Uzbekistan’s Generalised System of Preferences Plus (GST+) status has been extended for four years by the European Union with the country’s GSP+ status now ending on December 31, 2024. 

The initiative encouraged around 628 enterprises in Uzbekistan to export local products worth $647 million. They exported textile industry products worth $177.4 million to the EU markets.

The extension also enabled Uzbek exporters to save €28 million in import duties and grow their private sector tenfold between 2019 and 202.

At a recent press conference, European Union Monitoring Commission GSP+, appreciated the progress made by Uzbekistan in implementing the UN conventions by introducing new laws on women's rights and gender equality, combating violence, improving economic and social rights.

The beneficiary status of the GSP+ also enables Uzbekistan to expand trade and economic relations with European business representatives besides creating new jobs in the country. 

The Denim Futures campaign was launched last week by the Fabrica X, the Hong Kong based store operated by The Mills Fabrica. Through this campaign, the store gives consumers a glimpse of the entire fashion supply chain. 

Including an upcycling workshop, 3D digitalisation and opportunities to touch and feel new material innovations, the campaign features Unspun’s 3D body scanning, Renewcell’s biodegradable raw material Circulose and Circ, a chemical recycling technology that can recycle polycotton. 

It offers consumers denims curated by sustainable and future-focused brands like Story Wear, MATO, Sophie Hawkins and Klee and Klee,. 

Customers can also purchase from brands include Story Wear, a Taiwanese social enterprise that upcycles denim waste by skilled makers from disadvantaged backgrounds; MATO, a Hong Kong brand that combines traditional Japanese dye and stitching techniques; Sophie Hawkins, a London-based designer who uses circular manufacturing to produce jumpsuits; and Klee Klee, a Shanghai low-impact denim brand.

Supported by Lenzing, Levi’s and Advance Denim, the campaign will run for eight months. 

In a letter to Chattagram Custom House Commissioner, Syed Nazrul Islam, Senior Vice President, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) urged customs authorities to make the clearance process more lenient by not imposing large fines.

This will help garment manufacturers address financial setbacks, Islam added. Fines imposed by the customs not only delay the permission process for product exports but also force garment makers to engage in expensive garment shipments to meet tight deadlines, he added further. 

Islam further emphasised on the need for streamlining the export process, especially after the submission of the bill of export.  He noted, Bangladesh’s garment exports declined by 13.90 per cent in October due to global economic slowdown.

Retail chain C&A plans to launch 100 new stores across Europe over the next three years, reveals, Carslen Hom, Head-Germany. 

The company will launch these stores across Romania, Poland, Italy, and key German cities like Hamburg, Berlin and eastern regions. It also plans to open stores in Madrid, Amsterdam, Paris, and Milan in 2024.

C&A has already modernised about 75 per cent of its existing stores. The retail chain has over 1,300 stores across 17 countries with nearly 400 of them in Germany. It recently launched new stores in Hamburg, Heilbronn and Singen. 

Brands operated by the retail chain include Angelo Litrico, Avanti, Clockhouse, Here+There, Palomino, Rodeo (ski and snowboard clothes), Westbury, Yessica, Yessica Pure, and Your Sixth Sense.

The upcoming Copenhagen Fashion Week (CPHFW) AW 24 edition, scheduled from January 29 to February 2, 2024, is set to feature approximately 31 brands. Carefully selected by the Show Committee and Sustainability Committee, these brands were chosen based on both fashion design criteria and a holistic perspective of the entire value chain, aligning with CPHFW's 18 Minimum Standards.

This edition will kick off with a show by CPHFW Newtalent in collaboration with Circulose bursary recipient Nicklas Skovgaard. Supported by Circulose, the CPHFW Newtalent initiative aims to bolster emerging Nordic brands with less than five years in business. Notable brands benefiting from the scheme this year include Rolf Ekroth, Nicklas Skovgaard, Alectra Rothschild/Masculina, and Stamm.

Additionally, three brands—Martin Quad, Sloth Rousing, and MLGA—will be recognized as 'One To Watch For' in this edition. These brands will receive financial support, mentorships, partnership offerings, professional advice, an opportunity to engage with alumni at the event, and extensive PR exposure through CPHFW's international community and channels.

Projections from the Vietnam Textile and Apparel Association (VITAS) suggest that the country's textile and apparel exports are anticipated to contract 9 per cent this year, reaching $40 billion. Vu Duc Giang, Chairman of VITAS, points out Vietnam faced numerous challenges in its textile and apparel sector in 2023, including the impact of the COVID-19 pandemic and an excess accumulation of inventory.

