The 42nd HKTDC Hong Kong Watch & Clock Fair and 11th Salon de TE recently concluded, with nearly 15,000 buyers from 95 countries and regions attending the physical exhibitions. The online exhibitions continued until 16 September.

One of the highlights of the fair was the announcement of the winners of the Hong Kong Watch Design Competition. Tam Kwok Tung's Scroll Bar won the Open Group, while Wong Yin Yeung's TANZZLE won the Student Group.

The event also featured the Hong Kong International Watch Forum and Asian Watch Conference, which discussed the industry's latest trends and outlook. Key takeaways include:

• The watch and clock industry in Mainland China is recovering, with profitability trends improving and the market trending upwards.

• Overseas makers' prices and volumes are also growing, with Japan, Germany, and Switzerland all experiencing positive results in the first half of 2023.

• Sustainability is shaping the future of watchmaking, with global brands integrating ESG principles into every facet of their operations.

• Domestically established Chinese watch brands are gaining global recognition and prominence, with Shenzhen emerging as a major hub for watch design and production.

• Independent Swiss watchmakers are embracing innovative design concepts and development directions.

The event was a success, highlighting the resilience and innovation of the watch and clock industry. The insights shared at the conferences provide valuable guidance for businesses as they navigate the changing market landscape.

The global textile staples market is projected to grow at a CAGR of 5.5% from 2023 to 2033, reaching a value of $290.6 billion. This growth is being driven by the increasing consumption of textile staples in various industries, such as apparel, general and leisure, sportswear, and interior flooring.

The apparel segment is expected to be the largest market for textile staples, accounting for over 50% of sales. This is due to the growing demand for clothing, especially in developing countries. The interior flooring segment is also expected to grow rapidly, as more and more people are using textile staples in their homes.

The Asia Pacific Excluding Japan (APEJ) region is expected to be the largest market for textile staples, followed by North America and Europe. This is due to the high population and growing disposable income in these regions.

The increasing preference for sustainable textile materials is also driving the growth of the textile staples market. Consumers are becoming more aware of the environmental impact of synthetic fibers, and are shifting towards natural fibers such as cotton, jute, and wool.

The key challenges facing the textile staples market include the high cost of production and the competition from synthetic fibers. However, the market is expected to continue to grow in the coming years, driven by the factors mentioned above.

Here are some of the key points from the original text that I have included in the rewritten text:

• The global textile staples market is projected to grow at a CAGR of 5.5% from 2023 to 2033.

• The apparel segment is expected to be the largest market for textile staples, accounting for over 50% of sales.

• The Asia Pacific Excluding Japan (APEJ) region is expected to be the largest market for textile staples.

• The increasing preference for sustainable textile materials is also driving the growth of the textile staples market.

• The key challenges facing the textile staples market include the high cost of production and the competition from synthetic fibers.

In the ever-evolving landscape of artificial intelligence, businesses are eagerly embracing the vast opportunities presented by foundation models, machine learning, natural language processing, and the acceleration of generative AI workloads. Foundation models are marking a turning point in AI, with nearly 80% of enterprises currently engaged in or planning to harness these models and adopt generative AI, according to a recent IBM study. 

AI and business leaders are also focused on harnessing the potential of responsible AI to drive business growth. The adoption of pre-trained foundation models can unlock exciting use cases and deliver unprecedented time-to-value. 

It is an enlightening knowledge-sharing session under the theme "AI for Business: Creating Competitive Advantage with watsonx." This virtual event will take place on September 26th, from 2:30 PM to 3:30 PM SGT. 

In the dynamic textile industry, maintaining a leading position demands an unwavering commitment to innovation and impeccable quality. Its textile enterprise takes immense pride in its profound comprehension of the industry's ever-evolving needs. 

What distinguishes its Double Face Woolen Fabric?

1. Dual Smoothness: This fabric doesn't offer a single smooth surface but rather two exceptionally smooth ones, providing a truly distinctive tactile sensation. The remarkable softness against the skin underscores our resolute dedication to comfort and superior quality.

2. Sustainability at the Core: We stand at the forefront of sustainable textile technology. Crafted from recycled wool, our Double Face Woolen Fabric perfectly aligns with the values of environmentally-conscious consumers. It's a choice that not only feels gratifying but also contributes positively to the environment.

3. A Trusted Benchmark: Our unwavering commitment to quality has garnered the trust of industry leaders like C&A. In fact, C&A integrated our Double Face Woolen Fabric into their designs two years ago, setting an extraordinary benchmark for its excellence. Since then, its fabric has undergone continuous refinement and rigorous testing, consistently surpassing the loftiest standards, and ensuring it consistently exceeds expectations.

