Leading Italian circular knitting machine builder SantoniSpA has launched its new unique XT intarsia machine that combines all of the knitting possibilities of the intarsia technology and stitch transfer technology.

As per a Knitting industry report, the machine is equipped with an integral Toe Closing Device. Itis specifically designed to knit Argyle pattern intarsia socks that meet the increasingly high demands of the fashion market thanks to its excellent level of quality and pattern definition.

The XT machine TC produces exclusive socks that meet Generation 4.0 requirements for higher comfort combined with superior technical performance. These socks have compression areas with precisely positioned elastic yarns, sandwich terry for cushioning and protection effects and mesh areas for higher ventilation and moisture control.Each of these featured areas can have different yarns to better meet the desired customization requirements.

As per an Economic Times report, Puma and department store chain Iconic have started offering their online customers an upfront 5 per cent discount if they choose digital modes of payment. Liberty Shoes charges an extra Rs 49 for a customer who prefers to pay at the time of delivery at their doorstep.

These companies have started discouraging the cash-on-delivery(COD) option, which currently accounts for about 65 per cent of online purchases in India.

According to VibhorSahare, Cofounder, ANS Commerce, between 10 per cent and 30 per cent of COD order are returned by customers compared with 5 per cent-15 per cent for pre-paid orders.

Paytm Mall discontinued the COD purchasing option more than a year ago. After offering discounts on pre-paid purchases, Puma’s share of digital transactions on its webstore went up to 64 per cent from about 61% prior to that.

COD has been the most popular payment mode among Indian consumers and has helped spawn a formidable e-commerce business in India.

E-commerce sites including Amazon, Flipkart and 1mg had suspended the COD option for some months from April as part of efforts to create contactless shopping in a bid to curb the spread of COVID-19. However, the sheer popularity of COD prompted them to restore the payment method recently.

With consumers ready to splurge after almost 18 months of restrictions and high prices commanded for products, the European luxury sector is set for a boom. However, investors are concerned about declining valuations of luxury companies, says Martyn Hole, Equity Investment Director, Capital Group. The MSCI Europe Index for apparel and luxury goods rose 20 per cent this year. As per Business of Fashion, the index outperformed MSCI Europe’s previous gain of 12 per cent and given it a PE ratio 35 times estimated 2021 earnings.

The surge also increased the sector’s valuation premium relative to the broader market to a historic high of above 100 percent. Analysts at Barclays Plc affirm, luxury stocks are now placed in the very-expensive category and have little room for improvement in the second quarter. Italian luxury fashion retailer Golden Goose sold a €480 million ($588 million) six-year junk bond this month as investors betted on its ability to sell high-end sneakers for around €400.

Fiscal stimulus, consumer savings drive luxury growth

The European luxury sector is being driven by the stimulus checks in the US, the growing popularity of casual-wear and savings of around €700 billion owing to pandemic-induced lockdowns. As Michel Keusch, Portfolio Manager, Believue Asset Management AG explains, people are waiting to treat themselves and buy things that will make them look good. Yet, the sector may not benefit from the stimulus and reopening of economies as consumers will have a wide range of spending options, ranging from travel and restaurants to theatres and cinemas.

Pandemic to give rise to new growth engines

The over emphasis on mergers and acquisitions and skepticism over demand from China may also put a brake to luxury’s growth engine. Recently, M&A rumors sent German apparel maker Hugo Boss’s stock up 43 times its 2021 earnings while the stocks of troubled Italian shoemaker Tod’s SpA’s soared 66 per cent over speculations of being acquired by LVMH.

Over the next 12 months, the MSCI Europe Luxury Goods Index is unlikely to grow over 19 per cent on the MSCI Europe Retail Index, particularly online retailers like Zalando SE. Yet, newer growth engines, like China’s shopping hotspot of Hainan are likely to emerge, says Sanford C. Bernstein, Analyst, Luca Solca. Overall, the sector’s prospects appear very bright, adds Hole.

The third quarter revenues of PVH Corp, a US-based global apparel companies have declined by 18 per cent to $2.11 billion compared to the revenue of $2.43 billion in the same period last fiscal. The company’s net income for the quarter rose to $69.5 million compared to net loss of $1.07 billion in Q3 FY19.

Total gross profit during Q3 was $1.10 billion while selling, general and administrative expenses were $ 987.2 million.

Sales for Tommy Hilfiger decreased by 12 per cent to $1.08 billion; Calvin Klein sales dropped by 18 per cent to $790.0 million while Heritage Brands by slipped 36 per cent to $238.3 million during the three-month period.

The company aims to focus improving its e-commerce and product offerings, and driving cost efficiencies across the company.

The third quarter revenues of PVH Corp, a US-based global apparel companies have declined by 18 per cent to $2.11 billion compared to the revenue of $2.43 billion in the same period last fiscal. The company’s net income for the quarter rose to $69.5 million compared to net loss of $1.07 billion in Q3 FY19.

