The European Commission has approved the legislative proposal to improve the European Union’s (EU) generalized scheme of preferences (GSP) and extend its period from 2024 to 2034. Through its proposal the Commission aims to make GSP more focused on reducing poverty and increasing export opportunities for low-income countries. It also aims to incentivize sustainable economic growth in low-income countries and offer new room for engagement on environmental and good governance issues.

The new GSP framework strengthens the EU's ability to use trade preferences to create economic opportunities and advance sustainable development. The modernized framework also expands the grounds for the withdrawal of EU GSP preferences in case of serious and systematic violations.

The new proposal ensures smooth transition for all countries set to graduate from Least Developed Country (LDC) status in the next decade. These countries can apply for the special incentive arrangement for sustainable development and good governance (GSP+) if they commit to strong sustainability standards and can thus retain generous tariff preferences to access to the EU market.

The new scheme also proposes to set up a well-defined framework for the current GSP+ beneficiaries to adapt to the new requirements, offering an adequate transition period and requiring the presentation of implementation plans.

With Sri Lankan apparel industry’s order books for October-December quarter being full, the Fabric and Apparel Accessories Manufactures Association (FAAMA) is confident of achieving the $ 800 million turnover target for the year. As per a Daily FT report, despite facing many challenges last year, the apparel industry staged a major recovery that confirms its relevance to the growth and way-forward strategy of overall exports of the apparel industry. FAAMA is a key sub-sector of the $5 billion apparel industry, which has grown to be worth $800 million from $500 million a few years ago.

Apparel factories in the country are currently operating in full swing, adhering to the Health Ministry stipulated protocols, despite additional cost borne by the manufactures, says Pubudu de Silva, Chairman FAAMA. Manufacturers’ value additions increased from 30 to 50 per cent over the past five years. In-country sourcing has helped Sri Lanka save foreign exchange outflow, besides tightening control over supply chains.

The government had earlier set an ambitious $6 billion export target for the apparel industry but it was later revised to $5.1 billion due to setbacks resulting from the fourth wave of COVID. Last year, apparel exports dropped to $4.1 billion from $ 5.6 billion in 2019.

The country faces port-related logistics issues that it hopes to resolve with the help of Joint Apparel Association Forum (JAAF) and relevant authorities. However, the foreign exchange crisis in the country has aggravated the challenges faced by all exporters. FAAMA is also working closely with the Government to find sustainable solutions for waste management issues.

Asahi Kasei plans to restructure its production strategy across Europe to face the new, unexpected and critical market situation. As a part of this process, the company will discontinue production and sales of Roica’s German subsidiary, Dormagen-based Asahi Kasei Spandex Europe GmbH, by March 31, 2022. However, the group will continue to develop sales, technical and marketing services in Europe through Asahi Kasei Europe, the European regional headquarters of the Asahi Kasei Group in Dusseldorf, Germany.

As per a Spin Off report, the company will continue to serve the European market through manufacturing sites in Asia including Japan (Shiga prefecture), Taiwan (Taipei), China (Hangzhou) and Thailand (Chnonburi). The company is discussing an appropriate withdrawal process for Asahi Kasei Spandex Europe’s current workforce of 181 people. The Japanese chemical specialist markets the premium stretch brand Roica through production sites in Japan, Thailand, China and Germany and sales facilities around the world,

A Citi Research survey finds that Nike and Adidas have regained their popularity with Chinese consumers following uproar in March with several Western companies over their stance on China’s Xinjiang region.

As per a SGB Media report, Nike, Adidas, H&M and other major Western apparel brands had faced a boycott in China over past comments the fashion brands made about labor conditions in Xinjiang’s Western region, home to Muslim Uighurs, becoming embroiled in a diplomatic row between China and the West. China denied allegations of human rights abuses after the European Union, U.S, Britain and Canada imposed sanctions on the officials.

Citi’s September survey followed a survey of 1,000 Chinese consumers conducted in June that was already showing a gradual recovery in the health of western athletic brands.

When asked which athletic brands they considered purchasing next, 81 percent of Chinese consumers surveyed indicated they planned to buy Nike in September, up from 48 percent in the June survey. For Adidas, 49 percent said they planned to buy Adidas, increasing from 31 percent in June.

Peak and Li Ning were down significantly on purchase intent from June to September, with 7 percent and 4 percent of respondents considering purchasing Peak and Li Ning in September, down from 54 percent for both in June.

US’ import of brassieres – foundation garment and shapewear category –remained positive in January-July ’21 period.

As per an Apparel Resources report, the of US’ brassiers imports surged by 54.34 per cent during the seven month period to reach $1.60 billion. All top five exporting countries in brassieres category saw double-digit growth to the US while Honduras – the 7th top shipper – grew in triple digits.

China’s shipments grew by 54.36 per cent on Y-o-Y to $525 million while Vietnam clocked $313.14 million, increasing its export by 55.43 per cent on Y-o-Y basis during the period

Sri Lanka, Indonesia and Bangladesh shipped brassieres products to US worth $ 149.22 million, $147.85 million and $93 million, respectively; noting 39.40 per cent, 70.59 per cent and 46.58 per cent yearly growth.

