With domestic demand increasing, Bangladesh cotton imports from the US may increase 43 per cent Y-o-Y to one million bales in 2022-23, says US Department of Agriculture's Foreign Agricultural Service (USDA). Bangladesh’s overall cotton imports may increase by 2.3 per cent Y-o-Y to 8.9 million bales. Imports from India may grow to 29 per cent share in 2021. This will be followed by Brazil, Benin, and US.

Producer of minimum quantity of cotton, Bangladesh imports all its cotton needs from abroad. Cotton consumption is expected to rise 3.3 per cent Y-o-Y to 9.3 million bales of 480 lbs each. In CY 2021, Bangladesh's ready-made garment exports reached a record high of $35.8 billion, becoming second-largest exporter after China.

The upcoming editions of business-to-customer fashion and lifestyle shopping fair Adaah will be held in Gurugram and New Delhi this May. The fairs will feature all apparel, accessories, and jewelry brands from across the region. The Gurugram edition of Adaah will be held from May 5 to 6 at Courtyard by Marriott. The shopping fair will feature a mix of traditional, ethnic, fusion, and western wear. It will also showcase handbags, footwear, home décor, gift items, and handicrafts. It will give brands a platform to launch their summer collections and reach new bridge-to-luxury shoppers.

The New Delhi edition will be held from May 14 to 15, Adaah at WelcomHotel Dwarka. The fair will feature a similar brand selection to its Gurugram edition with a wide array of summer fashions. Adaah held two shopping fairs in Gurugram and Noida this April. The Gurugram event was held at the Apparel House from April 2 to 4 while the Noida event was held at Radisson Blu from April 8 to 9. The shopping fairs focused on spring fashion and bridal wear for the spring wedding season.

With sales and exports growing at a sustained pace, the EU clothing industry witnessed significant improvement in Q4 FY21performance. Most clothing companies in the region reached their pre-pandemic levels of growth during the quarter, says latest Euratex report. Clothing production surged 10 per cent during the quarter over Q4 FY20 while turnover increased 21.4 per cent. Retail sales during the quarter also rose 17.9 per cent

Pandemic-induced challenges slows textile growth

However, the textile industry expanded at a much slower pace. Though it recovered from the strong contraction in 2020, the industry failed to reach pre-pandemic levels. Textile production during the quarter increased 2.4 per cent from the Q4 FY20 while turnover increased 6.4 per cent. Retail sales in textile industry grew 17.9 per cent during the quarter. The pandemic slowed shipments besides disrupting global supply chains. This caused acute raw material shortages, affecting consumption patterns across the world. The textile and clothing industry also remained troubled by the constant rise in raw materials and energy prices.

The EU Business Confidence Indicator indicates 1.7 points decline in textile industry over the next few months. The decline is mainly attributed to energy-related challenges currently being faced by the industry. The clothing industry seems more optimistic with a 2.1 points rise in business confidence in the next few months.

Consumers’ confidence falters over future uncertainties

Managers’ confidence in both textiles and clothing remains higher than the long-term average and pre-COVID level in Q4 2019. However, consumer confidence has dropped, following the collapse in their expectations about the general economic situation and assessment of own future financial situation. Confidence of retailers has also dropped they failed to assess expected business situation. Their selling expectations for the next three months have reached unprecedented highs as energy and raw material prices have surged sharply in the last few months.

Kidswear imports by the United States grew by 21.34 per cent during January-February’22 to reach $485.48 million. Data from Apparel Resources shows, imports from China, India and Vietnam grew significantly while those form Bangladesh witnessed marginal growth.

US kidswearimports from China grew by 24 per cent Y-o-Y to $119.74 million in January-February ’22, growing 24 per cent on yearly basis, while the same valued $76 million from India as the shipment grew by 24.81 per cent on Y-o-Y basis.

Together, India and China constituted over 41 per cent of the US’ kidswear imports during the first two months.

After a 10 per cent decline in kidswear shipment to the US during January ’22, US’s kids clothing import from Vietnam grew by 20 per cent to reach$69 million in January-February ’22.

Bangladesh’s shipments to the USgrew by 4.37 per cent to $50.39 million during the said period.

Pakistan’s textile exports grew by 25.4 per cent Y-o-Y to $14.24 billion during July- March FY2022, as per data released by the Pakistan Bureau of Statistics (PBS).

