Textile Exchange plans to launch 2020 CFMB survey in June 2020. The survey enables participating companies to measure, manage and integrate a preferred fiber and materials strategy into their business.

Textile Exchange recently released its 2019 Material Change Insights Report, which surfaces valuable insights about the state of fiber and materials sourcing in the textiles sector in the context of the COVID-19 pandemic. The report draws on exclusive data provided through Textile Exchange's Corporate Fiber & Materials Benchmark (CFMB) program, the largest peer-to-peer comparison initiative in the textiles sector with more than 170 voluntary brand participants. The CFMB program fills a necessary industry gap by rigorously analyzing self-reported company data to track the materials sourcing progress of individual companies as well as the industry at large.

The resulting Material Change Insights Report provides one of the most data-backed and comprehensive analyses of how the industry is progressing in its shift to preferred materials, as well as alignment with global efforts like the Sustainable Development Goals (SDGs) and the transition to a circular economy. It builds on Textile Exchange's Material Change Index (MCI) — a family of indices, published earlier in the year, that tracks individual company progress.

The 2019 report was authored by Textile Exchange's Fiber and Materials team, with circularity content developed with global consultancy Corporate Citizenship and support from media partner GreenBiz.

Salvatore Ferragamo, the Florence-based label, which has suffered a 30 per cent decline in sales due to the COVID-19 crisis, has reshuffled its management and reappointed Michele Norsa as its executive deputy chairman. Micaela le Divelec Lemmi will continue in her role as CEO but the Ferragamo family has stepped down from their executive positions.

Norsa has taken over the authority previously held by Ferruccio Ferragamo, who will continue in his role as chairman but has passed on his previous executive powers. Norsa has also assumed the chairmanship of the executive committee, and the brand and product strategy committee.

Ferruccio Ferragamo's son, Giacomo Ferragamo has stepped down as a member of the board in order to make a seat available for Norsa. However, he will continue as a manager with strategic responsibilities, focusing on his role as brand & product and communication director.

Norsa boasts many years of experience in the luxury industry, having notably served as CEO at Valentino. Most recently, he was vice chairman at Missoni.

Ralph Lauren Corp expects its fiscal 2021 results to be significantly hit by the COVID- 19 crisis. As reported by IBES data from Refinitiv, the company recently posted a bigger-than-expected quarterly loss as stores across the world were forced to close due to the Covid-19 pandemic.

The company’s shares, which have fallen over 30 per cent so far this year, fell 2.5 per cent in premarket trading. Its net revenue fell by 15.4 per cent to $1.27 billion in the fourth quarter ended March 28, but was slightly above analysts' average estimate of $1.22 billion.

The company reported a net loss of $249 million, or $3.38 per share compared with a profit of $31.6 million, or 39 cents per share, a year earlier. Excluding certain items, it lost 68 cents per share, while analysts were expecting a loss of 40 cents.

After 28 years on the Hong Kong Stock Exchange, sourcing giant Li & Fung has officially gone private as its shares were delisted from the Hong Kong Stock Exchange (HKSE) after they lost over 94 percent of their value since 2011.

As a privately held company, Li & Fung will be managed by the Fung family and Singapore-headquartered global logistics warehouse operator and investor GLP Pte Ltd. The Fung family will retain a controlling share of the company with 60 percent of the voting shares.

Privatization of the company was prompted in part by Li & Fung’s fall from its perch as the leading middle man facilitating manufacturing and trade between factories in mainland China and brands and consumers around the world. As supply chains developed new demands and the value of the middleman waned, the company struggled to pivot, particularly as online shopping started to step into brick-and-mortar retail’s territory, and its volumes and profits took a hit.

Its focus now will be to create the digital supply chain of the future. The 114-year-old company is poised to put all of its efforts into a transformation that will empower it to deliver on the modern supply chain’s new demands.

Lacoste has appointed Robert Aldrich and Pedro Zannoni as the Chief Executive Officers of the North America and Latin America Regions respectively. Both will report to Jean-Louis Delamarre, Executive Vice-President Global Markets & Distribution.

Robert Aldrich started his career with Giorgio Armani where he held various commercial positions. He then joined the Ermenegildo Zegna Group in 2006, where he was Executive Vice President Wholesale, CEO of the North America region, and then CEO of the Americas region.

Pedro Zannoni has held various commercial positions within the Amer Sport, Babolat and Puma groups, before joining the Adidas Group in 2013, where he was successively Senior Commercial Director for Brazil and then Vice President Reebok for the Latin America zone. Since 2018, he has been President of the Latin American zone for ASICS.

