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The Swedish Textile Machinery Association (TMAS) has secured its place as the newest Associate Member of the International Textile Manufacturers Federation (ITMF), marking a significant expansion in the forum's reach within the global textile manufacturing value chain.
With TMAS onboard, ITMF now encompasses companies responsible for nearly 90 per cent of global textile and apparel production. This development underscores ITMF's growing influence, exemplified by its upcoming Annual Conference in Samarkand, Uzbekistan, from September 8-10, coinciding with the International Apparel Federation’s 2024 Fashion Convention. This follows the success of ITMF's 2023 conference in Keqiao, China.
TMAS brings to the table a wealth of expertise reflective of Sweden's leadership in textile technology. From advanced yarn fault detection to automated sewing production lines, TMAS members offer a comprehensive array of cutting-edge solutions crucial for staying ahead in the fast-evolving textile landscape.
Christian Schindler, ITMF Director General, expressed enthusiasm for the collaboration, highlighting its potential to empower members with the latest technologies. TMAS Secretary General, Therese Premier-Andersson, echoed this sentiment, emphasizing the importance of collective action to achieve sustainability goals. She underscored the value of ITMF's resources, including statistics and global networking opportunities, in shaping industry strategies and navigating dynamic market trends.
Techtextil, a pivotal event in the technical textiles sector since 1986, recently celebrated its 20th edition with an homage to its founding exhibitors.
Hosted by Messe Frankfurt on April 24, 2024, in Hall 9, the ceremony recognized industry stalwarts like the Karl Mayer Group for their pioneering contributions.
Detlef Braun and Sabine Scharrer of Messe Frankfurt presented commemorative plaques acknowledging the enduring dedication of these pioneers.
Jochen Schmidt, General Manager of Karl Mayer Technical Textiles, expressed gratitude for the recognition, highlighting their integral role in the fair's inception and ongoing success.
Schmidt emphasized Techtextil's continued significance as a platform for innovation and customer engagement.
Reflecting on a fruitful Techtextil 2024, the Karl Mayer Group eagerly anticipates future editions, underscoring the event's enduring relevance as a nexus for industry advancement and collaboration.
In a landmark collaboration, Autumn Fair, the eminent seasonal showcase for the retail sector, has forged an exclusive partnership with Faire, Europe's premier wholesale marketplace. This alliance marks a significant shift by seamlessly integrating online and offline wholesale realms, poised to redefine the buying experience for over 20,000 independent retailers.
The partnership equips retailers attending Autumn Fair with access to Faire's extensive global network, enabling them to effortlessly peruse a diverse array of products, streamline procurement processes, and benefit from favorable 60-day payment terms. Additionally, Faire extends a generous 50 per cent discount on initial orders, facilitating smooth transactions both during and beyond the event.
Notably, exhibitors leveraging Faire's platform will enjoy enhanced visibility through inclusion in a curated collection on Faire's website, presenting an invaluable opportunity to showcase their offerings to a vast audience of global retailers. A strategic marketing campaign will further elucidate retailers and brands on optimizing the collaboration's myriad advantages.
This partnership is a response to evolving industry dynamics, where retailers increasingly seek the synergy between tactile, in-person engagements epitomized by events like Autumn Fair and the expansive reach and operational efficiency afforded by online platforms such as Faire. Katie Holmes of Autumn Fair exhibitor Sting in the Tail attests to the symbiotic benefits, emphasizing the newfound ease of conducting business and expanding market reach amid evolving market landscapes.
Charlotte Broadbent, UK Country Manager at Faire, underscores the collaborative ethos driving this initiative, emphasizing its potential to elevate sales for brands and streamline operations for retailers. Similarly, Jackson Szabo, Portfolio Director of Spring & Autumn Fair, underscores the partnership's capacity to enrich the retail landscape by fostering networking opportunities and granting access to diverse product offerings, empowering independent retailers to thrive amidst competition while preserving their distinct identity and community ethos.
In essence, the Autumn Fair-Faire partnership heralds a transformative chapter in retail procurement, heralding a harmonious convergence of traditional and digital wholesale paradigms to cater to the evolving needs of today's dynamic marketplace.
