Textile Yarn Market is estimated to be valued at USD 14.4 billion in 2023 and is projected to grow at a CAGR of 5.1% from 2023 to 2028, reaching USD 18.5 billion. The expanding middle class in emerging economies is a key factor fueling the demand for textile yarn, as affordable and fashionable clothing becomes increasingly sought after, according to a report by Markets and Markets.

Technological advancements have also played a crucial role, enabling the development of specialized yarns with enhanced properties such as moisture-wicking, antimicrobial, and eco-friendly characteristics. These innovations have driven the demand for technical textiles across various sectors including apparel, medical, sports, automotive, and aerospace.

The plant segment is expected to exhibit the highest growth during the forecast period, driven by the rising demand for sustainable and eco-friendly products. Plant-based yarns like cotton, hemp, linen, and bamboo, derived from natural sources, are preferred by environmentally conscious consumers due to their biodegradability, renewability, and lower carbon footprint.

Within the artificial yarn category, the polyester segment is anticipated to dominate the market in 2023. Polyester yarn's exceptional durability, strength, and resistance to abrasion, wrinkles, and stretching make it suitable for diverse textile applications. Its cost-effectiveness further contributes to its popularity, particularly in mass production and budget-conscious markets.

Minister of Commerce Pan Sorasak called on all relevant parties to cooperate in exploring the feasibility of establishing a free trade agreement (FTA) between Cambodia and Japan, driven by a significant increase in Cambodian exports to Japan this year. 

Speaking at a trade facilitation and digitalization seminar attended by business leaders from both nations, the minister emphasized the need to strengthen the full implementation of the Regional Comprehensive Economic Partnership Agreement (RCEP) and the ASEAN-Japan Comprehensive Economic Partnership Agreement (AJCEP). 

He encouraged the chambers of commerce in both countries to consider signing a memorandum of understanding to enhance economic, trade, and investment cooperation. With Cambodia's exports to Japan reaching $442 million in the first five months of this year, the minister highlighted the potential FTA's benefits in expanding market access, driving economic development, and generating income and employment opportunities. Cambodia currently holds bilateral FTAs with China and South Korea, and recently announced a Comprehensive Economic Partnership agreement with the United Arab Emirates. Prime Minister Hun Sen also praised the growing trade relationship with Japan, emphasizing its significance as the largest buyer of Cambodian goods. 

The countries are celebrating the 70th anniversary of diplomatic ties in 2023, marking a new era of a comprehensive strategic partnership that is expected to attract more Japanese investment and create a broader market for Cambodian products. 

In a meeting with the Japanese ambassador, the Minister of Tourism emphasized the importance of resuming flights by All Nippon Airways to facilitate bilateral trade. 

The Cambodia Chamber of Commerce plans to sign a memorandum of understanding with its Japanese counterpart to further strengthen investment and trade ties.

Eight modest fashion shows took place on May 20 during Modest Fashion Day within the International Economic Summit ‘Russia – Islamic world: Kazan Forum’, powered by Russian Fashion Council and Digital Talents Dubai Milano. 

15 designers from Indonesia, Kazakhstan, Senegal, as well as 5 Russian cities presented their collections, including Abzaeva (Ulan Ude, Russia) / Gapanovich (Murmansk, Russia), Aida Kaume NOVA (Kazakhstan), HADÁMI (Makhachkala, Russia), SAHARA (Ufa, Russia), SANET / Keewa (Indonesia), Su.Su (Kazan, Russia), UMMAYA (Grozny, Russia), Senegal Fashion Show: Couleur Afrique, Touty, Kamal Raw, Edg.mery, SidyCounda, and Al Gueye (Senegal). 

The event was arranged in Korston- Kazan – a hotel, shopping, and entertainment mall.

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Eight modest fashion shows took place on May 20 during Modest Fashion Day within the International Economic Summit ‘Russia – Islamic world: KazanForum’, powered by Russian Fashion Council and Digital Talents Dubai Milano. 

15 designers from Indonesia, Kazakhstan, Senegal, as well as 5 Russian cities presented their collections, including Abzaeva (Ulan Ude, Russia) / Gapanovich (Murmansk, Russia), Aida KaumeNOVA (Kazakhstan), HADÁMI (Makhachkala, Russia), SAHARA (Ufa, Russia), SANET / Keewa (Indonesia), Su.Su (Kazan, Russia), UMMAYA (Grozny, Russia), Senegal Fashion Show: Couleur Afrique, Touty, Kamal Raw, Edg.mery, Sidy Counda, and Al Gueye (Senegal). The event was arranged in Korston-Kazan – a hotel, shopping, and entertainment mall.

