India’s textile and apparel exports reached its heights at $44.4 billion in 2U21-22.

Also including handicrafts, India’s textile exports grew by 41 per cent and 26 per cent over corresponding figures in FY21 and FY20, respectively.

The US emerged as the top destination for India’s textile and apparel exports, accounting for 27 per cent share. It was followed by the European Union which accounted for 18 per cent of exports, Bangladesh, which accounted for 12 per cent and Bangladesh which accounted for 6 per cent of textile and apparel exports from India.

Cotton textiles were the top exported category with 39 per cent share registering a growth of 54 per cent and 67 per cent over FY21 and FY20, respectively.

Export of ready-made garments surged by 31 per cent over FY21 and 3 per cent FY20 to $ 16 billion with 36 per cent share

Man-made textiles exports amounted to $ 6.3 billion with a 14 per cent share, which shows a growth of 51 per cent and 18 per cent during 2021-22 over FY21 and FY20, respectively.

Export of handicrafts grew by 22 per cent over FY21 and 16 per cent over FY20 to $ 2.1 billion with 5 per cent share.

Kering has completed the sale of its entire stake in Sowind Group SA, which owns the Swiss watch manufacturers Girard-Perregaux and UlysseNardin, to its current management, in accordance with the terms announced on January 24, 2022.

A global luxury group, Kering manages the development of a series of renowned houses in fashion, leather goods and jewelry such as Gucci, Saint Laurent, BottegaVeneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin, as well as Kering Eyewear.

By placing creativity at the heart of its strategy, Kering enables its brands to set new limits in terms of their creative expression while crafting tomorrow’s luxury in a sustainable and responsible way. In 2021, Kering had over 42,000 employees and revenue of €17.6 billion.

The June edition of Cotton This Month shows, decreases in the crop size of some top cotton-producing countries — including India, Argentina and South Africa — have resulted in consumption outpacing production as the 2021/22 season comes to a close. They were closely aligned through most of the year but given these smaller-than-expected crops, consumption is expected to exceed production by about 265,000 tons.

To assess the impact of those figures on prices, the stocks-to-use ratio — which measures the available cotton stocks as a share of cotton mill use — can help quantify the relationship between cotton supply and demand. When supply is tight compared to demand, the ratio is lower. A lower stocks-to-use ratio could indicate higher prices. In contrast, when supply exceeds demand then the ratio increases putting downward pressure on cotton prices. Planted area also can have a major impact on prices.

Despite the ongoing pandemic, the luxury apparel segment is set to surge again this year, as per the latest GlobalData report.

Titled Luxury Apparel Market Size, 2020-2025, the report shows, the market grew 24.1 per cent last year as it recovered from the devastation seen during the first year of the pandemic. Major luxury conglomerates, particularly LVMH and Keringmade the most of the heightened consumer appetite for luxury goods as demand jumped when restrictions were loosened.

And that recovery is continuing with growth this year predicted to remain high at 10 per cent to reach a market size of $149.2 billion. That percentage figure is particularly important because it’s higher than the wider global apparel market that’s set to rise ‘only’ 8.4 per cent in 2022.

The performance will be driven by strong domestic demand in the Asia-Pacific region and the US, despite mounting economic difficulties.

APAC market will grow at a compound annual growth rate (CAGR) of 7.9 per cent from now until 2025, compared to 6.7 per cent for the total luxury market.

After 18 months of non-stop acceleration, growth in the Chinese luxury market is set to slowdown to low double-digits in 2022, as per latest Bain & Co research. However, the pace of Chinese luxury consumption will remain stable with the local Chinese market overtaking the US market by 2025. As per a Women’s Wear Daily report, Chinese luxury market will account for almost 27 per cent of the global market in the forecast period with most of the growth driven by digital sales channels.

Growing cooperation with global markets

Rapid rise in consumption triggered by COVID-19 and reshaping of the global luxury boundaries has led to deep acceleration of China’s luxury market in the last two years. Growth of international brands accelerated to a great extent during this period though the domestic Chinese luxury market also showed maturity.

