Spinnova, a pioneer in sustainable textile fiber production, has enlisted Jari Vähäpesola, a seasoned board professional with over 36 years at Valmet, as an adviser to the Board, effective December 2023. 

Vähäpesola, formerly Business Line President, Paper at Valmet, brings strategic acumen and technological insight to guide Spinnova's commercial scaling phase. 

Janne Poranen, Chair of the Board, expresses enthusiasm about Vähäpesola's addition, emphasizing the alignment of his competences with Spinnova's goals. 

Vähäpesola reciprocates the sentiment, stating his excitement to contribute to Spinnova's sustainable technology endeavors in textile fiber production.

The appointment signifies Spinnova's commitment to advancing eco-friendly solutions and marks a strategic move in navigating the dynamic landscape of sustainable textile innovation.

In a strategic move, Precot, a leading producer of cotton products and yarns, has joined the International Textile Manufacturers Federation (ITMF). 

Christian Schindler, Director General of ITMF, highlighted the significance of Precot's membership, emphasizing its contribution to strengthening India's representation within the federation. 

This development comes amidst the backdrop of a robust domestic market and increased global interest in Indian companies.

Ashwin Chandran, Chairman & Managing Director of Precot, underscored the unique value of ITMF, providing a comprehensive platform that covers the entire textile value chain. 

Chandran expressed optimism about the direct access to industry-specific information, international networking opportunities, and ITMF's representation in global forums. 

The move signifies Precot's commitment to understanding and navigating the dynamics of the global textile industry, ensuring more informed decision-making in the ever-evolving market.

British sportswear and apparel retailer, Frasers has expanded its luxury portfolio with the purchase of online brand Matches for $66 million from Apax Partners. 

With its business spread across 150 countries outside UK, Matches offers products from over 450 designers and generates the majority of its revenue internationally, with the business delivering to 150 countries outside the UK.

The deal will help Frasers make its business more upmarket. 

Through this deal, Frasers also aims to step up investments in flagship stores and online operations. Besides, it plans to strengthen ties with brands such as Nike, Adidas, The North Face and On Running. 

Earlier this month, Frasers reported a 12.6 per cent rise in H1 profit despite softening of the global luxury market.

Fashion brand Gap was awarded with the title of ‘Overall Most Vegan-Friendly Company’ for its use of vegan leather, faux cashmere and down-free jackets at the debut edition of PETA Fashion Awards. 

PETA also awarded VF Corporation with the ‘Leader in Fashion’ award while Abercrombie & Fitch received the ‘Best Men’s Fashion’ award for its consistent use of animal-free leather, suede and shearing. 

Balenciaga and Gozen were awarded with the ‘Most innovative Partnership’ award, celebrating the duo’s launch of of Lunaform at Paris Fashion Week 2023. 

The award for the ‘Hottest Vegan Leather Product’ was bagged by Versace for its Croc-Lacquered Cloquet Jacket, made from recycled polyester. On the other hand, Stella McCartney was awarded with the ‘Best Vegan Heel’ award for a knee-high stiletto boot made with vegan leather and a bio-based material from grape waste.

In a resounding call to action, Texcon '23, organized by the Confederation of Indian Industry, declared a pivotal moment for India's textile sector with the theme "Making India a Global Textile Manufacturing Hub: A Paradigm Shift." The event held at The Ashok in New Delhi underscored the imperative for industry-wide collaboration, government support, factory scaling, and innovation to overcome challenges.

Sustainability as a catalyst for progress

Recognizing the need for a transformative approach, industry experts proposed leveraging sustainability to propel growth. Initiatives like Kasturi Cotton, unveiled at the International Cotton Advisory Committee meeting, showcase India's commitment to traceability. Endorsed by actor Pankaj Tripathi, Kasturi Cotton incorporates blockchain technology for complete traceability, symbolizing a significant step towards transparency.

India's ambitious targets for 2030

Texcon discussions revolved around achieving India's ambitious textile sales target of $250 billion by 2030, with $100 billion earmarked for exports. Stakeholders emphasized an "India-first" strategy, urging collaborative efforts to capitalize on the immense potential of the manufacturing sector.

Addressing industry gaps and challenges

Despite a dip in textile and apparel exports in the first seven months of the financial year, October 2023 showed positive signs. Industry leaders, including Sivaramakrishnan Ganapathi and Kulin Lalbhai, highlighted the need for focused attention on man-made fibers and addressing existing gaps in the value chain.

Hope amidst challenges

Amid challenges, industry insiders expressed optimism about the China-plus-one strategy, anticipating a spillover of global brands and buyers seeking alternative production hubs. Comparisons with manufacturing destinations in Asia, coupled with India's strengths, including geopolitical stability and a robust raw material base, fueled confidence in the industry's potential.

Strategic targets and initiatives

At a separate event organized by the Apparel Export Promotion Council (AEPC), industry leaders rallied behind a $40 billion target for apparel exports by 2030, emphasizing the significance of the PM Mitra Park initiative. With engagements like ICAC, Texcon, and AEPC setting the stage, the industry looks ahead to continued collaboration and dialogue.

Bharat Tex 2024: The next frontier

The momentum continues with Bharat Tex 2024, slated to be the "world's largest textile exposition" in New Delhi from Feb. 26-29. With over 10,000 exhibitors across diverse segments, the event signals a proactive stance towards shaping the future of India's textile industry. As the sector navigates challenges, Texcon '23's resounding message echoes: It's "Now or Never" for the Indian textile renaissance.