Senegal Fashion Show: Couleur Afrique, Touty, Kamal Raw, Edg.mery, Sidy Counda, and Al Gueye (Senegal)

For the first time, 6 designers from West Africa, already well-known in their home region, demonstrated looks from their collections to the Russian audience. This show was supported by Kalinka, Russian culture center. 

Designers from Senegal make clothes using traditions as an inspiration, from natural materials popular in West Africa, including Bazin, Manjack, and cotton waxprint materials. Their looks are reminiscent of traditional African wear – bubu, as well as vividly colored sarafans that Russians are familiar with, but with common local prints. 

Catwalk: https://disk.yandex.ru/d/GBY4MVvFCYzP0A

Su.Su (Kazan, Russia)

Su.Su, a Tatar clothing brand, brought to the catwalk a collection of linen and cotton dress-shirts, skirts, and bathrobes, all in pastel shades. The designer explained that in this collection they used only breathable and hypoallergenic fabrics – cotton, linen, tencel, and nettle cloth. Loose simply cut silhouettes with unique elements make movement especially comfortable.

Catwalk: https://disk.yandex.ru/d/ENIyluYm14WYTw 

Aida KaumeNOVA (Kazakhstan)

Aida KaumeNOVA brand was established in 2007, in Almaty, by Aida Kaumenova. Clothes made by this Kazakhstan-based designer are sold in 4 stores throughout the country, as well as across the globe – in the CIS countries, Europe, America, and Asia. The fashion house makes Luxe, Pret-a-porte and Mass-market wear.

After her education in Italy, the designer came back to Kazakhstan, willing to change the local attitude to traditional clothing. Many people thought of it as archaic, but Aida was positive that it can be fashionable, fit for modern life and conditions. She had no doubt that this Kazakh ethnic fashion can find its place in a modern wardrobe.

The new collection presented at Modest Fashion Day including dresses, skirts, jackets, and suits in the warm color palette, from pink and terra-cotta to brown and blue. The assortment of fabrics used included lace, and florals, and gaugre, as well as laconic restrained textiles.

Catwalk: https://disk.yandex.ru/d/kJ-Q4UJzC41Vlw 

UMMAYA (Grozny, Russia)

UMMAYA fashion house was established by designer Ummaya Akhmadova and her team in 2015, in Chechnya. Today, all of the brand’s wear is made in Moscow and at their own production site in Stavropol. Ummaya, the founder of the brand, was brought up in a traditional family, and that’s why she tends to classical and feminine austere silhouettes.

In particular, the brand aims to preserve, develop, and promote Muslim culture and traditions. The designer prefers hand-made embroidery, 3D applique, and lace to flow-line prints. Their collections include references to some works of art, too – mainly impressionists.  For her show at Modest Fashion Day, the designer chose motives of ancestral towers, typical for the Nakh architecture and common all over the North Caucasus, so to share the local atmosphere.  

Catwalk: https://disk.yandex.ru/d/MWJ8iVvG_2UQ6w 

SAHARA (Ufa, Russia)

The looks created by this modest fashion brand from Bashkiria stand out thanks to smooth silhouettes, bold prints and combinations. This is indeed an up-to-date take on traditional modest fashion wear. The collection of the brand comprises traditional clothes like abayas, hijabs, mullet pants, and some more modern pieces – dresses, skirts, shirts, pants, kimonos, and sportwear, including burkini swimming suits, accessories, and headwear. The designer experiments with denim and the casual style at the confluence with conventional fashion. 

Designer Zainab Sitdikova, the founder of the brand, outlined that her brand aims to offer Muslim women trendy and comfortable wear in compliance with their values, which at the same time will be good for modern life.

Catwalk: https://disk.yandex.ru/d/f6oZ_xos2PmyoQ 

HADÁMI (Makhachkala, Russia)

The Dagestan-based modest fashion brand HADÁMI was established in 2018 by two sisters – Khadizhat and Aminat Magomedrasulov. The concept of the brand is a new take on the modest clothes, which are no longer seen as austere wear for Muslim women. Today, modest fashion is more than a tradition. It is a lifestyle, based on the idea of one’s connection to their historical roots, of comfort, uniqueness and multilayerdness as the cornerstones of modern life. That’s why the looks designed by the brand attract secular women, too.

The collections are based on the game of local patterns. For instance, the last drop was dedicated to the image of a Didoan woman. Didoans are one of the indigenous highland peoples of Dagestan. For their new collection – ‘Original Look’ – the designers found inspiration in the poetry of Dōgen, a Japanese monk and philosopher from the 13th century. The drop comprises basic garments that easily complement each other and can fit into anyone’s stock of clothes – skirts, dresses, suits, and of course the unconventionally cut trenches, which have already become the brand’s style. To make this collection, the brand mainly used natural colors & fabrics.

