FW
Inditex net profit up ten per cent
For the first quarter Inditex’s net profit was up ten per cent.
The company’s net cash position increased by nine per cent. First quarter sales were up five per cent from last year. In-store and online sales showed a 9.5 per cent increase in local currencies between May 1 and June 7 – up from the 6.5 per cent in the previous corresponding period.
The clothing retailer’s record first-quarter sales and a rise in profits were helped by its push of stitching together its online and physical businesses. The retailer’s online business accounts for 12 per cent of its net sales. The figures demonstrate the solidarity of the company’s model, whose profitability and cash flow generation continues to grow owing to the group’s commitment to customer-driven quality fashion. Digital transformation of the integrated store and online sales platform and sustainability are key pillars of the company’s strategy.
Inditex owns the brands Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Uterque across its network of almost 7,500 physical shops. It also operates online in 49 markets. All of the group’s brands will adopt an integrated stock management system by 2020 in all the countries where there is a physical store presence.
Patagonia offers trade-in option
Customers can mail-in used Patagonia clothing in exchange for purchase credit.
This is part of the brand’s program to cut down on the amount of clothing ending up in landfill. Eligible clothing must function perfectly and be in good condition - complete with garment tags and in working condition. Items can be mailed in using a prepaid label. In exchange for accepted apparel, customers will receive credit that can be used to purchase items at Patagonia retail stores and on the company’s website.
Patagonia launched the program in 2017, repairing, recycling and upcycling used clothing. Previously, customers were required to bring clothing to any Patagonia retail location to participate and receive a credit. The new mail-in trade option comes as part of Patagonia’s effort to make sustainable practices as accessible to its customers as possible.
Patagonia aims at reducing the environmental impact of its company and supply chain and supporting regenerative practices in ranching and agriculture and envisioning a new approach to business. The brand is committed to reducing greenhouse gas emissions, defending clean water and air, and divesting from dirty technologies. Patagonia donates time, services and at least one per cent of its sales to grassroots environmental groups all over the world.
Suzanne Silverstein appointed new president of 7 For All Mankind
7 For All Mankind brand recently reappointed its former employee Suzanne Silverstein as its new president. In her new position, Silverstein will be based in New York and will be responsible for overseeing and leading the brand’s bicoastal teams.
A graduate from the Indiana University, Suzanne Silverstein was earlier employed with contemporary womens wear brand Parker, where she served as the president after quitting from her job as the Vice President for US wholesale market at 7 For All Mankind in 2014.
Prior to her time at 7 For All Mankind, she served as the CEO of Silverstein Consulting, having previously worked as SVP and consultant at Haute Look.
7 For All Mankind, which was acquired by Tel Aviv-based Delta Galil from VF Corp in 2016, has been reshaping its corporate and creative leadership teams since last year, when Macy’s alum Tim Baxter was announced as the brand’s new CEO.
The Lonati Group launches innovative textile production process
The Lonati Group, a world leader in the design, manufacture and marketing of circular hosiery machines, has recently launched an innovative solution known as the K-Fabric Revolution Process.
This is a further development of the Lonati Group’s technology in circular knitting machines which transforms a circular fabric into a linear fabric, with clear advantages for the company’s customers in both fabric quality and cost-effective terms.
The K-Fabric Revolution Process meets the market requirements for increasingly shorter manufacturing times, by optimising the production chain – from design to manufacture, including prototyping and sampling – thus making it possible to create new potentially revolutionary materials that can exploit seamless production flexibility at all levels, including the high-end of the market.
The fabric produced using this new process ensures so-far unthinkable gauges and, more importantly, a natural bi-stretch effect without adding spandex or elastane, in addition to quick-and-easy creation of jacquard patterns of any size, complexity and placement. Last but not least, the K-Fabric Revolution Process makes it possible to obtain an easy mix of fibres and rapid manufacture of economically sustainable small batches of fabric that can be easily subcontracted.
The possibility of transforming circular fabric into linear fabric makes the K-Fabric Revolution Process a new production paradigm par excellence, in order to efficiently meet both the expected increase in production demand in the high-end market segment and also changes in the supply chain models and the search for new materials.
Wrangler, Gap strive for sustainable denim production
Denim brands Wranger and Gap plan to increase their sustainability efforts during denim production. Wrangler recently introduced a new denim range called Indigood which is dyed with a process that eliminates 99.99 percent of the water used during the manufacturing process. This technique also uses 60 percent less energy compared to conventional denim dyeing, per Wrangler. The remaining .01 percent of water is used to clean machinery and mix solutions.
Indigood products are featured in the Wrangler ICONS Collection of products that include jeans, shirts and jackets in shades called Good Day (light) and Good Night (dark).
Gap Inc. plans to obtain 100 percent of its cotton from more sustainable sources by 2025 by working with advocacy group the Better Cotton Initiative (BCI) and seeking cotton that is organic, recycled, and verified American- or Australian-grown.
The company noted that although cotton cultivation supports workers in many communities, much of the crop is grown in areas where people have difficulty accessing clean water due to pollution and droughts, and that a single pair of jeans uses an average of 1,600 gallons of water throughout its full life cycle, 64 percent of which is used to grow the cotton.
