To be held on June 21 – 22, 2022 in Munich's MVG Museum, View Premium Selection will showcase F/W 2023/2024 collections.

As per The Spin Off report, the preview textile trade show will present the latest developments, the first color and material trends and a selected product portfolio in a unique and professional atmosphere.

Around 250 brand-new collections will participate in the areas of Fabrics Additionals, Design Studios, Denim and Sportswear. Exhibitors will come from Germany, Italy and Turkey, along with France, England, Greece, Spain, Denmark, Hong Kong, China and Japan.

Among them there will be Bellandi, Dynamo, E. Miroglio, Lisa Spa, Manteco, Max Müller, Agentur Püttmann, Set and Tejidos Royo. Exhibiting for the first time will be We Nordic, Knopf und Knopf, Le Studio Copenhagen, Thermore and Kipas.

The event will be followed by the Munich Fabric Start and Bluezone shows respectively from August 30-September 01, 22 at the MOC Munich and from August 30-31, ‘22 on the Zenith Area.

The next edition of Kingpins Amsterdam has been planned from April 20-21, 2022 at Sugar City.

As per a Spin Off report, the show will host over 80 exhibitors including Advance Denim, Arvind, Bossa, Calik, Cone Denim, Desert Studio, Evlox-Tavex, Kipas, Kilim Denim, Kurabo, Lenzing, M&J Group, Naveena Denim, Sharabati Denim, Soorty, Tejidos Royo, The Lycra Company, Tonello, Vicunha and Wiser Wash, among others.

The event will include a series of celebrations of special anniversaries. Among others, the German chemical specialist Rudolf Group will celebrate the 100th anniversary of its foundation as protagonist and sponsor of the show’s happy hour.

Other anniversaries include Dystar’s 125th birthday. Tonello will celebrate 40 years of activity focused on processing jeans, while Officina+39 and Lenzing will both blow 30 candles.

By 2023, Kingpins will also host companies from Uzbekistan as the country is on the threshold to become a key supplier of the jeanswear industry soon. It is the seventh-largest cotton producer in the world, at similar crop-size levels of Pakistan and larger than that of Australia and Turkey. The country employs between 2.5 million and three million farmers and produces almost one million metric tons of cotton which is about two billion pounds, or enough for four billion T-shirts or 1.3 billion jeans.

Moreover, Uzbekistan’s spinning capacity now exceeds its cotton production and in 2023, it will begin importing cotton. The country currently has only three denim mills and four jeans factories but more might soon be established.

Levi Strauss & Co is building a 70,000 sq. meter sustainably-minded state-of-the-art distribution center in Dorsten, Germany.

As per a Spin Off report, the center is being built in a former mining site and is inspired by Cradle to Cradle principles as it will follow science-based measures in terms of material health, renewable energy and climate, water and soil stewardship. Furthermore, it will also encourage product circularity and social fairness practices.

The new center is scheduled to start operations in April 2024. It will supply the European market with up to 55 million articles from a wide range of offerings and will support the company’s omnichannel strategy, making Dorsten become a central location in LS&Co.’s operations.

The venue will be built according to sustainability design principles, and will be certified by some of the highest standards such as LEED (Leadership in Energy and Environmental Design) and WELL Health-Safety.

The new distribution center will create up to 650 new jobs at full capacity, making it become a high attraction working location within its area. It will be built from sustainably sourced concrete, and also feature a geothermal heating and cooling system. It will hist vegetated walls, rooftop solar panels and a green roof, bicycle commuter storage, electric vehicle chargers, an on-site park as well as advanced recycling facilities.

French luxury goods group Kering will pay almost €187 million ($207 million) to settle a dispute with Italian tax authorities centered on its fashion brand Bottega Veneta.

As per a Fashion Network report, revenue at the Italian leather goods house were booked through Kering's Swiss-based subsidiary Luxury Goods International and Italian prosecutors and the tax should therefore have been paid in Italy, not Switzerland., argue tax authorities.

Luxury Goods International paid €186.8 million to settle the tax case, covering the fiscal years 2012 to 2019.

Separately, Milan prosecutors' are still investigation the company for tax evasion. These prosecutors have in the past probed US tech gaints such as Apple, Amazon and Facebook over taxes allowing Italy to net several billion euros in fines and tax payments.

In previous cases, once the agreement between the companies and the Italian tax agency was signed, prosecutors closed the criminal investigation with either a dismissal or a settlement.

Global denim manufacturer Isko has signed the Dutch Denim Deal for circular denim.

A public-private initiative, the Denim Deal, was launched by the Dutch government following the EU Green Deal and the Circular Action Plan, and includes agreements to make the denim textile chain more circular. It has signed by over 40 players, including brands, manufacturing companies, retailers and weavers such as PVH, Scotch & Soda and Soorty They are working together to improve post-consumer textiles in the denim industry and make fiber recycling the new norm.

