As per a Hindustan Times report, a rebound in garment orders after demand crashed during spring shutdowns is helping to revive the Bangladesh economy.

Remittances from Bangladeshi workers employed overseas have also recovered, helping to relieve pressures from a pandemic quasi-shutdown during the spring. The Asian Development Bank is forecasting the economy to grow at a robust 6.8 per cent annual pace in the fiscal year that ends in June if current conditions persist.

That’s a much brighter outlook than in April-May, when global clothing brands suspended or cancelled orders worth more than $3 billion, affecting about 4 million workers and thousands of factories.

According to BGMEA, Bangladesh’s garment exports rose by 0.6 per cent to $3.9 billion in July, after plummeting 83 per cent to $520 million in April. Imports, which are reported on a quarterly basis, began recovering earlier, rising 36 per cent in May-June.

In August, exports rose 4.3 per cent from a year earlier, to $2.96 billion, mostly driven by apparel shipments, according to the government’s Export Promotion Bureau. Garment shipments totaled $5.7 billion in July and August.

Spearheaded by the Ellen McArthur Foundation, Wrangler has launched a new jean as a part of it’s the Jeans Redesign initiative. This initiative has established guidelines on the minimum requirements for durability, material health, recyclability, and traceability of denim jeans, with over 40 denim experts providing insight.

Wrangler has also committed to source 100 per cent sustainably grown cotton by 2025. The brand will achieve this joining the EMF’s Make Fashion Circular Initiative, which exists to drive collaboration between apparel industry leaders to ensure that clothes are made from safe, renewable materials, that new business models increase their use, and that old clothes are turned into new.

These new commitments will help Wrangler build a more resilient, regenerative cotton supply. Farmers planning to participate in Wrangler’s ‘Regenerative Jean’ collection have to submit evidence of improvements to soil health and the resulting environmental benefits of adopting regenerative agricultural systems. The submissions will be reviewed by the Soil Health Institute which will look for benchmarks like improvements in soil carbon, soil physical properties, biological properties and ancillary benefits to the environment.

To prevent goods suspected to have been made with forced labor from entering the US, the US Customs and Border Protection has issued ‘Withhold Release Orders’ to all its six Chinese entities. These goods are likely to be seized and destroyed if their origin cannot be proven as not being produced by forced labor, says Customs and Border Protection. The organization has classified goods produced at five companies or industrial parks in Xinjiang and one company in eastern Anhui province as WRO. One of Xinjiang's vocational skills education and training centers has also been named in the order. The import ban by Customs and Border Protection will cover entire supply chains for cotton, from yarn to textiles and apparel, as well as tomatoes, tomato paste and other regional exports.

However, according to an article in the New York Times, any move to block cotton imports could have huge implications for global apparel makers. Xinjiang is a major source of cotton, textiles, petrochemicals and other goods that feed into Chinese factories. Many of the world’s largest and best-known clothing brands rely on supply chains that extend into China, including using cotton and textiles produced in Xinjiang, in the country’s far west. About 85 per cent of China's cotton is produced in Xinjiang.

RIICO & FICCI will jointly organize the 7th edition of Vastra 2020 on a virtual platform from September from 23-27, 2020. The exhibition is expected to be attended by over 100 exhibitors. They will use new innovative features like downloadable soft copies of business cards, product literature, product videos, look and feel of products in the screen, video calls and chats.

This would be an all-encompassing trade fair on textiles and apparel and help revitalize existing business ties and forge new business relations. It will also provide opportunities to explore new locations for setting up businesses in India, disseminate technology and interaction with experts and R&D Labs for a solution in technology and latest trends.

The virtual expo will enable exhibitors to speak to customers through one-to-one audio/video calls, share informative material like e-brochures, visiting cards or any other document digitally with customers. Over 100 Indian prominent exporters from textile & apparel fraternity will participate with fully digital virtual stalls. The show will have over 800 buyers from more than 50 countries. They will be able to navigate virtual stalls, network with exhibitors on video and exchange business cards, download products profile and participate in B2B webinars.

A study conducted by the French Fashion Institute (IFM) found that despite the pandemic and a climate of global uncertainty 13.7 per cent of women and 17.1 per cent of men in Europe plan to increase their spending on fashion.