By sourcing sustainably-farmed and -sourced cotton, the company encourages farmers to use water efficiently through better irrigation practices.
Gap Inc. has a manufacturing goal to conserve a total of 10 billion liters of water by the end of 2020, equivalent the daily drinking water needed for 5 billion people.
Liberty store launches first RTW collection
Destination department store Liberty recently launched its first own-brand ready-to-wear collection, which is also the first collection from its newly-appointed head of design, Holly Marler.
The 45-piece collection includes the brand’s signature Ianthe print and the 1950s Liberty ‘L’ design which have been worked alongside an on-trend feminine-retro vibe.
The collection comprises day and evening pieces, skirts, jackets, suits, shirts, robes and knits. For some pieces, the Liberty prints have been contrasted with plains in pattern/plain blocks, while others are a print jamboree in the retailer’s distinctive silks or Tana Lawn cotton.
It also features unfinished” elements like reversed Liberty Silk ribbon, as well as trompe l’oeil, sequin embellishment and the brands first-ever lace.
The collection has been inspired by influential female surrealist artists from the 1930s and the total unconformity and liberty of the Bloomsbury set. But there was also a 1970s edge with tiered ‘peasant’ dresses reminiscent of early Laura Ashley, focused on maxi lengths and intricate detailing.
PVH names Cheryl Abel-Hodges as the new CEO of Calvin Klein
PVH Corp has named Cheryl Abel-Hodges as the new CEO for its Calvin Klein division. Hodges, who served as group president for Calvin Klein North America and the Underwear Group at PVH, succeeds Steve Shiffman, who is leaving the company to pursue other interests.
In her new role, Abel-Hodges will report to Stefan Larsson, the recently appointed President. She has held various leadership positions since joining the organisation in 2006. As the group president of Calvin Klein North America, she helped set a strategic direction for the brand, driving a consumer-centric approach. Within the Underwear Group, she led the development of PVH’s innovative underwear platform, overseeing the design, merchandising, product development and planning for all of PVH’s underwear and women’s intimates businesses.
Last week, a Calvin Klein Inc subsidiary and G-III Apparel Group entered into a five-year licensing agreement for the design, production and distribution of Calvin Klein Jeans women’s jeans wear collections in the U.S. and Canada. In January, PVH also announced its decision to streamline the North America division besides consolidating its operations for the men’s Calvin Klein Sportswear and Calvin Klein Jeans businesses to strengthen the brand’s positioning.
VF Corp to collaborate with Redress for design competition
Global apparel, footwear and accessories retailer VF Corporation aims to collaborate with environmental charity Redress to deliver the Redress Design Award 2019 x VF Challenge in Hong Kong. The collaboration will provide 10 shortlisted emerging designers an opportunity to learn from one of the world’s foremost leaders in apparel and footwear.
The award is the world’s largest sustainable fashion design competition and aims to educate emerging fashion designers across the world about sustainable design techniques.
The collaboration is supported by financial contributions from VF and charitable grants from the VF Foundation, a private philanthropic foundation funded by VF Corporation.
Designers will present their collections on September 5, 2019 at the live Grand Final at Centrestage in Hong Kong.
Polygenta launches technology to convert PET bottles into Polyester
Polygenta Technology has launched a new technology to convert used PET bottles into polyester filament yarn. The company, which has a capacity to convert 30 tonne of PET bottles into yarn every day, plans to scale up capacity to around 100 tonne a day in the next two years.
The yarn produced by Polygenta is currently sent to Adidas’ manufacturing centres to be converted into sportswear. In future, it may also be used to upcycle clothes made from polyester yarn.
According to the United Nations, around 300 million tonne of plastic is produced every year — roughly the weight of the entire human population. Of this, eight million tonne of plastic waste ends up in the oceans; PET bottles are the main contributors to plastic waste globally and in India.
Bangladesh emerges as the top exporter of cotton trousers to US
Bangladesh has emerged as the top exporter of cotton trousers to the US market with US $ 886.52 million worth of shipment, while China slipped to the second place with US $ 869.51 million export value. In the corresponding period of the prior year, Bangladesh stood at US $ 783.71 million, whereas China stayed far ahead of Bangladesh and shipped trousers valued at US $ 941.11 million.
Bangladesh shipped 15.53 dozen of cotton trousers to USA, marking 7.73 per cent surge on Y-o-Y basis. The country significantly kept its unit prices (US $ 57.07 per dozen) lower than other Asian manufacturing destinations except Indonesia (in top 10 tally) whose unit prices were US $ 51.14 per dozen. Despite offering the lowest unit prices, Indonesia dwindled by 6.90 per cent to ship US $ 196.48 million as compared to US $ 211.04 million in the same period of last year.
India, in the review period, grew by 5.05 per cent in its cotton trousers export to USA and valued at US $ 134.12 million. Despite growth coming in, India stood at 8th rank which is not in sync with India’s reputation considering the country is traditionally rich in cotton. Countries like Pakistan and Cambodia are ahead of India with US $ 163.94 million (up 4.43 per cent) and US $ 144.12 million (up 4 per cent), respectively.












