Knitwear accounts for more than 55 percent of Bangladesh’s total garment exports.

In the 1980s, woven garments such as shirts and pants were the main export products of Bangladesh. At that time, the share of woven garments in total exports was more than 90 percent. After that, the capacity of knitwear is also created in Bangladesh. Gradually, the participation of woven and knit garments in the total exports was equalized.

However, this picture has changed in the last decade.More than 80 percent of the products exported from Bangladesh in the world market are readymade garments. These are basically divided into two categories based on type—woven garments and knitwear. Generally, T-shirts, polo shirts, sweaters, trousers, joggers, shorts are called knitwear. On the other hand, formal shirts, pants, suits, denim jeans are known as woven clothes.

The use of casual wear has started to increase since the Covid period. Also, the demand for people’s everyday clothes is also increasing. Most of these clothes are knitwear. Besides, the demand for manmade fibers is increasing in the international market, most of which is knitwear. As a result, the overall demand for knitwear is increasing in the global market.

For the third quarter Grasim’s profit fell by 50 per cent. The company was hurt by a slowdown in demand for some products it sells, including a key material used in various kinds of clothes.

The profitability of the company’s viscose staple fiber business, which comprises over half its standalone revenue, was impacted due to lower exports, higher input costs and lower utilisation levels. Revenue for the segment fell by nearly five percent. However demand for caustic soda--a key product of Grasim’s chemicals segment--remained robust. The company’s chemicals business is its second largest division. Total revenue from operations rose by seven percent during the quarter. However Grasim struggled with increasing expenses, led by an almost 18 per cent increase in cost for power and fuel on the back of rising global coal prices.

Grasim, a flagship company of the Aditya Birla Group, produces viscose staple fiber, viscose filament yarn, advanced material, linen yarn, and fabrics. The business is working on plans to add new chlorine value-added products in the portfolio to increase the chlorine integration levels.

The India-centric demand for viscose staple fiber remained largely intact but value chain partners for the global markets have started witnessing the impact of recessionary conditions.

Itema’s new rapier weaving machine, the R9500, is dedicated to denim. The machine is equipped with iSaver, a mechatronic device capable of completely eliminating the waste selvedge on the left-hand side of the fabric thus leading to significant cost savings and reducing waste, contributing to sustainable denim weaving.

iSaver is already successfully installed in many leading denim mills worldwide and represents a real interesting added value for weavers who deal with western brands which are more and more looking at a green and sustainable production chain for the fabrics they buy.

Itema is a leading provider of advanced weaving solutions, including weaving machines, OEM spare parts and integrated services. Itema has positioned itself as a reliable partner – and not only a simple supplier – for textile companies, providing advanced weaving machines along with a real-time after-sales service, highly professional training for weavers and integrated textile consultancy.

Itema is uniquely positioned in the market to offer textile manufacturers the top three weft insertion technologies – rapier, airjet and projectile -- OEM spare parts, upgrade kits, and a dedicated online shop for the historic brands now part of Itema – Somet, Sulzer, and Vamatex – in addition to highly professional training in six worldwide locations.

Denim fabric majors in India are facing a fall in revenues. Slowing demand in major export markets following the Russia-Ukraine war and relatively muted domestic demand coupled with volatility in cotton prices have eroded their profits.

The dent in export markets is hitting the industry hard. Units heavily dependent on exports tend to be affected as the denim demand has nosedived since the war began. Cotton price fluctuations are another key reason for the declining demand for denim fabric. Since Covid denim fabric prices have gone up by an estimated 30 per cent due to a hike in cotton prices. So whenever prices rise garment manufacturers stop procuring fabrics from denim mills as passing on costs isn’t possible.

Soon after the lockdown, when domestic demand took a hit due to consequent waves of Covid and subdued discretionary spending, exports provided a cushion to many denim majors whose revenues thrived. But higher cotton prices have affected denim manufacturers’ competitiveness. When demand is low, competitive prices help companies gain orders.

However, with Indian cotton remaining expensive, it is difficult for Indian denim companies to compete against Chinese counterparts as cost of production increases. However, in the fourth quarter, as cotton prices have begun stabilizing, denim majors are optimistic about a revival in domestic demand.

Philippine Tropical Fabrics Month displayed the potential of sustainable fibers from banana to pineapple.

Held each January, the event highlights awareness of local fabrics and collaboration between industry players and research institutions to promote innovation in clothing production.

This year’s highlight was a fashion show aimed at boosting commercial production of indigenous tropical fabrics woven from silk as well as natural fibers drawn from plants such as banana, pineapple and abaca.

Now a decade old, the exposition is geared towards farmers, handloom weavers of natural textiles, retailers and millers, and the producers of uniforms of various types. Fashion and innovation meshed together during the event when office uniforms, designed by local artisans and made from tropical textiles spun out of natural fibers, got an airing.

The Philippines pioneered textile production in southeast Asia. Large-scale textile manufacturing began as early as 1906. But changes in global trade, preferential policies, lack of technical knowledge and investments saw the garment and textile industry’s export value drop. But the country remains competitive in the mid- to high-end market mainly for its prized embroidery and intricate design capabilities including handwoven fabrics made with indigenous fibers.

The industry is experimenting in areas such as new natural dyes, which replace toxic chemicals in the processing of textiles.

