Helped by the popularity of online and wholesale business, British fashion brand Superdry returned to growth in its fourth quarter. As per Business of Fashion, the brand’s revenues in the fourth quarter increased 0.8 per cent to £118.3 million, with a 26.6 per cent rise in online and a 13.5 per cent rise in wholesale offsetting a 51.5 percent drop in store sales.

Known for sweatshirts, hoodies and jackets, Superdry has been hammered by the pandemic. The brand registered a 21 per cent decline in sales last year due to COVID-19 disruptions. The company recorded an underlying pretax loss of £10.6 million ($14.4 million) in the six months to October 24, and it suffered a further blow when stores were forced to close during the Christmas period.

Superdry is a contemporary brand which focuses on high-quality products that fuse vintage Americana and Japanese-inspired graphics with a British style. The brand has a significant and growing presence around the world, operating through 768 Superdry branded locations in 65 countries. There are 245 own stores across the UK and mainland Europe, 497 franchised and licensed stores and 26 concessions. Superdry sells to over 100 countries worldwide, operating from 21 international websites.

Scheduled to debut as physical events, Seek, Premium and Fashiontech have been cancelled by Premium Exhibitions. As per Spin Off reports, these events were scheduled to from July 6 to 8 in Frankfurt/Main, Germany. Cancellations are a result of current situation in Europe including lack of permissions, adjustments to official measures at short notice, travel restrictions, potential quarantine obligations and short-term work in many companies. These events will now be held in the Main metropolis from January 19-21, 2022.

In July, Frankfurt Fashion Week (FFW) will be held in a digital format. The event will open with Frankfurt Fashion Week Studio encompassing the whole FFW ecosystem. The key themes will be fashion business, sustainability and digitization and it will bring together German fashion trade shows, conferences and events under one roof, first as a digital venue, then as a hybrid one.

Asahi Kasei’s new S/S 2022 high-tech fabric collection, Ecosensor™ provides a diversified range of technologies from circular knits to woven fabrics in different textures and finishing. The collection has been made from premium materials including Bemberg™, the high-tech yarn made from cotton linters through a full circular, transparent and entirely traceable process. Another of its materials includes Roica™ EF, the premium certifies sustainable recycled stretch yarn made from pre-consumer recycled content.

The innovative collection covers different applications; sportswear, urban wear, underwear and athleisure. The innerwear range is made from recycled polymides and polyesters combined with Roica™ EF sustainable stretch yarn. The Sportswear range is made with double-layer knits with 3D geometric pattern, where ingredients are recycled and GRS (Global Recycled Standard) certified. The third outerwear category has been designed to offer a more classic and casual choice. Some of its garments are made from 100 per cent Bemberg fabrics.

The collection will be available on CLASS Smart Shop the inspirational materials’ bank and samples' e-shop, that includes a premium selection of the CLASS Material Hub’s materials, for students, designers and brands willing to explore and test sustainable fabrics from one little sample up to 50 meters.

Iconic apparel brand Fruit of the Loom and fashion retailer Zara have launched their joint capsule collection. The collection is available in US stores and all Zara stores across the globe and on Zara.com. The collection is inspired by Fruit of the Loom's heritage and leverages its most recognized vintage logo. It corporates its classic styles in its new women's collection featuring bright-colored, quality T-shirts, sweatshirts with matching shorts and pants, and undergarments.

Featuring a round neck sweatshirt with long sleeves and a ribbed trim, high-waist pants with an adjustable drawstring elastic waistband, a round neck tank top with a patch at the front hem, a V-neck crop top with straps and matching elastic hem, and others, the full capsule collection ranges from $19.90 to $39.90. It offers a variety of comfortable and stylish selections.

An American company, Fruit of the Loom manufactures clothing, particularly casual wear and underwear. The company's world headquarters is in Bowling Green, Kentucky. Since 2002 it has been a subsidiary of Berkshire Hathaway.

The US Cotton Trust Protocol aims to trace and track cotton fiber on its blockchain platform in partnership with TextileGenesis. This will encourage sustainable practices across the cotton supply chain and enhance its transparency with consumers and retailers.

Launched in 2020, the Trust Protocol has over 300 brands, retailers, mills and manufacturers in its member network, including Gap and Next. Transparency and traceability practices are growing in demand across almost all industries. The Cotton Trust Protocol addresses these challenges by collecting data related to sustainability in cotton production and setting verifiable and measurable goals.