4. Versatile Design: Whether you're crafting high-end fashion pieces or cozy winter garments, this fabric offers unparalleled versatility. It serves as a blank canvas for your creative pursuits, enabling you to fashion pieces that deeply resonate with your audience.

5. Endless Creative Potential: With the Double Face Woolen Fabric, you're not merely procuring a material; you're gaining entry to a world of boundless design possibilities. Unleash your creativity with the assurance that this fabric can breathe life into your visions.

The H&M Group's net sales increased by 6% to SEK 60,897 million (57,450) in the third quarter of 2023, compared with the corresponding period last year. In local currencies, net sales were flattish compared with last year. Excluding Russia, Belarus and Ukraine, the increase was 8 percent in SEK.

The work towards the company's goal of reaching a 10 percent operating margin in 2024 is going in the right direction. Profitability and inventory levels have been prioritized in the quarter.

The amount is provisional and may deviate slightly from the nine-month report that will be published on 27 September 2023.

The VIEW Autumn.Winter 24/25, hosted by Munich Fabric Start, concluded successfully at its new location, Motorworld, on September 14th. This fully-booked event featured over 300 suppliers showcasing their offerings for Autumn and Winter 2024/25. reVIEW was organized into four distinct sections: Fabrics, Design Studios, Additionals, and Denim & Sportswear, catering to a wide range of fashion industry needs.

Key industry players, including Bogner, Hugo Boss, and Marc Cain, attended the event. The new format, serving as a platform for both ordering and collection development, garnered positive feedback. However, the timing of the event in September prompted diverse opinions within the industry, prompting the organizers to consider future scheduling based on market needs.

The event was notable for its role in facilitating specific negotiations, with discussions often centering on pricing. The traditional divide between premium and budget brands is blurring, with sustainability emerging as a critical topic for exhibitors and buyers alike.

Munich Fabric Start Exhibitions GmbH, known for its flexibility, has confirmed upcoming dates to meet industry demands. The preVIEW event is set for November 28th and 29th, 2023, offering insights and ordering opportunities for Spring/Summer 2025 collections. Subsequently, from January 23rd to 25th, 2024, Munich will host Munich Fabric Start and Bluezone.

The organizers are conducting a thorough analysis of insights from recent events to determine optimal future dates. Maintaining a dialogue with exhibitors and visitors remains central to aligning the trade show system effectively with current market requirements and providing an efficient platform for the fashion industry.

Textile and apparel circularity is a vital part of the sector’s sustainability goals and practicing circularity in textiles has significant implications for the Earth’s natural resources. When textile production is developed in a manner that links it to reverse logistics, capacities could then improve the supply chain resilience by connecting production and disposal in one loop. 

In a step to strengthen circularity practices in this sector, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) and Aditya Birla Fashion and Retail Limited (ABFRL) are collaborating on “Approaches for Circular Textiles and Apparel Industry in India (ACTAII)” as part of the Indo-German Development Public-Private Partnership program (develoPPP). The ACTAII project aims to help India’s textile and apparel industry embrace circular economy principles by developing circular economy guidelines, circularity training modules, and collaborating with startups through an innovation challenge. 

A baseline study was just concluded and the highlight of the report was that the Indian textile and apparel sector must make more strides towards the circularity of its produce. Prajakta L Verma, Joint Secretary, Ministry of Textiles, Government of India said in response to this report “The Textile and Apparel sector is a major economic sector in India. Thus, the integration of sustainability and circularity principles in the value chain is imperative for the larger good of our planet and its people.”

Textile circularity’s current situation in India

As per the baseline report, India is still in the early stages of development in textile circularity. While there is a growing awareness of sustainable practices in the textile industry, there are still challenges to be addressed in order to implement circularity in the textile value chain. “This report includes first-hand data on India’s textile and apparel industry, including current practices on sustainability and circularity, existing gaps and challenges and potential areas for pilot implementation from innovations. The study addresses textile industry circularity and stakeholders at each step of the value chain, including design, manufacturing, distribution, retail sale, and consumer use,” says Kartikeya Sarabhai, Director, Centre for Environment Education (CEE). 

The lack of infrastructure and technology are two major challenges that limit progression of circularity in the sector. In addition, the industry has limited government support for undertaking circularity. Moreover, the consumers are also not inclined towards buying sustainable products. Efforts are underway to address these challenges and promote textile circularity in India; companies such as Birla Cellulose, Reliance Industries, PurFI, Kishco and many others are working on textile recycling and repurposing. 

