Pure London, the UK's largest Festival of Fashion, is set to dominate Olympia London in just two weeks. The event will feature an extensive array of exhibitors, including several brands launching themselves into the UK market. Notable debuts include Twin by Tare Issacs, Enorsia, Poetiron, Hoodies & Stones, Wear Evelin, Yui-ga Dokson, FLIP, Rad Planet Friendly Industries, Jocie Juritz Collection, Kunor Diamonds, Eno Eco, and a collaborative effort from Ubere Mama. 

Gloria Sandrucci, Event Director at Pure London, expressed her pride in the number of brands choosing the festival as their UK launch platform. With an extensive audience of buyers and visitors from around the world, Pure London facilitates connections between these industry professionals and a multitude of exciting brands. 

The event offers trend reports, styling sessions, and leading seminars to assist brands venturing into the UK market. The lineup of new brands this season promises to impress attendees, and Sandrucci eagerly awaits their reactions when doors open on July 16th. The womenswear section will showcase Twin by Tare Isaac, known for its authentic Nigerian cultural influence. 

Hoodies & Stones will present an alternative to Western fashion by incorporating traditional African culture into their designs. Poetiron offers a unique blend of art and fashion, turning clothing into wearable art pieces. FLIP, a reversible and unisex brand, joins the new POP Destination, while the Jocie Juritz Collection presents imaginative ankle boots featuring cat illustrations. 

Eno Eco introduces an innovative collection of eco-conscious bras and swimwear designed for post-unilateral mastectomy wear, emphasizing sustainability and self-acceptance. Pure London will return to Kensington Olympia from July 16th to 18th, 2023, featuring over 250 brands unveiling their latest collections.

The EU Commission introduces regulations to foster a sustainable and circular economy in the textile sector. Aligned with the EU Strategy for Sustainable and Circular Textiles, the proposal holds producers accountable for the entire lifecycle of their products and encourages sustainable management of textile waste across the EU. 

The proposal aims to transform the industry by accelerating separate collection, sorting, reuse, and recycling of textiles. 

This will increase the availability of used textiles, create local jobs, reduce consumer costs, and mitigate environmental impacts. A key element is the mandatory and harmonized Extended Producer Responsibility (EPR) schemes for textiles in all EU Member States. 

Producers will cover the costs of textile waste management, incentivizing waste reduction and circular product design based on environmental performance. The proposal includes common EU rules for extended producer responsibility, facilitating separate textile collection by 2025. 

Producer contributions will fund investments in infrastructure for collection, sorting, reuse, and recycling. The goal is efficient sorting for reuse, prioritizing recycling for non-reusable items. Social enterprises involved in textile treatment will benefit from expanded business opportunities and a larger second-hand market. 

The proposal promotes R&D in innovative technologies like fiber-to-fiber recycling to enhance circularity. To combat illegal textile waste exports, the proposal clarifies waste and reusable textile definitions. It aligns with forthcoming waste shipment regulations, ensuring environmentally sound waste management during exports. 

The Waste Framework Directive revision also addresses food waste separately. The European Parliament and Council will review the proposal through the legislative procedure.

Apparel Group, a dominant force in the fashion and lifestyle industry, has proudly announced an exciting collaboration with Alinma Bank, the region's premier center for innovative, Shariah-compliant banking services. 

This strategic alliance opens new avenues for Alinma Bank customers to redeem their hard-earned loyalty points at all Apparel Group store locations across Saudi Arabia (excluding Adidas and R&B brands). 

The groundbreaking partnership aims to provide Alinma Bank customers with unparalleled convenience and flexibility in utilizing their loyalty points across Apparel Group's diverse brand portfolio in the Kingdom. 

With this unique initiative, customers will enjoy a seamless and versatile shopping experience. "We are thrilled to unveil our strategic partnership with Alinma Bank, a collaboration that will redefine the retail landscape and deliver greater value to our esteemed customers," declared Mr. Neeraj Teckchandani, CEO of Apparel Group. 

