Agribusiness banking specialist Robobank forecasts recovering global demand and garment sales will drive Australia’s wool price benchmark up to the 1600c/kg clean mark in the next year. Dennis Voznesenski, Analyst says, demand indicators for wool are positive almost across the board. He believes, the rise in US retail apparel sales by 9.2 per cent in April has sparked recovery in wool prices.

Voznesenski says, while wool prices had not risen to seven-year highs like some other soft commodities, the Eastern Market Indicator (EMI) is 27pc higher than the beginning of the year and has recently cracked through the 1,400-cent mark for the first time in over a year. Prices of super-fine wool micron have exceeded those of coarser wool and also prices from early 2020 with 17 micron wools rising by 88 per cent since last year’s September low, he adds.

The prices of 20 micron wool have increased by 62 per cent over the same period. notes Voznesenski. The growth is fuelled by improving apparel sales in key end markets, particularly for knitwear and the close-to-skin sectors, together with the associated improvement in processor sentiment.

Americans are driving growth in secondhand fashion market by buying more resale goods. As per a GlobalData report, the secondhand fashion market in the US is expected to reach $77 billion in the next five years. Commissioned by online consignment startup ThredUp, the report surveyed 3,500 adults in the country.

The report found a record 33 million Americans bought secondhand for the first time in 2020. Over 76 per cent of these shoppers plan to increase their share of resale purchases in the next five years. The secondhand market is likely to grow 11 times faster than the clothing retail market during this period. Around 42 per cent retailers plan to adopt resale in the next five years making the market two times larger than fast fashion by 2030, predicts GlobalData. Around 58 per cent plan to offer financial incentives with resale. Forty-four per cent consumers believe, the government should play a role in promoting sustainable fashion.

As COVID-19 related restrictions began to ease, trade show Tranoi returned to the physical format with a live event at Palais de Tokyo in Paris. Held from June 25-27, 2021, the event featured 24 emerging designers. It was held in partnership with Federation de la Haute Couture de la Mode. The event was held in tandem with Sphere, French fashion’s governing body’s showroom for emerging designers, with the aim of creating synergies between the two events at the venue at the fashion week hub.

In September, Tranoï will once again collaborate with Sphere at the Palais de Tokyo for the main event featuring 50 young labels. The physical format is likely to make comeback this Fall with many events planned September onwards. WSN will organize next edition of Who’s Next and sister shows in September. Bijorhca jewelry event and Eurovet’s lingerie and swimwear shows will also be held during the month besides Tranoï’s next event. WSN’s Première Classe will be held from October 1 to 4 in the Tuileries alongiwth the Paris Fashion Week

Organizer of India International Textile Exhibition (ITME), India ITME Society, has postponed 2020 edition of the event. The exhibition will now be held from December 8-13, 2022 at IEML, Greater Noida due to rising COVID-19 cases that have disrupted the global textile and textile engineering sector.

The event will help India develop as global destination for sourcing textile and textile engineering products. It will encourage global textile leaders increase investments in manufacturing of textile machinery, thus supporting the government’s ‘Make in India’ initiative. It will also encourage new market development to generate custom leads from rural markets; facilitate connect to agents, dealers, distributors for overseas market as well as the domestic market for the manufacturers; facilitate joint ventures and technology transfer; and promote/support the growth of textile industry in India through new technologies, along with ancillary and allied industries and trade.

Driven by consumers’ willingness to once again buy high-end fashion items, the global luxury sector has started to recover. As per Vogue Business Index, around 16 per cent consumers plan to increase their spending on luxury fashion in the next six months. The majority of these shoppers will be millennials and Gen Z buyers. Around 19 per cent Gen Z luxury buyers will increase their spending on luxury compared to just 11 per cent at the end of 2020. Luxury fashion will be particularly preferred by Gen Z buyers in the US, UK and South Korea, says a report by The Star.

