A new report by ResearchAndMarkets.com estimates global sports apparel market to grow by 4.9 per cent to reach $247.4 billion by 2027. The report estimates discount stores will grow at a CAGR of 4.7 per cent to $ 81.2 billion by end of the analysis period. Brands’ segment is also likely to grow at 4.5 per cent CAGR over the next seven years. Growth in the global sports apparel market will be led by China which will grow at a 7.8 per cent CAGR to reach $51.9 billion by 2028. Other markets including Japan and Canada are expected to grow between 2.8 per cent to 3.9 per cent by the end of the analysis period. Germany, on the other hand, will grow by 3.5 per cent.

United States, Canada, Japan, China and Europe will lead growth in the worldwide Supermarkets and Hypermarkets segment at 4.8 per cent CAGR. These regional markets are anticipated to be worth $42.6 million by 2027. China will continue to be one of the fastest expanding markets in Asia Pacific. By 2027, the regional market is expected to reach $33,4 billion, led by countries like Australia, India, and South Korea, while Latin America is expected to grow by 5.5 percent over the analysis period.

Biggest private sector employer in Kerala, Kitex Garments has backed out of Rs 3,500 crore investment project in Kerala, alleging an incessant witch hunt by the government. The project included opening of an apparel park in Kochi and establish industry parks at Thiruvananthapuram, Kochi and Palakkad. Kitex has already acquired 30 acres of land for the apparel park at Kizhakkambalam in Kochi. The project report has also been completed and the project would have provided jobs for 20,000 people. The three industrial parks were envisaged to promote start-ups providing all infrastructural facilities. Each of these parks would have created 5,000 job opportunities.

Sabu M Jacob, Chairman and Managing Director, Kitex Group, said, he decided to scrap the project due to the continuous harassment by the government authorities. He alleged, 11 teams of officers from various departments raided the company during the past one month. Departments of labor, factories and boilers and even a team led by the district collector conducted a search on the premises.

Jacob said, other states provide free land, building, water, power and tax holiday for 10 years to investors. They also provide the PF and ESI share of the employees. Some states even offer Rs 5,000 salary for the employees for five years. The company doesn’t demand any benefits from the government. It only wants the government harassment to stop.

Yamuna Expressway Industrial Development Authority (YEIDA) has allotted 150 acre for development of Uttar Pradesh’s first apparel export cluster in Noida. The cluster will house factories by 152 companies to be set up with an estimated investment of Rs 8,365.73 crore. It will provide employment to about five lakh people. The first phase of the project will include construction of 91 textile and garment factories that are expected to be operational by January next year.

Through this cluster, the UP government plans to develop a global garment hub which can tap into the lucrative international textile supply chain, in which Bangladesh, Vietnam and Indonesia are currently major producers. The government plans to develop more such integrated textile parks in major textile producing areas of the state, such as Meerut, Agra, Jhansi, Gorakhpur, Varanasi, Lucknow and Kanpur divisions.

Around 66 major industrialists have submitted proposals to invest Rs 8715.16 crore in the textile and garment sector in UP in the last four years. Of these, 12 textile factories have already been set up, while construction of 18 others is in progress.

The country’s booming textile exports have given Pakistan government a reason to celebrate amid the COVID-19 gloom. As per a Daily Times report, Pakistan’s garment and apparel exports grew 9.06 per cent to $11.35 billion in Q1FY21 from 10.41 billion in the corresponding period last year. The country’s low export base helped boost yearly exports even though exports on a month-on-month basis declined by 1.3 per cent, reveal the Pakistan Bureau of Statistics.

Textile exports grow in 10MFY21

During the financial year up to April’12, Pakistan’s textile exports grew to $1.337 billion. Exports by both value added textiles and basic textiles group grew in triple digits during the month. During the first 10 months, Pakistan’s textile exports grew 17 per cent to reach $12.7 billion. Exports of basic textiles such as cotton yarn and fabric also grew along with value added textiles. Growth in value-added category was dominated by knitwear, bed wear and home textiles.

Cotton shortage to hike interest rates, restrict supplies

The third COVID-19 wave has destroyed many major economies of the world. China and India are seeing a major drop in textile exports. In such times, Pakistan’s booming exports are proving to be a major boost to global textile market. However, Pakistan is currently facing an acute shortage of cotton supply, compelling ECC to allow duty-free cotton imports till June 30, 2021. Cotton scarcity of is likely to hike interest rates in the country besides restricting supplies. To overcome these, Pakistan needs to announce a new textile strategy soon.

VF Corporation, a global leader in branded lifestyle apparel, footwear and accessories, has sold the occupational portion of its Work segment to a subsidiary of Redwood Capital Investments, LLC, a diversified holding company.

The occupational workwear portion of VF’s Work segment includes the following brands: Red Kap®, VF Solutions®, Bulwark®, Workrite®, Walls®, Terra®, Kodiak®, Work Authority® and Horace Small®. The sale does not include the Dickies® and Timberland PRO® brands.