In the month of March alone, textile exports grew by 20 per cent Y-o-Yto $1.63billion, on account of strong demand in the West before the summer season, while other factors include the resumption of economic activity, which has led to a shortage of various retail brands, competitive utilities and borrowing rates.

During July-March FY22, knitwear, bed-wear, readymade garments and towels exports also grew by 34 per cent, 19 per cent, 26 per cent and 18 per cent to $3.7billion, $2.05billion, $2.27billion and $692million respectively compared to the corresponding period last year.

According to a new report by Allied Market Research titled, ‘Western Wear Market by Type, Distribution Channel, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023,’ the global western wear market size is expected to grow at 4.8 per cent CAGR from 2017-2023 to reach $99,423 million by 2023.

As per the report, the rise in demand for western wear clothing has been fueled by rising disposable income and the proliferation of fashion e-commerce. It is also being fueled by an increase in the number of young people and a greater awareness of fashion among customers.Manufacturers are working with packaging businesses to develop new garment packaging, such as a biodegradable barrier tray, which is projected to boost market development in the near future.

Currently accounting for approximately one-third share of the total western wear market, Europe is expected to maintain its position during the forecast period. The Asia-Pacific market is likely to driven by developing lifestyle and rise in disposable income of consumers.

The newly signed Indo-Australia trade agreement and duty-free imports would help India gain high quality cotton produced by Australia, says PiyushGoyal, Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles

India has allowed duty-free imports of cotton until September 30, 2022. It is reported that the prices of cotton has increased due to a drop in the production. Goyaladds, the move will bring down prices benefitting customers.

This year is expected to be a milestone year for online fashion resale, with year-on-year sales growing 46.6 per cent to reach $15.50 billion. As per a emarketer report a number of companies, including Another Tomorrow, Cuyana, Moda Operandi, Target, and Urban Outfitters, have recently launched resale initiatives in partnership with technology provider Trove Recommerce, luxury bag and accessories reseller Rebag, or online consignment store thredUP.

Lululemon Athletica plans to expand its Like New Trade-in and resale program across the nation on Earth Day, April 22. Being launched after a two-state pilot run last year, the program allows shoppers to trade in Lululemon clothing such as pants, shorts, and jackets for a gift card. The retailer also sells gently used Lululemon items online.

Nearly 50 per cent millennials and 38.4 per cent of Gen Z shoppers consider sustainability important, says 2021 survey by MaCher. Growing discretionary incomes of younger consumers will drive the growth in online fashion resale in the coming years with resale platforms benefiting from flywheel effects. The survey projects annual average sales per buyer via online fashion resale marketplaces to more than double between 2021 and 2025.

Spinning mills in India plan to reduce production of lower counts yarn to cope with low availability of cotton. However, this may squeeze supply of thick yarn in domestic market and make fine yarn of higher counts more available. Cotton supply is not expected to improve till October this year despite the government removing the 11 per cent import duty on cotton. This is attributed to lower production in the last season and declining supply in mandis. Cautious buying by weavers and garment manufacturers is also slowing yarn demand in India. But prices are unlikely to decline as supply will be lower, say experts.

Given this scenario, spinning mills will focus on producing thinner yarn of higher counts. This will enable them to continue production by limiting consumption of cotton in off-peak season of arrival.

Future yarn prices will be determined by the demand from the weaving and garment industry, say industry sources. Currently, mills and stockists are facing demand-supply gap in yarns of various counts as yarn of demanded counts is unavailable at times and yarn of few counts is over supplied amid lower buying. This gap in yarn is expected to continue for a little while more.

Nike has been ranked as the most valuable apparel brand in the world by Andrew Petcash, Sports Entrepreneur and former basketball player. Petcash has made a detailed Twitter thread about Nike becoming the world's most valuable apparel brand with a value of $33.2 billion. Many of the NBA's best athletes are represented by Nike, he says. It has become the most popular brand among NBA players. Even the jerseys of every NBA team are provided by Nike, Petcash says.

Despite not having played in the league for 20 years, Michael Jordan has nearly $100 million of investments on him. The Jordan Brand has become one of the most popular subsets of their brand, adds Petcash. Other than MJ, LeBron and KD are also some of the endorsed athletes with big investment sums thrown behind them, he adds. With Nike being represented by players like Ja Morant, Zion Williamson, and Cade Cunningham, its associated with NBA has been secured for a long time.