Global Fashion Group (GFG) has entered into a partnership with Global Fashion Agenda (GFA). As the only strategic partner operating across Latin America, the CIS, Southeast Asia and Australia, GFG will help support GFA’s ambition in spearheading the fashion industry’s journey towards a more sustainable future. GFA is responsible for the Copenhagen Fashion Summit and thought leadership publications, including fashion on climate and fashion CEO agenda. GFG’s people and planet positive agenda illustrate the group’s journey and commitment to being a company that integrates sustainability into the core of its operations by applying the highest duty of care to its people all over the world and its supply chain.

GFG will also play an active role in the development of Global Fashion Agenda’s thought leadership platform and Fashion CEO agenda, alongside a number of other various fashion leaders from all aspects of the industry. The agenda aims at encouraging brands to implement circular design strategies into their production, including the insertion of used garments, resold pieces and recycled post-consumer textiles toward their supply chain.

Global Fashion Agenda strives to bring together partners that represent industry perspectives from across the world and from various parts of the supply chain. Global Fashion Group has demonstrated strong commitments to sustainability.

Bangladesh Denim Expo will be held on May 10 and 11, 2022. With the realization of the importance of sustainability in the fashion industry, the third edition of Sustainable Apparel Forum (SAF) will be organized alongside the denim exposition. The previous edition of Bangladesh Denim Expo was in November 2019.

Denim offers Bangladesh great prospects as it holds future business possibilites. With huge demand from global retailers and brands, the country has established some 30 denim mills. These meet 40 per cent of the demand for denim fabrics from garment makers. The remaining demand is met through imports, mainly from China, India, Turkey and Pakistan. Bangladesh has overtaken China in denim supply to the EU countries because of quality products at competitive prices. Due to the focus on sustainability Bangladesh denim fabric makers have dramatically reduced water consumption over the last few years with the adoption of the latest technologies in production. The target is to reduce water consumption by 80 per cent in the denim making process.

Demand for denim is on the rise worldwide from both men and women. Annually 2.1 billion pieces of denim are sold globally. The denim sector is growing by 15 per cent year on year.

Australia is mulling processing wool domestically. With over 90 per cent of Australia’s greasy wool exported to China, supply chain security is key for Australia’s wool future, says a Queensl and contry life report. China is a dominant player in early stage processing and can very much control that market. So there is an increasing appetite to do more processing in Australi, but money is an issue. In early October production in wool conversion plants were reduced by up to 40 per cent resulting in a sharp fall in the Australian wool market.

Those in the industry are now hoping the situation in China will encourage investment in more plants in Australia. The aim is to capture three value-adding steps in wool processing - scouring and carbonising, top-making, and yarn spinning and dying. This would need around 10 million kg of greasy wool a year, which can be bought on the Australian market. Last year, the Blackall-Tambo Regional Council commissioned economic consultants AEC to conduct a feasibility study into the proposed Blackall facility. It found it would create 88 full-time jobs during construction and 812 full-time jobs in the region once operational, including 270 directly associated with the scour. It also found the operation would generate $116.3 million in gross regional product per year.

As per Queensland Wool Processors, chaired by Central Queensland University chancellor John Abbott AM, it is using a feasibility study as the basis for claims it would capture three value-adding steps in wool processing - scouring and carbonising, top-making, and yarn spinning and dying.

In reality the idea of processing domestically has simply been a reaction to processing becoming more expensive in China. In the 80s there were many processors in Australia but eventually they got forced out because of competitive pressure from China. They couldn't compete with cheap Chinese labor and eventually China took over the game. Today, things have changed and China’s labor costs have risen and continue to rise.

The impact of prolonged factory shutdowns in Vietnam is likely to be worse than many apparel and footwear retailers have planned for and may last well into 2022, says Wall Street research firm BofA Securities. Recovery in Vietnam will be more gradual than retailers are anticipating and businesses are being too optimistic about turnaround times. Reopening of the economy in Southern Vietnam — where many apparel and footwear producers are housed — has been moving much slower than in the north.

Vietnam experienced a devastating surge in Covid cases in July and August, prompting another round of local lockdowns. The temporary pause to production dealt a blow to companies such as Adidas and Nike, which rely heavily on the region for manufacturing their sneakers and athletic apparel.

Businesses have since started to reopen but vaccination rates remain significantly lower compared with other countries. Current factory operation rules in Vietnam remain strict and very complicated, which could hinder employees’ ability to return to work. Several factors weigh against expectations for a fast resumption in production activities. These include the likely persistence of labor shortages, rising raw material costs and supply chain disruptions in many other parts of Asia.

American imports of denim apparels in January 2021 to September 2021 surged by 28.56 per cent reveals latest OTEXA stats. Pakistan’s denim exports to the US were up 63.40 per cent in this period. However, Bangladesh has yet again remained top shipper of denim clothing to the US with 31.40 per cent yearly increase. Mexico’s exports of denim apparels to the US in the first nine months of 2021 grew by 46.53 per cent. The US market is embracing denim clothing well in 2021 after falling in 2020 and 2019 on a yearly basis.