Despite the expected decline in exports, Vietnam aims to maintain a robust export turnover, having expanded its export destinations to encompass 104 new countries and territories in 2023. VITAS highlights the four primary importers of Vietnamese textiles and garments in 2023, led by the United States with a turnover exceeding $11 billion, followed by Japan with a turnover of $3 billion, the Republic of Korea with $2.43 billion, and the European Union with $2.9 billion.

In response to market dynamics, Vietnamese producers are planning to diversify their export portfolio by incorporating 36 different types of products.

Nairobi is ready to host the maiden International Textile Machinery Exhibition (ITME) Africa & ME 2023, organized by India ITME Society and co-organized by SDA Bocconi and the Indo-Italian Chamber of Commerce and Industry (IICCI).

Scheduled from November 30 to December 2, 2023, at the KICC in Nairobi, Kenya, this event marks a significant milestone, connecting the global textile industry to Kenya and Africa's growing textile technology and engineering sector.

Designed as a prime platform for textile manufacturers, exporters, dealers, entrepreneurs, and investors, ITME Africa 2023 is expected to draw approximately 60 exhibitors from India, 9 companies from Italy, 24 Chinese companies, and participants from Turkey, Egypt, Kenya, Germany, Austria, Ethiopia, and Taiwan.

The event will feature a series of technical sessions, including discussions on high-quality cotton cultivation and optimal spinning techniques. Eminent speakers such as Jas Bedi of KEPSA, Richard Cheruiyot of EPZA, and Naveen Joon of Exim Bank India will lead these discussions. Attendees will also have the opportunity to connect with key organizations such as the Export Processing Zone Authority (EPZA), KenInvest, Gatsby Africa, Kenya National Chamber of Commerce & Industry (KNCCI), and Fashion Agenda Africa (FAA).

Concerns regarding holiday-quarter sales from major retailers have overshadowed the positive third-quarter results and annual forecasts of Abercrombie & Fitch and American Eagle Outfitters (AEO). Abercrombie & Fitch saw its shares decline approximately 8 per cent, while AEO experienced a more significant decrease of 17 per cent.

Retailers attribute this downturn to cautious spending by consumers amid rising inflation and surging interest rates. Major players like Best Buy, Kohl’s, and Lowe’s have all reported lackluster quarterly results. Rachel Wolff, Senior Analyst at Insider Intelligence, notes this trend has led investors to question retailers' ability to sustain their growth figures.

Analysts at Citi Research anticipate Abercrombie's net sales during the fourth quarter to align with market expectations, with the brand projecting a low-double digit net sales growth of 11.6 per cent, according to LSEG data.

In contrast, AEO expresses optimism about holiday-quarter sales, anticipating them to surpass market expectations. The brand expects fourth-quarter revenues to increase in high single digits, a notable improvement from the earlier estimate of 3.64 per cent.

While seeking fresh investments for high value-added apparels, Faruque Hassan, President, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged Chinese garment manufacturers to avoid relocating old factories to Bangladesh. Chinese garment manufacturers plan to supply their design and technologies to Bangladeshi apparel suppliers, he notes.

However, relocation of old Chinese garment factories will prove to be detrimental for the Bangladesh industry due to low machine capacity. The machines used in Bangladesh garment units have higher production capacities and are environment-friendly, he adds.

In the third quarter of fiscal year 2024, the revenues of US-based fashion brand Guess Inc saw a 3 per cent increase, reaching $651.2 million compared to $633.4 million in the same quarter of the previous year. Adjusted for constant currency, the revenue increase amounted to 1 per cent. Guess experienced a 6 per cent increase in revenues in the European market in US dollars, with a 5per cent rise in constant currency. The brand also reported an 8 per cent surge in US dollars and a 7 per cent increase in constant currency in retail comparable sales.

However, the retail segment in Americas reported a 7 per cent drop in revenue and an 8 per cent decrease in constant currency. Retail comparable sales, including e-commerce, declined by 5 per cent in both US dollars and constant currency in the region. Wholesale revenues in the Americas increased by 4per cent in US dollars but decreased by 1 per cent in constant currency.

In the Asian market, Guess saw a 2 per cent increase in revenues in US dollars, while remaining flat in constant currency. Retail comparable sales, including e-commerce, decreased by 8 per cent in US dollars and 9 per cent in constant currency. Licensing revenues rose by 19per cent in both US dollars and constant currency. Guess' GAAP and adjusted operating margins increased to 8.4 per cent and 8.9 per cent, respectively, during the quarter, as highlighted by Carlos Alberini, the CEO.