Gurgaon-based management consulting firm, Wazir Advisors, has forged a strategic alliance with the Netherlands-based Good Fashion Fund (GFF) to provide critical technical advisory services in the fashion industry's realm of impact investments. This partnership signifies a concerted effort to offer guidance to GFF on multifaceted aspects of potential investments, encompassing technical assessments, sustainability considerations, and supply chain enhancements. Beyond this, the collaboration seeks to unearth fresh opportunities and cultivate synergy within the textile and apparel sector.

Varun Vaid, Business Director at Wazir Advisors, voiced his excitement about this venture, emphasizing, "We are thrilled to join forces with the Good Fashion Fund. With mounting consumer awareness and increased pressure from global stakeholders and policymakers, sustainability has taken center stage. Wazir is dedicated to contributing to the industry's advancement, and we believe this collaboration will be pivotal in motivating Indian stakeholders to adopt sustainable practices."

In the fiercely competitive landscape of textile and apparel manufacturing, incorporating sustainable technological solutions into supply chains is a vital component for manufacturers aiming to maintain their competitive edge. GFF plays a pivotal role by extending long-term USD debt directly to manufacturers, enabling them to adopt highly impactful and innovative production technologies. Their overarching mission is to establish a textile and apparel supply chain that is both restorative and regenerative. GFF provides manufacturers with technical assistance for environmental and social (E&S) improvements, grants access to a network of industry experts and professionals (including Wazir Advisors), and facilitates visibility and exposure to brands and the global fashion sector as sustainability trailblazers.

Bob Assenberg, Fund Director at GFF, shared his enthusiasm, stating, "As the sole global impact fund offering risk-tolerant debt for investments in sustainable and circular textile and apparel technologies in Asia, we are thrilled to partner with Wazir Advisors. Wazir's extensive industry network will enable us to connect with industry stakeholders, and their technical expertise will fortify our decision-making processes as we collaborate with manufacturers in their transition toward sustainability."

This partnership harbors a broader mission—to expand the horizons of opportunities for textile and apparel stakeholders eager to adopt and amplify sustainable innovations within their supply chains through impactful investments. By harnessing GFF's investment and E&S expertise in tandem with Wazir Advisors' financial and technical acumen, the positive impact of manufacturing can be markedly amplified, aligning with the Five Goods: Good Energy, Good Water, Good Materials, Good Lives, and Good Economy.

The Good Fashion Fund (GFF), initiated by Fashion for Good, is a collaborative initiative involving the Laudes Foundation, The Mills Fabrica, FOUNT, and Rabobank as a lender to the Fund. GFF extends long-term USD loans alongside technical, environmental, and social expertise to manufacturers in Asia, primarily in India and Bangladesh. With a blended capital structure and an actual fund size of USD 19 million, GFF's current partners include Pratibha Syntex, Progress Apparels, and Sri Kannapiran Mills. The Fund is managed by FOUNT, a prominent impact investment firm from the Netherlands.

Europe was and continues to be in pole position for western wear for men, women and children. A recent report by a research house IMARC Group titled “Europe Menswear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” reveals a CAGR of 4.5 per cent between 2023 and 2028 in the menswear category. The baseline of the report was January to December 2022. 

It should be noted in terms of men’s clothing, the EU as a collective along with the UK is the single largest market for men’s wear followed by the US and China. Within the EU collective and the UK, the latter is the single largest market followed by Germany, France, Spain, the Netherlands, Italy and Poland. Together these countries make up nearly 73 per cent of all EU men’s apparel imports worldwide and 67 per cent of all intra-EU imports of men’s wear. In context of global men’s wear value in 2022, the market size reached $560.2 billion. The European men’s wear growth when split into categories and price range showed a clear preference for high-quality clothing as well as a distinct taste for luxury brands. 

Important revenue and usage statistics

As per market research organisation Statista, revenue in the in Europe’s men’s apparel segment will reach a value of $156.6 billion by end of 2023. As a single country, the most revenue is generated in the US, where 2023 is expected to close at $110.9 billion. In relation to total population figures, per person revenues of $184.30 will be generated by European men in 2023. The average volume per person in the European men's apparel segment is expected to amount to 8.76 pieces in 2023 and volume is expected to amount to 7.59 billion by 2027.