As per the observations at just concluded Fashion InStyle, the fashion industry is in the midst of a dynamic shift, driven by a focus on sustainability, diversity, and exciting global opportunities, . As consumer expectations evolve, leading brands are embracing these trends to stay ahead of the curve.
Inclusivity takes center stage
Diversity is no longer a niche concept; it's a core principle. Brands are increasingly recognizing the importance of representation in everything they do, from design and marketing to their workforce. This shift towards inclusivity reflects a desire for authenticity and relatable experiences. Consumers connect more with brands that champion diverse voices and influencers who embody these qualities. By embracing diversity, the industry not only fosters social progress but also unlocks new markets and expands its customer base.
Emerging markets fuel fashion's future
The global fashion landscape is no longer solely focused on traditional fashion capitals. The rise of middle-class consumers in emerging Asian markets presents a significant opportunity for international expansion. Savvy brands are tailoring their products and marketing strategies to resonate with these diverse audiences, positioning themselves for success in this ever-evolving market.
Tech revolutionizes the fashion experience
Technological advancements are playing a crucial role in shaping fashion trends. Artificial intelligence, data analytics, and digital platforms are transforming how brands design, produce, and market their products. These innovations allow for personalized experiences, streamlined supply chains, and deeper customer engagement. Fashion companies that leverage these tools effectively will gain a competitive edge and stay relevant in the digital age.
Sustainability and ethical practices take root
Environmental and social responsibility are no longer afterthoughts; they're at the forefront of the industry. Sustainability, ethical fashion, and gender fluidity are key trends reshaping the global market. This reflects a growing consumer awareness of the environmental and social impact of fashion, a demand for responsible practices, and a desire for inclusivity and self-expression.
Eco-Conscious fashion on the rise
The shift towards sustainability in fashion has gained significant momentum. Brands are prioritizing the use of eco-friendly materials like organic and recycled fabrics, along with adopting environmentally conscious manufacturing processes. This holistic approach to sustainability encompasses reducing environmental impact, promoting fair labor practices, and ensuring transparency throughout the supply chain. Ultimately, brands are striving to deliver stylish and innovative fashion while making a positive contribution to the planet and society.
Ethical fashion gains traction
Ethical sourcing and fair labor practices are no longer optional. Consumers are demanding brands that uphold fair wages, safe working conditions, and ethically sourced materials. Ethical fashion promotes responsible practices throughout the production cycle, encouraging brands to prioritize social impact alongside profitability. By embracing ethical fashion, brands demonstrate their commitment to a more equitable and humane industry.
Fashion embraces fluidity
Gender-fluid fashion is another progressive movement challenging traditional norms and promoting inclusivity. This movement offers clothing options that transcend restrictive gender stereotypes, empowering individuals to express themselves authentically, regardless of societal expectations. By embracing gender-fluid fashion, the industry fosters a more inclusive and representative environment, fostering acceptance and breaking down barriers.
Lenzing Group, a leading provider of regenerated cellulose fibers, has garnered acclaim for achieving exceptional results in the Higg Facility Social & Labor Module (FSLM) certification across five of its production sites. The certification assesses various social impact factors including wages, working conditions, and employee treatment.
This achievement underscores Lenzing's commitment to addressing social challenges within the textile industry, such as precarious working conditions and human rights issues along the value chain.
Transparency in the supply chain emerges as a crucial tool in tackling these challenges, with Lenzing aiming to obtain valid social standard certificates for all its production sites by 2024. Their success in the Higg FSLM audit, placing them in the top 25 percent globally, highlights their dedication to fostering better working conditions.
Christian Skilich, a member of Lenzing Group's Management Board, emphasizes their proactive stance towards social responsibility, asserting that their efforts extend beyond mere rhetoric. Florian Heubrandner, Executive Vice President Commercial Textiles, emphasizes the importance of transparently prioritizing social sustainability alongside environmental concerns to enhance business relationships.
Moreover, a study by the Society for Applied Economic Research underscores Lenzing's significant role as an employer, creating over 25,000 jobs across its operational countries, both directly and indirectly. This recognition further solidifies Lenzing's position as a socially responsible industry leader in the textile sector.
