Prada’s sales for the third quarter grew 18 per cent, this marks an acceleration from the eight per cent growth rate of first half year. Prada is aiming at a 40 per cent revenue growth. The Italian luxury group will do this by boosting online business and profitability of physical stores.

The family-owned group, which in recent months has been reaping the fruits of a strategic revamp, targets an operating profit of 20 per cent of total sales, more than twice the 2019 level. It also aims to double the proportion of online sales to 15 per cent of retail revenues over that timeframe. The group's strategy focuses on direct distribution to increase store productivity and online penetration. It had close to zero debt at the end of the third quarter, and profitability had further improved over the period. Last year, due to shop closures and lack of tourism, Prada’s sales fell to €2.4 billion. The global health emergency last year interrupted two years of sales recovery at Prada, the result of a revamp plan focused on boosting e-commerce and sticking to full-price sales. Like the rest of the luxury sector, the group started to see the first signs of a rebound last summer.

The United States is looking to increase its cotton exports to Bangladesh. To strengthen US foothold in Bangladesh's market, US exporters and their representatives put an emphasis on resolving issues, such as the obligation to fumigate US cotton after imports, not being able to send cotton-laden ships directly to Bangladesh in the absence of a deep seaport, a hike in shipping costs and other logistics costs. A three-member delegation from Cotton Council International (CCI), a non-profit trade platform that promotes US cotton, is currently visiting Bangladesh as part of the country's effort to further increase the US cotton export to Bangladesh.

Bangladesh is the world’s second largest importer of cotton, a key clothing raw material. The country would like US-cotton made garments to be given duty-free access to Bangladesh’s markets. US exporters have been asked to send cotton directly from transshipment ports, such as Sri Lanka, Malaysia or Singapore, so that shipments can reach within 30 days.

Bangladesh’s spinning industry is heavily dependent on imported cotton. Many factories are now making new investments in setting up spinning facilities because of growing demand for yarns in Bangladesh, leading to the inclusion of about two million new spindles to the existing production capacity in the next two years. So the country will have to import an additional two million bales of cotton. Mills and manufacturers in Bangladesh trust US cotton because of its quality, sustainability, transparency, innovation and value. Meanwhile, as per BTMA President Mohammad Ali Khokon, they have unofficially demanded that US-cotton made garments be given duty-free access to the country's market.

Pitti Uomo will be held in Milan from January 11 to 13, 2022. The menswear show expects 600 exhibitors and buyers from the world’s leading multibrand retailers and department stores are expected. The organisers have opted for prudence and will feature again the streamlined concept tested last season when Pitti Uomo staged a comeback to physical session after being on hold for a year due to the pandemic. They are also planning to adopt the same health protection measures which were in place at the end of June, with six stations offering Covid testing and strict monitoring of all access, which will be possible only for Covid-pass holders.

Pitti Uomo believes the 101st edition can mark a new departure, and has chosen as seasonal theme and slogan ‘Pitti Reflections’, playing on the twin meaning of the verb to reflect both mirroring and thinking. The focus will be on how the traditional men’s wardrobe has evolved, with its most classic items, suitably reinterpreted, making a remarkable comeback in-store. Futuro Maschile will be part of the Fantastic Classic section, dedicated to formal wear, placed alongside two other key areas of Pitti Uomo: Dynamic Attitude, showcasing sportswear brands, and Superstyling, which will host emerging labels, with a specific sub-section called sustainable style dedicated to young designers big on sustainability.

VF Corporation has published its third Inclusion, Diversity, Equity and Action (Idea) annual profile. Covering the company’s fiscal year 2021, the report defines the key strategic pillars that serve as the drivers and benchmarks for VF’s Idea goals.

By 2030, VF Corp intends to achieve gender parity at the director level and above globally, and 25 per cent BIPOC (black, indigenous and other people of color) representation in the US at the director level and above. During fiscal year 2021, VF saw growth against both goals, with those who identify as women comprising 41 per cent of the director and above population globally, and BIPOC associates representing 16 per cent of the director and above population in the US.

