Victoria's Secret plans to relaunch its annual fashion show in the metaverse. As per a Business Insider report, the lingerie giant filed a trademark application with the US Patent and Trademark Office to sell virtual goods such as clothing, undergarments, and footwear. The brand also plans to trademark virtual goods and entertainment services such as photos, images, videos, and recorded footage to use in virtual fashion shows.

Victoria's Secret is among major brands such as Nike and Adidas to be filing patents to protect their brand in the metaverse. The brand plans to bring its fashion show back in some form in the future but hasn't confirmed what that would look like or when it will happen. However, the new show will not feature the scantily dressed models, who walked its show for years and were abandoned in June in favor of a new group of spokeswoman.

Seams and The ReshoringInitiative, who participated in the ‘Made in USA/Reshoring’ panel at the Sourcing at MAGIC event in Las Vegas, announced nominations for the third Annual Sewn Reshoring Award.

The panel discussion focused on steps companies can take to increase their efforts with reshoring production for Made in the USA. Harry Moser, President, The Reshoring Initiative and Will Duncan, Executive Director, Seams participated in the panel.

This prestigious award is open to all companies that have successfully reshored the sewing of any product to the US, accelerating the Made in America movement. Eligibility for this award must include production reshoring from offshore back to the U.S. or represent new production that has taken market share from imports between January 1, 2017 and June 30, 2022. There will be awards for three industry categories: cut and sew manufacturers; brands/OEMS/vertical retailers; and textile providers (products produced in the United States). Relevant companies for any sewn products are encouraged to apply.

Global leader in developing innovative fiber and technology solutions, The Lycra Company has launched the Lycra® Dual Comfort technology for ready-to-wear (RTW) and wovens range. The technology will help the company provide garments with functional performance benefits and sustainable features.

Lycra® Dual Comfort technology combines comfortable stretch and cooling comfort with long-lasting shape retention. Its Lycra® T400® fiber resembles spun yarn in texture and appearance. It offers low-impact, comfortable and versatile garments with thermal comfort. The technology offers all-day comfort to consumers as garments are able to hold their shape throughout the day. The technology also helps keep the consumer cool and dry. Its fibers contain both recycled and renewable content for reduced impact.

The technology is the perfect solution for the emerging ‘new utility’ trend that blends rugged performance with tailored elegance.

In its Q3 FY22 ended December 2021, India's leading compact cotton yarn manufacturer, SVP Global Textiles’ net profit grew by 23.87 per cent to 41.23 crore as against a net profit of Rs 33.29 crore recorded in Q3FY21. The company’s EBITDA for Q3FY22 grew by 11.62 per cent to Rs. 94.66 crore compared to EBITDA of Rs 84.81 crore in Q3FY21. Income from operations grew 9.75 per cent in Q3FY22 to Rs 406.69 crore.

The company is setting up a 4,375 mtpa Greenfield facility for technical textiles at Jhalawar, Rajasthan, with an investment of Rs 100 crore. It recently changed its name to SVP Global Textiles from SVP Global Venture. Foray into technical textiles is also going as planned and it hopes to achieve 25-30 per cent revenue growth post completion of the expansion plans.

Established in 1898 by VallabhPittie, SVP Group manufactures polyester, polyester and cotton blend, and 100 per cent cotton yarn across three state-of-the-art manufacturing facilities in Jhalawar (Rajasthan), Ramnad (Coimbatore) and Sohar (Oman). The company aims to become a world-leading, fully integrated textile company in manufacturing yarn, fabric and garments.

In Q3 FY2022, denim manufacturer, R&B Denims posted a 19.75 per cent growth in net profit to Rs 6.5101 crore against a net profit of Rs 5.4366 posted during the second quarter ended September 30, 2021. The company’s income during the quarter grew by 24.18 per cent to Rs. 81.2630 crore compared to Rs. 65.4417 crore during the period ended September 30, 2021.