Honduras doubled its shipment of brassieres products to $52.75 million and witnessed a whopping 107.12 per cent yearly growth in the US market.

The demand for a wide range of products, such as control camisoles, corsets, body shapers, singlets and body briefs, is likely to boost the market growth even more in the US in months to come.

Nike Inc has cut its fiscal 2022 sales predictions as it expects the holiday shopping season to be delayed due to a supply chain crunch that has left it with soaring freight costs and products stuck in transit.

The Beaverton, Oregon-based company now expects a mid-single-digit increase in full-year sales growth, versus the low-double-digit increase it had previously estimated.

Nike also expects second-quarter revenue growth to be in the range of flat to down low-single digits versus the prior year due to factory closures. Brokerage BTIG this month downgraded Nike's stock, saying the risk of significant cancellations beginning this holiday and running through at least next spring has risen materially for Nike.

Nike’s revenue rose to $12.25 billion from $10.59 billion in the first quarter ended Aug. 31, while analysts on average had expected $12.46 billion, according to IBES data from Refinitiv. The brand’s net income rose by 23 per cent to $1.87 billion, or $1.16 per share, in the first quarter.

Apparel retailers have had to grapple with higher raw material costs, and spend more on shipping to get their products in stores on time. Apparel companies including Abercrombie & Fitch and Adidas AG have also taken a hit to their businesses due to production issues in Vietnam. Lockdowns in many parts of the country are set to last at least until the end of September.

Messe Frankfurt is launching a new trade event, under the name Val:ue, for the mainstream fashion segment.

As per a Spin Off report, the event will be held parallel to the core events as part of Frankfurt Fashion Week from January 18-20, 2022.

The trade show will represent new looks and groundbreaking trends for the coming season from the segments of women's and men's clothing, shoes, leather goods, accessories and lifestyle, with the focus on companies with great brand awareness and a good distribution network that position themselves as drivers of innovation in retail.

In addition, Val:ue is to be supplemented by the pre-stage topic of Apparel Sourcing in Fashion. In this area, established as well as emerging players will show turnkey solutions for all participants of the fashion market–including white labels and private labels.

The new event will also address the topic of sustainability. It will support the 17 Sustainable Development Goals (SDG) of the United Nations. The SDGs will already be addressed at the inaugural event and will become a binding condition of participation for all participating companies from 2023.

A technology platform that enables consumer goods companies to measure, manage, and share the social and environmental impacts of their full value chain, Higg has launched a new program enabling comprehensive traceability across the global supply chain. As per Textile World, the Higg traceability program aims to fast-track global brands’ efforts to track the hidden impacts within their manufacturing processes, ensure fiber integrity, and to understand, communicate, and accelerate product sustainability.

The Higg traceability program is designed to enable consumer brands to identify and share the supply chain provenance of billions of items with their upstream value chain partners and highlight and disclose sustainability information – on their own and other ecommerce platforms – to the public and other stakeholders.

The program launches with a cohort of innovation partners including atma.io by Avery Dennison, FibreTrace, and TrusTrace: leading solution providers in the end-to-end tracking of materials and product origins, and unified in identifying and illuminating essential sustainability management data. These providers will be integrating their unique services onto the Higg platform in order to connect a network of 45,000 users, 500 brands and retailers, and tens of thousands of manufacturers’ factories, bringing product chain-of-custody tracking to the robust platform.

US denim producer Cone Denim has appointed Amie Borges as the new Senior Vice President-Commercial Strategy. As per a Spin Off report, Borges will lead the global sales team and work closely with the product, operations and manufacturing teams.

Prior to joining Cone Denim, Borges served in a number of leadership roles across apparel brands, most recently as Vice President Sales - North America and Asia with 7 for all Mankind. Throughout her diverse roles, she has led brand transformations and revenue growth, while overseeing all aspects of product life cycles across North America, South America and Asia, Cone Denim states.

A graduate of the Fashion Institute of Technology, Amie Borges has a Bachelor’s degree in Fashion Merchandising Management, Magna Cum Laude. In her new role she is based out of Cone’s New York office and will begin connecting with customers over the coming weeks.

Cone Denim operates as part of Elevate Textiles, Inc. with manufacturing capabilities in Mexico and China and a global network of sales, product and merchandising professionals based out of Greensboro, NC, New York, Los Angeles and Hong Kong.

A Delhi-based footwear firm, Empyrean Luxury plans to use the ‘PETA-Approved Vegan; mark to help shoppers choose vegan items and accessories. House of Anita Dongre, Welspun India, Purvi Doshi, Paperdom, and PAIO are among the other Indian companies, designers, and brands that use the mark.

Recognized for its Italian elegance and high-quality footwear, Empyrean Luxury is celebrating its move from leather to veganism by utilizing the hashtag #WeLoveAnimals on its website and offering a 10 per cent discount to customers who use the purchase code “GOVEGAN.”

By embracing vegan fashion, the company commits to stand as a socially responsible business and never advocate any form of cruelty to animals in any way, says Saksham Chaudhary, Owner, Empyrean Luxury. The company’s most sought-after vegan shoes are designed to assist shoppers in putting an end to cow cruelty.