China exported rayon yarn worth 123.324kt of rayon yarn in the first half of 2022, up 50.88 per cent Y-o-Y including 86.956kt of single yarn and 13.105kt of ply yarn, respectively up 54.57 per cent and 59.53 per cent on yearly basis. Thus, the export of pure spun yarn occupies 81 per cent of total rayon yarn exports. At the same time, the export of rayon blended yarn amounts to 41.57kt, up 140.78 per cent y-o-y. After 2020, the export growth in the first half of year has been rising rapidly. The percentage of single yarn has been expanding to around 71 per cent, while that of ply yarn is gradually squeezed.

Rayon single yarn exported to five destinations (Brazil, Bangladesh, Pakistan, India and Vietnam) in the first half of 2022 amounts to 78.878kt, up 55 per cent y-o-y, accounting for 91 per cent of total single yarn exports, which was 68 per cent in 20217 and the increment is mainly contributed by India. Therefore, the export dependency of China's rayon single yarn is still high.

Rayon single yarn exported from Jiangsu, Zhejiang, Fujian, Xinjiang and Sichuan totals 84.433kt in the first half of 2022, rising 56.24 per cent y-o-y. The percentage of major origins changes little, except for fast growth of Zhejian

Tamil Nadu Spinning Mills Association (TASMA) has decided to take stringent action after the International Cotton Association (ICA) and rejected its request for cancellation of contracts. As per A Venkatachalam, the association will soon blacklist suppliers that do not invoice back actual losses, refuse to cancel contracts and payback the advanced amount received by them.

Venkatachalam said the draft rules, which were framed under the bylaws of ICA, and the way the suppliers/shippers follow them, completely go against the concept of ‘Rules of Fair Practice’. TASMA believes, ICA did not respond its concerns raised in the letter. TASMA had said that there was no provision of compensation in the contract on account of inordinate delay. High volatility in cotton prices and exchange rates reversed market conditions because of inordinate delay on the part of suppliers. The importing mills could not consume cotton and supply yarn to their buyers as per plan because they did not get deliveries even after waiting for four months. TASMA has demanded modification of the draft rules of the contract to maintain a reasonable balance in the interest of buyers and sellers.

The Q1 FY’23 revenues of VF Corporation increased 3 per cent with revenues of North Face brands growing in double digits. Revenue of the Denver, Colorado-based company increased by 3 per cent to $2.3 during the three months ending July 2 with big four brands growing 2 per cent and the balance of the portfolio growing by 9 per cent.

Revenue of The North Face grew 31 per cent to $481.1 million over the same quarter last year. Revenue of Timberland grew 8 per cent to $269.5 million. On the other hand, sales of both Vans and Dickies fell 7 per cent and 15 per cent to $946.8 million and $170.4 million, respectively. The company's 'other brands' category grew by 9 per cent, to $393.9 million.

Region wise, revenues from the Americas, VF Corp's largest market, increased by 6 per cent to $1.4 billion while from EMEA market it increased 10 per cent to $594.6 million; offsetting a 20 per cent plunge in APAC revenues and a 1 per cent dip in the company's international segment for the three months.

Brazil’s Chamber of Commerce and the Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) have signed an MoU to boost two-way Brazil-Bangladesh textile-apparel trade. The MoU will enable Bangladesh to penetrate deeper into Brazil market for its textile products, while boosting cotton imports from the country. Bangladesh depends on Brazil for cotton imports. On the other hand, it exports readymade clothes to the country.

However, Brazil’s imports of readymade garments have been on decline since March 2022. Imports decreased to $8.15 million in June from $10.379 million of May 2022. Annually, Brazil’s apparel imports from Bangladesh decreased to $99.700 million in 2021 from 111,984 million in 2022. Import peaked at $193.407 million in 2018. However, home textiles import of Brazil from Bangladesh was negligible at $1.125 million in 2021.

On the other hand, Brazil’s export of cotton to Bangladesh declined to $44.633 million in June from $46.387 of May 2022. Brazilian export of cotton to Bangladesh increased to $437.492 million in 2021 from $323.441 million in 2020.

Andrea Incontri is the new creative director of Italian fashion brand Benetton. Incontri’s will enable the brand to exceed the goals that characterized its birth and history, says Massimo Renon, CEO, Benetton Group. His arrival will bring new energy to the brand that aims to make a generational change and guide Italian industry in these years, he adds.

In August, Benetton will launch a new advertising campaign under Incontri’s direction on all channels to present United Colors of Benetton’s Fall/Winter 2022-23. The first to be designed by Incontri, the summer ’23 collection will be officially presented in September, on the occasion of Milan Fashion Week. An architect by qualification, Incontri has vast experience as creative director, both at his brand and at Tod’s. His style is rooted in a formal subtraction and guides Benetton towards creating complex designs for today’s complicated world.

