The foreign direct investment (FDI) policy in the e-commerce space needs to be clarified and the sector promoted by plugging loopholes, said industry body PHDCCI in the letter to Anurag Jain, Secretary, Department for Promotion of Industry and Internal Trade (DPIIT).

The chamber said, online retailers are exploring loopholes in the current policy to conduct inventory-based e- commerce/multi-brand retail trade in the garb of running marketplace platforms.

The present policy allows 100 per cent FDI in marketplace e-commerce platforms and prohibits foreign direct investment in inventory-based models of e-commerce.

A report of the Parliamentary Standing Committee on Commerce has made some key observations and recommendations in the interest of the Indian consumer and other stakeholders who not only influence the consumers' choices in e-commerce but also shape the e-commerce ecosystem, it added.

Financial results released by Gap Inc for its second quarter ended July 30, 2022 show, the company’s net sales declined by 8 per cent to $3.86 billion compared to last year. Compared sales declined by 10 per cent Y-o-Y while online sales declined 6 per cent to represent 34 per cent of total net sales. Store sales declined 10 per cent compared to last year. The company ended the quarter with 3,390 store locations in over 40 countries, of which 2,799 were company operated.

The company expects to open about 30 to 40 Athleta stores and 20 to 30 Old Navy stores in fiscal year 2022. As part of its 350-store closure plan, the company continues to expect to close about 50 Gap and Banana Republic stores in North America during the year.

The National Institute of Fashion Technology (NIFT) has initiated a research project titled “National Sizing Survey of India” to develop a comprehensive size chart for ready to wear garments based on body measurements of the Indian population. Sanctioned in May 2017 by the Ministry of Textiles, within its Research and Development scheme, this project aims to measure 25,000 male and female persons aged 18 to 65 years old in six different regions of India using contactless 3D whole body scanners by Size Stream.

Size Stream’s scanners meet NIFT’s prescribed technical requirements at the lowest price. The company supplied three 3D whole-body scanners to NIFT for this very purpose. It provided technical support for scanner movements to the six locations throughout India. As of June 2022, NIFT has completed body measurements of over 21,000 people across five regions. All three scanners are working to their full potential and to the utmost satisfaction of the client.

Leading vertical garment manufacturer, The Hams Group, has selected Coats Digital’s FastReactPlan as an integral part of its digital transformation agenda. The solution will enable the company to connect and consolidate information across disparate sources into one highly visual unified system. This will enable management and employees to benefit from a clear overview of planning and production capacity to ultimately support enhanced customer satisfaction and drive new business growth.

Established in 1994, The Hams Group employs over 12,000 people, boasts an annual turnover of over 95 million USD per annum, and remains one of the leading vertical textile manufacturers in Bangladesh. The company specialises in knitwear, woven garments and lingerie, and its customers include H&M, Primark, K-Mart, Next, New-Look and Kohl’s, among many others. The Hams Group’s business portfolio includes knitting, dyeing, printing and sewing businesses, as well as specialist distribution and sports apparel arms.

ShaifurRahman, Senior Director, The Hams Group, says, FastReactPlan will provide the overaching data visibility we need to optimize efficiencies, enhance our customer service by delivering smaller and increasingly complex orders on time, and enable us to future-proof our business effectively so we can better navigate our uncertain world. Most importantly, FastReactPlan will enable the group to create meaningful growth plans based on accurate insights and informed business decisions so we can now fully propel our business forwards.

Primark aims to include all its lowest-priced T-shirts in its A/W essentials range under the Primark Cares label from this month onwards. The brand will incorporate cotton in all its lowest price T-shirts from menswear and kidswear ranges from Sustainable Cotton Program the largest of its kind of any fashion retailer.

As per a new research by Primark, around 35 per cent of UK consumers have expressed concerns over the cost-of-living crisis that prevents them from shopping more sustainably. This rises to 45 per cent amongst 18-34-year-olds.

Of the 33 per cent consumers in the 18-34-years-age bracket and 14 per cent in 35-54-year-olds say they prioritize sustainability over style when building their wardrobe. Nearly 46 per cent of those young people who care most about shopping sustainably don’t know where to find these options or how to style them

This younger age group is savvier than the previous generation of 35-54-year-olds at using hacks to dress more consciously on a budget. Around 31 per cent of them are building a capsule wardrobe and swapping while 41 per cent are selling clothes

Primark is working with fashion influencer Laura Byrnes to raise awareness of its Primark Cares label and inspire people to build a more sustainable capsule wardrobe for less, by styling up its Primark Cares essentials with the items they have in their closets already.

Almost 40 per cent of Primark clothing is already made from recycled or more sustainably sourced materials, and the fashion retailer has committed to making that 100 per cent of its clothing by 2030.

The first-half revenues of American fashion brand Guess Inc gained 8 per cent for the six-month period ending July 30, on the back of solid sales momentum in the second quarter.

