Ellen McArthur Foundation’s Jeans Redesign Project is promoting circular economy by creating long-lasting, recyclable jeans. The Jeans Redesign Project was launched with the help of over 80 denim experts. So far, the initiative has successfully helped launch various styles in the market and is endorsed by various leading brands like H&M, Gap, Lee, Wrangler, Weekday, Triarchy and Reformation.

Several brands adhere to these guidelines and produce several products. Brands like H&M, Mud Jeans, Outland Denim, Triarchy and Boyish have launched such sustainable garments while other bands like Lee, Wrangler, Urban Outfitters, Gap, Banana Republic and Reformation plan to launch more such garments by March 2021.

The Ellen McArthur Foundation initiative emphasizes the importance of circular economy in fashion and especially denim. It serves as an important initial step in the promotion of sustainability in the industry.

The Ellen McArthur Foundation hopes that brands will build on the principles to this project and adopt additional practices for all kinds of garments produced.

Addressing a virtual program on ‘Women Power: the Force Multiplier,’ Rubana Huq, President, BGMEA, said BGMEA aims to reskill female workers to help them contribute to business. At the seminar organized by the American Chamber of Commerce in Bangladesh (AmCham), Huq urged different agencies to disseminate education for skilling the enormous number of female workers

Uzma Chowdhury, Chief Finance Officer and Director, PRAN-RFL Group, said, though the scenario of women entrepreneurship in Bangladesh has been progressing in the right direction, some women entrepreneurs have been facing difficulties in accessing finance due to the fallouts of the COVID-19 pandemic. Around 80 per cent enterprises owned by females have been affected as part of the fallouts of the pandemic as most of those are cottage, micro, small and medium ones, added Syed Ershad Ahmed, President, AmCham.

Till date, many female entrepreneurs have not been able to avail loans from the government-sponsored stimulus packages, he said.

A new report by the RGE Group underlines its commitment to invest $200 million in next-generation textile fiber innovation and technology over a 10-year period. Released a week before the annual Textile Exchange Sustainability Conference, the report advances RGE’s ambition to develop a closed loop, circular and climate-positive cellulosic fiber. Bey Soo Khiang, Vice Chairman says, it highlights the group’s commitment to take sustainability to the next level by exploring new ways to convert waste into a resource to regenerate new materials.

Of the $200 million investment, RGE plans to invest 70 per cent in scaling up proven clean technology in fiber manufacturing, 20 per cent in bringing pilot scale production to commercial scale, and 10 per cent for R&D in emerging frontier solutions. The group has directed investments in three areas: ready market solutions, startups and in-house R&D capabilities.

Achievements over the years

In the last one year, the RGE group has added many notable achievements to its portfolio. These include the launch of FINEX™, a Recycled Claim Standard (RCS)-certified fiber containing up to 20 per cent recycled content produced using a 35,000 ton per annum commercial line; production of Lyocell, a closed loop fiber and a fully recoverable solvent and setting up new R&D facilities in China and Indonesia.

The group has also initiated an in-house cotton textile waste recycling project. It has not just enhanced its existing partnerships but also forged new ones to promote progress towards broader goals. The group also explores retrofitting of viscose production in collaboration with Infinited Fiber Company. It plans to launch a comprehensive study of the textile waste landscape in China in partnership with the China Association of Circular Economy.

Towards a more sustainable future

The report also highlights the RGE’s plans for two viscose business groups for the coming decade. The first group Sateri plans to launch 100 per cent recycled product by 2030. It also aims to use 20 per cent raw materials made from alternative or recycled materials by 2025. RGE’s other group Asia Pacific Rayon (APR) that will source 20 per cent of feedstock from alternative or recycled materials by 2030.

All existing Sateri and APR mills also aim to meet EU-BAT emission limits by 2023. As per Allen Zhang, President, Sateri, as a large and growing fiber producer known for product quality and cost-competitiveness, the group is well-placed to scale solutions. However, it is currently restricted by the limited progress in circularity-specific technologies and availability and volume of alternative feedstock. However, the group remains committed to accelerating its efforts to achieve its target by 2030.

Striving for a better universe

RGE has a strong presence in Asia through business groups Sateri and APR. The group manages resource-based manufacturing companies with global operations. Its work profile work ranges from sustainable resource development and harvesting, to creating diverse value-added products for the global market. The group strives to work towards the development of its community, country, climate, customers and company. Founded in 1973, RGE companies have assets worth over $20 billion. The group has over 60,000 employees and its operations span across Indonesia, China, Brazil, Spain and Canada. It plans to continue expanding to newer markets in future.

