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As per the August crop estimates by USDA’s National Agricultural Statistics Service (NASS), US cotton output is expected to rise by 18 per cent over last year’s harvest. A report by the Textile Value Chain informs, US’ overall cotton output is expected to rise by 18 per cent from 2020 to 17.3 million 480-pound bales. The overall area under cotton cultivation is estimated decline by 3 per cent from last year. The total cotton acreage harvested is expected to rise by 25 per cent over 2020 to 10.4 million acre.

Cotton production in Georgia is expected to increase by 6 per cent to 2.30 million bales. Production in Alabama is also expected to rise by 6 per cent to 780,000 bales while Florida production is expected to rise by 36 per cent to 140,000 bales. Total cotton production in 2020 is forecast to rise to 17.3 million 480-pound bales.

  

At the closing ceremony of Men’s Apparel Guild in California, Tipu Munshi, Commerce Minister, Bangladesh revealed the government‘s plans to increase RMG exports to the United States. As per a Textile Today report, Bangladesh’s products are popular across the world for their price, quality, and design. The present Awami League government is taking necessary steps to increase the country’s RMG exports to the US, said Munshi. It is also focusing on improving the quality of its products, and launching new designs, he added.

Munshi invited the US RMG traders present at the event to visit Bangladesh and inspect its RMG factories. Several US businessmen expressed interest in working on the work environment, production costs, healthcare, and sustainable development in these factories. They also assured Bangladesh of marketing RMG products in their country.

  

The apparel sector will help India achieve its target of $400 billion exports in the current fiscal year, said A Sakthivel, Chairman, APEC. Addressing the council members at the 42nd Annual General Meeting he said, India’s apparel exports to major markets such as the US, Europe, UK, Saudi Arabia, Canada, Japan and Australia are growing at a healthy rate. From January-May 2021, India’s exports to the US increased 22 per cent compared to the same period of previous year.

The government has fast-tracked free trade pacts with the European Union, UK, US, Australia and Canada to exports. Indian exports face a duty disadvantage of 9.6 per cent for exports to EU vis-a-vis exports from other countries like Bangladesh, Cambodia, Turkey, Pakistan and Sri Lanka. In the UK, Bangladesh continues to enjoy preferential trade benefits after the UK's departure from the EU, Sakthivel added.

  

Tommy Hilfiger has launched the Tommy X Romeo capsule collection for autumn 2021 in collaboration with Brooklyn designer Romeo Hunte.

As per a Textile Value Chain report, the limited-edition piece collection combines two distinct design approaches to create a modern perspective on streetwear. It uses Hunte’s deconstruction to recreate artefacts from the Tommy Hilfiger archives in this collection. The result is non-gender-specific outerwear and deconstructed outfits that seamlessly combine Hilfiger prep with Brooklyn streetstyle. Hunte collaborates with Hilfiger to reinterpret classic Hilfiger looks to produce refined pieces with a twist. Items are cut to unusual proportions and have out-of-place fastenings and hems to create unique silhouettes.

With clashing fabrics and colors for bold twists, Hunte’s inclination to recycle materials adds a mixed media touch to each item. The legendary Tommy trench coat has been reconstructed into a three-way jacket with bright yellow sleeves and text on the back. Another is a brilliant green blazer with zips at the side seams that remove the sleeves and restructure the jacket’s frame. Hunte used old Hilfiger fabrics to produce a selection of runway and ready-to-wear outfits, similar to a previous AW2020 Romeo Hunte collection. Hunte recycled 12 vintage pieces supplied by Hilfiger, who then designed a variety of deconstructed suits and outfits in his distinctive style.

  

Marks & Spencer will incorporate six guest brands as a part of efforts by Steve Rowe, CEO to transform the business after the pandemic.

The brand will incorporate few items from popular labels including Cornish-based Celtic & Co, sustainable fashion company Albaray and outdoor gear specialist Craghoppers will feature on M&S.com. It will also include brands such as Fat Face, Jones Bootmaker, and kidswear brand Frugi.

The retailer will also curate a few customer specific brands such as Hobbs and Phase Eight that offer smart frocks and 'occasionwear'. It will also offer lingerie from Sloggi and Triumph alongside its own underwear.

The brand’s new initiative to act as a platfom for other labels is known as 'Brands at M&S' and was launched in the spring. Marks isalso expanding its beauty offer to include brands such as Boucleme. It has also signed deals with kids' stationery brand Smiggle and Clarks shoes.

  

The sixth edition of Centrestage fashion event will be held in a physical format from September 10-12, 2021.

To be organized by the Hong Kong Trade Development Council (HKTDC), this year’s show will be held at the Hong Kong Convention and Exhibition Centre in Hong Kong The event will have Chapter Infinity as its central theme. Its opening event CentrestageElites, will showcase the latest collections from Hong Kong fashion brand The World Is your Oyster and Korean fashion brand Youser.

Other events at Centrestage will include Fashion Hong Kong Runway Show, Fashionably Collection #17 and the annual Hong Kong Young Fashion Designers’ Contest (YDC). The fair will also present collections from some of the highlighted brands at the media event’s fashion parade. Celebrity artistes Panther Chan and Ansonbean will be guest models for the show.

The media event will also feature a preview of Fashion Summit (HK) 2021 by event chairman Felix Chung.

  

To raise funds via a share sale, Go Fashion India owned womenswear brandGo Colors has filed Draft Red Herring Prospectus (DHRP) with the Securities Exchange Board of India (SEBI).

As per an Indian Retailer report, thebrand proposes to utilize Rs 33.73 crore from proceeds towards funding the rollout of 120 new exclusive brand outlets (EBOs) in India during the fiscal year 2023. As of May 2021, the company had 450 EBOs located across 115 cities.