He further emphasized, "In a time when customers demand more from their shopping journeys, we are responding with an innovative fusion of retail and finance. This strategic alliance not only enhances our customer engagement but also signifies a significant transformation in our business model, aligning our goals with the evolving market demands. 

It paves the way for revolutionizing retail loyalty programs in Saudi Arabia." Effective immediately, Alinma Bank customers can visit any Apparel Group store to redeem their points, elevating their shopping experiences to new heights.

The impending gloom of a recession in 2023 may just be a false alarm as corporate mergers and acquisitions keep happening while inflation levels remain controlled with most countries bouncing back to post-pandemic days despite the geopolitical and other economic tensions. The US economy as a power-house that leads all others, is currently displaying strong signs of resilience. Although some industry segments may be shrinking under inflation, it seems to be a rolling recession where the overall economy does not stagger and bring a country down to its knees.

Layoffs and their after-effects are mainly happening in well-paying industries like technology and finance which have educated skilled professionals who are financially able to withstand these financial downfalls as they are not in a hand-to-mouth economic situation. Restaurants, hotels, construction companies, and other labour industries that hire locals and expats have actually been a major driver of job gains as consumers throng back in post-pandemic days staving off a recessional market.

“The common explanation for the no-show recession despite the 500 bps hike in federal funds rate is that consumers were still spending their excess savings from the pandemic. But once this cash is spent over the rest of this year, the thinking goes, a consumer-led recession is likely in 2024. Consumers’ excess savings of roughly $0.5 trillion currently is dwarfed by the net worth held by the ‘Baby Boom’ generation that is retiring. They have just started to spend it,” explains veteran industry market watcher, Edward Yardeni, Founder of Yardeni Research Consultancy to Bloomberg Media.

Deloitte report showcases many recent business deals

As per ‘Global Fashion & Luxury Private Equity and Investors Survey 2023’ report by Deloitte, the fashion and luxury industry had quickly rebounded in post-Covid years of 2021 and the first half of 2022 while registering business deals. Although continued recovery cannot be relied on and business can downshift quickly if inflation hits consumers, the time is probably not right now.

Last year, around 292 M&A deals were finalized in the luxury industry, as opposed to 284 in 2021 with eight more showing a 2.8 per cent increase. The biggest and the best deal was the $2.3 billion acquisition of the Tom Ford label by US beauty giant Estee Lauder. Other M&A deals in the personal luxury goods sector of the industry accounted for 43.2 per cent although the number was down by 30 last year. The general apparel and accessories segment also did well in terms of acquisitions with a total of 77 operations concluded in 2022 which was lesser by 11 compared to 2021, which by far has been the most profitable post-Covid year so far. 

Fashion and luxury segment remain attractive for investors

In general, sales in the luxury hotel segment led the 2022 ranking with 98 acquisitions, followed by apparel and accessories and then by the furnishing and furniture category, which recorded 36 deals. Most US industry analysts remain buoyant as the impending threats are still far away on the horizon and many factors such as the banking turmoil after the collapse of Silicon Valley Bank last spring and political fights such as the fight in Congress over the government’s borrowing limit have all been almost resolved. 

The Deloitte report has estimated the luxury industry will be potentially attractive to eight out of every ten investors in 2023 in the fashion and luxury segment. Most investors’ interest will be concentrated in cosmetics & fragrances (63 per cent), apparel & accessories manufacturing (50 per cent), furniture (50 per cent), and watches & jewelry (33 per cent), with personal luxury goods still one of the most attractive categories for investors.

However, investors are favouring the lean and mean look with wanting to keep expenses low by investing only in small-sized companies and  medium-sized firms, as they remain watchful of an uncertain economic future and build their bridges accordingly over troubled waters.

Leading fashion and lifestyle company, Apparel Group announced the global debut of Steve Madden's ground-breaking flagship concept store design in the Middle East region. 

Two new Steve Madden stores have opened their doors in Kuwait spanning  2,164 square feet at Avenues Mall and 1,593 square feet at Assima Mall, these stores introduce a fresh and captivating retail concept that aims to elevate the customer experience through ingenious designs and unique visual merchandising. The strategic expansion follows the success of Steve Madden's existing stores at Al Kout Mall and Al Khiran Mall, bringing the brand's presence to a total of 25 stores across the GCC. 