Experts at a recent webinar on the theme ‘ Restart Asian Economies’ opined , in order to grow further and consolidate its position in the global market, the South Asian readymade garment sector needs to first strengthen its regional ties and explore new markets. Organized by the Friedrich Naumann Foundation for Freedom, South Asian Regional office, the webinar was moderated by Najmul Hossian, Bangladesh Representative of the foundation. Speaking at the webinar, industry experts AFM Nurur Rahman, General Manager, Ha-Meem Group and Felix Fernando, Group Director, Omega Line said, the sector needs to shun its big brother-small brother mentality, and review existing Free Trade Agreements.

Bangladesh, Sri Lanka feel COVID-19 heat

Bangladesh had started feeling the heat, months before COVID-19 caused disruptions in the sector. The country was witnessing delays in receiving raw materials and lack of new orders. As per BGMEA reports, Bangladesh lost orders worth $13.8 billion owing to COVID-19.

Similarly, Sri Lanka suffered a 25 per cent decline in orders between January and August this year compared with the same period of 2019. According to Fernando, the Sri Lanka depends on two major markets for garments exports-- the US and the EU. These two markets are currently heading into the winter months, and a second wave of the virus expected to raise its head during that season.

The Sri Lankan garment industry faced further setback when thousand garment workers tested positive for COVID-19. The country placed areas where patients have been identified under police curfew besides closing several garment factories. The country employs over 15 per cent of its eight million strong workforce, in the garment sector and most of them are women.

Cutting costs to save revenues

To save escalating costs, both countries stopped working overtime. Bangladesh laid off some employees besides reducing facilities for those in the management and higher income category. The Sri Lankan government allowed garment companies to pay staff 50 per cent wages in May and June and helped with a subsidy. It also allowed these companies to pay either 50 per cent of the salary or LKR14,500 whichever was higher for those working from home.

New schemes to cut back staff

To adhere to social distancing norms and cope with the decline in orders, Sri Lankan companies decided to shut down few garment plants. They also introduced a voluntary retirement scheme, with compensation calculated according to the number of years served, and work years left had been offered and that a majority who took this package were those in management.

Both Rahman and Fernando felt to be price competitive and quick turnaround, they need to introduce better and consistent policies. Rahman advised the government to provide uninterrupted energy supply and better access to health care facilities. Fernando said, the Sri Lankan garment industry should get out of the basic garment mentality. The country needs to shun the GSP plus category and attain self-sufficiency in raw materials.

Renegotiate FTAs

Sri Lanka also needs to review the feasibility of local fabric products, which requires efficient water and wastewater disposal, said Fernando. It also needs to renegotiate Free Trade Agreements (FTAs), as some of their provisions may not be beneficial to the country, he added.

Both Bangladesh and Sri Lanka seem skeptical about achieving their targets within the designated period. To achieve targets both need to strengthen regional growth, said experts.

In its second quarter of FY20-21 ended September 30, 2020, Vardhman Textiles reported total income of Rs.1,679.48 crore as compared to Rs.860.63 crores during the period ended June 30, 2020.

The company posted net profit / (loss) of Rs.60.22 crore for the period ended September 30, 2020 as against net profit / (loss) of Rs.(64.29) crore for the period ended June 30, 2020.

The company has reported EPS of Rs.10.59 for the period ended September 30, 2020 as compared to Rs.(11.31) for the period ended June 30, 2020.

On a yearly basis Vardhman Textiles reported total income of Rs.1,679.48 crore during the period ended September 30, 2020 as compared to Rs.1,693.62 crore during the period ended September 30, 2019.

The company posted net profit / (loss) of Rs.60.22 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.116.58 crores for the period ended September 30, 2019.

The company reported EPS of Rs.10.59 for the period ended September 30, 2020 as compared to Rs.20.45 for the period ended September 30, 2019.

As per Office of National Statistics, UK’s retail sales rose by 1.5 per cent in September from August and by 5.5 percent rise from February’s pre-pandemic level. However, apparel sales in August were still 12.7 percent lower than in February in volume terms, and sales at department stores were 0.9 percent lower. Online sales for textiles and apparel increased by 27.7 percent last month, but declined by 1.7 percent from the August

Research firm GfK says, consumer confidence in the U.K. fell by six points to - 31 in the first half of October, representing the lowest reading since May. The report gives economists pause regarding possible layoffs and the direction of any economic recovery if sales continue to decline in the months ahead.

Recently, Rishi Sunak, Chief Financial Minister, UK unveiled a multi-billion-pound jobs support plan for businesses impacted by local lockdowns and government assistance for self-employed and workers receiving wage benefits. However, the disclosure was made at a time when cities such as Coventry and Slough are being moved up to Tier II restrictions, with Nottingham expected to move to Tier III shortly.