It also proposes to utilize Rs 61.40 crore to fund working capital requirements. As of June 2021, its total sanctioned limit of working capital facilities stood at Rs 65 crore, including fund-based and non-fund-based sub-limits.

The initial public offering (IPO) comprises a fresh issue of Rs 125 crore and an offer for sale (OFS) of up to 12.88 million shares by its existing shareholders and promoters.

Founded in 2010 by VinodSaraogi and PrakashSaraogi, Go Fashion India is among the largest women’s bottom-wear brands in India, with a market share of approximately 8 per cent. It is engaged in the development, design, sourcing, marketing, and retailing of a range of women’s bottom-wear products under the brand, ‘Go Colors'.

  

The Cotton Association of India (CAI) has estimated the total cotton supply during October 2020-July 2021 at 489.50 lakh bales, consisting of the opening stock of 125 lakh bales at the beginning of the season, cotton crop for 2020-21 at 354.50 lakh bales and imports estimated by at 10 lakh bales. The imports are lower by 5.50 lakh bales from the previous year's import of 15.50 lakh bales.

Further, the CAI has estimated cotton consumption during the season at 275 lakh bales, while the export shipment of cotton up to July 31, 2021, is estimated at 70 lakh bales.

The stock at the end of July is estimated by the CAI at 137.61 lakh bales, including 80 lakh bales with textile mills and the remaining 57.61 lakh bales with the Cotton Corporation of India (CCI), Maharashtra Federation, and others (MNCs, traders, ginners, etc).

CAI estimated the total cotton supply till the end of the cotton season (up to September 30) at 489.50 lakh bales, consisting of the opening stock of 125 lakh bales at the beginning of the season, cotton crop for 2020-21 at 354.50 lakh bales and imports estimated by at 10 lakh bales. The imports are lower by 5.50 lakh bales from the previous year's import of 15.50 lakh bales.

Domestic consumption for the crop year 2020-21 is estimated higher by 5 lakh bales to 330 lakh bales considering the brisk demand for cotton yarn despite disruptions caused by lockdown to arrest spread of the second wave of COVID-19, CAI noted.

CAI has also increased the exports estimate for the season from its previous estimate of 72 lakh bales to 77 lakh bales.

Saturday, 14 August 2021 17:16

Asics’ Q2FY21 sales grow by 42.6%

  

The Q2FY21 sales of Japanese sports apparel and footwear producer Asics grew by 42.6 per centto ¥209.5 billion in Q2 FY21 compared to ¥146.9 billion in the same period of previous fiscal. The sales for the period were driven by Performance Running and the Onitsuka Tiger category.

The brand’s Performance Running sales increased by 54.2 per cent to ¥108.6 billion, while sales from China boosted Onitsuka Tiger’s sales 34 per cent to ¥21.0 billion. Moreover, Core Performance Sports, Sports Style, and Apparel & Equipment category sales surged ¥23.4 billion, ¥17.1 billion and ¥16.7 billion respectively.

Gross profit for Q2 FY21 was up to ¥105.4 billion, while profit improved to ¥12.3 billion against loss of ¥6.2 billion in second quarter of 2020. Operating income totalled to ¥23.9 billion.

The company’s sales in Japan in the three-month period rose by 23.0 per cent to ¥57.8 billion. Sales from North America grew by 50.6 per cent to ¥42.8 billion, whereas European region sales jumped by 55.9 per cent to ¥57.8 billion.

 

From greenwashing industry needs to shift to more responsibleThe use of fossil fuels is still quite rampant in the fashion industry, says latest study by Changing Markets Foundation. The report titled “Synthetics Anonymous,’ shows the industry uses cheap fossil fuel-based synthetic fibers in a big way. Polyester is used in over half the textiles produced across the world. This leads to greenwashing by most brands across their voluntary commitments and products. And according to UK’s Competition Markets Authority (CMA) guidelines it can create legal complications for brands in future.

Brands ignorant to rising pollution

The ‘Changing Market Foundation’ report highlights fashion brands’ ignorance on the growing plastic pollution and wasteFrom greenwashing industry needs to shift to more responsible production crisis stemming from increasing use of synthetic fibers. The report shows, brands often resort to greenwashing tactics such as downcycling polyethene terephthalate (PET) bottles to clothes instead of designing them to be durable and recyclable. They also lack a systematic approach to address the environmental and health risks pollution.

The report states, only 36 of the 46 surveyed brands were open about the percentage and weight of synthetic materials used in their collection. Sports brands Adidas, Asics, Nike and Reebok were using synthetic materials in almost all their collections and had no plans to stop. Only Puma assented to reducing the proportion of polyester used in its collections.

The worst-performing brands in the survey included 15 sports, high-street, luxury and department-store companies like Nike, Target and Walmart. They revealed a complete lack of engagement, commitment or even transparency on the use of fossil fuels in their collections.

Some brands plan to curb the use of fossil fuels in their collection by using ‘recycled’ polyester, made from PET bottles. Around 85 per cent companies indicated using polyester from downcycled PET bottles to make their clothes more sustainable. However, none of the companies reported using fiber-to-fiber recycling technologies to ensure a truly circular economy.

Pinning ‘responsibility’ with new laws

Despite not having any ‘takeback’ scheme or fiber recycling technology, brands were seen to be making misleading claims about their sustainability initiatives. They claimed to use ‘sustainable’, ‘preferred’, ‘sustainably sourced’ or ‘sustainably made’ materials that cannot be clearly defined. Hence, policymakers need to introduce new laws to boost sustainability in the fashion industry. They need to encourage the industry to break away from the use of cheap synthetics and move to more responsible production.