The study was conducted on 5,000 consumers in France, Germany, Italy and UK to understand their consumption outlook for the second half of 2020. It revealed 64.1 per cent of Europeans want to buy items made from eco-responsible materials and 30.1 per cent are even willing to spend more for them.

Further the study finds, majority of consumers will continue to pay close attention to labels. In Europe, 60 per cent will look to see where an item was manufactured, and 58.5 per cent will favor local manufacturing. Among 18-34 year olds, 33.1 per cent are even willing to boycott certain products made abroad.

The report concluded that though in the short-term, consumers favor a more thoughtful consumption, they remain attached to their fashion purchases. The outlook may even turn out to be positive once confidence is restored.

Raja Shanmugam, President, Tirupur Exporters Association has urged the government to extend six-month moratorium on exports, reports Textile Focus. According to him, this will help increase India’s garment supply to international brands post COVID-19. P Nataraj, CEO, KPR Mills, also expects India’s garment and textile exports to increase from last year. SP Apparels has asked Carter to produce new fabrics as it aims to move its production from China to India. Similarly AEPC has collaborated with Taiwanese and Korean entities to develop fabrics from manmade fibers.

During the year ended March 2020, exports by Tirupur garment exporters declined from Rs 26,000 crore to Rs 25,000 crore as COVID wiped away most exports in March. The city had originally aimed to export clothing worth Rs 28,000 crore clothing. Its domestic sales too remained flat during the year.

Consultants Bain & Co project China will lead the way in luxury recovery and Chinese consumers will cement their status as crucial drivers of the industry, accounting for nearly 50 per cent of the market by 2025. The Chinese domestic market saw a strong rebound recently as lifting of lockdowns and travel restrictions led to big splurge on luxury products by consumers. Upscale cosmetic group Estee Lauder attributed its gradual recovery primarily to this remarkable rebound in China. In fiscal year 2020 ending June, Estee Lauder registered a double-digit growth in China on almost every channel and across all product categories for almost every brand, the company reported in late August.

Luxury skin care brands like La Mer also recorded double-digit growth on the Chinese mainland, whose iconic facial cream was priced at a somewhat prohibitive 2,500 yuan ($370).

Likewise, sales in China for most of LVMH's brands turned positive compared with a year ago in the second half of March, said Jean-Jacques Guiony, Chief Financial Officer, LVMH Group.

It's unsurprising to see a gradual pickup of the luxury market in China as people lack conventional retail channels for luxury purchases, such as duty-free shops and outbound trips, said Peng Yanyan, head of the China consumer sector at UBS Securities, which remained rosy about the sector's performance in the country.

Organized by the Hong Kong Trade Development Council (HKTDC) and sponsored by Create Hong Kong (CreateHK) of the Government of the Hong Kong Special Administrative Region, the Centerstage virtual runway shows premiered today and will run upto September 19.

In its fifth edition, Centrestage focuses on ‘A World of Phygital’ as its central theme. The tradeshow combines physical and digital elements. Its new digital platform created in collaboration with Vogue Hong Kong features 23 countries and regions, including 130 new joiners such as Korean streetwear brand FlenoSeoul (under Gyeonggi Creative Fashion Studio Korea) and Taiwanese canvas craft brand Guang Fu Hao.

The premiere of the Fashion Hong Kong will have a ‘Space Odyssey’ theme, fusing various new designs with different virtual planets and eye-catching visual effects to take the audience on a creative journey. In this show brands will offer shopping discounts and limited-edition items to consumers joining an online giveaway campaign.

The ‘Next in Cheongsam’ show will feature the latest collections from two designer brands: Sparkle by Karen Chan - Modern Cheongsam and The Sparkle Collection - Modern Couture. Other not-to-be-missed runway shows include "FASHIONALLY Collection #15" and two Designers' Collections Shows, "Taipei in Style" and "Hong Kong en Vogue", which will be premiered online on 18 and 19 September respectively.

Another highlight of Centrestage will be the Hong Kong Young Fashion Designers' Contest (YDC) 2020 Final on September 19. At this contest, fourteen shortlisted candidates will compete for five awards this year, including a new category - the My Favourite Collection award.

Running until 30 September, the "Centrestage in Town" citywide campaign features fashion-related promotions partnering with fashion malls, restaurants, hotels and fashion-focused cultural landmarks in the city and featuring fashion showcases, workshop and shopping and dining offers. Members of the public are encouraged to join in to celebrate this iconic fashion event.