For the fiscal ended December 2021, R&B denims posted a 22.99 per cent growth in net profit to Rs 6.5101 crore against profit of Rs 5,2932 crore posted in the during the fiscal ended December 31, 2020. The company’s income grew 32.56 per cent to 81.2630 crore during the fiscal against an income of Rs 61.3019 crore during the fiscal year ended December 31, 2020.

For the fifth consecutive time, Calvert Research & Management has included PVH in its list of Barron’s 100 Most Sustainable Companies. As per a Bakersfield report, analyst ranked the company fifth while it ranked first in the apparel retail category. The company strives to continuously improve through inclusion and diversity, sustainability and strong governance. PVH focuses on sustainability as the core of its multiyear plan and strives to improve in the area, says Stefan Larsson, Chief Executive Officer. However, it needs to step up efforts to achieve Forward Fashion targets, reduce negative impacts to zero, increase positive impacts to 100 per cent and improving lives across our value chain.

Developed by Calvert Research & Management, Barron’s 100 Most Sustainable Companies ranking first rated top 1,000 largest publicly traded companies by market value before analyzing and ranking these companies in 230 ESG (environmental, social, and governance) performance indicators.

LVMH's top fashion brand, Louis Vuitton plans to raise global prices to offset increased manufacturing and transportation costs. Price rise will affect Louis Vuitton stores selling leather goods, fashion accessories and perfumes worldwide. Chinese social media bloggers estimate, prices of few handbag models such as Capucines would rise by 20 per cent or more in China. Website tracking the luxury market, PurseBop speculates, the increase would range between 4 per cent on the lower end and 15-18 per cent on average on the higher end.

Luxury goods companies have been leveraging the benefits offered by the COVID-19 pandemic by increasing the prices of high-end fashion items and accessories. Chanel increased prices on some of its handbags three times last year, with the price of the Classic Flap bag increasing by over 60 per cent since the beginning of the pandemic.

Japanese clothing and footwear brand Asics, has reported 121.8 per cent increase in operating profit to €83.1 million during the year ended December 2021 compared to the same period a year earlier. The brand’s revenues grew by 13.7 per cent across Europe, Middle East and Africa (EMEA) region.

The brand has attributed growth to surge in revenues from wholesale and online channels. Its e-commerce revenue across the EMEA grew by 16 per cent during the year compared to 2020. Asics’ wholesale sales across the EMEA region surged by 13 per cent year-on-year, with 27 per cent increase in Italy, 19 per cent in Germany, 16 per cent in France and 18 per cent in South Africa. Founded in 1949, Asics’ products include footwear, clothing and accessories.

Jennifer Sey, Brand President, Levi Strauss & Co has resigned from her post after being forced to quit her job for voicing her opinion that schools should remain open during the COVID-19 pandemic. Sey spent around 23 years in the company, serving as its global brand president since 2020.

Since the beginning of the pandemic in 2020, Sey has vocally opposed the US public schools’ closure mandate, writing op-eds, appearing on local news shows and organizing rallies in support of keeping schools open. As her views went public, Sey alleges the company’s head of corporate communications, its legal and HR departments and Bergh warned her that she should reflect on her statement.

Her responsibilities would be fulfilled by Seth Ellison, Executive Vice President and Chief Commercial Officer on an interim basis.

Cambodia's garment, footwear and travel goods exports increased by 15.2 per cent in 2021, indicates a report by the General Department of Customs and Excise. As per The Star, the country exported products worth $11.38 billion last year, against $9.88 billion exported in previous year. Garment, footwear and travel goods industry comprises roughly 1,100 factories and branches besides employing approximately 750,000 workers, according to the Labor Ministry.

Buoyed by the expected rise of global demand and foreign investors' confidence, Cambodia’s economy is projected to grow at a higher rate of around 5.6 per cent in 2022. The economy is projected to have grown by 3 per cent in 2021 after a contraction in 2020. Cambodia has so far administered at least one dose of COVID-19 vaccines to 14.37 million people, or 89.8 per cent of its 16 million population, according to its Health Ministry. Nearly 13.8 million people, or 86.2 per cent of the population, have been fully vaccinated with two required shots, and 5.97 million, or 37.3 percent, have taken a third dose or booster shot, said the ministry.