Consumers are also looking for renewed shopping experience. Henceforth, they plan to integrate all sales channels for a cross-channel experience. Future luxury fashion purchases will also be driven by consumers’ increasing emphasis on sustainability and transparency. Around 62 per cent consumers plan to purchase luxury fashion items from brands confirming to these principles only. They also plan to buy more from brands Louis Vuitton and Gucci

A coalition of European business associations representing different sectors have urged for the ratification of the EU-Mercosur agreement, the largest and most ambitious trade agreement ever negotiated by both sides. The agreement will help establish better trade links between the two. It will unlock growth and help both regions recover from the current economic and public health crisis, invest in the green transition and diversify global supply chains and the region’s core market base.

The agreement calls for the most advanced sustainable development provisions that will foster partnership, help mitigate climate change and bind both sides to effectively implement the Paris Agreement. Unilateral legislative initiatives at EU level, such as upcoming initiative on deforestation and the review of existing rules on timber trade and fight against illegal logging will enhance this cooperation and effectively ensure that exports to the EU will not contribute to deforestation or soil degradation.

The agreement includes enforceable commitments on workers' rights and environmental protection through a dedicated dispute settlement mechanism that includes an active role for civil society organizations and calls on the expertise of international bodies, whose reports and recommendations must be made public. In case of non-respect of any of these provisions an automatic mechanism will trigger formal government consultations.

Indian Railways has launched a new train service to export all raw materials like yarn, fabrics and goods from Ludhiana’s textile and garment companies to Bangladesh by train. The train was started by the railway’s Ambala division in collaboration with MGH Group. It consists of 20 parcel vans (VPU). Customers opting for this facility will get end to end transportation solution like exporting yarn, Fabrics & FMCG (Fast Moving Consumer Goods) from their respective factories across Ludhiana and Baddi to their buyers’ factories in Bangladesh including the customs clearance on both the sides of border.

Some of the potential customers from Ludhiana include Aarti International, Cedaar Textiles, Garg Acrylic, Nahar Spinning & Vardhman Textiles. The cost per tonne for carrying by Special Parcel train is Rs 5,491.

Vivek Sharma, Senior DCM, believes, the initiative will help rail transport small parcels of upto 500 tonne in each of the train’s trip. Sunil Tangri, Commercial Head, Vardhman Textiles, Ludhiana, adds, the train service to Benapole will help the whole textile industry in this region to commit to stringent delivery schedule which in turn will increase India’s exports and boost economic trade between two neighboring countries.

Through their technology licensing agreement, denim brands Isko and Soorty have launched a new collection titled ‘Isko Future Face™ by Soorty’. The collection has been created using the innovative Isko Future Face™ technology. Isko Future Face™ is a patented woven fabric that looks like a knit and combines a soft, silky finish with comfort, enhanced shape retention and a flattering drape, while maintaining all the properties of true denim.

Isko is part of Sanko Tekstil, the textile division of the Sankp Group. As the premium denim ingredient brand behind people’s most favorite jeans, it has a strong global presence in 35 countries with 60 international locations. By virtue of its Responsible Innovation™ approach, ISKO works to make the world a better place by creating awareness on environmental and social results. The company’s advanced expertise on woven technologies has led to the development of two top Isko™ innovations – Isko Vital™ and Arquas™ – which have changed the game by introducing the benefits of woven fabrics, i.e. durability and recovery power, into the activewear segment.

Soorty offers LEED certified production in cost-leading countries Pakistan and Bangladesh, a co-creation development facility in the hub of denim innovation Turkey, and design centers in the denim fashion hubs of the world - New York and Amsterdam. It has developed a strong foothold in European and US markets, producing for high street as well as premium brands in these regions. Soorty is the only company to have LEED Platinum and Cradle2Cradle Gold certification across both its denim fabric mill and garment factory, a testament to its commitment to the circular economy and mass sustainable production.