VF Corporation is a global leader in branded lifestyle apparel, footwear and accessories. At the end of fiscal year 2021, the overall representation of women globally across all levels of VF’s workforce was 55 per cent. Similarly, BIPOC associates within the US across all levels, was also at 55 per cent. In addition, during fiscal year 2021, one-third of the company’s board of directors identified as women and 17 per cent identified as a member of the BIPOC community.

Cotton production in India during the current season is projected to reach 362.18 lakh bales, as per estimates of Committee on Cotton Production and Consumption.With an opening stock of 73.20 lakh bales and imports of 10.50 lakh bales, total availability this season is likely to be 445.88 lakh bales as against 485.66 bales the previous season. The demand from textile mills, including small-scale units, is estimated at 322 lakh bales, and exports are pegged at 45 lakh bales. Exports in the 2020-2021 season were almost 73 lakh bales.

Last season’s consumption by textile mills was lower than the estimate due to Covid. Hence, the opening stock for current season may be higher. Cotton position is expected to be comfortable this season. Textile mills may wait for bulk arrivals to pick up and not rush into purchases now. A candy of the Shankar-6 variety of cotton is priced at Rs.66, 200.

Out of India’s total cotton exports, 40 per cent goes to China. Similarly China has a 28 per cent share in India’s yarn exports. In cotton and cotton yarn, Vietnam is the third largest importer for India. India’s cotton exports may witness a temporary slowdown as the spread of coronavirus is likely to curtail demand for the fiber.

Consumers are craving new clothes that bring joy after a year of lockdowns, says Lyst Year in Fashion report. Searches for bright, bold colorful pieces, specifically in hot pink, orange, yellow and green, spiked 191 per cent; demand for bold jewelry, specifically colorful, beaded, rainbow and resin, has soared as much as 545 per cent. Short hems were one of the fastest-rising trends in 2021. Searches for mini skirts and dresses jumped 221 per cent year on year. Global searches for high heels and disco heels have spiked 233 per cent. Influencer events also returned and impacted fashion searches and purchasing behavior.

Another return to near-normality was the migration back to offices worldwide in the second half. Many workers turned to a more relaxed, smart-casual version of the corporate-appropriate uniform. Demand for oversized suits has jumped 109 per cent compared to last year, while wide-leg pants were in high demand, increasing by 87 per cent.

Among the most wanted products are Levi’s loose fit jeans, the Rolex Submariner watch, Bottega Veneta’s mini Jodie bag, Birkenstock Boston clogs, the Thom Browne black pleated skirt, Nensi Dojaka’s asymmetric mini dress, the Prada crochet bag, the Jacquemus La Maille Pralù cardigan and the Pangaia hoodie.

For the third quarter Asics recorded a 29.8 per cent rise in sales. Asics is a Japanese sports apparel and footwear producer. The sports equipment brand’s e-commerce sales during the quarter recorded a 12 per cent rise in North America, 47 per cent in Europe, and 23 per cent in China.

Sales of performance running category grew 38 per cent due to strong sales in all regions and the core performance sports business jumped 29.7 per cent. Sports style sales escalated 19.5 per cent while apparel and equipment sales climbed 18.6 per cent with strong sales in Japan, North America and Europe. Moreover, Onitsuka Tiger’s sales grew 19.5 per cent due to strong sales in China and southeast and south Asia.

Asics along with No New Folk Studio is developing smart running shoes that give runners real time feedbacks on the changes in their foot movement. No New Folk specializes in the design of artificial intelligence applied to sports shoes. Foot movement data, including number of steps /distance, cadence, and angle of ground contact, are collected and together with biomechanics expertise are analyzed to provide runners feedbacks on gait analysis, including step length and foot strike pattern.

Sports trade show Ispo Munich will not be held from January 23 to 26, 2022, as originally planned. Instead, as per the new schedule from now on, Ispo Munich will be held permanently at the start of winter season, at the end of November. OutDoor by Ispo will move forward permanently from late June to late May/early June. This means Ispo Munich 2022 will take place from November 28 to 30, 2022. The new date for OutDoor by Ispo is June 12 to 14, 2022.

