IFAI has decided to transform IFAI Expo 2020, set for November 3-6, 2020, in Indianapolis, Ind, into an online only virtual event.

IFAI Virtual Expo will take place over several days in early November 2020 in a robust platform designed to provide many exciting opportunities for attendees, exhibitors and sponsors to discover, network and help grow their businesses.

Attendees will explore the knowledge-packed educational sessions from the comfort of their home or office. Textile professionals from anywhere in the world can discover new products, chat, network and meet with exhibitors, communicate with colleagues and learn from world-class educators and presenters.

Virtually, IFAI Expo will host numerous sessions both live and on-demand. Attendees will be able to view, hear and ask questions to speakers along with other attendees. Exhibitors and sponsors will have numerous opportunities to get their sales message in front of IFAI Expo’s qualified audience through virtual exhibit space, advertising within virtual event software, the digital show guide, sponsored sessions, networking lounges, etc.

Attendees will be able to visit with exhibitors by navigating to their virtual exhibit booth which will offer ways to present product information that is easy to access, connect with exhibit booth staff by chat, a live call or setting up an appointment, etc.

In its latest COVID-19 Tracker Study, GlobalData forecasts that COVID-19 will wipe $395.6 billion from global clothing and footwear sales in 2020, a 19.5 per cent decline on 2019. The segment's loss of sales is highly significant as it is equivalent to 29.1 per cent of the $1.36trillion of total sales lost by the overall retail industry in 2020.

Similarly, the forecast for Asia-Pacific (APAC) are $95.4billion lower than those prior to the pandemic, responsible for 16.3% of the overall retail sales lost in the region in 2020.

Meanwhile, GlobalData says the crisis has changed the purchasing attitudes of consumers. Most declare that trust is an important factor when purchasing products, with 60 per cent stating that trustworthiness, risk-free and familiarity are factors influencing their choices of products/services.

The study covered 5,500 respondents across Australia, Brazil, China, Germany, India, Italy, South Africa, Sweden, the UK, the US and the UAE.

KG Denim has reported total income of Rs.118.08 crore during the period ended March 31, 2020 as compared to Rs.142.24 crore during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.(6.44) crore for the period ended March 31, 2020 as against net profit / (loss) of Rs.1.34 crore for the period ended December 31, 2019.

The company has reported EPS of Rs.(2.51) for the period ended March 31, 2020 as compared to Rs.0.52 for the period ended December 31, 2019.

The company has reported total income of Rs.118.08 crore during the period ended March 31, 2020 as compared to Rs.179.70 crore during the period ended March 31, 2019.

The company has reported total income of Rs.512.28 crore during the 12 months period ended March 31, 2020 as compared to Rs.728.76 crore during the 12 months period ended March 31, 2019.

The company has posted net profit / (loss) of Rs.(16.41) crore for the 12 months period ended March 31, 2020 as against net profit / (loss) of Rs.8.53 crore for the 12 months period ended March 31, 2019.

The Lyst Index Q2 2020, a quarterly ranking of fashion’s hottest brands and products, demonstrates how some brands struggled to evolve with changing landscape, while others showed compassion, support and creativity under duress. The Index ranks Nike as the hottest brand in the world owing to its prior investments in building its digital business and having the right product for a consumer base cooped up at homes. The brand’s digital sales jumped 75 per cent to achieve its 2023 goal. Its sales were propelled by a 106 percent increase in demand for loungewear and activewear, as consumers sought comfortable clothes to wear at home, as well as attire for exercise and outdoor activities.

Off-White slipped from the top spot but continued to see strong interest in its face masks and the ’90s-inspired capsule eycollection it launched with retailer TSUM.

The third position was occupied by Gucci, who captured the attention of consumers and the fashion industry by its announcement of holding two seasonless collections every year.

Balenciaga, which pledged to make an annual donation to the NAACP, landed in fourth place, while Prada nabbed fifth place, capturing the attention of consumers with virtual reality shopping.

Saint Laurent, Versace, Burberry, Fendi and Bottega Veneta rounded out the top 10. Like Gucci, Saint Laurent announced its plan to abandon the traditional fashion calendar and begin to follow its own rhythm. Both Versace and Bottega Veneta stayed connected with consumers online through Instagram and YouTube campaigns, respectively. Meanwhile, special collaborations boosted Fendi’s and Burberry’s profiles during the quarter.

To be held on September 1 and 2, 2020 in Tokyo, Japan, the India Tex Trend Fair will be a phygital event as Indian apparel exports will be able to send 150 samples for display in a 6 sq. mt. booth at the venue. Organized by Japan India Industry Promotion Association (JIIPA), the fair will have booths without walls in compliance with COVID-19 requirements. Buyers will be able to visit each booth which will have an interpreter besides an IPAD/laptop setup.