This achievement showcases the brand's popularity and robust growth in the region, further strengthened by its partnership with Apparel Group reinforcing its commitment to deliver global fashion experiences to its customers. 

This ambitious growth strategy positions the brand at the forefront of the ever-evolving retail fashion industry. 

Sri Lanka's garment exports faced a significant setback in January to May 2023, recording a sharp decline of 16.5% to reach $1.84 billion. The challenging global economic conditions contributed to this decline, as revealed by data released by the Central Bank of Sri Lanka. 

Comparatively, the previous year saw garment exports amounting to $2.21 billion during the same period. May 2023 alone witnessed a 14.2% decrease in garment exports, reflecting the ongoing global economic slowdown. In addition, textile exports from Sri Lanka fell by 3.1% year-on-year, totaling $144.6 million in the first five months of 2023. 

The  report further disclosed that exports of other manufactured textile articles reached $42.7 million, marking a decrease of 19% during the same period. 

Despite the decline, textiles, garments, and other textile articles accounted for 53.07% of all industrial exports from Sri Lanka. Total textile product exports summed up to $2.03 billion, while the country's overall industrial exports reached $3.83 billion between January and May 2023. 

Furthermore, Sri Lanka experienced a substantial drop of 28.8% in textile imports, amounting to $999.9 million. Similarly, clothing and accessory imports declined by 35.1% to $71.2 million during the same period.

UPM Biochemicals, in partnership with Vaude, a leading sustainable outdoor apparel supplier, aims to revolutionize the textile industry by producing eco-friendly outerwear made with bio-based chemicals. 

Their joint effort will introduce the world's first fleece jacket constructed from wood-based polyester, marking a significant stride towards closing the gap between recycled fibers and sustainable virgin fibers in the fashion industry. 

Traditionally, polyester resin contains 30% monoethylene glycol (MEG) derived from crude oil. However, UPM and Vaude 's innovative approach will entirely replace this component with a novel bio-monoethylene glycol called BioPura, developed by UPM. 

This drop-in solution seamlessly integrates into existing polyester manufacturing processes due to its molecular compatibility with conventional MEG. To bring this vision to life, a collaboration across the entire value chain is crucial. Indorama Ventures, a prominent chemical company, will polymerize and spin a polyester yarn containing UPM's BioPura BioMEG at its German facility in Guben. 

The resulting yarn will be processed by Pontetorto, a renowned textile manufacturer in Prato, Italy, to create a unique bio-based polyester fabric. Finally, VAUDE will utilize this fabric to craft the ultimate sustainable garment. 

VAUDE products are renowned for their timeless design, robust materials, and ease of repair. By incorporating UPM's bio-based materials, Vaude aims to unlock the potential of renewable circularity, prioritizing reduced resource consumption, renewable sourcing, and the ability to keep products in the value chain even after their useful life. 

The partnership between UPM Biochemicals and VAUDE signifies a significant step towards a future where sustainable fashion becomes the norm, reducing reliance on fossil fuels and minimizing environmental impact.

In the real world, despite pledges and commitments, the fashion industry continues its various strategies and tactics to sell more. Social influencers are working overtime recommending ‘look of the day’ and ‘look of the occasion’. Digital engagements have found newer avenues like the Metaverse and other augmented-reality based experiences. AI has been harnessed to provide well-executed prompts to purchase more through bespoke recommendations following specific algorithms. In short, fashion is marketing itself to the point where gullible consumers find themselves with pointless purchases through impulse buying. 

The UN is rightly concerned. It does not see the outcomes of the Paris Agreement or the much-celebrated and elaborate COP gatherings every year. The time has come for fashion to walk the talk on being a sustainable global industry. The UN acknowledges the steps fashion industry leaders and policymaking bodies in different parts of the world are implementing but doesn’t see why brands must promote over-consumerism, knowing the consequences.