To study these shifts in China’s luxury market, a key observer of the Chinese fashion industry WWD China launched an online study in collaboration with Boston Consulting Group and Tencent Marketing Solution. Titled, ‘Luxury in China: The Driven Force and Ways to Create Efficiency and Growth’, the course highlights the key drivers of Chinese luxury fashion market.

It aims to improve cooperation between Chinese and international luxury markets. And helps brands drive growth by offering latest market insights, says Lena Yang, Co-founder and Vice Chairman, WWD China. Featuring three companies, the course explains the nature of Chinese market and its consumers in depth. It also elucidates on the corresponding best practices of brands in their respective areas of expertise.

According to Boston Consulting Group, China’s luxury market growth is mainly driven by two groups: high-income group consumers and post-1990s consumers. The report shows the consumption patterns of various consumer groups in China besides highlighting the impact of this generational shift on the luxury retail network.

Complete shopping experience through unique digital services

In recent years, Chinese luxury brands have accelerated their digital transformation to ensure they remain in touch with consumers, and convert reluctant consumers into confirmed buyers. Around one third luxury purchases in China are now made through online channels, says Lin An, Managing Director and Partner, Boston Consulting Group.

China’s growing online penetration and the rise of social commerce encourages digital players to ensure complete shopping experience for consumers on the platform. Online brands adopt innovative marketing tactics such as livestreaming e-commerce and augmented and virtual reality shopping experiences, and private traffic community management to boost sales on their platform.

China also offers marketplaces such as Tmall and JD.com, besides platforms such as Xiaohongshu and Weibo for luxury buyers. With over 1.2 billion monthly active users, luxury platform WeiXin ensures higher brand awareness and loyalty for brands. The platform’s Mini Program offers international brands an opportunity to develop their direct-to-consumer business locally. It gives them the required control over data, marketing performance and product offerings. Another of China’s leading tech conglomerate, Tencent helps brands collaborate to activate market in other areas such as music, animation, and gaming. The new WWD China report will further help global brands capitalize on their market potential.

The rivalry between sportswear giants Nike and adidas is taking a new turn with the two sports brands doubling their collaborations with luxury brands like Louis Vuitton, Gucci, Jacquemus and Balenciaga. Luxury brands are launching new collections every week in collaboration with the two sports apparel, shoes brands.

A metaverse battle

The ongoing battle between the two rival brands is also being played out in metaverse with both launching their own parallel universes within a few days of each other They are eyeing the luxury fashion sector with adidas announcing a collaboration with the world’s most popular fashion house, Balenciaga. The collaboration was unveiled the during the recent showcase of the brand’s spring 2023 collection in New York featuring models in latex suits covering their faces. The collaboration included a reinterpretation of the iconic Triple S, stamped for the occasion with adidas's iconic three stripes, but also T-shirts, track pants and jackets, tank tops, a strapless dress, and even baggy denim pants, also embellished with the signature three stripes.

The two brands put the collection on sale straight away and only for a limited time. The collaboration gave them a lead over Nike as adidas will follow this with another collection in collaboration with Gucci.

Confluence of luxe fashion and sportswear

Not to be left behind, Nike hit back by announcing a collection with one of the most prominent houses on social media: Jacquemus. The collaborative collection focuses on the American giant's vintage pieces and outdoor pursuits, with a bucket hat, cycling shorts, and a striking new version of the Humara shoe. The collection is set to be launched on June 28.

The confluence of designer fashion and sportswear has reached its peak today, bringing together audiences from previously diverse worlds giving luxury fashion center stage on the street while putting sportswear on the most prestigious of catwalks.

The Taiwan Textile Federation (TTF) has launched its "Textile Export Promotion Project" (TEPP) to promote exports of premium textile by exporters adopting circular economy principles.

As a country that cares about sustainable development, Taiwan's textile industry attaches great importance to introducing advanced technology and using recycled materials to produce environmentally friendly products in a circular way.

Leading textile manufacturers, such as Super Textile, Libolon, Kingwhale and Hermin, are playing an essential role in promoting a circular economy mindset.

Super Textile Corp. continues to create fabrics with recycled components that reduce the impact of waste on the environment. The Taipei-based company received the National Enterprise Environmental Protection Award and the Industrial Waste Reduction Award for its Pineapple Leaf Fiber Fabric.

