Athleta, the San Francisco-based apparel retailer has invested in the label Saysh founded in June 2021 by the American Olympic sprinter Allyson Felix and her brother Wes Felix.

The investment is part of an $8 million Series A funding round, led by Gap and consumer fund Iris.

Saysh will use the funding to scale its e-commerce business, wholesale distribution, and community-based retail footprint, according to a company statement Thursday.

The brand also plans to expand its product offering by launching new activity-specific sneaker lines.

Allyson Felix signed as Gap-owned Athleta’s first-ever sponsored athlete after leaving Nike in 2019. Felix called out Nike for allegedly proposing a 70 per cent pay cut in a new contract following the birth of her son.

Southern India Mills Association (SIMA) plans to organize an exhibition of textile machinery, accessories, and spares in Coimbatore from June 24 to 27.

The event will be held at CODISSIA Trade Fair Complex on the four days and will have 233 exhibitors displaying machinery and accessories in 312 stalls.

This year, it will focus on import substitution and the growing demand for electrical, electronics, spares, and components made indigenously.

The exhibition will be a platform for launching over 50 products. It is expected to generate a business of Rs 1,500 crore.

The exhibition will have 140 exhibitors from Tamil Nadu, the rest from other States and a few representatives of overseas companies. The fair, for which entry is free, is expected to attract one lakh visitors.

Sri Lanka’s garment exports surged by 13.7 per cent during January-April 2022 to $1,769.9 million as against exports of $1,556 million in the same period of previous year, according to the statistics released by the Central Bank of Sri Lanka.

Sri Lankan textile exports increased by 13.3 per cent year-on-year to $112.2 million during the period. However, exports of other made-up textile articles declined by 4.3 per cent Y-o-Y to $42.6 million during January-April 2022, according to the Central Bank’s report ‘External Sector Performance – April 2022’.

On the other hand, Sri Lanka’s imports of textiles and textile articles rose by 23.8 per cent to $1,161.7 million, while clothing and accessories imports surged by 25.3 per cent to $93.9 million during January-April 2022.

During the month of April 2022, garment exports increased 21.5 per cent to $409.3 million. The export of textiles rose 37 per cent to $28.2 million from the same period of last year while exports of other made-up textile articles up 19.7 per cent to $10.2 million in the same period.

Prices of cotton and yarn have declined in the recent weeks, say SK Sunderaraman, Deputy Chairman and Ravi Chairman, Ravi Sam, Southern India Mills’ Association (SIMA).

According to them, yarn is currently being sold at a discount price of Rs 20 to Rs 25 a kg in Tiruppur. Despite this, mills have been able to sell only 50 per cent of the yarn produced. Most of the mills have reduced production.

Cotton prices have also fallen significantly. The spot price quoted for Shankar-6 variety of cotton has fallen to Rs 91,000 (approximately) compared to almost Rs 1 lakh a candy last month.

With the Union Government permitting duty free imports till September 30 cotton prices started declining. The mills have sought extension of the exemption till December 31.

To be held from July 17-19, 2022 at Olympia London, UK’s leading trade fashion buying event Pure London has appointed international style agency Promostyl its Trend Agency Partner. Paris-based Promostyl has been advising global brands on fashion trends, brand strategy and collection development since 1966. At Pure London, Sebestian Renault, Artistic Director and Malaika Ewande, Assistant Creative Director will deliver three trend presentations on The Catwalk in partnership with Drapers.

The partnership will also include a trend podcast, digital style guides, and post-show trend reports. The presentations will delve on the trends and consumer behavior for Spring/Summer’23, Loungewear, and ethical and committed fashion:

Gloria Sandrucci, Event Director, Pure London says, “Promostyle’s expertise, its insights and trend predictions will be an invaluable resource for Pure London community and buyers.” Visitors to Pure London will also discover an exciting collection of British and international womenswear, jewellery, accessories and footwear from brands and designers including One Hundred Stars, etc.

Promostyl is an international style agency with headquarters in Paris and a network of offices in New York, Tokyo, Beijing, Shanghai and Guangzhou. Since 1966 the agency has been assisting companies at various levels: trend book fashion, market strategy, brand strategy, positioning, collection development, space collections, space creation, advertising & communication.

Rapid depreciation in the value of the rupee and growing global demand led to Pakistan’s textile and clothing exports growing 28.26 per cent Y-o-Y to $17.62 billion in the first 11 months of this fiscal year (11MFY22). As per Pakistan Bureau of Statistics (PBS), Pakistan’s textile and clothing exports grew 56.02 per cent Y-o-Y during May this year. RMG exports grew 30.63 per cent in value and 49.70 per cent in quantity during July-May, while knitwear exports increased 36.44 per cent in value but dipped 4.34 per cent in quantity. Value of bedwear exports grew 21.68 per cent. However, its quantity decreased by 15.19 per cent. Pakistan’s towel exports increased 21.66 per cent in value and 7.17 per cent in quantity, whereas exports of cotton cloth rose by 26.81 per cent in value and 7.14 per cent in quantity.

