Bangladesh’s knitwear exporters want the US dollar rate refixed upward. This, they say, will enable them to encash export proceeds as in the case of remittance earnings and would help them survive amid local and global shocks and maintain harmony between export and import rates.

The sector’s production cost has gone up significantly with the rise in global prices of oil, transportation, raw materials and other logistics, and as a result they say it has become tough for them to make the desired profit through exports. Exporters say they are incurring huge loss due to the difference between import bill payments and export proceeds encashments in dollars. So they want imports and exports to be in harmony.

The knitwear segment has retained its position as Bangladesh’s biggest exports earner in the readymade garment sector. Policy supports like cash incentives and utility have helped the entrepreneurs invest in the knitwear sub-sector including the backward linkage yarn, fabric and dyeing segments.Besides, changing patterns in fashion and buyers' preferences for quick delivery of products due to the long lead time caused by Covid-induced lengthy transportation also pushed buyers to source knit products from Bangladesh. Composite units having their own knitting, dyeing, sewing and finishing facilities are the other strengths of the country's knitwear sector.

Fashion Re:set Summit was held in the UK, October 11, 2022. The event was organised by the Association of Suppliers to the British Clothing Industry (ASBCI), the only association in the UK that brings together the clothing industry from fiber to garment manufacture, retail and aftercare.

The event was held around four key themes – ESG, sourcing, digital transformation, and staff well-being and talent management. There was a combination of presentations and panel discussions. The summit opened with a keynote presentation on the current state of the industry. There were sessions on sourcing, digital transformation and the skill shortage in UK garment manufacturing.The sourcing segment discussed how the industry can overcome the sourcing challenges of the last few years and the opportunities of new technologies, near-shoring, made-on-demand, and personalisation. The digital transformation segment debated the challenges, opportunities, benefits, and potential pitfalls of digital transformation. Yet another topic was one catapulted into the limelight by Covid – employee well-being and its link with talent management and the skills shortage.

ASBCI called on the fashion industry to work together to find collective solutions to its most pressing challenges. The event format was designed to encourage debate and foster collaboration at all levels between ASBCI members and the wider industry.

Sri Lanka’s apparel sector is coming under increased taxation.

The standard corporate income tax rate has been increased to 30 percent from 24 percent. The sector feels the additional rate of taxation will make the apparel industry very uncompetitive when compared with regional peers. Manufacturers fear the resulting consequences will be dire and may have disastrous outcomes for an industry that is striving to increase export income, local value addition, foreign direct investments, sustaining employee security, and economic growth.

Sri Lanka’s apparel sector is currently witnessing a significant decline in orders. The decline comes after impressive growth was seen in the first eight months of the year 2022. The country’s apparel industry is already confronting a 25 percent decline in its order books for the fourth quarter of 2022 due to rising inflation in the biggest export markets, disruptions in global supply chains, and geopolitical tensions.

For the period of January 2022 to August 2022, Sri Lanka’s merchandise exports increased by 12 per cent.Apparel andtextile exports increased by 19 per cent Except made-up clothing accessories, knitted fabrics, yarn and textile floor coverings, exports of other sub categories of the apparel and textiles sector increased.

Retailers like Marks & Spencer and Primark are taking steps to stop sourcing from Myanmar.

Marks & Spencer will cease sourcing from Myanmar by March 2023. Apart from Marks & Spencer, at least 32 global fashion brands and retailers have manufacturing links to Myanmar, including Adidas, Inditex, Fast Retailing, H&M, Next, Matalan and Primark. H&M ceased production in Myanmar in March 2021 in response to two protesters being shot by police. Primark has decided to exit Myanmar saying there are significant challenges to its ability to ensure the standards it requires protecting the safety and rights of the people who make its clothes and products.Retailers are having to decide whether their customers think that it is ethical for them to be buying from Myanmar. The Rohingya persecution issue has caught the imagination of large parts of the UK customer base. On the other hand organisations campaigning for the rights of garment workers have urged retailers exiting Myanmar to ensure that what they think is a responsible exit actually has a beneficial impact on the workers that they are leaving behind. Campaigners say the threat to workers’ quality of life by brands leaving is very real and financial compensation is the only way to prevent workers falling into destitution.So brands have been called on to set up a fund to provide garment workers with a basic income over the next year.

Japan's textile and apparel imports in August 2022 were up 15 per cent year-on-year and 25 per cent month-on-month.

The import volume from China increased by 13 per cent year-on-year and 29 per cent month-on-month.From January to August, Japan’s textile and apparel imports increased three per cent year-on-year and a decrease of 0.5 per cent over the same period in 2019.The growth rate of apparel imports exceeded 30 per cent for four consecutive months.

In recent years, the proportion of import volume and value of Japan's textile and apparel imported from China in total imports had a certain seasonal rule, accounting for the largest share in September or October every year, then gradually falling back to a relatively low level in April or May of the next year, and then fluctuating. Japan's textile and apparel imports growth hit a new-2022 high because of the low base in the same period of 2020.

Japan is a sophisticated market, leaning towards small-lot and short cycle delivery of supply. Consumption is diversified and quality expectations are very high. High quality and expensive Indian garments are gaining popularity in Japan. Customers like selecting garments that have a different character when compared with dresses and kimono worn at such occasions as weddings and parties.