The permanent shift in dates is a strategic decision due to the far-reaching market changes of recent years. Industry and trade are facing major upheavals in the global supply chain, which has changed order cycles. An Ispo Munich scheduled in January or February, as was previously the case, would therefore, be too late for many industry participants.

The permanently brought-forward date for OutDoor by Ispo also fits in much better with the new order cycles. The permanent date adjustment is intended to give the trade fairs even more relevance and a completely new significance as an important source of impetus for both the entire industry and the end consumer. The dates, which are now located at the beginning of the industry-specific order cycles, are intended to provide exhibitors and trade visitors with an earlier overview of the market.

As per an Allied Market Research study, global denim fabric market is growing at 4.4 per cent. So says Allied Market Research. Availability of denim fabric at affordable prices and new socio-economic trends drive growth of the global denim fabric market. The emergence of biodegradable denim fabric presents new opportunities in the upcoming years.

At the same time, volatility in prices of cotton and environmental risks associated with the use of synthetic dyes restrain the market to some extent. The outbreak of the pandemic led to a global lockdown and the temporary closure of fabric production facilities, thereby affecting the overall growth of the global denim fabric market. It further disrupted the whole supply chain, leading to a rise in prices of raw materials, especially cotton and cotton yarn. This factor decreased the production of denim fabric, especially during the initial phase. In addition, the falling income of customers gave way to a contraction in the demand for premium denim products.

APAC contributed to the highest share in terms of revenue in 2020, holding nearly four-fifths of the total market share, and is estimated to continue its dominant share by 2030. The same region is also projected to manifest the fastest CAGR of 4.6 per cent during the forecast period.

The synthetic fiber and cotton industries have been witnessing a steady price since September. As per a CCF Group report, the polyester and cotton industries witnessed highest price rises during the period. The future indices of a few cotton varieties like the ZCE cotton futures rose by 22.4 per cent on October 11 compared with September 24. Prices of PTA and MEG varieties of polyester increased significantly, while that of China’s domestic and foreign cotton also surged prominently. Spandex prices remained stable after hitting a record high earlier this year.

Consumption boosts polyester prices

Rising consumption spurred global polyester prices. The market was also boosted by the reduced supply of PTA and MEG on account of dual control of energy consumption in China. Prices of PTA and MEG both rose to 500-600yuan/mt as crude oil and cotton prices surged and China introduced a dual control on energy consumption.

Cotton prices hike on higher seed prices

Driven by higher seed cotton prices in Xinjiang due to the harvest-rush, and rise of international cotton prices, cotton prices in China began to rise from September-end. Easing of relations between China and the United States and supply concerns caused by the rainfall in Texas and the hurricane in India, also boosted prices. China’s purchase of US cotton surged market prices of the yarn and cotton grey fabrics in China. Global supply chain concerns also surged during the period due to excessive rainfall in major cotton producing areas of US. In addition, Indian cotton production was impacted by the pest infestation and Hurricane Gulab.

Raw material costs drive VSF prices

Driven by a continued rise in raw material prices, VSF prices rose by the end of September. The prices also surged due to a decline in the operating rate of VSF plants amid short energy supply and continued increase of coal and caustic soda prices.

Spandex prices hit a new high

Spandex prices reached record heights of 106 per cent a year after the National Day holiday as new units of 100kt/year were launched in Q4. Currently, spandex prices in China have hit 13-year high, stabilizing prices for suppliers and reducing prices for some new units.

Filament makers catch up with upstream rise in costs

The prices of upstream CPL and nylon 6 HS chip prices were driven up by the quickly rising benzene cost and shutting down of a large number of nylon filament plants. Reluctant to sell at previously low prices, filament makers raised prices to catch up with upstream cost rise.

Domestic concentration in plant boosts acrylic fiber prices

Acrylic fiber prices also surged due to a gradual concentration in prices among the domestic acrylic fiber plants. Previously, based on Sinopec and Jilin Chemical Fiber, pricing right is currently based only on Jilin Chemical Fiber. Besides, producers are more willing to support prices leading to a surge in acrylic fiber prices.

A week before the National Day, prices in the cotton spinning and chemical fiber industry have also surged. These price increases are mainly attributed to two factors; cost concerns caused by the supply side, and current domestic dual control policy.