Bangladesh’s apparel exports in November 2022 were 26 per cent higher than the same month a year ago. The country’s total exports in the first five months of the current 2022-2023 fiscal year were up 10 per cent year on year. Of the total earnings, the country's income from readymade knitwear and woven garments surged 15 per cent.

Bangladesh saw exports soar more than 34 per cent in the 2021-22 fiscal year. Bangladesh’s readymade garment exports to non-traditional markets grew by 24 per cent from July 2022 to October 2022. Of the total amount, export revenue from woven products grew by 29 per cent. Earnings from knitwear goods were up by 19 per cent. From July 2022 to October 2022 apparel exports to Japan rose by 26 per cent. Exports to India rose by 55 per cent. Garment exports to Australia grew by eight per cent.

Apparel exports to South Korea saw a 40 per cent growth. Apparel export earnings to Mexico grew by 46 per cent. Bangladesh is exploring new destinations to make the garment sector sustainable. Exports to non-traditional markets have grown from less than a billion dollars to five billion dollars in the last 12 years.

Economic activity in the US manufacturing sector contracted in November 2022 for the first time since May 2020.

The November manufacturing Purchasing Managers’ Index registered 49 percent, 1.2 percentage points lower than the 50.2 percent recorded in October 2022. Six manufacturing industries reported growth in November, led by apparel, leather and allied products, while among the 12 industries reporting contraction were textile mills, furniture and related products.

The past relationship between the manufacturing PMI and the overall economy indicates that the manufacturing PMI for November corresponds to a 0.1 percent increase in real gross domestic product on an annualized basis. The US manufacturing sector dipped into contraction, with the manufacturing PMI at its lowest level since the coronavirus pandemic recovery began.Of the 18 manufacturing industries, only one reported growth in new orders in November–apparel, leather and allied products, while 14 industries reported a decline.The production index registered 51.5 percent in November, down 0.8 percent from October, but indicating growth for the 30th consecutive month.

The ISM prices index declined 3.6 percent in November to 43 percent, indicating raw materials prices decreased for the second time in 29 months. This was the index’s lowest level since a reading of 40.8 percent in May 2020.Over the past eight months, the index has decreased 44.1 percent, including a combined 26 percent plunge in July and August.

Price declines continue to be driven by relaxation in energy markets, copper, steel, aluminum, plastics and corrugate, as well as volatility in freight costs. The ten industries which paid decreased prices for raw materials in November were topped by textile mills and included furniture and related products. Seven industries, including apparel, leather and allied products, reported no change in prices for the month.

Employment

A number of companies reduced employment levels through hiring freezes, attrition and now layoffs. Turnover rates remained consistentand retirement issues generally the same rate since September 2022. Apparel, leather and allied products led the list of seven of the 18 manufacturing industries reporting employment growth in November. The five industries reporting a decrease in employment in November were topped by textile mills, while furniture and related products were among the six industries reporting no change in employment month to month.

Supplier deliveries

The delivery performance of suppliers to manufacturing organizations was faster for a second straight month in November. The Supplier Deliveries Index registered 47.2 percent, 0.4 percent higher than October. Prior to October, the last reading under 50 percent was in February 2016.Six of 18 manufacturing industries reported slower supplier deliveries in November, topped by apparel, leather and allied products and textile mills. The 11 industries reporting faster supplier deliveries in November compared to October included furniture and related products. Companies continue their efforts to reduce their total supply chain inventories, indicated by the contraction in new orders, slow expansion in manufacturing inventories and the right level of customers’ inventories. Of 18 manufacturing industries, the eight reporting contracting inventories in November included textile mills, and apparel, leather and allied products.Six industries reported customers’ inventories as too high in November, led by textile mills.

Order backlog

Only two industries reported growth in order backlogs in November–apparel, leather and allied products, and machinery. Twelve industries reported lower backlogs in November, including textile mills and furniture and related products.Weakness in European economies and China’s economic sluggishness, as well as the strong dollar, continued to constrain new export order activity and negatively impact new order rates. Apparel, textiles and furniture were among the ten industries reporting no change in new export orders for the month.

The pandemic-induced lockdown has catapulted online shopping for garments and accessories to a huge business for the fashion sector. As a great leveler, fashion became accessible beyond metros and Tier I cities, reaching out to larger consumer groups with purchase power in Tier II, III cities where many brands did not have a physical presence.

Traditionalists may have spoken about the advantage of tangible experience of shopping in a physical store, engaging ones senses of sight and touch, the success story of online shopping begs to differ to these pundits. What’s more, smart use of social media, technology and rich content, brought to life clothes and accessories for a customer to make a purchase decision. To corroborate this fact, many reputable brands have disclosed figures.