Catwalk: https://disk.yandex.ru/d/M6bMqg79vIWejg

SANET / Keewa (Indonesia)

SANET SABINTANG, a designer from Indonesia, was inspired by the clothes worn by students from Muslim girls boarding schools – there were long mantles, sarong skirts, and oversize blazer jackets. According to the designer, today there are many Muslim boarding schools in Indonesia today, which help girls to build careers and take a more active part in politics. This is why their lifestyles change – and the fashion follows this change, too. At the same time, the existing ethical and cultural values remain in place.

The key highlight of the presented collection was layering. The textiles used were cotton, linen, viscose, as well as different fabrics treated with Shibori Japanese dying technique.

Footwear for the collection was brought by another Indonesian brand – Keewa. 

Catwalk: https://disk.yandex.ru/d/bOZ-ZGNx0Gt82w 

Abzaeva/Gapanovich (Ulan Ude, Russia / Murmansk, Russia)

Two Russian brands from Buryatia and the Murmansk Region brought to the catwalk of Modest Fashion Day some futuristic looks – extensive oversize puff quilted jackets complemented by balaclavas, as well as romantic rouches and skirts from streamy fabric.

Both brands work in compliance with the local identity of the region and traditional clothing, offering the audience a new creative take on these. 

Designer Nadezhda Abzaeva came to Modest Fashion Day with her quilted vests, puffy corsets, as well as texturized jackets with extensive sleeves. Abzaeva prefers natural materials – cotton and denim made in Russia and China.

Designer Alexandra Kruchuk from Murmansk (Gapanovich brand) presents in her collections a contemplation over the traditional Russian folk costume related to the history of the people of the North. She uses lots of rouches, handmade knitting, extensive sleeves, and skirts. This collection included looks made of stonewashed cotton and nettle cloth, as well as feminine blouses with floral prints, floating skirts, and sundresses of batiste and rough veil.

Catwalk: https://disk.yandex.ru/d/yXLV-bYS_6CALg

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India is experiencing a record-breaking influx of 24 global brands this year, propelled by the post-Covid surge in consumption. The number of brand entries in recent years pales in comparison, with only one in 2020, three in 2021, and 11 in 2022, far below the pre-pandemic average. 

Discussions are underway for prominent names like Roberto Cavalli, Dunhill, and Foot Locker to establish their presence in India. Additionally, Lavazza, Armani Caffe, Jamba, and The Coffee Club are set to make their Indian debut. Noteworthy brands including Valentino, McLaren, Balenciaga, Pottery Barn, Pret A Manger, Tim Hortons, and Popeyes have already ventured into the Indian market. 

CBRE forecasts retail leasing to reach 5.5-6 million square feet in 2023, the second-highest figure since the peak in 2019. Fashion stores are leveraging partnerships with Reliance and Aditya Birla for strategic expansion. Aditya Birla Fashion and Retail has joined forces with Galeries Lafayette, while Reliance plans to reintroduce Shein. 

India's rising spending power and its position as a prominent retail destination are attracting international brands. Experts predict a promising future for consumer technology and retail, with Ace Turtle recently teaming up with Dockers for their Indian market entry.

Milan, Italy - Candiani SpA, renowned for its sustainable practices, has clinched the prestigious ITMA Sustainable Innovation Award for the second year running. The award recognizes their groundbreaking Candiani Custom project, featuring a cutting-edge micro-factory that produces tailor-made jeans on demand. The eco-conscious customers can choose from an array of Candiani Denim fabrics.

The ITMA Sustainable Innovation Award, initiated in 2015 by CEMATEX, celebrates collaborative endeavors between exhibitors and customers, highlighting industry excellence. This year's event, held in Milan, also witnessed the ITMA 2023 Research & Innovation Award, which encourages academic institutions to pioneer textile industry research.

Denim stole the spotlight at the ITMA Sustainable Innovation Award 2023, showcasing concepts focused on sustainability, zero-waste production, and reduced water and energy consumption.

Candiani SpA secured the top accolade, thanks to their visionary Candiani Custom project and the bespoke cutting machine designed specifically for it. Their urban micro factory embodies sustainable practices, minimizing waste throughout the production process.

Denim Moda Srl and Limonta SpA were the other finalists in the Industry Excellence category. Denim Moda earned recognition for the establishment of the Denim Moda Urban Factory, equipped with cutting-edge technologies for sustainable denim and cotton production. Limonta impressed the judges with its Bio-Freed dyeing system, which drastically reduces water consumption by 90% and lowers energy usage by 67%.

The Industry Excellence Award judging panel comprised Amina Razvi, CEO of the Sustainable Apparel Coalition (SAC); Dirk Vantyghem, Director General of the European Apparel and Textile Confederation (EURATEX); Ernesto Maurer, President of CEMATEX; and John Mowbray, Founder & Director of MCL News & Media.