The Los Angeles-based company’s total net revenue for the six months increased to $1.24 billion from$1.15 billion in the same prior-year period. Americas retail revenues increased 2 per cent, while retail comp sales, including e-commerce, decreased 2 per cent. Americas wholesale revenues increased 24 per cent.

Elsewhere, Europe revenues increased 9 per cent in US dollars and 23% in constant currency. Retail comp sales, including e-commerce, decreased 5 per cent in US dollars and increased 8 per cent in constant currency. Asia revenues increased 2 per cent in U.S. dollars and 11 per cent in constant currency.

Likewise, total sales for the second quarter increased 2 per cent to $642.7 million from $628.6 million in the same prior-year quarter. In constant currency, net revenue increased by 12 per cen.

Net income for the quarter fell by 60.8 per cent to $24 million from $61.1 million for the same prior-year quarter, with the earnings dive narrowing overall during the first half, down 21 per cent to $89.8 million.

Looking ahead, Guess said it expects revenues to decline by 4.5 per cent in US dollars tor the third quarter of fiscal 2023. For the full fiscal, it expects revenues to increase by around 1.5 per cent in US dollars versus fiscal 2022.

According to the China Customs, China’s polypropylene (PP) imports declined by 22.56 per cent Y-o-Y to 324,127 metric tons in July 202 compared to the same period of last year. However, the imports increased by 3.49 per cent M-o-M. Of all, imports of homo PP imports declined 22.69 per cent Y-o-Y to 213.4kt, imports of co PP declined 26.21 per cent Y-o-Y to 95.5kt while imports ofra co PP increased by 16.02 per cent Y-o-Y to 15.2kt.

The total export volume of PP in Jul 2022 was about 114.2kt, a year-on-year increase of 67.61 per cent; among which the export of homo PP was about 104.7kt, a year-on-year increase of 74.52 per cent.

From the monthly data, the export volume of homo PP has continued to decrease in the past three months. The main reason is that the price spread between RMB market and PP CFR China market continues to narrow, and the export arbitrage window shrinks or even closes (for example, at the end of July, the RMB price has once exceeded the PP CFR China price).

From the perspective of trading partners, the main sources of imports are South Korea, the United Arab Emirates, Japan and Singapore, with a total import volume of more than 60 per cent, and the ranking has basically remained unchanged in the past three months. Overall, the import situation is relatively stable.

Data released by the Central Agency for Public Mobilisation and Statistics (CAPMAS) shows, Egypt's cotton exports nearly doubled on a Y-o-Y basis in August 2021, with India importing the largest amount of Egyptian cotton.

By the end of last year's crop season, which ended in August 2021, Egypt’s cotton exports increased by 101.5 per cent to 1.7 million kantars from 874,000 kantars in the same period the year prior.

A rise in local production boosted Egypt’s cotton exports during the year. Production increased 33 per cent to 2.3 million kantars in 2021, an increase of around 33 percent compared to a year prior.

Around 87 per cent of Egypt’s cotton exports were imported by India, around 1.5 million kantars, according to CAPMAS.

Recently, Egypt has introduced a new auction system that allows farmers to sell their crops in line with international prices to boost production and revive the once-flourishing industry.

Lenzing has joined the Dutch Denim Deal, a public-private initiative that intends to accelerate sustainability and recycling in the industry.

The deal was initiated by the Dutch government and signed in October 2020. Among the goals in the deal is creating at least 3 million jeans with 20 percent or more post-consumer recycled content by the end of 2023. All of the signatories also agree to use at least 5 percent post-consumer recycled cotton across their denim collections as soon as possible.

The deal launched with 30 partners. And to-date, it has gathered signatories including brands, manufacturers and organizations. Among the deal signers are PVH Europe, Mud Jeans, Scotch & Soda, Transformers Foundation, Bossa, AGI Denim and Kipas.

To create a level playing field with competing countries, The Cotton Textile Export Promotion Council of India (Texprocil) has urged the Government to allow duty-free import of Extra Long Staple type.

The import duty on cotton has been removed till October 31. However, the government has exempted the specialized cotton variety ELS which is not grown commercially in India.

Tge move will help fabric and home textile exporters to fulfill orders of global brands and retailers at competitive prices and increase exports as other competing countries such as Bangladesh, China and Vietnam allow duty-free cotton imports, says ManojPatodia, Chairman, Texprocil

The annual world export of knit fabrics is about $42 billion of which India’s share is just 1.8 per cent at $763 million. The remission rate of 1 per cent fixed for cotton knitted fabrics does not fully reimburse domestic taxes. The rates for knit fabrics should be 4.3 per cent which will be in line with the rate for woven fabrics.

In the next 5-7 years, India’s textile industry can expand to $250 billion and achieve an export target of $100 billion, Patodia adds.