The deal aims to collectively produce a total of three million jeans with post-consumer recycled cotton (PCR) by the end of 2023. In addition, all parties will have to work together to ensure that their future collections use at least 5 per cent recycled textiles. The Denim Deal also provides an opportunity to set up a 'reverse supply chain' for recycled cotton and create a systemic change to close the denim cycle.

Leading manufacturer and exporter of home textiles, Indo Count Industries has acquired the home textile business of GHCL in Gujarat, through slump sale and acquisition of specified assets of Grace Home Fashions LLC for Rs 592.8 crore

As per an Equity Bulls report, the acquisition will catapult Indo Count to a leadership position in the Global Home Textiles Bedding segment: The company will become the world's largest home textile bedding manufacturer, with an annual capacity of 153 million meters. It will add ~ Rs.1,300 - 1,500 crore p.a. to the topline of the company at peak capacity

Indo Count will add a whole new avenue of customer base which is untapped, thereby leading to a gain in global market share. Current customers of GHCL Home Textile business will gain access to ICIL's full product portfolio consisting of fashion, utility, and institutional bedding

The customer-centric approach will enable ICIL to be more flexible and strengthen customer service levels resulting in a strong Global Supplier and Brand in the Home Textile Industry

A steep rise in raw material prices has compelled Aditya Birla Group’s flagship company Grasim Industries to increase VSF prices by upto Rs10 per kg, which is around 6 per cent of the previous rates. The hike in prices is due to a steep rise in prices of cotton, polyester and acrylic staple fibre.

According to market sources, Grasim has increased VSF prices by Rs 7 per kg. It has also increased dyeing charges by Rs 3 per kg. Therefore, total increase is around Rs 10 per kg. The price of modified fibre has been increased by Rs 8 per kg. After the increase, average rates of VSF reached Rs 175 per kg for up to the quantity of 50 MT. The average rates will be Rs 172 per kg for bulk buyers.

VSF prices are not driven by costlier crude oil as it is sourced from wood. But costlier natural fibre pushed up price of the tree-based fibre. General inflationary effect is also a cause for the price rise.

Omnichannel platform for retail brands, the Reliance-backed Fynd has collaborated with Magicpin, the platform for access to local retail, connecting offline retailers with online consumers.

The partnership will enable Fynd's clients to experience faster hyperlocal deliveries, reach an extended customer base, and enhance their revenues. With this integration, magicpin now becomes the first player to enable hyperlocal deliveries in the fashion category.

Magicpin uses technology to enable the discovery of local places, shops and products for consumers across categories such as food, grocery, pharma and fashion. In 2020, magicpin started its home delivery business, delivering products from local stores. magicpin currently has more than 6M+ monthly active users and 200,000+ paying merchants.

The integration offers an abundant pool of opportunities to Magicpin, like accessing Fynd's enriched brand portfolio and strengthening its omnichannel strategy.

Despite satisfactory Q1 results, H&M plans to close 240 stores globally in the year ahead. However, the brand also plans to open 95 new stores, so the net loss of shops overall will be 145.

Besides existing markets, the group will also foray into new established markets. It recently had to shutter 185 of its stores temporarily due to the Russia-Ukraine conflict.

As per Fashion Network, Russia had been H&M’s sixth-largest market and represented 4 per cent of its sales. The closures already crimped sales in Q1 and Q2 doesn’t look like being any better.

Hennes & Mauritz AB (H&M) is a Swedish multinational clothing company headquartered in Stockholm. Its focus is fast-fashion clothing for men, women, teenagers, and children. As of November 2019, H&M operates in 74 countries with over 5,000 stores under the various company brands, with 126,000 full-time equivalent positions.

Mounting dues of $634 million compelled it to take over debt-laden Future Retail’s stores, says Reliance Retail, India’s top retailer.

Through this takeover, the company aims to dominate the $900-billion retail sector that set off a bitter dispute in which India's Supreme Court will decide whether Reliance or Amazon.com Inc gets to scoop up Future's assets.

Over months, Reliance has taken over the leases of more than 900 of Future's 1,500 stores, while still allowing the company to run them.

As Future proved unable to pay outstanding dues and losses in its retail operations swelled, Reliance decided to exercise its legal right to take over the stores, the letter added.

Earlier, the company had proposed a $3.4-billion deal to buy Future's retail, wholesale and logistics operations, as well as some other businesses.

But following Reliance's abrupt takeover of its stores, Future sought several assurances in a March 2 letter, asking if Reliance would stick to the deal without changing its value or terms.