COVID-19 is leading to a reevaluation of the luxury business model in India. With the luxury market expected to contract 39 per cent in 2020, businesses across the country are being forced to either to adapt or perish, says latest McKinsey report. While some of these are resorting to new distribution channels, others are opting for an extension of their product lines, services and product categories.

Diversification for apparel makers

Luxury apparel and accessory makers, Dior and Loreal are making disinfectant gels at their facilities. Luxury British heritage label, Burberry has launched reusable and sustainable masks with anti-microbial technology so have designers like Anita Dogre and Shivan and Narresh. Delhi-based affordable luxury leather goods brand Damilano, is focusing on its ecommerce platform as is Ensemble which is shifting most of its offline inventory to its webstore.

While some brands are launching classic collections that last long, others are introducing smart casual collections. Besides offering private client appointments for physical store shopping, these brands are also providing personal shopping and styling sessions on Zoom or video chat.

Similarly luxe automobile makers like Lamborghini, Mercedes Benz. BMW and Tesla are shifting production to hospital ventilators, protective plexiglass shields and other medical devices. Mercedes-Benz India has launched a new e-commerce platform ‘Merc From Home’, which enables customers to purchase their favorite Benz from the comfort and safety of their home’. Pre-owned car maker, Big Boy Toyz is seeing a 75 per cent surge in its online sales.

Spurt in demand for home fitness equipment

The restriction of most fitness freaks to their homes increased demand for home fitness equipment. To explore this demand, Louis Vuitton launched a stylish range of home fitness equipment including dumbbells and skipping rope. The brand has also introduced a set of opulent playing cards under its homeware line to engage its patrons. According to McKinsey, companies that prioritized customer service witnessed a stronger rebound from the 2008 crisis. In the current scenario too, customer focus will prove to be the gamechanger.

Constrained by a slowdown in global economies and growing trade uncertainties, the International Monetary Fund revised its economic outlook in July 2018 from 3.9 per cent to just 2.9 per cent in January 2020. As per Textile Network, the IMF report cites weakening of large emerging markets and geopolitical tensions as some of the reasons for this deceleration in machinery investments and household consumption.

Spunlaid nonwoven dominate global fiber supply

Adverse business conditions affected the textile value chain as global fiber supply was mostly dominated by spunlaid nonwovens. The total supply of these nonwovens accounted for 120 million tons, while the cultivation of natural fibers decreased by 3 per cent to 32 million tons. Cotton output declined to 26 million tons and wool output fell by 1 per cent. The supply of other natural fibers remained stable.

The supply of viscose staple fibers, including modal and lyocell increased, by 8 per cent. Though the supply of filaments declined slightly; acetate tow experienced modest growth. Supply of synthetics grew 5 per cent while that of acrylic and polypropylene fibers weakened. Growth of small-scale fiber segments like aramid, carbon and spandex fibers decelerated.

Natural fibers supply declines for 10th year

Registering a decline for the tenth straight year, growth of natural fibers fell to 3 per cent in 2019. This was primarily owing to reduced cotton production in the 2018-19 season. Global supply of cotton declined from 7 per cent in 2018 whereas manmade fibers grew over 6 per cent with synthetics, especially polyester advancing by 5 per cent.

As per the report, textile and clothing trade of 60 countries, including their extra shipments to the EU, reduced in 2019. Exports declined by 1.3 per cent while imports fell 1.7 per cent. Chinese exports softened by1.9 per cent to $272 billion as its apparel shipments dropped by 4.0 per cent to $151 billion.

Textile imports decline, apparels surge

In the first half of 2020, US imports declined 10.1 per cent. Of all its importing countries, textile imports from China surged over 25 per cent while apparel imports contracted 22 per cent. Textile imports from Bangladesh increased to $36 billion while apparel imports declined by 85 per cent in April and 62 per cent in May.

Textile imports from Vietnam, Myanmar, Cambodia and Brazil increased by 6 per cent, 23 per cent, 10 per cent and 38 per cent respectively. Brazil became the second largest cotton exporter during the year and its position is expected to improve in 2019-20 season as projected in ICAC’s July release for production, exports and ending stocks.