In a landmark move, Dutch Minister for the Environment Vivianne Heijnen spearheaded a collaborative effort with France, the Czech Republic, and Ireland, presenting a groundbreaking proposal titled ‘A Call for a European Sustainable Carbon Policy Package.’ This initiative, unveiled to the European Commission and industry leaders on April 16, 2024, marks the first-ever concerted effort by European policymakers to advocate for the defossilization of the chemical industry.
At the heart of the proposal lies the urgent need to transition from fossil-based to sustainable carbon feedstocks, echoing long-standing calls from industry associations for a level playing field in energy and fuel sectors. With over 90 per cent of the European chemical industry currently reliant on fossil feedstocks, the proposal underscores the imperative to embrace sustainable alternatives like recycled materials, biomass, and carbon dioxide.
Heijnen emphasized the necessity of an overarching EU policy framework to drive this transition, focusing on market creation, sustainable carbon availability, and enhancing industry competitiveness. Key stakeholders, including Katja Wodjereck from Neste and Marco Mensink of Cefic, voiced strong support for the initiative, advocating for incentivizing the use of sustainable carbon sources and aligning policies with circular economy principles.
The proposal signals a pivotal moment in European environmental policy, offering a clear pathway towards a competitive, climate-neutral chemical industry. As more member states rally behind this initiative, it presents a significant opportunity to reduce Europe's reliance on external resources while advancing sustainability and achieving net-zero targets.
Adidas CEO, Bjorn Gulden, expressed elation as the sportswear giant exceeded expectations in its first-quarter performance for 2024. The company reported a robust surge in sales, gross margin, and operating profit, outstripping initial forecasts. Notably, the direct-to-consumer (DTC) channels witnessed a remarkable uptick in full-price sales, driving down inventories and bolstering gross margins for both Adidas and its retail partners.
The stellar growth trajectory was primarily fueled by the Lifestyle segment, particularly buoyed by the exceptional performance of Originals footwear. Additionally, the higher-tier offerings in Running, Football, and Basketball contributed significantly to the company's upward momentum. Gulden emphasized the enduring demand for iconic footwear franchises like Samba, Gazelle, Spezial, and Campus, alongside the emergence of new favorites like SL72.
Despite persisting market volatility, Adidas sees progress across all fronts, leveraging enhanced brand resonance and improved sell-through to fortify partnerships with retail allies. Gulden reiterated the company's commitment to sustained investment in product innovation, brand elevation, and sales and marketing endeavors to drive continual growth. He underscored Adidas' relentless pursuit of excellence, acknowledging the ongoing journey toward optimization.
Looking ahead, Adidas eagerly anticipates capitalizing on the global sporting extravaganza, including the Euro 2024, Copa América, Olympics, and Paralympics, fostering an environment conducive to celebrating athleticism and camaraderie.
Financially, Adidas recorded a remarkable 8 per cent increase in currency-neutral revenues for Q1, propelled by robust brand momentum. Footwear revenues soared by 13 per cent, spearheaded by Originals and Football categories, while apparel sales witnessed a modest 2 per cent uptick. Lifestyle revenues surged impressively, driven by popular franchises and successful product launches across various segments.
The company's strategic focus on bolstering DTC channels yielded significant dividends, with a staggering 20 per cent growth in this segment. Strong double-digit growth in Own Retail and E-commerce underscored Adidas' prowess in navigating evolving consumer preferences.
However, challenges persist in the North American market, where a 4 per cent decline in sales was attributed to a conservative sell-in strategy amid lingering inventory concerns. Nonetheless, Adidas demonstrated resilience, posting robust growth in Europe, Emerging Markets, and Latin America.
Adidas' gross margin surged to 51.2 per cent, reflecting healthier inventory levels, reduced discounting, and a favorable business mix. Operating profit skyrocketed to €336 million, marking a substantial improvement from the previous year. Enhanced bottom-line performance translated into net income from continuing operations of €171 million.
Inventories witnessed a notable improvement, declining by over €1.2 billion year-over-year, indicative of successful initiatives aimed at inventory optimization. Furthermore, adjusted net borrowings witnessed a significant reduction, underscoring Adidas' commitment to prudent financial management.