Total gross profit during Q3 was $1.10 billion while selling, general and administrative expenses were $ 987.2 million.

Sales for Tommy Hilfiger decreased by 12 per cent to $1.08 billion; Calvin Klein sales dropped by 18 per cent to $790.0 million while Heritage Brands by slipped 36 per cent to $238.3 million during the three-month period.

The company aims to focus improving its e-commerce and product offerings, and driving cost efficiencies across the company.

Cifra has introduced the patented Warp Knit Seamless technology to its beachwear. The technology plays on positive and negative spaces and patterns to enhance the figure with a variety of designs. Beachwear made using this technology is seamless, snug, quick-drying and is run-proof thus adding technology to fashion style.

The beachwear concept is an ode to sustainability and products knitted both in premium polyamide 6.6 and in pre and post-consumer recycled yarns such as Radici Group’s Renycle, a polyamide 6 obtained from production waste, or else Aquafil’sEconyl, made from plastics recovered from the oceans that had been recycled.

Both are combined with an elastomer which is also recycled, in the aim of a full sustainability. From the sea and in support of the sea, with a strong emphasis on design and responsible innovation.

The Textile Exchange Corporate Fiber and Materials Benchmark (CFMB) Program is launching the Biodiversity Benchmark, in partnership with The Biodiversity Consultancy and Conservation International and supported by Sappi. As per a Green Biz report, the Benchmark will enable companies to understand their impacts and dependencies on nature in their materials sourcing strategies, chart a pathway to delivering positive biodiversity outcomes, and benchmark their progress.

The benchmark aims to integrate biodiversity into existing materials and sourcing strategies, rather than approach biodiversity as a new or disconnected topic. The inclusion of biodiversity is part of Textile Exchange's Climate+ strategy, which focuses on urgent climate action and recognizes that soil health, water and biodiversity will play a key role in this transition.

The company has designed the Biodiversity Benchmark Companion Guide to catalyze companies to think about their fiber and material choices in relation to their dependencies, risks, opportunities and impacts through a biodiversity lens.

The upcoming Frankfurt Fashion Week will focus on applying the Sustainable Development Goals to the global textile and apparel industry, says a Textile Network report.

The main sponsors of the event will be Messe Frankfurt and the Premium Group. It will be held from July 05-09, 2021 in collaboration of Conscious Fashion Campaign (CFC) and United Nations Office for Partnerships (UNOP). It will position itself as the host of the future of fashion and actively driving forward the transformation towards a future-oriented, more sustainable fashion and textile industry.

The event will align all exhibitors, participants and partners with the Sustainable Development Goals by 2023. The goals will also be incorporated into all formats of Frankfurt Fashion Week. This will make the goals visible and tangible for audience, therefore bringing its claim, goals and specific proposals for implementation to an international opinion-forming fashion and lifestyle community.

According to the China customs, in Oct 2020, China's uncombed polyester staple fiber exports decreased by 9.4 per cent year-on-year and 3.9 per centa month-on-month to 74,300 tons.

As per CCF Group, the country’s exports have increased in July, August and September for three consecutive months, and in October, the exports also maintained above 70kt. Currently, the delivery of foreign orders is drawing to a close. In Hangzhou, export offers of siliconized HC re-PSF are at $920-930/mt recently, FOB. However, affected by volatile exchange rate, some previous orders that are concluded see deficits, especially in Guangdong market. Product inventory in plants is relatively low, so some plants control the foreign orders.

In addition, the medium-grade re-PSF from Southeast Asia is offered at 5,000yuan/mt, after-tax ex-works, and its quality is close to that from Jiangyin and Wujiang district. The color is little white, and strength is ordinary.　In Jiangsu, 3D siliconized HC virgin PSF from Southeast Asia is sold at 6,300yuan/mt, after-tax.

HS code 55032000 is synthetic staple fibers, of polyesters, not carded, including virgin PSF and recycled PSF.And the imports from Southeast Asia and African are mainly the recycled PSF.　The following are the changes in recent years.

As per Sportswear International, the 32nd edition of Milano Unica, the international textile trade show scheduled for February 2021, will take place only as a digital event. Its next physical edition is planned for July 2021.

The decision was recently taken by its board of directors in light of the present evolution and to support the value chain’s entrepreneurs internationally in this delicate moment and favor new business modes for those who have difficulties traveling.

After its launch during the 31st edition in September 2020, the new edition of e-Milano Unica Connect, the marketplace of apparel textile and accessories, will be online from January 2021 presenting the s/s 2022 collections.

Milano Unica is now busy building new digital opportunities to increase prospects for international business and relationships offered by the physical trade show. This important challenge will make the organizer meet each other more solid and structured, and welcome visitors to its next July edition presenting the F/W 2022-23 collections, added Massimo Mosiello, GeneralManager, Milano Unica.