Online shopping spearheads growth of men’s fashion

With high Internet penetration and a digitally savvy lifestyle, 67 per cent of men shopping for attire in Europe prefer online purchases compared to 65 per cent women, particularly in the age group 18 to 45 years, the group that drives the fashion market. Men over 45 not only prefer on-site shopping but also luxury clothing, which makes sense as they visit high-end retail outlets for the real-time experience . Almost 69 per cent of men surveyed in the UK admitted to not returning online purchases even if they did not meet the required fit. However, the survey revealed that jeans and trousers were the most returned items by men, if at all. The “not returning” attitude was slightly less in other European countries with Germany being most similar to the UK and Italy being the least similar to the UK. However, across the UK and the EU, online revenue share is expected to plateau from 2025 to 2027. 

Different markets with the EU

Germany is undoubtedly the largest market within the EU for men’s apparel. The overall apparel market in Germany is forecast to grow at a CAGR of 2.3 per cent between 2022 and 2027 to reach €83.6 billion. In men's footwear, trainers dominate sale and is expected to be the fastest-growing category. In 2022, H&M led the market in 2022 with 4.4 per cent market share followed by C&A at 2.9 per cent and Adidas at 2.8 per cent. The second largest market for men’s wear in Europe is Italy with a value of €74.8 billion by 2027, with France as the third largest market by 2027 with a value of €55.5 billion. 

In terms of men’s fashion, Europe may be the single largest market as a collective but according to predictions, the US and China are bigger as single country markets and India is catching up as well.

Lenzing, a leading provider of specialty cellulose fibers, has earned EU Ecolabel certification for its Purwakarta site in Indonesia. This recognition signifies Lenzing's commitment to high environmental standards, expanding its product portfolio to include LENZING ECOVERO and VEOCEL brand fibers. By transitioning to specialty viscose production, Lenzing is better equipped to meet the growing demand for eco-friendly viscose fibers.

An investment of EUR 100 million modernized the Indonesian site, significantly reducing emissions. The site now sources energy sustainably and is driving the shift to biomass, aligning with Lenzing's carbon reduction goals. The company aims to decrease carbon emissions per ton of product by 50% by 2030 and achieve carbon-neutral production by 2050.

Stephan Sielaff, CEO of Lenzing, emphasized their commitment to sustainability and circular business models, highlighting the EU Ecolabel certification as a testament to their performance.

LENZING ECOVERO and VEOCEL fibers have a lower environmental impact, emitting fewer greenhouse gases and causing less water pollution than traditional viscose. Lenzing also plans to produce LENZING ECOVERO Black fibers in Indonesia, further reducing energy and water consumption throughout the textile chain, contributing to a lower carbon footprint.

Research by ActionAid and CENTRAL reveals that as sneaker prices rise, Cambodian workers' wages plummet, pushing them further into poverty. The report, "Stitched under Strain," condemns the fashion industry for prioritizing profits over workers' rights. Cambodian garment laborers demand a wage increase to cover basic needs like food and housing. Clean Clothes Campaign affiliates, including ActionAid and CENTRAL, call on international brands to ensure fair wages for Cambodian workers in their supply chains.

The study exposes systemic wage loss and reduced working hours since the pandemic, affecting even major brands like Nike and Adidas. Monthly take-home pay, including overtime, has dwindled. Overtime pay has dropped by over 60%, leaving workers with just $12 extra per month in 2023.

85% of workers struggle to make ends meet, with nearly 50% skipping meals. 91% hold current loans, blaming pandemic-induced economic insecurity. Some resort to high-interest informal loans, even borrowing from supervisors.

Brands like Nike and Adidas profit greatly while their Cambodian workforce remains impoverished. Workers, mostly women, work six days a week but can't meet basic needs. Brands must ensure fair wages and support workers' demands for a higher minimum wage.

