For the fourth quarter Century Textiles had net sales of Rs 1008.54 crores during the period ended March 31, 2019, as compared to Rs 957.22 crores during the period ended December 31, 2018.

Net profit was Rs 227.62 crores as against Rs 134.27 crores for the period ended December 31, 2018. EPS was Rs 20.38 as compared to Rs 12.02 for the period ended December 31, 2018.

Net sales were Rs 1008.54 crores during the period ended March 31, 2019, as compared to Rs 993.32 crores during the period ended March 31, 2018. Net profit was Rs 227.62 crores as against Rs 108.69 crores for the period ended March 31, 2018. EPS was Rs 20.38 for the period ended March 31, 2019 as compared to Rs 9.74 for the period ended March 31, 2018.

Net sales were Rs 4040.20 crores during the 12-month period ended March 31, 2019, as compared to Rs 3992.62 crores during the 12-month period ended March 31, 2018. Net profit was Rs 668.67 crores as against Rs 371.66 crores for the 12-month period ended March 31, 2018. EPS was Rs 59.87 for the 12-month period ended March 31, 2019, as compared to Rs 33.28 for the 12-month period ended March 31, 2018.

Per unit price is the main criterion for 78 per cent of fashion brand buyers. Only 42 per cent brands consider working conditions at contractors’ factories into consideration in selecting manufacturers. This attitude is driven by consumer demands for cheap clothing that is currently in style and delivered quickly. Seeking the lowest possible prices, demanding ever-shorter production times, frequently changing orders and delaying payments on completed work are among fashion brands’ actions that undermine efforts to create safe working conditions and protect the rights of workers, says a study by Human Rights Watch.

The drive for ever-lower production costs and ever-increasing speed inevitably results in negative consequences that fall in the laps of employees. Brand approaches to sourcing and purchasing are not merely a threat to a factory’s financial bottom line. They incentivize suppliers to engage in abusive labor practices and in risky contracting with unauthorized suppliers as a way of cutting costs.

Manufacturers scramble to meet deadlines, often at the cost of employees’ rights and working conditions. Detailed, written manufacturing contracts are not an industry norm. Where they do exist, they are often one-sided; many brands assume no written responsibility for delays or other mistakes made by them. In some cases, unscrupulous brands unfairly charge discounts and penalties to suppliers as a way of cutting their own costs.

Chinese sportswear brands like Xtep and Anta have the chance to beat western giants such as Adidas and Nike. Anta has bought Finland-based conglomerate Amer Sports, which owns Wilson tennis racquets and other sports brands such as Arc’teryx. Anta plans to grow these brands in the Chinese market. Xtep has partnered with conglomerate Wolverine Worldwide to sell outdoor footwear brand Merrell and the running shoe brand Saucony in mainland China. The company will open 400 to 500 stores for each brand within the next five years.

By working with Amer Sports and Wolverine Worldwide, both Xtep and Anta are purchasing or partnering with premium international brands instead of building their own from scratch and targeting brands in niche categories where incumbents Nike and Adidas are not as strong.

This strategy makes sense. Competing with Nike and Adidas head-on in the general sportswear market is bound to be difficult. They have massive marketing budgets and years of global branding experience, so they dominate the premium end of the casual sportswear market.

China’s sportswear market grew by 12 per cent in 2017, making it the second largest sportswear market after the US. Chinese consumers are becoming more sophisticated and the market is fragmenting into different groups of customers.

Adidas net profit increased 17 per cent in the first quarter. First quarter sales rose by a currency-adjusted four per cent. Operating margin rose 1.4 percentage points to 14.9 per cent. Profitability was helped by lower sourcing and marketing costs, favorable currency developments as well as selling more higher priced products and the expansion of online, with e-commerce sales up 40 per cent in the quarter. While sales in Europe fell three per cent in the quarter, they grew 16 per cent in China.

However, Adidas expects supply chain issues to curb sales growth in the first half of the year, particularly in North America, where it has doubled its business in the last three years. It expects sales growth of just three per cent or four per cent in the first half of the year, speeding up in the second half as it ramps up supplies by reallocating factory capacity and prioritizing the US market.

Adidas has benefited from the continued success of athleisure, which has remained a major force shaping clothing today. It’s technically a sports brand and not a fashion brand. But that hardly matters when sports and style have become inseparable and street wear is blending with high fashion.