Respondents to a recent survey by Textile Excellence viewed cost cutting as the most important strategy to overcome the current crisis and emerge strong. Along with cost cutting, 29.45 per cent respondents also listed other measures such as: product development and innovation, improving efficiency, increased emphasis on marketing and sales both in domestic and export markets, fund management and cutting production, as important to deal with the situation. Around 24.80 per cent of respondents preferred to wait and watch how the scenario emerges before deciding on a strategy.

Nearly 97 per cent respondents said the lockdowns imposed by the government across the country has impacted their production by 50 to 100 per cent. Some textile and related mills have begun partial production, However, around 30 per cent believe they would be able to achieve full production by July, 23 per cent by September, 20 per cent by next month, 12 per cent by November. Only 5 per cent respondents feel they may get to full production by June.

For the full financial year 2020-21, 43 per cent of the respondents expect 30 per cent of their production to be impacted, while 39 per cent expect 50 per cent of it to be impacted. Twenty seven per cent of the respondents also expect the lockdown to lead to 35 per cent job losses in the industry.

The Association of Indian Medical Device Industry (AiMeD), has urged P D Vaghela, pharma sectary and chairman of the empowered committee of essential medical equipment to open up exports of surgical three-layer masks and N95 respirator masks as the country now has a surplus capacity.

In his letter, Rajiv Nath, Forum Coordinator, AiMeD wrote manufacturers of these masks have been either stopping or slowing down their production since the last 15-20 days as they have unsold inventory amid falling demand. The prices of these masks are also falling as clients in public and private health care prefer to buy lower cost 2 and 3 layer masks or non-standard quality without nose clip.

India had banned the export of all kinds of masks in March. In mid May, however, the director general of foreign trade allowed the exports of non-medical category masks like those made of cotton, silk, wool and knitted materials. The industry said the government needs to stress on proper certifications for masks and other protective gear as export of sub-standard quality products can earn a bad name. The final decision on this is expected within a next few days.

The Commerce and Industry Ministry plans to initiate an anti-dumping investigation on polyester yarn originating in China, Indonesia, Nepal and Vietnam on May 21, 2020. It mainly involve products under Indian customs code 55092100.

Imports of polyester single yarn by India totaled 64kt in 2019 with 46 per cent coming from Indonesia and 30 per cent from China. However, the imports from the countries involved in the investigation-China, Indonesia, Vietnam and Nepal- accounted for 99 per cent of total polyester single yarn imports of India, which nearly covered all polyester single yarn imports.

During the pandemic, demand for polyester single yarn was bearish both in India local market and overseas, and Indian spinners suffered much. By initiating the anti-dumping investigation at this time, the Indian government aims to protect and support local spinners. It also plans to change import patterns to enable Indian local spinners to occupy the market.

China’s polyester single yarn exports amounted to 218kt in 2019, out of which about 21kt was exported to India. The anti-dumping investigation will impact these exports as the export orders are already sporadic and the investigation will cause more problems. As a whole, the anti-dumping investigation may reduce China’s exports of polyester single yarns to India are expected to reduce.

At the earliest, Hugo Boss expects its business to recover only by the third quarter of current financial year as stores remain closed. Conditions for the brand are particularly tough in Europe and America which account for about 85 per cent sales and which are still hit by store closures and restrained consumption patterns. The brand expects second quarter sales to fall by at least 50 per cent even though all its stores have reopened in China and are gradually reopening elsewhere.

The brand has decided on a wide range of measures to free up additional cash flow of around €600 million. It plans to reduce its investment budget for the current year, which was expected to be around €150 million, by around one third. This includes postponing planned store openings and renovations and placing a temporary freeze on non-essential IT investments. Also, the company will reduce inventory inflow by at least €200 million in fiscal 2020.

All Pakistan Textiles Processing Mills Association (APTPMA) recently demanded a waiver in payments of EOBI, SESSI/PESSI and taxes & levies for export sectors for March to June 2020 from the Pakistan government.

It also demanded the introduction of the Self Registration and Assessment Scheme from July 2020 onward without any surveillance and post audits. EOBI & SESSI cards should be given to workers. This will increase voluntarily registration benefiting both employees and employers.

Further, APTPMA demanded immediate suspension of export development surcharge and mentioned that 0.25 per cent this is deducted from export proceeds of the exporters. This increases the cost of doing business of the exporters. Huge amount of EDF collected by Government is available in its kitty.

APTPMA proposed that government should suspend collection of Export Development Fund (EDF) surcharge till the huge unutilized amount of EDF is exhausted. This will make the industry competitive.