The program aims to reassure brands that the cotton has been sustainably grown and has low environmental and social impact. It works on providing transparency across the supply chain through its Protocol Credit Management System (PCMS), which will be enabled by TextileGenesis platform to record and verify every movement of U.S. cotton fiber. Incorporating the TextileGenesis blockchain solution will capture article-level transactions between the participants in the supply chain.

The Trust Protocol brand and its associate retail members will also be able to claim Protocol Credits on completion of cotton products. These are digital tokens representing the environmental metrics and sustainable practices adopted in the creation of the item. Pilot trials for the program will begin in June of this year and it will be fully launched by the beginning of 2022.

Cameroon’s cotton development corporation Sodecoton plans to increase Central African country Cameroon’s annual cotton production to 600,000 tonne by 2025. To reach this ambitious target, Sodecoton plans to develop high-yielding seed varieties, instead of the earlier planned introduction of genetically modified (GM) crops.

Sodecon expects Cameroon’s cotton production in 2020-21 season to rise to 350,000 tonne. As per China Textile, Cameroon cotton production in the previous season was 328,000 tonne, most of which was exported.

Cameroon exports its cotton to Asian countries, with China being the main destination. The other Asian countries that import Cameroon cotton include Bangladesh, Vietnam and Indonesia.

In 2019, Cameroon exported 18.4 per cent of its cotton to China, followed by 12.2 per cent to Italy, and 11 percent to India. As a part of 2020-30 National Development Strategy the Cameroon government merged Sodecoton and Cotonnière Industrielle du Cameroun (Cicam) last year to boost the country’s cotton textiles industry. Prior to merger, Sodecoton organized the production and marketing of cotton in Cameroon.

British fashion retailer Next raised its full-year profit forecast for the second time in two months as it reported better than expected trading in the first-quarter. As per reports, the group had predicted a 10 per cent decline in its first quarter sales as against the same period in fiscal 2019-20. However, the retailer has beaten this forecast by £75 million. Full price sales in three weeks to May 1 increased 19 per cent.

Yet, the retailer has not raised its forecast for the rest of the year as the spike in demand witnessed after each of its previous lockdowns petered away after a few weeks, says Simon Wolfson, CEO.

However, the retailer has raised its forecast for 2021-22 pretax profit to £720 million from the £700 million forecast in April. Post easing of lockdowns, Nike has seen a significant recovery in sales of adult clothing, particularly women’s casualwear. But its sales of warm weather holiday wear, such as swimwear, remained at much lower levels than two years ago.

Till a decade ago, the luxury market was dominated by baby boomers and Gen X. Today, majority of luxury consumers are barely over 40 years. Having a completely different set of values, millenials are setting new standards in luxury retail. Lowering of age group has led to the inclusion of new styles in luxury, as reports Edited. Streetwear has become an important segment of the luxury market with demand for hoodies rising almost 70 per cent since 2019 and women’s sneakers growing 35 per cent.

However, price rise is mostly driven by traditional categories including handbags. Since 2019, prices of luxury handbags have grown to almost $2,500. However, the market also offers more affordable handbags by Coach’s Pillow Tabby of Telfar’s Medium Shopping which are priced at $500 or lower

Pandemic accelerates luxury’s online shift

The pandemic has accelerated luxury brands’ shift to online platforms. Luxury brands like Cartier, Louis Vuitton, Tom Ford, Dior and Fendi have launched online operation across the US and UK. This has also paved the way for more accessible luxury. Luxury is no longer limited to exclusive or vintage products. The category now also includes streetwear items like T-shirts, hoodies and sneakers priced at $500 or lower.

However, the bulk of luxury goods are priced between $500-$1,000. The market is shifting away from lower end price structure with retailers refusing to operate in the $1,500-$2,000 range. Brands like Gucci and Louis Vuitton have revised prices of their handbags. These are now available online at $2,000-$2,500 as against $1,500-$2,000 in the pre-pandemic period.

Vaccine rollout and reopening of economy has encouraged more consumers to return to the luxury market, opines McKinsey & Co. It expects luxury retail to grow between 1 to 4 per cent in 2021. However, the rising price of luxury goods hasn’t deterred affordable players. They are launching luxury bags priced at $500 or lower. Coach Pillow Tabby has launched a Y2K-inspired, Gen Z approved shoulder bag which has racked up 47,000 views since mid-March in a video. Telfar has also launched a vegan gender-neutral shopping bag that was awarded ‘Fashion Design of 2020 Award’ by London Design Museum.