Exports of cotton yarn increased 24.18 per cent, and those of yarn made from material other than cotton increased by 109.68 per cent. Pakistan’s made-up article exports excluding towels surged by 15.19 per cent, while exports of tents, canvas, and tarpaulin dipped by 2.16 per cent during the period under review. During the review period, the export of art, silk, and synthetic textiles increased by 29.36 per cent.

Textile machinery imports increased 47.24 per cent Y-o-Y to $722.605 million in July-May. Import of raw cotton increased 25.28 per cent while the import value of synthetic fibers rose 19.29 per cent followed by import of synthetic and artificial silk, whose imports rose by 28.80 per cent during the period. In 11MFY22, imports of used clothing increased by 46.90 per cent compared to the same period last year.

An apparel exclusive show, the Indian Fashion Jewellery & Accessories Show (IFJAS) will host its 16th edition from June16-20, 2022 in Greater Noida alongside the India International Garment Fair (IIGF). IFJAS will be hosted by the Export Promotion Council for Handicrafts and open to overseas buyers, buying and sourcing professionals as well as domestic volume retail buyers.

This edition will showcase innovations in fashion jewelry and accessories, design and trend forecast theme pavilions, regional treasures, daily ramp sequences, live craft demonstrations among other collateral activities. The three day event will have over 150 exhibitors from across India. Buyers can scout for a wide product range including fashion jewellery, semi-precious jewellery, belts & wallets, hand bags & purses, fashion accessories, head & hair accessories, stoles & scarves, shawls, embroidered, beaded & sequined accessories; fancy footwear; and artisanal apparel. The show will be attended by artisans from across India, says Raj Kumar Malhotra, Chairman, EPCH.

Despite high inflation in the US and the EU markets, Bangladesh’s RMG exports to both regions surged during July to May of FY 2022-23. As per a Daily Industry report, the EU holds 50 per cent while the US holds 21 per cent share in Bangladesh exports. Both have witnessed a hike in commodity prices due to the Russia-Ukraine conflict. In the US market, the consumer price index (CPI) increased to 8.3 per cent year-over-year in April this year. While annual inflation in the EU grew to 8.1 per cent in May 2022, according to EuroStat, the statistical office of the European Union,

Despite this, the unit price of Bangladesh’s apparel increased 6.5 per cent in the US and 10.7 per cent in the EU market. Data from the United States International Trade Commission (USITC) also showed, average garment unit price rose 6.5 per cent to $3.3 for the US market during the July-May period of FY 2022-23. In the EU, garment prices for brands increased 10.7 per cent, shows data from the Eurostar.

As per the data of USITC and EuroStat, Bangladesh’s garment export volumes have also witnessed a significant rise in the two major markets helping achieve an excellent growth rate.

Bangladesh RMG export volume to the US market grew by 36.5 per cent to $1.89 billion during the period. Its knitwear exports grew by 40.2 per cent and woven garments exports increased by 31.2 per cent.

During the July-May of FY 2022-23 period, local RMG exporters received on average $2.1 per unit of knitwear garment in the US market. While woven products got on average $5.2.

In the EU market, knitwear clothes prices grew by 13.2 per cent to €13.4 per kg. And woven products’ price grew by 7.1 per cent to €15.4 per kg in the July-March of FY22.

Founded by Billi Hardwick and Marie Bouhier, hosiery brand Billi London is showcasing new eco legwear range at Salon International de la Lingerie (SIL), from June 18-20 June at Porte de Versailles in Paris alongside brands such as Rejeanne and Sisters Republic. Each hosiery item in this range is made with innovative enhanced degradable yarns Amni Soul Eco® nylon and ROICA ™ V550 elastane. The Amni Soul Eco ® yarn degrades in twenty faster than the normal 40-100 timeframe. It degrades in five years, breaking down into biomass and biogas and creating renewable energy. The soft yet chic fabrics have pioneered a change across the fashion sector that goes beyond just using recyclable materials.

The brand also features in The Selection, a guide of the organizers’ must-haves of the year based on their innovation, creativity and quality. Sophie Billi-Hardwick from Billi London will be one of the panelists in a fire-side style discussion titled ‘Women who change women!’ paying tribute to those women who innovate and make an impact on the conditions of other women worldwide. The talk will take place on Monday, June 20, 2022.

Voice of the European textile and clothing industry Euratex re-elected Italian textile entrepreneur, Alberto Paccanelli as President for two more years, in its General Assembly on June 17. Chief Executive Officer of the Martinelli Ginetto Group, Paccanel is lso a Board Member of Sistema Moda Italia and Confindustria Bergamo.

Presenting his vision for the future European textile industry, Paccanelli said, the EU Textile Strategy launched in March 2022, will change the industry’s nature. It emphasizes focus on not just sustainability, durability and transparency within the supply chain but also on enhanced communication with consumer, a better level playing field for European companies, and more investment in innovation, digitalization and skills development. Euratex too needs to actively contribute to this mission, he added.

Euratex GA also elected four other members: Bodo Bölzle (Amann, Germany), Jean François Gribomont (Utexbel, Belgium), Grégory Marchant (UTT, France) and Ismail Kolunsag (Cross Tekstil, Turkey). During the Assembly, EURATEX also welcomed new memberships from Ukrlegprom (Ukraine) and Astrico (Romania), and a partnership with Inditex (Spain) as Presidents.