The picture of a dynamic roadmap

The local textile sector in India has much to do and the baseline report has suggested multiple points of action. The innovation challenge is to be used to motivate textile manufacturers to prioritize at least six action points from a list of identified focal areas of textile production – these actions will then be used as benchmarks for an innovation challenge from startups that bring diverse next-generation solutions. A jury will evaluate the three most suitable circularity practicing businesses for pilot scale implementation emic institutions such as NID and NIFT, research organizations, subject expert agencies and textile manufacturing conglomerates. This white paper will enable the government make informed decisions to help create initiatives for the Indian T&A sector fast forward its circularity goals. 

Another key element on the roadmap for achieving circularity goals is conducting trainings workshops for not only management but also factory workers with every part of the textile value chain. Along with such awareness development initiative, the baseline report recommends creating a manifesto for India’s textile circularity. The insights provided by the baseline report would go towards creating a holistic framework that includes every aspect of the textile’s lifecycle which would affect its design, supply chain and waste management as well as engaging consumers and stakeholders alike. 

Lenzing AG faces a challenging economic landscape in 2023, as markets crucial to their operations continue to underperform, causing them to reevaluate their outlook. Due to the ongoing market stagnation, the previously projected earnings seem unlikely to materialize. Lenzing Group is revising its earnings forecast for 2023, anticipating an EBITDA ranging from EUR 270 million to EUR 330 million.

CEO Stephan Sielaff expressed concern over the delayed market recovery and emphasized the importance of their cost reduction efforts initiated in November 2022. In response, they are launching a comprehensive value creation program to boost profitability, cash flow, and leverage growth opportunities in the fiber markets through strategic sales activities.

CFO Nico Reiner emphasized the program's role in enhancing Lenzing's resilience in future market challenges. Detailed information about the value creation program will be disclosed alongside quarterly results on November 3, 2023.

In a significant move towards revolutionizing the fashion industry, the Good Fashion Fund, an initiative spearheaded by the Laudes Foundation, The Mills Fabrica, and FOUNT, is channeling a USD 2.5 million investment into Sri Kannapiran Mills Limited (SKML), a prominent Indian cotton yarn and sustainable denim fabric manufacturer. This strategic collaboration aims to bolster SKML's commitment to sustainable practices by upgrading crucial equipment in three of its factories. The infusion of capital and expertise from the Good Fashion Fund will not only facilitate SKML's ability to meet escalating production demands but will also enhance its global competitiveness while minimizing environmental impact.

This partnership underscores the Good Fashion Fund's unwavering dedication to addressing sustainability challenges within the fashion sector. As the fund takes the lead in greening the industry, it empowers manufacturers like SKML to champion sustainable solutions, forging a path toward a more eco-conscious and socially responsible fashion landscape. 

Jayanth Kashyap B, Investment Lead of Good Fashion Fund, invites industry enthusiasts to explore how this collaboration is paving the way for a greener fashion industry and revolutionizing the manufacturing sector through impactful equipment and technologies. 

Success stories of supported manufacturers showcase notable strides in sustainability, reduced environmental footprints, and positive social contributions. Good Fashion Fund's dedication to this transformative journey marks a pivotal moment in the global fashion landscape.

Candiani Denim, an Italian premium denim manufacturer, will officially launch its Coreva Design brand on September 19 during Milan Fashion Week. 

The brand offers only natural and biodegradable stretch denim collections made from Coreva technology, which is patented exclusively worldwide by Candiani Denim. Coreva harnesses the elastic properties of a plant material, derived from natural rubber, to provide comfort without the need for synthetic yarns. 

This particular stretch denim cloth, which uses no plastics, reduces its ecological impact at the end of its life by degrading in less than four months instead of 200 or more years.

Coreva Design uses fabrics that are the result of regenerative agriculture practices, the most responsible and conscious way of farming, which puts the properties and health of the soil first. Its collection consists of three distinctive and dynamic areas dedicated to leisure, premium denim and ready-to-wear. 

The collection offers various styles including 5-pockets, worker trousers, chinos, denim jackets along with maxi shirts, as well as cargo, miniskirts, tops with maxi pockets, chemises and overcoats. Completing the selection are sweatshirts, hoodies and joggers made from an exclusive fabric of the Coreva family that is extremely soft and available in écru, indigo, gray and terracotta colors.

The brand will be managed through the company's executive offices in Mentana Square, next to the company's Candiani Denim Store. Artistic direction of the project's communication will involve Matteo Ward and Wråd Design Studio.