Founded in 1899, VF Corporation is one of the world’s largest apparel, footwear and accessories companies connecting people to the lifestyles, activities and experiences they cherish most through a family of iconic outdoor, active and workwear brands including Vans®, The North Face®, Timberland® and Dickies®. The company aims to power movements of sustainable and active lifestyles for the betterment of people and planet.

Redwood is a long-term holding company headquartered in Baltimore, MD that acquires and builds businesses across a diverse set of industries. Redwood’s existing businesses operate in the distribution, dealership, equipment leasing and real estate industries. Redwood focuses on creating value through reinvesting in their businesses to drive growth and create opportunities for employee advancement while preserving company culture.

Kering Americas has launched a virtual mentorship program in collaboration with Candace Marie Stewart's Black in Corporate (BIC).

As per Fashion Network, the month-long training pairs Black professionals at different stages of their careers with a mentor at Kering Americas or one of its fashion houses. Departments includes Marketing/Advertising, Project Management/Operations, Human Resources, Financial Services, Media/Communication and Technology, and will give members access to resources, workshops, speaker events and more.

The partnership is the first of its kind for both BIC and Kering Americas, and highlights BIC’s commitment to engage with strategic partners that share values of diversity, equity, and inclusion, with a focus on creating systemic change.

Applications for the program are now open and will close on July 2.

Earlier this month, Kering entered into the rental market via an investment in London-based handbag rental specialist Cocoon. The foray will allow the luxury giant to monitor new consumption habits and digital practices.

Gas load-shedding and energy crisis are forcing Pakistan textile exporters to move their industries to other countries.

Pakistan’s textile exporters have formed a committee for due diligence to shift industries in wake of the crisis, says Jawed Bilwani, Chairman, Pakistan Apparel Forum.

The zero gas pressure since last 15 days has crippled industries and halted export production in Pakistan. Textile exporters having Regasified Liquefied Natural Gas (RLNG) connections and paying the amounts with great difficulty, to meet export orders at a rate of Rs 1,533 per mmbtu, are not provided gas.

The exporters questioned how industries would work without the basic raw material. They voiced concerns that there is no chance that the textile export industries will get the required gas smoothly with adequate pressure in future.

Faisal Moiz Khan, President, North Karachi Association of Trade and Industry has warned that depriving the industry of gas will hurt exports of the country. Bilwani also added that amid the continuous gas crisis in the country, especially in Karachi, and given contradictory moves by the government towards its business policies, textile exporters have constituted a committee for due diligence to shift textile export industries elsewhere, on the exporters demand, to correspond and negotiate with those countries which have much better business and export-friendly policies.

Agribusiness banking specialist Robobank forecasts recovering global demand and garment sales will drive Australia’s wool price benchmark up to the 1600c/kg clean mark in the next year. Dennis Voznesenski, Analyst says, demand indicators for wool are positive almost across the board. He believes, the rise in US retail apparel sales by 9.2 per cent in April has sparked recovery in wool prices.

Voznesenski says, while wool prices had not risen to seven-year highs like some other soft commodities, the Eastern Market Indicator (EMI) is 27pc higher than the beginning of the year and has recently cracked through the 1,400-cent mark for the first time in over a year. Prices of super-fine wool micron have exceeded those of coarser wool and also prices from early 2020 with 17 micron wools rising by 88 per cent since last year’s September low, he adds.

The prices of 20 micron wool have increased by 62 per cent over the same period. notes Voznesenski. The growth is fuelled by improving apparel sales in key end markets, particularly for knitwear and the close-to-skin sectors, together with the associated improvement in processor sentiment.

Americans are driving growth in secondhand fashion market by buying more resale goods. As per a GlobalData report, the secondhand fashion market in the US is expected to reach $77 billion in the next five years. Commissioned by online consignment startup ThredUp, the report surveyed 3,500 adults in the country.

The report found a record 33 million Americans bought secondhand for the first time in 2020. Over 76 per cent of these shoppers plan to increase their share of resale purchases in the next five years. The secondhand market is likely to grow 11 times faster than the clothing retail market during this period. Around 42 per cent retailers plan to adopt resale in the next five years making the market two times larger than fast fashion by 2030, predicts GlobalData. Around 58 per cent plan to offer financial incentives with resale. Forty-four per cent consumers believe, the government should play a role in promoting sustainable fashion.

As COVID-19 related restrictions began to ease, trade show Tranoi returned to the physical format with a live event at Palais de Tokyo in Paris. Held from June 25-27, 2021, the event featured 24 emerging designers. It was held in partnership with Federation de la Haute Couture de la Mode. The event was held in tandem with Sphere, French fashion’s governing body’s showroom for emerging designers, with the aim of creating synergies between the two events at the venue at the fashion week hub.

In September, Tranoï will once again collaborate with Sphere at the Palais de Tokyo for the main event featuring 50 young labels. The physical format is likely to make comeback this Fall with many events planned September onwards. WSN will organize next edition of Who’s Next and sister shows in September. Bijorhca jewelry event and Eurovet’s lingerie and swimwear shows will also be held during the month besides Tranoï’s next event. WSN’s Première Classe will be held from October 1 to 4 in the Tuileries alongiwth the Paris Fashion Week