The current minimum wage fails to cover daily expenses, and wages have fallen since COVID-19. Cambodian workers rally for change, seeking support from international brands to end their cycle of poverty. Brands must act immediately to fulfill their commitment to decent living wages for workers. No one making clothes for popular brands should live in working poverty.

October 12th – 16th, 2023 

Fair Location: India Expo Center & Mart, Greater Noida, Delhi-NCR

IHGF Delhi Fair 2023

Indian handicrafts, a reflection of the integrity, style, and beauty of Indian culture, hold a history as ancient, diverse, and rich as the nation itself. These exquisite creations have been cherished worldwide for centuries, passed down through generations of skilled artisans. 

Indian handicrafts encompass a wide array of materials and design influences, serving as creative expressions of unparalleled craftsmanship.

The 56th edition of the IHGF Delhi Fair in 2023 presents an extensive collection of home, lifestyle, fashion, textiles, and furniture products for the upcoming season. This event brings together over 3000 manufacturers and exporters, all under one roof. 

Hosted at the prestigious India Expo Centre in Delhi-NCR, the IHGF Delhi Fair showcases more than 3000 new product offerings and introduces over 300 design innovations across 14 distinct product categories. It serves as the ultimate sourcing destination for retailers, importers, wholesalers, and design professionals.

IHGF Delhi Fair 2023

Visitors to the IHGF Delhi Fair can expect to find a dazzling array of Indian handicrafts, including:

• Hand-woven textiles

• Embroidery

• Metal craftsWood crafts

• Stone crafts

In addition to these traditional crafts, the IHGF Delhi Fair also showcases a variety of contemporary Indian handicrafts, such as fusion fashion, modern home furnishings, and unique accessories.

Overall Growth

Bangladesh's total RMG exports to the world reached US$ 31.99 billion during the January-August 2023 period, showing 7.27% growth compared to the same period in the previous year.

EU

The EU is Bangladesh's largest RMG export destination, and it played a major role in the overall growth. Bangladesh's RMG export to the EU increased by 5.96% during the mentioned period, with a total export value of US$ 15.87 billion.

Among the 27 member countries of the EU, 21 countries demonstrated positive growth in their imports from Bangladesh during this period. However, Germany, Lithuania, Malta, Poland, Slovakia, and Slovenia posted negative growth.

USA, UK, and Canada

Bangladesh's RMG exports to the USA decreased by 8.08% during the mentioned period, dropping to US$ 5.69 billion. Conversely, exports to the UK and Canada experienced positive growths of 13.60% and 6.79% respectively, with exports amounting to US$ 3.60 billion and US$ 1.05 billion.

New Markets

Bangladesh's RMG exports to new markets continued to grow, reaching US$ 5.80 billion in Jan-Aug 2023, showing 28.31% growth compared to the same period in the previous year.

Among the non-traditional markets, Bangladesh's RMG exports to Japan, Australia, India, Turkey, and Brazil have shown impressive growth.

This London Fashion Week SS24 season, ISKO provided their latest innovation in material science to a new wave of top emerging British designers of the moment - Priya Ahluwalia, Masha Popova, Chet Lo and Aaron Esh.

Alongside supplying their latest denim fabrics, ISKO opened its doors to its London-based product development centre, Creative Room London, for finishing and washing of their final designs as well providing expertise and knowledge in denim design and construction.

Priya Ahluwalia

For Ahluwalia’s Spring Summer 24 collection, entitled Acknowledgements, Creative Director and founder Priya Ahluwalia’s research led her on a journey of creative rediscovery.

Chet Lo

This season, Chet Lo took an active stand in reclaiming the power lost during his youth, healing the childhood wounds inflicted by a society that sidelined differences instead of celebrating them.

Aaron Esh

The SS24 season marked the brand’s debut at London Fashion Week, a homecoming of sorts for Esh, who was born and raised in the heart of the British capital, studied at Central Saint Martins and became a finalist at the LVMH Prize earlier this year. 

Masha Popova

Masha Popova’s sophomore catwalk outing, MONSTER – was a “seasonless” offering.

