utilization and good export prices are helping manufacturers gain back operating margins – at least by 12 to 16 per cent. Notably, the Comprehensive Economic Partnership Agreement signed by the government with UAE could boost textile segment exports, especially hosiery. The agreement could add 2-3 per cent to hosiery exports from the historical level of 10 per cent. Amid strong demand pull, manufacturers will curtail their advertising and marketing expenses. Increased operating leverage from higher capacity utilisations, will aid profitability. Hence, operating margin will improve to the pre-pandemic level of 12-14 per cent.

Leading MMCF producer Tangshan Sanyou has committed to scale up the production of low-carbon, circular fibre, up to 200,000 tons per year, adjusted to market demands. This would be a nearly five-fold increase from their previous Next Gen production.

The move is designed to meet the growing brand need for low-impact textiles, whilst also contributing to China's ambitious climate targets, and supporting the conservation of climate-critical Ancient and Endangered Forests around the world.

Tangshan Sanyou's commitment is in line with China's dual-carbon objectives, as well as the country's visionary plan to recycle a quarter of its textile waste and use it to produce two million tonnes of recycled fibre annually by 2025.

The company's decision is a major boost for the Next Gen textiles industry, which is working to develop innovative, sustainable alternatives to conventional textiles.

Renewcell, a textile-to-textile recycling company, welcomed Tangshan Sanyou's commitment, saying that it would help to "solve two problems at once: sourcing pressure on forests, and textile waste."

Canopy, an environmental not-for-profit, also praised the move, saying that it was "a significant step forward in the fight against deforestation."

Tangshan Sanyou's commitment is a positive sign for the future of the textile industry. It shows that there is a growing demand for low-impact textiles, and that companies are willing to invest in sustainable solutions.

Canada's corporate ethics watchdog, the Canadian Ombudsperson for Responsible Enterprise (CORE), announced on Thursday that it is launching investigations into the Canadian branches of Walmart and Hugo Boss, as well as the Canadian sector of Diesel, a fashion company owned by Italy's OTB. 

The investigations are in response to allegations that the companies have used Uyghur forced labor in their operations and supply chains.

CORE said that it has published an initial assessment report following complaints lodged by a coalition of 28 civil society groups in June 2022. The report found that there is "reasonable basis to believe" that the companies may have used Uyghur forced labor.

Walmart Canada and Hugo Boss have both denied the allegations. Walmart said that "none of the entities mentioned in the complaint are part of our current disclosed supply chain." Hugo Boss said that CORE's investigation is centered around a supplier relationship that concluded in 2022. Diesel has not responded to inquiries for comments.

The allegations of Uyghur forced labor have been a major concern for human rights groups. In March, a United Nations committee expressed apprehension about China's treatment of its Muslim minority, citing instances of forced labor involving Uyghurs. China has consistently denied these allegations.

CORE was established in 2019 with the aim of monitoring and investigating instances of human rights violations, primarily involving Canadian companies in the garment, mining, and oil and gas sectors operating internationally.

The investigations into Walmart, Hugo Boss, and Diesel are the latest in a series of probes by CORE into Canadian companies that have been accused of using forced labor. In recent months, CORE has also launched investigations into Nike Canada, Dynasty Gold, and Ralph Lauren.

Messe Frankfurt and VIETRADE have jointly revealed plans for the upcoming Vietnam International Trade Fair for Apparel, Textiles, and Textile Technologies (VIATT), scheduled to take place from February 28 to March 1, 2024, in Ho Chi Minh City. This event aims to draw more than 500 exhibitors and approximately 35,000 visitors, positioning Vietnam as a significant participant in the global textile market.

VIATT will be held at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City, a strategic location with access to Vietnam's largest international airport and seaport. The event is expected to attract exhibitors from around the world showcasing a diverse range of products, including apparel fabrics, yarns, fibers, garments, technical textiles, nonwovens, textile processing, printing technology, home textiles, and more.

The inaugural edition of VIATT is anticipated to be a major success, as Vietnam's textile industry is growing rapidly. The country is now the world's second-largest exporter of garments and the sixth-largest exporter of textiles. VIATT is poised to become a key event for the global textile industry, and it will help to position Vietnam as a leading player in this sector.

Key highlights of VIATT 2024:

• Over 500 exhibitors from around the world

• Approximately 35,000 visitors

• Held at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City

• Exhibition area of 18,000 square meters

• Showcase of a wide range of products and services

• Networking opportunities for buyers and suppliers

• Forum on the latest trends and innovations in the textile industry

VIATT 2024 is a must-attend event for anyone involved in the textile industry. It is the perfect opportunity to connect with buyers and suppliers from around the world, learn about the latest trends and innovations, and explore the potential of Vietnam's growing textile market.

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) organized the Bangladesh Apparel Summit in Melbourne, Australia for the first time overseas. The summit was held on July 18th at the Hotel Intercontinental Melbourne.

The summit was attended by 130 participants from brands, retailers, suppliers, consumers, development partners, academicians, and Australian policymakers. The event was a great platform to showcase the progress of the Bangladesh apparel industry and to discuss ways to move forward together.

In addition to the summit, the BGMEA delegation also held a number of bilateral meetings with Australian government officials, brands, NGOs, and other stakeholders. These meetings were aimed at strengthening the relationship between Bangladesh and Australia and to explore new opportunities for cooperation.

The summit was a success and it helped to raise awareness of the Bangladesh apparel industry in Australia. The BGMEA delegation is confident that the relationships that were built during the summit will lead to further cooperation between the two countries in the future.

Here are some of the key takeaways from the summit:

• The Bangladesh apparel industry has made significant progress in recent years in terms of sustainability, competitiveness, and innovation.

• The industry is committed to working with brands and retailers to ensure that its products are produced in a safe and ethical manner.

• The industry is looking to expand its market share in Australia and other developed countries.

• The summit was a great opportunity to build relationships and discuss ways to strengthen the Bangladesh-Australia apparel trade relationship.