Foreign media reports state, the arbitrary ban and campaign led by the US against Xinjiang cotton may push China to import more than usual cotton this year. As per Global Times, for the last several years, China has been adjusting its cotton import plans in accordance with actual balance between supply and demand of the industry in the year. In 2021, it issued a 700,000-tons quota for cotton imports, all of which is for non-state traders and will be subject to a sliding-scale tariffs system, according to a note published on the site of National Development and Reform Commission (NDRC).

However, with accelerated development of domestic cotton textile industry in recent years, adjusting the nation's cotton import plan according to actual demand has increasingly become a common measure for the industry. This not only improves the supply structure of raw materials but also helps reduce the cost for domestic textile enterprises and enhance their international competitiveness.

A sector that designer Virgil Abloh had expected to fizzle out in 2020, streetwear is on its way to becoming a $185 billion market. The category has managed to survive COVID-19 onslaught with demand growing for both mass and luxury brands.

Women’s streetwear an growing segment

Edited reports women’s streetwear market is growing faster than men’s. New products category are being launched and sold 47 per cent faster now compared to 2019. Streetwear brands Goat and StockX are witnessing exponential rise in women customers with the percentage of new arrivals increasing to 24 per cent up from 9 per cent in 2019. Yet, the streetwear market is largely dominated by men. Even today, retailers across US and UK dedicate 59 and 50 per cent of their spaces to men’s streetwear and luxury brands.

T-shirts, hoodies and sweatshirts are some of the most popular styles in men’s streetwear while women’s streetwear market is largely driven by tank tops. Demand for men’s streetwear accessories is also growing faster at 8.3 per cent against 6.4 per cent for women’s streetwear. The market is largely driven by demand for new hat styles including bucket hats, beanies and caps. On the other hand, demand in women’s streetwear accessories is driven by bags including shopper totes and backpacks.

Growing demand for genderless styles

Customers looking for non-gender binary styles are spending the most on streetwear, says a report by Hypebeast and PwC followed by customers looking specifically for male and female styles. In the US and UK streetwear retailers Kith and Fila’s, women’s styles across core categories sell at either same or lower prices than men’s. For instance, men’s sneakers at Kith are priced 40 per cent higher than women’s sneakers. Men’s streetwear are also sold at less discounted rates of 28 per cent against women’s 32 per cent discounts.

Sale of women’s streetwear increased 47 per cent over the last three months. However, the sale of hoodies outstepped that of tanktops during this period, indicating rising demand for genderless styles in this category.

Men’s luxury streetwear on the rise

Streetwear styles have been deeply integrated into the luxury market in the last three months. During this period, the market has witnessed a 29 per cent increase in stocking of luxury brand sneakers. Demand for quintessential streetwear styles is growing with the launch of new products growing 50 per cent since the start of the year till April-end.

Though 55 per cent of products stocked within the luxury market are more skewed towards women, streetwear still remains a male-dominated market. The number of new streetwear styles launched for men is 50 per cent more than those for women suggest studies. Yet, demand for genderless or unisex fashion continues to grow in this segment. Brands like Telfar, Cold Laundry and Rastah have been launching genderless styles in the last few years.

Popular streetwear styles

Colored soles: Colored soles on sneakers, sliders and bucket hats are a hallmark of street style alongwith oversized silhouettes or matching lounge.

Smiley designs: One of the most sought after design post pandemic, the smiley face has become a streetwear essential popularized by Justin Bieber’s Drew House, Balenciaga, Lazy Oaf, etc.

Relaxed denim styles: Another favorite is the high-waist slouchy denim style with knee rips.

Puffer jackets: With brands including Givenchy, Ottolinger, Staud popularizing this style, puffer jackets have become a streetwear staple.

Co-ordinated sets: Another consumer favorite is coordinated sets, being hailed by both street and activewear consumers. Kith recently launched its Women’s Spring 2 collection comprising knitted separates in timeless hues. Adidas also launched a range of striped tracksuits in collaboration with Black-ish star, Yara Shahidi.