Incontri says, his appointment to Benetton enables him to participate in a project of values that involves not only clothing, but a wide range of cultural issues concerning the variable aspects of modern humanism.

Making its return to Beijing in 11 years, Italian luxury brand Prada will organize a runway show to present its men’s and women’s fall 2022 collection on August 5. As per a Women’s Wear Daily report, the fall 2022 collection will be showcased at Prince Jun’s Mansion, a courtyard hotel in downtown Beijing in traditional Chinese style.

Prada has being organizing runway shows in China despite COVID-19-related travel restrictions. Its sales in the country rose by 56 per cent during the 12 months that ended December 31. Last September the brand showcased its women’s spring 2022 ready-to-wear collection simultaneously on catwalks in Milan and Shanghai.

In June 2019, Prada showcased its men’s spring 2020 collection at Minsheng Wharf, the 80,000-ton warehouse in Beijing. In September 2017, Prada restaged its resort 2018 collection at Rongzhai, the restored historic mansion in Shanghai. Prada’s Beijing runway show next week will go live at a time when the capital city is sticking to its Zero-COVID policy ahead of the Communist Party National Congress later this year.

Ludhiana-based leading textile conglomerate, Vardhman Textiles has declared its un-audited financial results for the first quarter of FY ’23.

According to these results, Vardhman Textiles FY23 Q1 net profit increased by 4.13 per cent on a standalone basis to Rs. 313.35 crore as against Rs. 300.92 crore in the corresponding quarter of previous year 2021-22.

The company’s topline surged by 44.25 per cent to Rs. 2,731.01 crore in Q1,FY ’23 over the corresponding quarter of the previous fiscal.

The earnings before interest, depreciation, taxes and amortization (EBIDTA) margin for the Q1, FY ’23 stands at 19.36 per cent as against 26.55 per cent during the corresponding quarter of the previous FY.

Offering a variety of yarns and fabrics, Vardhman Textiles is also expanding its product capacity.

Sales of Tencel™ Luxe, the lyocell filament yarn brand under Lenzing’s textile specialty brand, grew five times the volumes achieved previous year in 2021 and is on track to increase its existing production capacity by 25 per cent in 2022 to cater to growing demand.

Tencel™ Luxe targets all corners of the luxury and premium market to facilitate co-branding opportunities, bringing Tencel™ Lyocell filament yarn to public figures and runways. It has repeatedly appeared in collections by renowned designers such as Italian sustainability ambassador Flavia La Rocca, multi-disciplinary artist Osman Yousefzada at London Fashion Week and eco-couture house PeetDullaert , which recently celebrated its 10th anniversary during Paris Couture Week.

In the pipeline for this year, Tencel™ Luxe will continue its collaborations with Dutch cult design duo Viktor & Rolf, who are using exclusive Tencel™ Luxe fabric developments for their haute couture and bridal collections, conscious luxury brand Bav Tailor, and Vogue UK’s “One to Watch” Anciela, whilst expanding its partnership portfolio through collaborations with brands including DeepikaGovind, Taneira and Safaa.

Tencel™ Luxe will also be showcased in exciting new collaborations with Patrick Mcdowell at London Fashion Week 2022 and LVMH Prize finalist Róisín Pierce at Paris Fashion Week 2022.

Badly hit by Brexit and COVID-19 pandemic, the value of UK’s apparel imports has been declining from 2019, when it became imminent that Brexit is going to take place. The subsequent onset of COVID-19 only increased this declining trend. However, home textiles imports performed better in 2020.

UK’s apparel imports peaked in 2018 at $26.502 billion, compared to $24.308 billion in 2017. But the declining trend started since 2019 when the import value was $25.809 billion. It further decreased to $22.943 billion in 2020 and 20.886 billion in 2021. Imports in the first four months of this year stood at $7.634 billion.

However, home textiles imports decreased only last year to $4.212 billion in 2021 from its peak of $7.974 billion in 2020. The value of imports was almost at the same level in the preceding three years – $5.364 billion in 2017, $5.548 billion in 2018 and $5.593 billion in 2019. The figure stood at $1.274 billion in January-April 2022.

Imports of cotton apparels continue to dominate the US’ apparel imports with 49.22 per cent share in overall US apparel import values.

As per an OTEXA report, the US imported apparels worth $40.94 billion during the January to May 2022 period, of which $20.15 billion is shared by cotton apparels.

The share of MMF apparels was $18.89 billion – 46.14 per cent of the total import values.

The data further indicates that $1.09 billion was spent to source apparels made from silk and vegetable fibres, while wool apparels’ import was worth US $ 801.25 million.

Vietnam remains the top destination for the US apparel buyers for cotton apparels as the country shipped US $ 3.17 billion worth of apparels made from cotton to USA in the said period.

Bangladesh and China followed Vietnam with $2.91 billion and $2.63 billion worth of cotton apparel shipment to the US. India’s cotton apparel export to the US valued $2.02 billion in the same period.