IAF’s member from Korea, KOFOTI will hold the 22nd edition of PIS, Korea’s flagship textile exhibition, on both off & online platforms this year due to the ongoing COVID-19 situation.

The online edition, PIS 2021 Digital Show, will accommodate foreign textile companies that won’t be able to participate in the PIS offline exhibition due to COVID-19 pandemic. This offline edition will take place from the end of July to the end of December. Exhibitors can upload digital content such as photo’s and video clips onto their showrooms. From September 1 to September 3 foreign exhibitors will also have the option to display their physical samples during the physical fair in Seoul.

The fair will enable its exhibit to promote their products on a hybrid platform. They can also expand their promotion before and after the fair on the online platform. The fair will support business opportunities through the on/offline business meetings. It will propose future leading technologies through cooperation between each stream of major companies, expand opportunities of consumer goods, offer trend information through eco-friendly companies and expand buyer sourcing convenience.

adidas has launched a new share buyback program through its new strategy ‘Own the Game.’

The brand aims to generate substantial cumulative free cash flow over the next five years. It plans to share the majority of this – between € 8 billion and € 9 billion – with its shareholders through regular dividend pay-outs in a range of between 30 per cent and 50 per cent of net income from continuing operations, complemented with share buybacks.

Against this background and with the approval of the Supervisory Board, the Executive Board of adidas AG has decided today to launch a new share buyback program in the second half of 2021.

Starting on July 1, 2021, the company plans to buy back shares worth up to € 550 million until the end of the year. Taking into consideration the dividend payment of € 585 million which was made in May, the total amount of cash which the company will return to its shareholders in 2021 is expected to exceed € 1 billion.

As per data released by the Japanese Chain Store Association, menswear sales remained less affected for the second consecutive month in May ’21.

The apparel segment in Japanese chain stores generated sales worth 60,889.61 million yen ($549.57 million) in May ’21 as compared to 64,326.58 million yen ($587.42 million) in April ’21 – noting 5.30 per cent monthly decline.

As per Apparel Resources, revenues from menswear sales increased marginally by 0.10 per cent on M-o-M basis and hit a figure of 11,272.91 million yen ($101.75) in May ’21, while the sales increased by 12.70 per cent on yearly basis as compared to May ’20.

The sales of womenswear products valued 15,766.13 million yen ($142.30 million) in May ’21 and dropped by 2.40 per cent on M-o-M basis.

All other types of clothing including kidswear took a significant dent of 8.30 per cent on monthly note in May ’21 and accommodated 33,850.54 million yen (US $ 305.52 million) revenues.

A delegation of Tajik textile and clothing (T&C) companies is on an intense business tour to Uzbekistan to participate in an initiative promoted by the International Trade Centre under the Global Textiles and Clothing Program (GTEX). The tour aims to encourage regional linkages and share best practices among companies from the T&C sector, the International Trade Centre (ITC) in Tajikistan said.

The group comprises 24 Tajik institutions, including managers and representatives of 17 T&C companies, two consulting firms, two universities, two business associations, and one sector state ministry. The visit to Uzbekistan is scheduled from June 28 until July 3. The study tour aims to present and familiarize Tajikistan’s apparel sector to the textile value chain in Uzbekistan’s Fergana valley, namely Fergana, Namangan, and Andijan. Participants are expected to establish new business contacts and explore possibilities for sourcing materials and expand retail opportunities. In addition, they will also learn about business-specific subjects in Uzbekistan, such as taxes, import and export procedures, access to finance, and country’s support for the national T&C sector. Besides the business exchange, this initiative aims to build linkages with sector associations, T&C training institutes and universities for future collaboration.

Moreover, as part of the tour, the Tajik delegation will also visit local leading textile and clothing companies to learn about the technology and manufacturing processes.

During the second quarter spanning from March 01- May 31, 2021, H&M India’s net sales grew by 200 per cent to Rs 307 crore.

The Swedish fashion retailer a 30 per cent jump in net sales in India for the six-month period ended 31 May, 2021. As per Textile Excellence, the retailer’s net sales in India rose to Rs 836.6 crore during the period

H&M operates 50 stores in the country—apart from its own e-commerce channel as well sales on e-commerce marketplace Myntra. Globally too sales increased in the first half of the year, compared to a year ago period. The pandemic led to reduced footfall as a result of continued restrictions and store closures. At the most, around 1,800 stores were temporarily closed, i.e. around 36 per cent of the group’s total number of stores.

In the year-ago quarter, the retailer had reported 70 per cent y-o-y dip in net sales as India remained under a strict lockdown for most of the period. The retailer was quick to roll out more comfort and casual wear as the pandemic struck last year. This was true of its collection in India as well.

Apart from H&M, the retail group owns fashion brands such as COS, Monki, Weekday, & Other Stories among others. It plans to close 350 stores in 2021 and open 100 new stores. Most of the openings will be in growth markets while closures will mainly be in established markets.