Growing attraction for resale platforms

With stigma vanishing, second-hand or pre-loved has become more aspirational amongst luxury consumers. With more consumers prioritizing sustainability, they are increasingly attracted to resale platforms like Depop, The RealReal and Vestiaire Collective. This shift within the luxury market is likely to persist with retailers’ growing emphasis on circular economy.

Luxury brands are also focusing on DTC strategies to achieve higher margins and control prices. For instance, Prada has tightened its distribution channels leading to a contraction of stocks of Farfetch, Net-a-Porter, Mr Porter and Selfridges. By 2026, millennials and Gen Z will collectively account for about 60 per cent of global luxury sales, opines Boston Consulting Group. Retailers need to concentrate on this group that has an impressive spending power of over $75 billion. They need to upgrade their digital and social technologies to ensure transparent shopping experiences for millennial consumers.

From 2009-19, global textile and apparel trade grew at 3 per cent CAGR to reach $818 billion in 2019. Majority share is likely to be claimed by the apparel segment which is likely to grow to $470 billion, says a Textile Value Chain report. This will be followed by fabric and yarn as the second and third largest traded categories.

Synthetic fibers to drive future MMF demand

Global consumption of fibers has been growing since the last decade. In 2019, consumption reached 108 million metric tons with majority being driven by synthetic fibers. It is likely to further grow by 4 per cent between 2019-23, says a 2020 Lenzing Report. The Fibers Global Supply Demand report 2018 published by Wood Mackenzie predicts majority of consumption will be centered around polyester with 56 per cent consumption followed by cotton 26 per cent. Man-made fibers will continue to attract consumers across the globe.

Over the next few years, manmade fibers are likely to become the fibers of choice for consumers. Their demand will be driven by cost competitiveness, changing perceptions and increasing acceptability. These fibers also offer unlimited recycling opportunities while their versatility makes them useful in end-use categories such as sportswear, leisurewear, women dresses, home textile, automotive, carpets and other industrial sectors

One of the world’s largest RMG producers, Bangladesh has a huge potential in the MMF segment. The country currently has only 27 mills producing man-made fibers. Production of polyester stable fiber is only half of its capacity, as per the Wood Mackenzie Chemicals Report 2018 and TTS analysis. To explore MMF potential further, the country needs to utilize and strengthen its existing resources.

In 2019, Bangladesh held approximately 5 per cent share in global MMF apparel trade whereas it share in the global cotton garments trade was close to 15 per cent. However, its share has consistently been increasing over the last few years with Bangladesh currently having 11 per cent share in global sweater market.

More investments and duty relaxations

To increase its MMF market share, Bangladesh needs to set up more factories production MMF textiles and apparels. It also needs to invest in the backward linkage of the man-made textile value chain, to capture 80 per cent of the demand. Currently, China, Viet Nam, Indonesia, South Korea, Thailand etc, are the world’s leading man-made fiber exporters. On, the other hand, Bangladesh’s exports have stagnated at 20 per cent, says a study by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

To accelerate MMF production, Bangladesh needs to ease its FDI rules. The government should also permit raw material imports under a duty-free facility, opines Chairman, BTMA. The current COVID situation and growing apparel sourcing diversification offers Bangladesh an opportunity to enhance its textile value chain with MMF investments.

Sportking India’s March quarter profit jumped by 3,475 per cent to Rs 44.33 crore from Rs 1.24 crore posted for the year-ago period. Sales grew 27.51 per cent to Rs 413.37 crore from Rs 324.19 crore during the year-ago quarter.

For the financial year 2020-21, net profit surged 583.9 per cent to Rs 84.53 crore from Rs 12.36 crore in the previous financial year. Sales declined 3.60 per cent to Rs 1306.24 crore from Rs 1,355.05 crore in the financial year ended on March 31, 2020.

Established in 1977, Sportking India manufactures and retails textile products such as knitted fabrics and garments including T-shirts, shirts, sweaters, jackets, jeans, leggings, shorts and nightwear besides yarns.

According to the company website, Sportking India is associated with renowned brands such as S. Oliver, Sailor, Jockey, Interloop, IKEA, H&M, Marks & Spencer and Zara; owns manufacturing facilities in Punjab and Himachal Pradesh and has over 100 retail garment stores across states.

While the company mainly serves Indian customers, it also exports products to over 30 countries including Morocco, Egypt, Kenya, Brazil, Portugal, USA, Czech Republic, Cana, Spain, Poland, South Africa, Vietnam, Singapore, Japan and Dubai.