For the third quarter Garware’s net sales decreased by 11 per cent. Profit before tax decreased by nine per cent. Net profit after tax decreased by four per cent. EPS for the third quarter fell by four per cent. The current quarter results were impacted due to delays in orders from customers in the industrial and sports businesses on account of recessionary pressures in Europe and the US.

Customers adjusted stocks in the third quarter significantly. But the company expects this to be short term in nature and will get corrected from the first quarter of fiscal year 2024. There was an offset to some extent by strong order flows from Chile and Scotland. The aquaculture business is focused on our new innovative products like X18 and CFR. These products are allowing customers to benefit from operational savings which would otherwise be difficult.

Garware has been able to maintain margins during the current quarter and expects that to continue. The company looks forward to a better fourth quarter with current visibility. Garware Technical Fibers,a manufacturer of technical textiles, caters to various segments like aquaculture, sports nets, agriculture, geotextiles etc. through a diverse range of netting products, ropes, coated fabrics and others.

DTG will be held in Bangladesh, February 15 to 18, 2023.

About 1,200 global machinery and technology solution provider brands from 35 countries will display advanced technologies, cutting-edge solutions, and the latest trends.

Local textile and garment manufacturers will get an opportunity to meet with their global suppliers of the latest technology and machinery under one umbrella. This edition of DTG is taking place after a break of three years due to the Covid pandemic.

This year, DTG will exhibit covering equipment, material, and accessories needed in different stages of the textile and garment industrial chain, including spinning, weaving, knitting, dyeing, printing, finishing, and garment manufacturing segments.The readymade garment industry in Bangladesh is a major contributor to the country’s economy, accounting for more than 80 per cent of its total exports.

The industry has grown rapidly over the past few decades, driven by a combination of low labor costs, government support, and an abundance of skilled workers.In the early days of Bangladesh’s readymade garment industry, the country primarily exported low-end products such as T-shirts and basic pants. However, over time, the industry has evolved to include higher-end products such as denim and technical textiles.The industry is heavily reliant on exports, with the United States and European Union being the largest markets for its products.

After peaking in the third quarter the turnover of Indian home textile exporters moderated in the quarters ended March 2022 and June 2022 amid a slowdown in demand. So says Icra.

Further, high and increasing raw material and logistic costs resulted in a consistent decline in operating margins since the second quarter of the last fiscal year. Rising inflationary concerns, the resultant slowdown in consumer discretionary spending, uncertainty on economic growth outlook and cautious buying by retailers to manage inventories are affecting sales in key export markets.

Icra expects the turnover of home textile exporters to contract further in the quarter ended September 2022 with muted sales in the December quarter as well. Overall, Icra expects a double-digit contraction in turnover as well as moderation in margins for home textile exporters in fiscal year 2023 following all-time high sales and profits in fiscal year 2022.

As the demand scenario has normalised and inflation is exerting pressure on consumer discretionary spending, Icra expects home textile companies to report a contraction in turnover in fiscal year 2023. Slower-than-expected sales have resulted in higher-than-average inventory levels in recent months.

As a result, Icra expects retailers to go slow/cautious on buying in the subsequent months to rationalise their inventory levels.

For the second quarter value addition in Bangladesh’s export-oriented readymade garment products grew by 62 per cent over the first quarter and by 37 per cent year on year.

The import value of raw materials –raw cotton, synthetic/viscose fiber, synthetic/mixed yarn, cotton yarn and fabrics and accessories—in the second quarter comprised 32 per cent of total readymade garment export earnings.

The value addition in the readymade garment industry improved in the second quarter by 11 per cent over the first quarter and by ten per cent year on year. Total export earnings from readymade garments in the second quarter were 23 per cent and 17 per cent higher than that of the previous quarter and the same quarter of last year respectively.

During the first quarter the United States, Germany, the United Kingdom, Spain, France, Netherlands, Italy, Canada and Belgium were the top destinations for Bangladesh’s readymade garment exports.Bangladesh's apparel exports to the European Union during the first six months of the current fiscal year 2022-23 increased by 16 per cent compared to the same period of fiscal year 2021-22. Apparel exports to Germany grew by three per cent. Exports to Spain and France grew by 17 per cent and 33 per cent during the first six months of the current fiscal year.

Inditex is committed to doubling the number of employees with disabilities by 2025.

It is endorsing the ILO Global Business and Disability Network, a unique worldwide network created to promote disability inclusion in the workplace. And the fast fashion retailer has agreed to give Spanish shop workers a 20 per cent rise in wages.

Wage increases will cost Inditex about 9.7 per cent of its operating costs. Since wages for shop workers are very low in some places in Spain, Inditex hopes it will set a precedent for other retail chains.

Inditex owns eight brands in Spain including Zara, Massimo Dutti, Pull & Bear and Bershka. The company employs 1,65,000 people in 177 countries, a third of which are based in Spain. Inditex has already set itself apart from some rivals by passing on a larger chunk of rising costs, and it is expected to continue raising prices. It is speculated that this move will pressure other fashion retailers to follow suit in order to retain young talent in challenging labour markets. However, pay rises without triggering further inflation could prove tricky for businesses.

Consumer prices in Spain rose 5.8 per cent year on year in December 2022 while average annual inflation was 8.4 per cent, which is the highest it has spiked since 1986.