"Once touted as the ‘knitwear capital of India, Tirupur, is currently mired by labor issues. Underemployment and rising costs of living, coupled with the continuing impact of policy measures such as the Goods and Services Tax, especially on small-scale manufacturers, is stagnating growth in the city with the shortage of workers leaving medium and larger garment manufacturers dependent on migrant labourers."

Once touted as the ‘knitwear capital of India, Tirupur, is currently mired by labor issues. Underemployment and rising costs of living, coupled with the continuing impact of policy measures such as the Goods and Services Tax, especially on small-scale manufacturers, is stagnating growth in the city with the shortage of workers leaving medium and larger garment manufacturers dependent on migrant labourers.

Contrary views impact development

Stakeholders rue the fact that there isn’t enough work in the once vibrant textile industry of the city. With declining demand, Kavya Garments owner Dhandapani recently sacked nearly half his tailors. However, a few tailors knock on his doors almost every day looking for work, a sight that is common at job work units across the city.

However, garment units in the city hold a contrary view. As TR Vijaya Kumar, Managing Director, CBC, notes, there is an acute shortage of workers in the city for jobs like stitching, cutting, checking quality and ironing. This leaves medium and larger garment manufacturers dependent on people migrating from other states in search of better opportunities. Tirupur can currently accommodate two lakh labourers who can be trained however lack of awareness prevents this form happening.

Kumar claims that every export house in Tirupur is facing around 30 per cent shortfall in labor. This shortage is among the reasons that several garment companies in the region have shifted their units from Tirupur to other cities, states and even countries, according to him.

Refuting this allegation, members of Tirupur’s blue-collar workforce, especially those in job work units, argue that fluctuating raw material prices and increasing competition from migrant laborers, finding stable work has become difficult for them. The local workforce also blames migrant workers, who charge less than the locals, for the loss for their jobs. who agree to work for less money.

Other issues impacting hiring

As a labour contractor states, the current labor shortage is also a result of companies not willing to increase salaries commensurate with worker’s demands after the implementation of GST in 2017. Before GST, the companies would pay them a salary of around Rs 300 per shift. Tailors would get around Rs 350 per shift. But now, with companies facing GST and other problems due to bank procedures, they are not able to give this kind of salary anymore. This has affected around 25,000 small-scale companies.

Some export houses hold demonetisation responsible jobs losses in the city. They say, GST has made employment difficult as the duty drawback scheme has been eliminated, increasing the costs of the manufactures. Companies expect the new government to perform better by granting them some sops and incentives that would enable them to hire new people.

And as DK Pant, Chief Economist, India Ratings points out even if some companies increase their access to the domestic market, their profit margins would be impacted, resulting in further slower hiring. Moreover, factors like Tirupur’s own economic development coupled with an increase in rental, food and transport costs, would result in demand for higher wages, further impacting employment. The unavailability of good quality labor gives rise to a struggle between manufacturers and laborers which each holding the other responsible for the current plight in the industry.

With weather becoming warm, it's time to bring out dresses again. A midi is a great choice for spring and summer as it is more airy and provides extra mobility.  Its free flowing fabric exudes comfort and is perfect for transitional seasons. 

Polka dots

According to All Women’s Talk, polka dots add a different dynamic to the outfit. It shows boldness, which is perfect for the current season. The white socks and shoes in the above picture as well as the clear handbag make sure that the polka dot pattern is the focal point, keeping the other elements low-key. 

High-waist Easter dress

An Easter midi dress is perfect for a girly look. It accentuates your curves. Its high waist and flared sleeves also add some edge to the outfit. Easter dresses are the ideal fashion choice for a leisurely stroll on a sunny day.

Vertical print

Vertical prints doesn't just add personality to an outfit, they also make you appear taller. Another key element that makes this outfit more appealing is a pair of suede sock-boots. The contrasting textures also adds another layer of sophistication.

Pastel colours

This lovely combination makes good use of color blocking as two striking colors are paired to create a startling effect. This vast collection of midi dresses provides ideas on how to pull off colour blocking. Mixing and matching bright hues such as yellow/blue and orange/purple will go well with the vibrancy of the summer months.

Bright and layered pieces

This outfit is a great example of layering and choosing the right material. The mustard yellow tunic gives a touch of the exotic to the outfit. The tassel earrings are also a nice addition as they compliment the tunic’s tassel lace. Art and Object highlights how tassels have a deep spiritual meaning, as they are linked to enlightenment and power. But more than that, they create a unique style. The orange-yellow mix is also perfect for the spring/summer vibe. 