In the Research & Innovation Excellence Award category, Philipp Benjamin Weigel emerged as the winner for his thesis on the numerical simulation of parametrically generated profiled carbon polymer yarns. Eva Wingerath and Maryam Sodagar were the first and second runners-up, respectively, for their research on composite pressure vessel end-of-life recycling and the use of banana fiber as reinforcement for polylactic acid.

The ITMA Sustainable Innovation Award serves as a platform to promote research and innovation in the textile industry.

Cambodia's exports in the first five months of 2023 reached $9.18 billion, a 2.4% drop compared to last year, as reported by the General Department of Customs and Excise. Apparel, footwear, travel goods, bicycles, rice, rubber, cassava, bananas, and mangoes were the major exports. 

The United States remained the leading market, with exports worth $3.19 billion, a 14.3% decrease from the previous year. Exports to Vietnam rose by 22%, reaching $1.32 billion, while exports to China increased by 13.3% to $588 million. 

The government aims to attract foreign investment and boost the economy, especially with trade agreements like RCEP and FTAs with China and Korea. Import figures declined to $10,109 million, a 22.6% decrease from the previous year, with key items including oil, raw materials, machinery, and electronics.

Luxury brands face uncertainty as investors grow cautious amidst market decline. Recent meetings with top investors in Los Angeles, Tokyo, and Monaco reveal nervousness regarding the industry's direction.

Changing consumer values and expectations poses a significant challenge. Younger demographics prioritize experiences and ethical, sustainable brands, demanding net-positivity. Failure to adapt may lead to declining market share, especially with evolving brand preferences in China.

Global economic and geopolitical uncertainties further compound the situation. Geopolitical tensions, trade wars, and Europe's soft recession threaten discretionary spending. Luxury brand CEOs express concerns about overdependence on the Chinese market.

The digital realm presents a crucial next chapter for luxury brands. Reluctance to embrace digital technologies risks losing market share to digitally-savvy competitors. Although the pandemic pushed brands to catch up, a lack of digital mastery remains vulnerability.

Luxury's transition from glamour to caution prompts investors to reconsider their positions. CEOs must navigate operational challenges and meet investor expectations to thrive in this shifting landscape.

The Joint Apparel Association Forum (JAAF) has expressed deep concern and disappointment over the recent decision to abolish the well-functioning Simplified Value Added Tax (SVAT) scheme. 

Representing the apparel industry, JAAF firmly believes that this move will have detrimental effects on the sector, exacerbating the challenges faced by declining exports and putting the cash flows of businesses at risk.

JAAF highlights that the abolition of SVAT will burden an already stressed industry, particularly impacting company cash flows as funds will be tied up in refund systems. This impulsive decision, made without consultation, will have disastrous long-term consequences for the sector's operations.

Moreover, JAAF emphasizes that the removal of SVAT is revenue-neutral to the Department, failing to contribute significantly to the government's revenue targets. Sri Lanka's history with VAT refunds is poor, and the SVAT system has effectively curbed fraud in the non-export sector. Exporters rely on SVAT to purchase local inputs for their exports, minimizing the potential for abuse.

The decision also overlooks the possibility that apparel exporters may resort to importing raw materials instead of purchasing from domestic manufacturers, leading to increased imports and negatively impacting the trade balance. 

Additionally, reintroducing a VAT refund system would require significant resources from the Inland Revenue Department, resulting in higher administrative costs for all parties involved.

In light of these concerns, JAAF strongly recommends that the removal of SVAT from the export sector be approached cautiously. 

Preserving SVAT for the export sector is crucial to safeguarding the industry from unnecessary internal shocks during a period of declining exports and adverse effects on companies and employees.

US retailers and brands have reduced imported readymade garment shipments by almost 25%, impacting exports from China, Vietnam, Bangladesh, India, and Indonesia. 

The latest data from the US Department of Commerce's Office of Textiles and Apparel (OTEXA) reveals that in the first four months of this year, the US imported apparel worth $25.21 billion, a decrease of approximately 22.15% compared to the same period last year when imports amounted to $32.39 billion. 

China experienced a significant drop in readymade garment exports to the US, with a 32.45% decline, exporting garments worth $4.52 billion in the first four months of this year compared to $6.69 billion in the corresponding period last year. 

Vietnam saw a 27.33% decrease in garment exports, while Bangladesh and India experienced declines of 17.88% and 16.59%, respectively. Indonesia's apparel exports to the US fell by 25.57%. 

Inflation in the US, which spiked last year due to the Russia-Ukraine conflict, has now decreased to 4.9% in April. As a result, Bangladesh apparel businessmen anticipate an increase in garment orders for the upcoming summer season. The US remains the largest market for Bangladesh's apparel industry.