Gen Z takes the lead in online shopping

Puma for instance relies on online shopping for half its sales whilst H&M, Woodlands, Marks & Spencer and Arvind Fashions (Tommy Hilfiger, Calvin Klein, Arrow and U.S. Polo Assn.) attribute online sales as 42 per cent, 35 per cent, 25 per cent and 26 per cent respectively.

This phenomenal success story is being led by young consumers categorized as young millennial and Gen Z as they are natural inhabitants of the digital world and see no problem in living their fashion desires from online shopping. Many fashion and accessories brands are leveraging the popularity of e-platforms like Amazon, Myntra, Ajio and Flipkart to channel their sales whilst the big brands not only use these platforms but also offer their own branded e-stores.

Surprisingly, India’s department store chains are yet to experience the success story as substantially as individual brands. Westside, Pantaloons, Shoppers Stop and Lifestyle have reported positive growth but currently online sales contribute only between 6 to 10 per cent.

Growing online fashion marketplaces

As India surges ahead with the introduction of indigenous 5G network, online and smartphone penetration across the country is continually growing. Fashion marketplaces have become immensely popular after Myntra revolutionized this channel. Reliance’s Ajio and Tata’s Cliq are also catching up and consistently growing market share. Unhindered by individual brand guidelines, these e-commerce fashion sites are agile, quick to respond and provide customized portfolios for individual shoppers that have proven to be a winning strategy. Additionally, these marketplaces with their huge portfolio of brands don’t get as impacted on fickle brand loyalty.

Unprecedented growth of e-commerce

A recent Bain & Co. report projected for the next five years states, India will experience an annual growth rate of 25 to 30 per cent in online shopping. If this projections turns out to be true, India will then nudge the US out to become the world’s second largest online shopping market by 2024. In 2021, the Indian online shopper base was between 180 and 190 million. By 2027, the figures would read 400 to 450 million and valued at $150 billion. In 2022, the value is $50 billion, up 40 per cent compared to 2021. As online became the dominant channel and continue through 2022, many brands are now dedicating exclusive online collections and products that cater to a wider segment across price points.

Online shopping has spread across categories such as groceries, personal electronic devices, pharmaceuticals, etc but it is still the fashion sector that retains its pole position as the driver of India’s e-commerce boom.

YKK has a roadmap for achieving climate neutrality by 2050.

Sustainable materials (such as recycled or plant-derived materials) used in zipper textiles has increased to 13 per cent (up seven points yearonyear). Eleven plants are worldwide operating on 100 per cent renewable energy. Sustainable packaging use has increased to 3.3 percent. Landfill waste has been reduced by 272 tons year on year. Waste resource conversion rate has increased to 87 per cent (up 3.7 points yearonyear). There has been a 7.5 per cent reduction in total water intake by all manufacturing sites.

The company has implemented wastewater management using voluntary control standards stricter than government regulations and has developed paints with reduced toluene and xylene for use on main products. The expanded lineup of products produced with YKK’s new eco-friendly AcroPlating technology eliminates 100 per cent of cyanide, chromium, selenium, and other harmful substances. The volume of products made with this technology increased 75 per cent for zippers and 48 per cent for snaps and buttons. YKK, based in Japan, has continuously set industry standards for quality, innovation, and sustainability in the production of zippers, plastic hardware, hook and loop fasteners, webbing tapes, and snap and buttons.

Yamuna Machine Works will launch three knitting machines at the trade fair India Itme, Noida, December 8 to 13, 2022.

These are the Open Width Knit Compactor, the Open Width Knit Singeing Machine and the Alea-Yamuna Multilayer Stenter. Textile machinery manufacturer Yamuna caters to the demands of Indian textile processors by offering state-of-the-art machines.Yamuna has a strong market position in India as well as in the US, Europe, Brazil, Portugal, Argentina and other countries.

The manufacturer has also been the recipient of several export awards for the past three years.Yamuna Machine Works flagged off operations in 1990 and entered the Indian textile industry by introducing the stenter machine for the benefit of domestic companies. Yamuna designs, develops and delivers hot air stenters, hydraulic jiggers, coating lines, singeing machines, polymerisers, thermo bonding lines, dye pedders, drying ranges, shrinking ranges, rope scouring, washing ranges and dipping lines, all manufactured to global standards of excellence.

The company currently operates with an annual production capacity of 130 machines for its complete range, about 50 per cent of which make up the stenter business. Apart from the finishing machines, the company has also ventured into wet processing machines and this segment has also been growing considerably in recent times.

Indian textile major Trident has joined ITMF as corporate member. Joining ITMF (International Textile Manufacturers Federation) will offer Trident a network of international companies covering the entire textile value chain that will help to better understand and navigate the changing business environment.