Prints and street

This midi dress has unique prints and a well-designed slit. It divides the block of prints and makes them more eye-pleasing. The white sneakers add a casual touch to the entire look.

The athleisure boom in the US now encompasses sneakers and tops and even fashion brands. For years, many people associated the term athleisure with Lululemon and yoga pants, and believed the entire trend would be short-lived. Neither is the case anymore. Americans are obsessed with wearing athletic gear as all-day fashion. People are buying athletically-inspired products with no intention of actually doing sports in them. This is a fundamental shift for the industry, and it’s allowing brands that do not have a sports heritage to come in and take some share.

The trend of wearing athletic sneakers all day means that buyers no longer look only to sports brands when they want to buy sneakers. Madden, Sperry, Ecco, and Gucci, for instance, are all growing rapidly in the athletic shoe space. For the first 40 or 50 years of the modern sneaker marketplace, at least one performance category was in fashion. In the ’70s it was tennis. The ’80s was the basketball decade. But for nearly four years now, no performance sneaker category (shoes made to be worn for playing sports) has seen positive growth in America. That’s unprecedented. Performance basketball sneakers, in particular, have got crushed by athleisure. That category was down 20 per cent in the first quarter of 2019.

PVH Corp has entered into a licensing agreement with Nike for the design, sourcing, marketing and worldwide distribution of Nike-branded men’s underwear. This is an opportunity for the two companies to build on each other’s strengths, making it a win-win for everyone, especially consumers.

Nike men’s underwear will join PVH Corp’s The Underwear Group, a portfolio of brands that already includes Calvin Klein, Tommy Hilfiger, Olga, Warner’s and True & Co. In addition PVH owns the Van Heusen, Speedo and Izod brands. Nike branded men’s underwear will be produced by PVH’s Center of Excellence for Underwear, an innovative platform meant to drive efficiencies across the company’s supply chain by sharing best practices and leveraging core competencies in key product areas. PVH shares complementary commitments to quality standards and corporate responsibility with Nike.

For the fourth quarter PVH Corp’s revenues dipped one per cent. Earnings before interest and taxes for the quarter increased to $134 million from $58 million in the prior year period. PVH Corp earned nearly $9.7 billion in revenue in 2018. Nike’s revenues for the third quarter were up 12 per cent, driven by growth across wholesale and Nike Direct categories, including sportswear and Jordan, and continued double-digit growth across footwear and apparel.

Organic cotton denim brand Nudie Jeans has a program that repairs unwanted jeans and sells them through Nudie’s website and repair shops around the world. Nudie, based in Sweden, incentivizes customers to bring in their used jeans in exchange for a 20 per cent discount on a new pair of jeans. The garments are then repaired by hand in Nudie’s repair shop and washed and ready to wear. Each re-used jean is labeled with the Swedish Good Environmental Choice eco mark. The new collection offers many of the brand’s best-selling fits, including the Steady Eddie, Grim Tim and Lean Dean.

The program, which is in its third year, underscores the brand’s mission to encourage consumers to care for and repair the jeans they own. Each pair of Nudie Jeans comes with a lifetime of free repairs. In 2018, Nudie repaired 55,173 pairs of jeans and collected more than 10,000 pairs of jeans for the re-use program.

The brand has begun to use fabric from old Nudie jeans to make new products like bucket hats. The company also began to sell its old stock through an online agency that resells dead stock, allowing other denim brands and designers to repurpose the fabric.

New York Denim Days will be held from June 8 to 9, 2019. This festival puts consumers, brands and the denim supply chain under one roof. It will feature a diverse mix of activations, brands and collaborations, including a children’s runway show. Spearheaded by true denim insiders, the event connects denim professionals, designers and brands to denim consumers. It acts as a spotlight on the global denim scene.

For the second year, Lenzing is the event’s title sponsor. Last year, the fiber company created a Tencel forest in the entry to showcase how its Tencel fibers are derived from sustainably harvested trees. This year there will be an interactive display. Together with its brand partners 3×1, Athleta, Garbage by Marta Goldschmied and Triarchy, Lenzing will build the World of Tencel Denim with styles to suit every consumer lifestyle.

With its mix of denim-heads, the best brands and retailers and the most forward fashion, New York is the perfect home for Denim Days. Denim lovers from across the spectrum - fashionistas searching for the perfect pair of jeans, fade junkies looking to compare notes on raw denim, purists on the hunt for handmade indigo items, and designers shopping for Americana inspiration - will find the largest selection of indigo available at one event.