Statement from Keith O’Brien, ISKO’s Senior PR Manager

“For us this Spring/Summer 2024 season it's important to continue to build on our passion for supporting the next wave of young creative talent not only in the UK but globally on their journey to becoming more sustainably minded.”

Hong Kong's own fashion sensation, REDEMPTIVE, by designer Wilson Choi took the spotlight at CENTRESTAGE Hong Kong 2023, unveiling its latest collection that seamlessly blended street style with sustainability. This vibrant collection featured an array of ready-to-wear apparel and accessories that not only exuded style but also championed environmental responsibility.

REDEMPTIVE's commitment to sustainability was evident in the materials used throughout the collection. From organic cotton to recycled polyester, the brand embraced eco-consciousness in its designs. Moreover, the collection showcased upcycled pieces, breathing new life into existing garments and setting a remarkable example of sustainable fashion.

One notable aspect of REDEMPTIVE's collection was its inclusivity. It catered to diverse sizes and styles, designed to be a universal fit for individuals of all genders and body types. This commitment to inclusivity resonated deeply with the audience.

CENTRESTAGE Hong Kong marked a pivotal moment in REDEMPTIVE's journey. As one of Asia's premier fashion events, it offered the perfect stage for the brand to captivate a global audience with its innovative and sustainable designs.

Critics and consumers alike showered praise on REDEMPTIVE's collection. The brand's dedication to sustainability and inclusivity earned accolades, solidifying its position as a frontrunner in sustainable fashion in Asia.

A Brand with a Purpose

Founded by Wilson Choi in 2018, REDEMPTIVE is more than just a fashion brand; it's a mission-driven endeavor. Inspired by his upbringing in a modest family, Choi set out to create a fashion brand that would be accessible to individuals from all walks of life, regardless of their income.

Sustainability lies at the heart of REDEMPTIVE's ethos. The brand utilizes a range of sustainable materials, from organic cotton to Tencel, and maintains partnerships with fair trade and ethical suppliers. Further, REDEMPTIVE employs water-saving and energy-efficient production methods, aiming to minimize its environmental footprint.

Beyond sustainability, REDEMPTIVE is socially responsible. The brand actively employs individuals from marginalized groups and donates a portion of its profits to charities supporting these communities. REDEMPTIVE strives to leave a positive imprint on the world, with fashion serving as just one avenue to achieve this goal.

REDEMPTIVE's Triumph at CENTRESTAGE Hong Kong 2023

At CENTRESTAGE Hong Kong 2023, REDEMPTIVE showcased a collection inspired by the theme of "redemption." This captivating collection featured a range of pieces crafted from recycled materials, such as denim jackets and tote bags, symbolizing the brand's commitment to a sustainable future.

REDEMPTIVE's participation at CENTRESTAGE garnered widespread acclaim. Visitors marveled at the brand's dedication to sustainability and social responsibility, recognizing the impact of REDEMPTIVE's mission.

As the curtains fell on the 2023 edition of CENTRESTAGE, Asia's premier fashion event, a sense of accomplishment and innovation permeated the air. The four-day extravaganza had not only showcased the latest in ready-to-wear apparel and accessories but had also emphasized sustainability as a cornerstone of the fashion industry's future.

The emphasis on sustainability at CENTRESTAGE 2023 represents a positive step forward for the fashion industry. It underscores the industry's increasing awareness of its environmental and social responsibilities. Additionally, it reflects the growing demand for sustainable fashion among consumers.

The fashion industry is a significant contributor to global environmental issues, accounting for 10% of carbon emissions, 20% of wastewater, and 25% of landfill waste. The spotlight on sustainability is essential to reduce this impact.

Sustainability initiatives in fashion not only reduce the industry's carbon footprint but also enhance the working conditions of garment workers, who often face low wages and unsafe environments. By supporting sustainable brands, consumers can contribute to improving the lives of these workers.