Texbrasil, the Brazilian Textile and Fashion Industry Internationalization Program, is set to kick off its 2024 agenda with a strong presence at Première Vision New York on January 17 and 18. 

In collaboration with the Brazilian Textile and Apparel Industry Association (Abit) and the Brazilian Trade and Investment Promotion Agency (ApexBrasil), Texbrasil supports brands such as Oficina Caramelo, Savyon, and Stampa Studio.

These brands will showcase collections infused with Brazilian culture, innovation, and sustainability, aligning with the upcoming spring-summer 2024 fashion trends. 

Lilian Kaddissi, Executive Superintendent of Projects at Abit, emphasized the significance of Texbrasil's support at events like Première Vision, providing a vital platform for Brazilian brands to enhance their global market presence.

Première Vision New York, held biannually, is a pivotal global event for the textile industry, focusing on fabrics, yarns, fibers, textile design, and accessories. The upcoming edition in January 2024 will spotlight societal challenges, including environmental, social, scientific, and technological aspects. 

The organizers aim to encourage a renewal of habits, operational models, and creative and industrial processes, reinforcing the fair's reputation as a trendsetter in the textile segment.

After earning revenues worth €2.688 billion in 2022, Spanish fast fashion brand Mango aims to earn over €3 billion revenues by 2023-end. The brand also aims to register a double digits growth across all its retail channels this year. 

In 2024, Mango also aims to introduce a roadmap for the brand till 2026. Focusing on reinforcing its unique value proposition and boosting sales, the brand plans to expand its store network by 500 in key markets such as United States, Spain, France, Italy, the United Kingdom, India, and Canada.

In 2023, Mango opened 130 stores and refurbished another 80. The brand currently operates 2,700 points of sale across 115 markets. It also expanded its digital distribution to 20 new countries, operating in 110 markets through this channel.

In 2023, the brand also launched a capsule collection of exclusive garments for events and ceremonies. Besides, it launched its first denim collection to make garments more easily reusable and recyclable. 

Global market for compression wear and shapewear is anticipated to grow a CAGR of 6.2 per cent to reach $10.2 billion by 2032. As per a report by the Brainy Insights, the market’s growth will be driven by rising health consciousness amongst the population and the entry of major local and international firms in the sportswear sector.

Growth in the global compression wear and shapewear market during the period is likely to be driven by the Asia-Pacific region. The region's major economies—South Korea, Japan, and China—will contribute substantially to the market growth. 

Influenced by social media influencers and celebrity endorsers, the global shapewear segment is expected to grow at the highest CAGR during the forecast period. In terms of sales channel, the online sales segment is expected to grow at the highest CAGR during the forecast period.

The advent of e-commerce has made a wide variety of clothing and shapewear products from global manufacturers accessible to consumers. Widely available research on this trend enables them to explore different brands, styles, and functionalities.

Currently valued at $14.4 billion, the global textile yarn market is projected to grow at 5.1 per cent CAGR to reach $18.5 billion by 2028. 

As per a report by Markets and Markets, growth in this sector will be fuelled by factors such as an increasing base of the middle-class population in emerging economies and development of technically advanced yarns. 

Demand for textile yarns is also likely to rise owing to the manufacture of technologically advanced yarns with enhanced properties. Across the world, demand for technical textiles across diverse sectors such as apparel, medical, sports, automotive, and aerospace, is on a rise.

The plant segment in the textile yarn market is anticipated to experience highest rise in compound annual growth rate (CAGR) during the forecast period. This growth will be driven by an increasing demand for sustainable and eco-friendly products. 

Polyester will dominate growth within the artificial yarn category. The yarn’s exceptional durability, strength, resistance to abrasion, wrinkles, stretching and cost-effectiveness will drive its growth during the period.

The largest market share in 2023 will be held by Turkey which boasts of a highly skilled workforce, advanced production technologies and modern infrastructure. 

India’s second-largest employer with almost 45 million direct jobs, the textile and apparel sector is facing several challenges since the past one year. 

Garment factories across the country are noting a decline in work orders resulting in loss of jobs for lakhs of workers in states like West Bengal, Tamil Nadu and Tirruppur. Almost 40 per cent jobs in garment export units have been lost owing to work orders declining to 60 per cent, says PR Natarajan, General Secretary-Tiruppur, All India Trade Union Congress. 

Garment factories in Bengaluru, meanwhile, are facing labor shortage as most laborers have switched to working at shopping malls and metro rail stations, quips VP Rukmini, President, Garment Workers’ Union

As per a study by the Textile Committee, nearly 2.14 lakh jobs in the sector have been lost owing to the decline in exports and rise in imports from 2015-2020. 

The industry also lacks sufficient data on the impact of the slowdown on workers and wages in the post COVID years, including those on the cottage and micro industries; vast differences in labor profiles and systems between organised and unorganised sectors; migration of workers to better paying jobs if prospects do not improve for the textiles sector; and lower labor costs is other textile exporting nations affecting Indian exporters who compete on prices in the global market.

R. Karumalaiyan, National Secretary, Centre of Indian Trade Unions acknowledges, annual submission of data for the industrial surveys is poor as there is a lack of unionisation in the industry. Nevertheless, the sector needs to address its workers’ issues to ensure a speedy revival.