China has lost its top supplier spot to Mexico. For the third straight month since the 15 per cent tariffs on denim jeans and associated products imported into the US from China took effect, shipments dropped significantly. This is an expansion of the erosion of sourcing from China for the category, after a 21.97 per cent year-to-date decline was posted in October. At the same time, a diverse array of suppliers, from Vietnam, Pakistan and Cambodia to Egypt, Jordan and Nicaragua, have consistently posted gains. US companies look elsewhere to save costs and reduce risks. They are accelerating the efficient and effective diversification of their manufacturing base.

For the second quarter Soma Textiles’ total income was Rs 8.34 crores against Rs 2.64 crores in the corresponding quarter of the previous year and Rs 4.12 crores in the previous quarter. Net profit/loss was Rs 4.69 crores against Rs 7.39 crores in the corresponding quarter of the previous year and Rs 3.20 crores in the previous quarter.

For the six month period total income was Rs 12.46 crores against Rs 2.97 crores in the previous year. Net profit/loss was at Rs 7.89 crores compared to Rs 11.76 crores in the previous year. Founded in 1969 Soma Textiles is synonymous with quality products and business value. Today the same entrepreneurial spirit along with technical innovation and advanced capability continues to service and inspire the domestic as well as global market. A well nurtured industry experience, expertise guidance, committed business approach coupled with qualified professionals and state-of-the-art manufacturing units has made Soma one of the leading textile conglomerates in India.

US fashion brands and apparel retailers face the challenge of running out of inventory amid the holiday season and the ongoing shipping crisis, reveals Shunglufashion’s recent analysis.

The analysis by University of Delaware Professor Shung Lu reveals clothing products targeting the premium and mass market face more significant shortages than luxury or value apparel items in the US. Increased demand from middle-class US consumers could be among the primary contributing factors. Seasonal products and stable fashion items are more likely to be out of stock. In the winter season, many swimwear products run out of stock. Stable fashion products like hosiery and underwear are also in short supply. The result could be the combined effects of consumers’ robust demand and the shipping delay.

Apparel products locally sourced from the US seem to have the rate of lowest out-of-stock. Clothing items sourced from Bangladesh and India report a much higher out-of-stock rate. However, a substantial percentage of Made in USA apparel was in the category of T-shirts, implying switching to domestic sourcing often is not a viable option for US fashion brands and retailers.

Additionally, fast fashion retailers overall report a much lower out-of-stock rate than department stores and specialty clothing stores. This result showcases fast fashion retailers’ competitive advantages in supply chain management, which payoffs in the current challenging business environment.

Spinning mills in Bangladesh are posting stellar profit growth. The price they are commanding has outgrown costs amid an increase in sales, especially for spinners who produce comparatively higher value yarns.

The profitability cycle began a year ago when Bangladeshi apparel exporters began to receive abundant orders from global buyers amid a disrupted supply chain worldwide. Except some with special problems or negative legacies, most publicly listed textile and spinning companies posted business growth for the 2020-21 fiscal year. Apparently, the trend is to continue in the first quarter of this fiscal year too.

Matin Spinning Mills, a concern of DBL Group, posted 212 per cent year on year growth in quarterly profits for the July-September quarter this year. Maksons Spinning Mills, which was struggling to maintain less than decent bottom line before the pandemic, is now flying high as its sales and profit margins have improved. In late 2020, Maksons’ share price began to recover as informed investors began to foresee the good days. Maksons plans a spinning mill project to manufacture high-value yarns which are offering a higher sales growth and of course a better profit margin.

China’s value-added industrial output increased 3.1 per cent year on year in September 2021 reveals National Bureau of Statistics data. This was up 10.2 per cent over the same period of 2019. The two-year average growth reached five per cent. It edged up 0.05 per cent from the previous month. In the first three quarters, China’s value-added industrial output grew by 11.8 per cent year on year.

Industrial output, officially called industrial value added, is used to measure the activity of certain large enterprises.

The manufacturing output increased by 2.4 per cent year on year in September and 12.5 per cent in the first three quarters. In September, the textile industry’s value-added output declined by 5.8 per cent while it increased by 3.7 per cent in January to September. By product, in September, the production of 255 out of 612 kinds of products increased year on year. The output of fabric decreased 1.2 per cent in September and increased by 10.1 per cent in January to September, while the output of chemical fibers dropped two per cent in September and rose 13.5 per cent in January to September. In September, the sales-output ratio of industrial enterprises was 98.2 per cent, down 0.4 percentage points from the same period of last year.

For the third quarter HanesBrands’ sales increased 5.8 per cent. HanesBrands is a US-based global marketer of branded everyday basic apparel. International sales improved six per cent. Global Champion brand sales increased 33 per cent over last year’s third quarter, driven by strong consumer demand across channels in the US and continued growth in Europe, and the ramp-up of partners in China.

On the other hand, US innerwear sales went up 12 per cent due to the combination of strong consumer demand across the company’s brand portfolio as well as the impact from pent-up consumer demand fuelling category growth rates above historical levels. Gross profit during the third quarter escalated to $699.6 million while operating profit rose to $234.6 million. Additionally income from operations increased to $176.7 million. By segment, the innerwear business fell 11 per cent whereas active wear sales surged 42 per cent driven by strong double-digit growth in both the Champion and Hanes brands.

The American clothing company anticipates a three per cent sales growth during the fourth quarter. It continues to make progress on its full potential plan as it invests in its iconic brands, builds talent, enhances e-commerce capabilities and modernizes its technology.