Buoyed by its stellar Q1 performance, Adidas revised its full-year outlook, anticipating mid- to high-single-digit revenue growth and an operating profit of around €700 million. However, significant currency headwinds pose a challenge to profitability, necessitating strategic adaptations to mitigate adverse impacts.
Adidas remains steadfast in its pursuit of excellence, leveraging innovation, and strategic partnerships to navigate dynamic market conditions and sustain robust growth momentum.
Shoppers Stop, a prominent departmental store chain, has announced significant leadership changes in a recent regulatory filing. Kavindra Mishra, previously serving as executive director and CEO, now steps into the role of managing director and chief executive officer.
Mishra's appointment, effective from April 29, 2024, is slated for a three-year term pending shareholders' approval.
With a wealth of experience, Mishra previously held positions such as chief commercial officer and CEO - Homestop within the company. Before joining Shoppers Stop, he served as the managing director and CEO of House of Anita Dongre and Global Desi.
Furthermore, the board of directors approved the appointment of Ashish Hemrajani as a non-executive independent director for a term of five years. Hemrajani, renowned as the founder and CEO of BookMyShow, brings substantial expertise in the online entertainment realm.
Additionally, Purvi Sheth joins as an (Additional) non-executive independent director, while Nirvik Singh assumes the role of (Additional) non-independent director non-executive, both for 5-year terms.
In March 2024, Sri Lanka’s apparel exports increased by 7.7 per cent over the previous year to $148 million.
As per the preliminary data from the Joint Apparel Association Forum (JAAF), this robust rebound propelled the country’s apparel exports beyond the $1 billion mark for the first quarter, reaching $1.17 billion. Although this reflects a marginal decrease of 0.7 per cent from the same period last year, it signals a significant recovery from the challenges faced in 2023, when exports declined by 19 per cent to $4.5 billion from their peak of $6 billion in 2022.
Industry analysts attribute this resurgence in exports to improved market conditions.
In March, Sri Lanka’s apparel exports to all major markets increased, with the exception of the United States, the industry's largest market. This is despite a 6 per cent increase to $65.4 million recorded in February.
Exports to the US declined by 2.81 per cent to $147.75 million, while exports to the EU (excluding the UK) increased by 5.62 per cent to $124 million. Meanwhile, exports to the UK expanded by 11.93 per cent to $66 million, and exports to other countries spiked by 34 per cent to $80.72 million. Over the first quarter of 2024, overall exports to the US decreased by 5.11 per cent to $446 million, and exports to the EU (excluding the UK) dipped by 1.5 per cent to $339 million.
However, exports to the UK saw a notable uptick of 9 per cent to $183 million, and exports to other countries also showed a promising increase of 3 per cent to $207 million compared to the first quarter of the previous year.
Mayer & Cie will unveil two of its latest innovations at the upcoming ITM in Istanbul, booth 303 B, Hall 3. The two machine types to be unveiled by the company at the exhibition include the SF4 3.2 III and the Relanit 3.2 HS II, alongside smart solutions enhancing circular knitting efficiency.
Renowned for its productivity and energy efficiency, the Relanit 3.2 HS II receives upgrades including a new yarn guide for easier threading and improved needles and sinkers developed in collaboration with Groz-Beckert, reducing downtime and enhancing performance.
Addressing market demands, the SF4-3.2 III caters to lightweight elastic three-thread fleece fabrics, boasting exceptional plating capabilities and quality. Both machines feature the new Control 5.0 machine control system, offering SmartControl for operators and ClassicControl for knitting mill managers, enhancing operational efficiency.
Mayer & Cie introduces knithawk, an optical defect detection tool, preventing knitting errors early in the process, conserving resources and minimising wastage. Additionally, the company offers machine-specific upgrade kits and conversion kits for existing machines, expanding their capabilities at a fraction of the cost of new purchases.
The Senso Blue RS lubrication system, available for retrofitting, ensures precise oil application, reducing consumption by up to 20 per cent and achieving a recycling rate of up to 40 per cent, enhancing sustainability.
Mayer & Cie's commitment to innovation and sustainability extends to its service portfolio, which now includes braiding machines for specialised applications.
With a rich history dating back to 1905, Mayer & Cie continues to lead the circular knitting industry, generating around €100 million in sales in 2023 with approximately 450 employees worldwide.