The Welsh government earlier this week announced a ‘firebreak’ lockdown through November 9, shutting down all nonessential retail, leisure and hospitality businesses. During this lockdown, Welsh supermarkets can make accessible only certain portions of their stores that sell essential goods. Consumers can still purchase their apparel needs online. However, lost sales from physical stores will hit the retail sector hard and plunge it deeper into a state of devastation,

The Lycra Company will launch its newest denim innovation, Lycra® Anti-Slip Fiber at the Kingpins24-Amsterdam online event this month, reports Textile World. The virtual expo will explore a different theme impacting the global denim industry every day via live-streamed and on-demand panels, seminars and interviews.

Leaders from The Lycra Company will play key roles in the agenda. On October 28, Steve Stewart, Chief Innovation Officer Steve Stewart will discuss the company’s innovation process. More than 100 PhDs at the company’s four state-of-the-art R&D labs are dedicated to developing innovative fiber, fabric and garment solutions for the apparel industry.

Stewart will present LYCRA® Anti-Slip fiber, a new denim seam slippage solution for applications in single-core spandex fabrics that require durable stretch and good recovery power. This patent-pending fiber helps maintain garment appearance wash after wash and wear after wear.

Using LYCRA® Anti-Slip fiber in the core of LYCRA® dualFX® technology yarn further enhances anti-slippage performance. Combining LYCRA® Anti-Slip fiber and LYCRA® T400® fiber, meanwhile, delivers the high stretch of LYCRA® fiber with exceptional anti-slippage properties and the excellent recovery power of LYCRA® T400® fiber.

On October 29, Julien Born, Chief Commercial Officer, and Jean Hegedus, Sustainable Business Development Director, will discuss how The Lycra Company designs technology solutions for the circular economy.

Headquartered in Wilmington, Delaware, The Lycra Company is recognized worldwide for its innovative products, technical expertise, and unmatched marketing support. The company innovates and produces fiber and technology solutions for the apparel and personal care industries, as well as specialty chemicals used in the spandex and polyurethane value chains.

Multi-brand retail Chain Tablez India aims to achieve a turnover of around Rs 500 crore and expand its network to around 250 stores in India over the next five years, says an Economic Times report.

A subsidiary of the UAE-based conglomerate Lulu Group, Tablez India currently operates 67 stores. The retailer plans to invest around Rs 75 crore every year to expand its retail footprint in the country.

The company aims to boost its presence in digital and e-commerce space as well as physical stores by FY 2026. It will invest around Rs 70 to Rs 75 crore a year for this. Its investments in brands will be re-calibrated post-2021 as per strategy.

The company would fund its expansion through equities as it's a family-owned enterprise. It is also open to expand in other parts of the country. This year, it expects to achieve a turnover of Rs 100 crore.

Tablez India, which launched its operations five years ago in India, operates in retail and food and beverages segments.

Its portfolio consists of brands such as -- Toys "R" Us, Babies "R" Us, Build-A-Bear, GO Sport, and YOYOSO. In the F&B vertical, Tablez holds India franchise rights for Cold Stone Creamery and Galito's, in addition to its home-grown brand, Bloomsbury's.

Responding to an interim order passed by the Emergency Arbitrator in the arbitration proceedings invoked by Amazon under a shareholders’ agreement with the promoters of Future Group, Reliance Retail Ventures (RRVL) said it will complete the transaction in terms of the scheme and agreement with Future Group without any delay.

RRVL has entered into the transaction for acquisition of assets and business of Future Retail under proper legal advice and the rights and obligations are fully enforceable under Indian Law, the company.

It intends to enforce its rights and complete the transaction in terms of the scheme and agreement with Future Group without any delay. Recently, Amazon won an interim order against Future Group selling its retail business to Reliance Industries for Rs 24,713.

Amazon had agreed to purchase 49 per cent of one of Future’s unlisted firms last year with the right to buy into flagship Future Retail business after a period of three years to 10 years. The company dragged the Future Group to arbitration after the indebted company signed a pact to sell its retail, wholesale, logistics and warehousing units to Reliance Retail, which is owned by Mukesh Ambani.

The Singapore International Arbitration Centre (SIAC) has passed an interim order asking Future Group to hold its plans to sell its retail business to Reliance Group and wait for the final judgment on the plea filed by Amazon.

As per an Economic Times report, Amazon had filed an arbitration petition with SIAC claiming that Future Group breached the contract under which the US online giant took an indirect stake in its retail business in 2019. The proposed deal between Future Group and RIL does not have its approval and hence should not go through.

SIAC in its order also asked Amazon to submit a proposal within a week, outlining its plans for Future Retail in case the outcome is in its favor. The interim order is valid for 90 days and SIAC will issue its final verdict in this period.

Reliance Industries said it entered into the transaction for acquisition of assets and business of Future Retail under proper legal advice and the rights and obligations are fully enforceable under Indian Law.

Amazon indirectly owns a 5 per cent stake in Future Retail — which houses all food and grocery stores such as Big Bazaar and Easyday — through a 49 per cent shareholding in promoter holding firm Future Coupons that it bought for Rs 1,500 crore last year.