CENTRESTAGE 2023 was a dynamic celebration of fashion, featuring over 240 brands and designer labels from 15 countries and regions. Its global appeal attracted fashion enthusiasts and industry professionals from around the world. Among the standout moments was the Fashion Hong Kong Runway Show, which prominently championed "sustainable fashion" as its central theme. Leading the way were designers such as DEMO, Children of the discordance, and FETICO, renowned for their unwavering commitment to sustainability.

CENTRESTAGE went beyond the runway, offering a plethora of engaging events, including seminars, workshops, and networking sessions. These platforms not only served as a learning ground for industry insiders but also facilitated valuable connections.

The 2023 edition of CENTRESTAGE proved to be a resounding success, garnering positive feedback from both exhibitors and attendees alike. The event holds a pivotal role in fostering the development of the fashion industry in Hong Kong and Asia, acting as a launchpad for brands and designers to showcase their work and connect with potential collaborators.

Emphasis on Sustainable Fashion

A noteworthy takeaway from the event was the prominent focus on sustainable fashion. Many of the participating brands and designers demonstrated their commitment to environmentally conscious practices. This shift toward sustainability is pivotal, underscoring the industry's evolving awareness of its environmental footprint.

The sustainability aspect displayed by exhibitors at CENTRESTAGE 2023 was impressive and reflects the industry's growing commitment to sustainability. Some exhibitors showcased their dedication in the following ways:

• DEMO: This Hong Kong brand wowed attendees with a collection crafted from recycled materials, including ocean plastic and post-consumer waste. Their manufacturing practices included waterless dyeing and zero-waste cutting.

• Children of the discordance: Known for their innovative designs, this Hong Kong brand incorporated sustainable materials like organic cotton and recycled polyester. Their commitment extended to water-based and non-toxic inks for prints.

• FETICO: Making its Hong Kong debut, this Japanese brand displayed a strong sustainability ethos. They utilized sustainable materials, such as organic cotton and recycled polyester, while ensuring their manufacturing processes were certified by reputable organizations like the Global Organic Textile Standard (GOTS) and the Fair Labor Association (FLA).

The event went beyond materials and processes, as exhibitors incorporated sustainability into their messaging and branding. For instance, Hong Kong's V&A drew inspiration from nature and sustainability in both their collection and branding.

The resounding focus on sustainability at CENTRESTAGE 2023 is a welcomed development for the fashion industry. It indicates a growing awareness among designers, brands, and consumers about fashion's environmental impact. Furthermore, it reinforces the idea that sustainable fashion can be stylish, innovative, and responsible.

Japanese fashion designer Emi Funayama and her brand FETICO made their Hong Kong debut at CENTRESTAGE 2023, Asia's leading fashion event. The brand was featured in the CENTRESTAGE ELITES show, which showcases the work of emerging designers from around the world.

Funayama's collection for FETICO was inspired by her own personal style and her love of vintage fashion. The collection featured a variety of classic silhouettes, such as A-line skirts and wrap dresses, in bold colors and prints. Funayama also used sustainable materials in her collection, such as organic cotton and recycled polyester.

The FETICO collection was well-received by critics and fashionistas alike. Funayama was praised for her unique aesthetic and her commitment to sustainability.

In an interview, Funayama said that she was excited to bring her brand to Hong Kong. "Hong Kong is a very fashion-forward city and I think my brand will resonate with the people here," she said. "I'm also impressed by the commitment to sustainability in the Hong Kong fashion industry. I think it's important for designers to be mindful of the environmental impact of their work."

Funayama's presence at CENTRESTAGE Hong Kong is a sign of the growing interest in Japanese fashion in Asia. Japanese designers are known for their innovative designs and their use of high-quality materials. Funayama's success at CENTSTAGE is likely to pave the way for other Japanese designers to showcase their work in Hong Kong and other Asian markets.

Emi Funayama and her brand FETICO are well-regarded in the fashion industry. Funayama is known for her unique aesthetic, which blends classic silhouettes with bold colors and prints. She is also committed to sustainability, using organic cotton and recycled polyester in her collections.

Funayama's presence at CENTRESTAGE Hong Kong was met with excitement from critics and fashionistas alike. Her collection was praised for its originality and sustainability.