The Sustainable Fashion Communication Playbook comes into play

The Sustainable Fashion Communication Playbook, co-published by UNEP and UN Climate Change, provides a shared vision, principles and guidance on how to align consumer-facing communication across the global fashion industry with sustainability targets. It shows how fashion communicators – marketers, brand managers, image-makers, media, influencers and beyond  can help advance towards the Paris Agreement and Sustainable Development Goals through countering misinformation, reducing messages perpetuating overconsumption, redirecting aspiration to more sustainable lifestyles, and empowering consumers to demand greater action from businesses and policymakers.

It acknowledges the fashion sector as one of global importance but struggling to address its wide-reaching impacts, with unsustainable patterns of consumption and production contributing directly and significantly to the triple planetary crisis, as well as the interlinked issue of social injustice. While addressing production impacts is essential, doing so alone will not be sufficient to transform the industry in time. Shifting consumption patterns must be a core priority that means confronting the dominant linear economic model and its accompanying narrative of newness, immediacy and disposability. 

The playbook invites all fashion communicators to the table, emphasizing for the first time in the sector the importance of the role of storytellers as enablers and drivers of systemic change. Steven Stone, Deputy Director, Industry and Economy Division, UNEP has officially stated addressing consumption is a central part of reducing climate impact - from the volume of new products purchased to the carbon footprint of how we use these products. We must work together to align all stakeholders across the fashion sector towards the 1.5-degree pathway of the Paris Agreement. 

Fashion must lead sustainability conversations 

Fashion possesses one of the most powerful marketing engines on earth. Brands, designers, image-makers and the media have a major influence on the identities, values and actions of billions of people across all segments of society. This in turn impacts consumption patterns, which is a central factor in reducing the climate impact of the sector. 

UNEP is examining the role of sustainable fashion communication as a highly visible engine for lifestyle change and consumer education, and a core component of achieving systemic change in the sector. Steven Stone reiterated that the aim is to shift the fashion narrative from one of extraction, exploitation and disposable consumption, towards regeneration, equity and care by increasing consumer awareness, industry accountability and policy breakthroughs. 

The first milestone in this work was a communication commitment added to the upgraded UNFCCC Fashion Industry Charter for Climate Action during COP26. What will follow is a guideline on how to align consumer-facing communication across the global fashion industry to sustainability targets, with examples of best practices for implementation and measurement.

The Indonesian textile industry, specifically the apparel sector, witnessed a remarkable surge in exports, reaching a value of US$700.7 million in May 2023. This represents a substantial monthly growth of 45.92% compared to the US$480.2 million recorded in April 2023. 

Retailers played a crucial role in this success by depleting their remaining clothing stocks from the Eid Al-Fitr production, which concluded in April 2023. Additionally, the ongoing implementation of the government's P3DN (Increased Use of Domestic Products) policy, supplying public school and government employee attire, prompted manufacturers to ramp up production. 

Despite this growth, the textile industry still faced challenges, primarily stemming from high import levels that hindered the absorption of domestic product sales. Adie acknowledged that the industry's performance has not yet reached its peak, although imports increased in May to 133,000 tons compared to 106,000 tons in April, leading to a surplus of textile stocks in the market. 

However, as the new school year commences, expectations are high for an improved performance in the textile industry.

Bangladesh's export earnings for the financial year 2022-23 reached $55.55 billion, according to data released by the Export Promotion Bureau. However, this figure fell short by 4.21% of the government's target of $58 billion. 

Despite the shortfall, there was a growth of 6.67% or $3.47 billion compared to the previous year's earnings of $52.08 billion. In June 2023, export earnings experienced a year-on-year growth of 2.51%, totaling $5.03 billion, compared to $4.90 billion in June 2022. Nevertheless, June's earnings were 9.61% below the government's target of $5.56 billion. 

Notably, the export earnings from readymade garments in FY23 increased by 10.27% to $46.99 billion, while earnings from woven garments grew by 9.65% to $21.25 billion. Additionally, earnings from knitwear exports rose by 10.87% to $25.73 billion, as per the EPB data. 

Overall, Bangladesh's export sector demonstrated growth in the financial year, albeit falling short of the government's set targets.