Hanes Brands has formed a partnership with the University of California, Berkeley.

According to the agreement, Hanes Brands will design, manufacture and distribute an expansive collection of men’s, women’s, unisex, youth, infant and toddler fan apparel. In addition, it will create special activations and enhanced retail presentations.The ten-year strategic agreement gives Hanes Brands exclusive rights to design, manufacture and distribute high-quality, on-trend fanwear across mass and campus/local.The deal broadens the university’s retail footprint and includes the company’s iconic Champion and Hanes brands, the eco-forward Alternative Apparel brand and the garment dyed Comfort Wash brand.

Hanes Brands is the world’s largest supplier of collegiate fan apparel and one of the world’s most ethical companies. Its commitment to responsible, transparent manufacturing is ingrained in everything it does, as is the focus on continuous improvement of its environmental performance. The brand is unique in the apparel industry because it owns the significant majority of its manufacturing and supply chain operations and is known for transparency, managing emissions, implementing best practices and taking coordinated action on climate-change issues.

With over 68,000 worldwide employees, the company embraces environmental stewardship and the conservation of natural resources. Since 2007, the company has reduced energy intensity by nearly 21 per cent.

Invista has opened the Asia Innovation Center in China. The center will serve as a key capability within Invista’s global R&D network and is the company’s first R&D center for nylon 6,6 application development in Asia.

The AIC is positioned to broaden the possibilities for application development in engineering polymers and provide superior innovative solutions for customers in Asia.The lab is equipped with melt processing capabilities and a wide range of aging and mechanical testing equipment to determine key engineering polymer properties such as tensile and impact strength, hydrolysis resistance and flammability, as well as thermal transitions in polymer, including melting point temperature and crystallization temperature.

To accelerate innovative outcomes, the center has also established capability in CAD/CAE to simulate the behavior of nylon polymer under stress in real part dimensions. Located near Invista’s integrated nylon 6,6 facilities, the AIC contributes to Invista’s nylon 6.6 value chain.

With the pursuit of safer and more energy-saving applications in downstream fields, notably automobiles, manufacturers are seeking advanced nylon 6,6 solutions to improve application performance at reduced costs. Staying close to customers’ needs, Invista will provide cutting edge equipment and professional support to establish local expertise in engineering polymer formulations, applications, design, and testing.

Bangladesh’s exports of denim apparels to the US in the first eight months of 2022 rose by 46 per cent. So Bangladesh's denim shipments to the United States continue to be on a roll even when the North American country is slowing down sourcing amid falling consumer demand caused by runaway inflation.

Bangladesh has been an attractive destination for sourcing denim garments mainly because of shorter lead backed by a strong backward linkage and availability of products at competitive prices. US buyers are still coming to Bangladesh because they can buy denim garments at comfortable prices, which is helping the country maintain its leading position in that market.

But things do not look rosy when it comes to denim shipments to Europe, another major market for Bangladesh. Europe is grappling with depressed consumer demand for clothing amid soaring inflation fuelled by the ongoing Russia-Ukraine war. Denim producers in Bangladesh have had to halve their production owing to a drop in demand from European customers. During an economic crisis, people are not willing to buy apparels instead of food and medicines and other essentials. The European denim market has been seriously affected by the war.A number of buyers are asking for delayed shipments and some are going slow in placing new orders.

Forever 21 is planning a major comeback. The company had filed for bankruptcy in 2019 and was heavily leaning on e-commerce for the past few years. The move is the latest attempt by Forever 21 to reinvent itself after falling out of favor with some younger shoppers.

The retailer’s failure to attract Gen Z shoppers began during the late 2010s, and was solidified by its bankruptcy woes. Forever 21 fell out of favor with Gen Z and millennials who began gravitating toward thrifting, resale and shopping sustainable brands. Forever 21 has shifted its focus to rebuilding its presence throughout the US, while turning to collaborations, influencers and a better-curated assortment to drum up excitement for its brand once again.

The company will open new stores across the country. The majority of the new stores will be located at outlets or outdoor malls. Despite announcing plans to close nearly 200 stores at the start of 2000 the company currently has 572 freestanding locations globally — and will soon add another dozen.This year, Forever 21 has largely focused on brand collaborations to drive hype.Forever 21 has already begun advertising the new set of stores, working with local influencers to showcase the new layouts and assortments.

China was the top supplier of home textiles to Germany in the first half of 2022. Among exporters of home textiles to Germany, China had a 27 per cent share even as its share declined by 38 per cent from the first half of 2021.Turkey’s exports of home textiles to Germany from January 2022 to June 2022 amounted to ten per cent of the latter’s imports. Turkey’s supply increased by 14 per cent year-on-year.Poland accounted for eight per cent of Germany’s home textile imports. But the supply declined by 12 per cent from the first half of 2021.Germany’s imports of home textiles from Netherlands in the first half of this year wereeight per cent of its total imports. But they decreased by 31 per cent from January 2021 to June 2021.Pakistan’s shipment of home textiles to the European country rose by 21 per cent in the first half of 2022 compared to the first half of 2021.

As for the share of other countries in Germany’s home textile imports, India had a five per cent share, Czech Republic four per cent, Belgium two per cent, Austria two per cent and Vietnam one per cent.