Australian Wool Innovation (AWI) believes EU’s new labeling laws launched recently on apparel products is a disadvantage for all natural products. Don MacDonald, Director, Australian Wool Innovation says, his organization is advocating for robust science to underpin the PEF's rating methods, thereby maximizing wool's reputation and minimizing the risk that wool could be disadvantaged.

According to Macdonald, the Higg Index currently only measures the carbon footprint of that product up to the shop rack. He said, the organization is partnering the cotton industry in South Africa for the project. It is also urging the EU Council not to be swayed by the technical secretariat who advises the EU Council, adds Macdonald.

World’s largest trade fair organizer, Messe Frankfurt believes, demand for new and unique products has increased since last year with consumers emphasizing on quality over quantity. As seen from the first-hand accounts from exhibitors and buyers from the Intertextile Shanghai Apparel Fabrics editions in September 2020 and March 2021, and Intertextile Shenzhen Apparel Fabrics in July 2020, the pandemic has popularized anti-bacterial, anti-viral and other health related concepts.

Buyers are placing orders in small quantities. They are also ordering more patterns, brands and categories. In terms of consumer trends, people are now paying more attention to functional fabrics, such as anti-bacterial and sustainable products, which I think will prove to be even more popular in the future, says Hui Zhang, Regional Sales Manager, Beijing Vitality Textiles Co, China.

The pandemic has accelerated Chinese consumers’ high requirements for product quality and safety, adds David Chu, general manager, Shanghai Baosai International Trade Co. The overriding feeling that textile industry is recovering and progressing in China dominated conversations at the fair amongst the nearly 2,600 exhibitors and 80,000-plus buyers.

M&S has added new third party brands to its kidwear category. The most noteworthy addition is the kidswear range by high-profile footwear brand Clarks at the retailer’s webstore. Besides, M&S has also added Hype, Bestseller’s Jack & Jones Junior, Little Joule, and Somebody’s Child to its store range.

The share of M&S kids’ section has increased by 0.5 per cent and it is the third biggest online kids clothing website in the UK. The retailer’s addition of Clarks to its webstore is part of its strategic shift from ‘special occasion’ clothing & footwear to everyday style & value. Through this shift, M&S aims to introduce a trusted footwear range as part of its brand strategy.

Next month M&S plans to launch a major BtS customer campaign focusing on sustainably sourced schoolwear with the added bonus of Clarks school shoes. As a part of this campaign, M&S will also boost its accessories range by introducing the Hype range of schoolbags and water bottles.

International trade is crucial for the success of apparel industry as it emerges from the pandemic and Brexit effects, says a new report by UK Fashion and Textile Association (UKFT). The report states, though 2021 is likely to be a challenging year for the UK fashion and textile industry. It will also be year of hope. Businesses in UK will navigate lockdown and resume commercial operations as the country finds a way to work out Brexit realities.

The report titled ‘Business Outlook 2021’ was produced in collaboration with Smart Currency Business and UKFT. It shared valuable insights on what the year ahead looks like for UK fashion businesses, implications of the Brexit deal, considerations for protecting the businesses against the pandemic and more.

The report urges UK companies to remain vigilant with existing wholesale customers and agents, as many of them have been substantially weakened in 2020. The same could also apply to some factories. Pricing will be especially sensitive in 2021 and 2022 as consumers can see the price of almost everything, it adds.

The report further urges companies to use credit insurance as a tool to protect their business against a loss incurred due to insolvency, protracted default or political event, and subsequent non-payment of an invoice. It adds, insurer appetite for the fashion and textile sector has been low, given that clothing sales decreased by more than 25 per cent in 2020. However, insurers are now seeing a small bounce back, with March 2021 showing a 5.4 per cent increase on the previous month and a 1.6 per cent growth against February 2020.

The report concludes, availability of physical retail space in 2021 and 2022, in prime city centre sites could be a good opportunity for those looking for a central site or to run a pop-up. However, UK may become less attractive as a retail destination if the government does not reverse its decision to cancel the VAT refund scheme.

Demand for woolen items have declined 80 per cent due to COVID-19, says Miles Barritt, Risk and Recovery Analyst, Australian Wool Innovation (AWI). In a Textile Focus report, Barrit adds, the pandemic has shifted primary consumer of wool as well as marketing of the fiber. Demand for formal wear has fallen as casual wear with athletic wear, commuter clothing, and personal protective equipment (PPE) have become more popular. The GDP of European markets has shrunk 8 per cent, while the US remained steady.

With 80 per cent imports, China has emerged the primary market for Australian Wool Innovation organization’s, says Barritt. Other major importers include the Czech Republic, Italy, India, and South Korea. The pandemic has also increased the revenues of online retailers like Amazon and Alibaba 38 per cent and 37 per cent, respectively. Barritt anticipates vaccine rollouts to assist firms in resuming their operations and consolidating supply networks in 2021.