Meetings between exhibitors and buyers will be conducted virtually. These will be prefixed and buyers will be verified to ensure the quality of business generated through this event. Buyers to the fair will include manufacturers, wholesalers, trading companies, importers, select and specialist shops, department stores, volume and online retailers, etc.

The second quarter full-price sales of retailer Next declined by a 28 percent. According to the company, this is better than expected result as it allows it to forecast full-year profit of about £195 million ($252 million).

The company’s warehouse capacity has been restored faster than planned and store sales have been more robust than anticipated. Its online sales too bounced as warehouse capacity picked up and dispatch capacity returned to normal levels. The company’s sales improved by 9 percent from the same period a year ago while like-for-like sales in its stores declined by 72 percent for the quarter to July 25, and by 32 percent since June 15.

The company recorded improved sales in children’s wear, home, nightwear and sportswear and casual categories while sales in formal categories declined.

Albstadt-based Mayer and Cie has supplied the University of Applied Sciences in Mönchengladbach with its MPU 1.6 model for its new Textile Mission Project. A group of researchers at the University have launched the project to develop environmentally compatible fleece fabrics. Manufactured in the conventional way, these fluffy fabrics release micro plastic that ends up in waters, oceans and soils and finally in the stomach of animals and humans. These fibers are so small that wastewater treatment plants may not be able to filter them out entirely and they may find their way into waterways and seas, or as sewage sludge onto fields. From there, it is possible the plastic works its way up the food chain.

The MPU 1.6 will help researchers to knit fabrics before carry out washing and filtration tests besides optimizing and developing textile surfaces that release smaller quantities of microplastics.

The MPU 1.6 knits plush, velour, terry and fleece fabrics. At present, conventional polyester spools are fitted on the machine. Two sets of material have been tested so far with more to follow.

The research does not aim to discourage the use of polyester although the team is looking into alternative fiber materials. It seeks a mass-market solution that includes polyester on price grounds alone.

For the first time in its history of over six decades, Italian fashion retailer reported a first-half operating loss. The company’s revenues in the first half of this year ended 30 June dipped by 29 per cent to touch €403 million. Its tail sales, through distribution channels, declined by 31 per cent to €300.5 million (31 per cent down) while wholesale revenue declined by 23 per cent to €102.8 million.

Regionwise, the retailer’s sales in Europe, Middle East and Africa (EMEA) slumped by 23 per cent to touch €181.7 million, while the same in Asia and other parts of the globe fell by 27 per cent to also reach €181.7 million.

Even in Italy, Moncler’s sales declined by 39 per cent to€41.9 million. Its earnings before interests and taxes, EBIT, slumped to touch €35.5 million, compared with an operating profit of €102.6 million during the same period in 2019.

The Directorate General of Foreign Trade (DGFT) has revealed that the Indian government has permitted the export of 4 crore surgical masks and 20 lakh medical goggles every month.

The government had earlier banned exports of 2/3 Ply surgical masks, medical goggles and face shields in the wake of the COVID-19 crisis. It has now permitted monthly export of 20 lakh medical goggles and 50 Lakh units of medical coveralls for COVID-19. All other items that are part of PPE kits remain prohibited. Export of masks and goggles has been moved from banned category to restricted one, under which an exporter has to seek permission or a license from DGFT.

Luxury brands are turning to China to push growth amid the global downturn during the COVID-19 pandemic. They have been facing a tough market outlook since the start of the Coronavirus crisis, as a result of closure of many stores and manufacturing sites. Statistics compiled by Bain & Company shows, the luxury goods market has contracted around 25 per cent in the first quarter of 2020. Kering, the parent group of Gucci, Alexander McQueen and Yves Saint Laurent, was able open Chinese stores much earlier than other stores across the globe.

The company reported a 6.4 per cent growth in sales in its Chinese market during the first half of 2020. According to the company's financial report, its business in the Chinese mainland was boosted by strengthened consumer spending power and an uptick in economic activities. One of Kering’s most notable brands Gucci saw sales in the Asia-Pacific region contract 24.6 per cent, However, its business in China is seeing robust growth since mid-April.

One of the world's largest luxury brands the LVMH Group also reported a strong recovery in the second quarter in China, despite impacts from the COVID-19 pandemic on its global revenue in the first half of 2020. The luxury group, whose revenues dropped by 27 per cent in the first half of 2020 compared to the same period last year, saw a strong rebound in China market.