Joining an international industry platform like ITMF enables access to the various statistics, reports, webinars and meetings that help explain the short- and long-term dynamics of the global textile industry. Having the opportunity to attend the exclusive ITMF annual conferences is another important aspect. In today’s world meeting industry colleagues on a personal level in an atmosphere of trust and respect is invaluable.

ITMF will also benefit since Trident is one of the leading producers of home textiles in the world, supplying retailers and brands around the world, and can therefore provide an important international perspective on many issues ranging from sustainable production to social compliance.

Trident began by making high-quality yarn and in due course has become the largest manufacturer of terry towels and one of the largest integrated home textile manufacturers in the world. In the meantime, Trident has also diversified beyond home textile products by successfully diversifying into paper, chemicals, energy, and more.

Founded in 1904, the ITMF is the international forum of the global textile value chain for producers of fiber to finished products. Its members are from textile and apparel-producing countries representing approximately 90 per cent of global production.

Supima is transitioning its licensing program to the digital and forensically verified SupimaAqre platform beginning January 2023.

The licensing program has been the cornerstone of the Supima organisation for over 40 years and has been essential in highlighting and identifying the products its brand partners produce using American-grown Pima cotton.

At the start of next year, Supima implements the robust SupimaAqre licensing platform that will further enhance the credibility and value of the brand. It will be a standard-setting industry benchmark for combining digital traceability and transparency with physical authentication, providing an unrivalled level of confidence in both the content and provenance of Supima products. Going forward, all Supima branded products will be digitally tracked and forensically verified across the supply chain. In partnership with Textile Genesis, Supima will bring digital data connectivity to its licensees through a robust blockchain approach. This platform will provide live, transaction-level transparency for products moving throughout the supply chain.Unlike any other platform, Supima products will undergo physical authentication.

Supima’s partner Oritain will conduct forensic testing to verify the origin of products across the licensing platform.Whether for consumer messaging or origin verification requirements, the forensic validation will provide robust proof of provenance and material origin.

Technotex will be held in Mumbai, February 22 to 24, 2023. This is the largest event of the technical textile industry in India and it offers an exceptional opportunity for India to contribute to the global agenda on insistent matters of global importance.

The event offers a good opportunity for startup entrepreneurs who represent the fastest growing category worldwide. For the high potential of startups in the textile arena, the event will focus on discussions to empower startup ventures, promote knowledge exchange on best practices and develop capacities of entrepreneurial ecosystem for startups. India is making all out efforts to promote technical textiles and has undertaken various initiatives in this direction. These initiatives include the PLI scheme, HSN codes, and the National Technical Textile Mission.

The end use of technical textile products covers a wide array of industries, there by presenting a plethora of opportunities as a high value sector in India. Since the global textile market is robust and expected to grow rapidly, the event aims at building a strong connect with the global industry, attracting domestic and global investments as well as projecting India’s strengths, initiatives and facilities.

The event is being organized by the Ministry of Textiles, Government of India, in collaboration with the Federation of Indian Chambers of Commerce Industry under the National Technical Textiles Mission.

Sri Lanka’s earnings from merchandise exports declined by 11 percent in October 2022 compared to a year ago.

The last time Sri Lanka saw a decline in the year on year export was in March 2022. Cumulative export earnings in the first ten months of 2022, however, increased by eight percent over the same period in the last year. A looming recession in Sri Lanka’s main export markets has threatened the island nation’s top export garment sector as orders have slowed down significantly.

The main export markets, the United States and the European Union, gripped by inflationary pressures, are plunging into a recession stemming from Russia’s invasion of Ukraine. These global headwinds are expected to impact Sri Lanka’s apparel exports in the coming six months.In addition, the removal of the dual corporate tax rate structure, which is set to increase corporate income taxes on exports to 30 percent up from the earlier 14 percent, also threatens the competitiveness of the country’s exports, in particular when competing with countries such as Bangladesh and Vietnam.

The proposed changes to the personal income tax structure could also fuel brain drain from the country, further impacting the industry.

Japan’s imports of textile and apparel in October 2022 increased by eight per cent year on year and four per cent month on month.

Among Japan’s imports of textile and apparel in October 2022 the volume from China rose two per cent year on year and six per cent month on month. From January 2022 to October 2022, Japan’s total textile and apparel imports were up four per cent yearonyear while down 0.7 per cent from the same period in 2019. In October 2022 the textile import value grew by 42 per cent and the apparel import value grew by 41 per cent. Imports of clothing and accessories by Japan increased by 40 per cent yearonyear in October 2022.They were three per cent of Japan’s total imports during the period.

The country’s imports of textile yarn and fabrics in October 2022 were 45 per cent higher than the same period of last year. Yarn and fabric imports were one per cent of the total imports by Japan. The country’s exports of textile yarn and fabrics during October 2022 increased by 17 per cent year on year. The country’s exports of textile machinery were 38 per cent higher than exports in October 2021.