With a solid commitment to sustainable principles, Libolon produces recycled polyester material derived from post-consumer wastes such as plastic bottles and marine litter into mechanical recycled PET or pre-consumer wastes such as fabric wastes as well as discarded polyester fabric.

Libolon has an extensive collection of recycled polyester products in multiple categories for woven and knit fabric that adhere to the international textile standards, according to Steven Su, assistant vice president at Libolon.

Kingwhale has set clear goals for cutting carbon emissions to protect the environment and promote sustainable development. By setting clear goals for becoming carbon neutral by 2050, Kingwhale has positively impacted the environment and contributed to a more sustainable future.

The textile industry is notoriously complex, and sustainable fabric production often falls by the wayside as companies prioritize profit over environmental responsibility. HerMin Textile aims to meet this demand by investing in new technologies and processes that will allow them to produce fabrics more sustainably. One example of this is the company's recycled materials, which have helped reduce factories' waste.

With this observation in mind, HerMin Textile is working on new methods of dyeing and printing fabric that use less water and chemicals. The Taiwan company shows its commitment to becoming more sustainable and responsible by investing in these initiatives.

A Texbrasil (Brazilian Apparel and Fashion Industry Internationalization Program) brand — result of a partnership betweenAbit (The Brazilian Textile and Apparel Industry Association) and ApexBrasil (Brazilian Trade and Investment Promotion Agency), brandColtexTêxtilhas launched a collection inspired by challenging scenarios, the connection between nature and technology, in art and wellbeing, with creative and daring prints, unique textures, colors and fabrics.

Highlights of the collection include Extreme Emana fabrics and the Elastic line, items featuring compression, high elasticity and maximum comfort for sports that demand performance and freedom of movement. The brand has also showed the main consumer trends and forecasts for the Winter 2023 season, in addition to new textile technologies aimed at the fitness, beach and lingerie markets.

One of the key players in the embroidery and laces in India and owners of brand Hakoba, Pioneer Embroideries (PEL), plans to invest in Shree Ganesh Textile park with a view to modernize and consolidate embroidery business at single location.

Pioneer Embroideries is becoming a promoter in Shree Ganesh Integrated Textile Park Private Ltd. (SGITPL), at village Deogaon, district Dhule, Maharashtra, a textile park approved under Government of India (Gol) Scheme of Integrated Textile Park (SITP). PEL will set up a greenfield embroidery project at SGITPL.

Government of India and Maharashtra Government (MH) has approved grants of Rs. 49 crore Total approved project costs as per GoI is Rs. 104 crore, comprising of approximate Rs. 57.20 crore towards factory buildings and Rs. 46.80 crore towards common infrastructure, viz., site development, roads, storm, rain water harvesting, water connection, sewerage, landscaping, telecommunication, electrical transmission and distribution, hostel, training centre, etc. The park is spread over 120 acres.

PEL believes this will help to set up a greenfield embroidery manufacturing facility and provide enough land parcel to expand in the long-term future too. This will help PEL achieve its ESG (environmental social governance) initiative.

PEL will become one of the three co-promoters. SGITPL has already received Gol approval to accept PEL as co-promoter. All the three promoters are investing 33 per cent each.

A part of the luxury goods company Hermes, Holding Textile Hermès and its Bucol textile brand have obtained GOTS Certification to reaffirm their eco responsible commitment towards a more sustainable fashion world. Bucol silk and cotton products are already OEKO-TEX certified.

The silk and cotton fibers used by Bucol are sourced organically. The chemical substances used in Bucol’s products are carefully selected to be less harmful for mankind and nature, a rigorous traceability is followed during production processes and precise social criteria are respected, the company said in a media release.

“Since its inception, Bucol has been committed to offer its clients’ high-end textiles with an exceptional level of quality. Its people are at the centre of its creative process, anchored in modernity and in the universes of fashion and accessories. Bucol appeals to the rarest expertise of the Lyon region such as the warp print technique or knife cut velvet and works with the best craftsmen either from its own house or from its external partners. Because of this, Bucol is naturally moved by ethical and environmental issues,” the release added.

Holding Textile Hermès, which Bucol belongs to, has received GOTS Certification by Ecocert under license number 228603.