Crocs expects full year revenue growth of between 60 to 65 per cent compared to 2020. During its third quarter, the shoemaker expects revenue growth between 60 and 70 per cent compared to last year’s third-quarter revenues. Crocs reported adjusted earnings per share of $2.23, which beat analyst expectations. The shoemaker also reported record revenue of $640.8 million.

Crocs’ sales boomed during the pandemic as consumers seek more comfortable footwear. Its stock has grown more than 90 per cent year-to-date. The shoemaker has also committed to transition to net-zero emissions by 2030 and has raised its full-year revenue guidance amid strong global demand despite supply chain disruptions caused by the Covid-19 pandemic.

Revenues in the second quarter grew 93 per cent. The company’s digital sales grew 25.4 per cent to represent 36.4 per cent of revenue, compared to 56.1 per cent a year ago. Croc’s sandals sales rose 57 per cent during the second quarter after going up 17 per cent in the first quarter. The company also saw digital sales grow 99 per cent compared to 2019. Direct-to-consumer sales grew 78.6 per cent compared to last year, and 86.4 per cent compared to 2019, representing 52 per cent of second-quarter revenues. Crocs has had an eight per cent increase in its average selling price during this quarter. This has been attributed to higher pricing and a favorable product mix.

Fashion brands and buyers in the United States are eager to increase sourcing from Bangladesh over the next two years. They find the prices of apparel and textile products in Bangladesh to be lower than global average prices. The ‘2021 Fashion Industry Benchmarking Study’ conducted by the United States Fashion Industry Association revealed the unit price of apparel products in Bangladesh was $2.5 in July-May of this year while the global average price was $2.6 in the period. ‘Consistent with the survey results from 2017 to 2020, respondents this year again say Bangladesh offers the most competitive price, followed by China, Vietnam, Indonesia, India, and Cambodia,’ the USFIA said.

Though China offers more competitive prices than Bangladesh, US buyers want to diversify their sourcing away from China and Vietnam to avoid placing all eggs in one basket and mitigate various sourcing risks. The US-China tariff war has exacerbated sourcing cost pressures and financial challenges facing US fashion companies during the pandemic. Because of the tariff war, US fashion companies have had to pay an average 23.4 per cent import duty rate for apparel imports from China in 2020, which was much higher than 16.5 per cent back in 2017.

Diversifying the export product structure and improving production flexibility and agility will be critical for Bangladesh to play a more significant role as an apparel sourcing base for US fashion companies in the post-Covid world. This emerging trend implies that competition among the thousands of Bangladeshi apparel suppliers will intensify. While competitive suppliers will benefit from more sourcing orders, smaller and less competitive ones could become more vulnerable. Bangladesh is believed to offer the most competitive price, followed by China, Vietnam, Indonesia, India, and Cambodia.

Vietnamese companies have not made headway with several orders due to Covid-19 related complications.

The stay-at-home mandate under the prime minister’s directive 16 has significantly affected firms’ operations. They expect a probable shift of orders to other countries. Textile-garment makers in the southern localities have had to suspend their operations due to the resurgence of the coronavirus, thus making it tough to commit to business partners and, consequently, creating concerns among business partners about the disruption of their supply chain.

Some international garment brands have also sought permission to make payments in two or three months or even six months. This is beyond the original financial plans of local textile and garment firms. If local textile makers accept the request, they would face obstacles in rotating capital, as the access to long-term loans offered by local banks is currently challenging and risky. If they refuse the request for late payments, these brands would seek new business partners in other countries.

Exports of the local textile-garment industry in the first half of this year improved 21.27 per cent compared to the same period last year and up 4.23 per cent against the 2019 figure. Of this, the number of textile-garment items shipped to the European Union rose 4.85 per cent versus last year’s figure.

At least eight companies from Europe and the US, who used to buy home textiles from Pakistan and China, have started doing business with Bangladeshi exporters in the last six months. Some buyers do not get products as per their demand from Pakistan and China. Bangladeshi exporters have attracted them with quality products at a competing price and on-time delivery. The use of home textiles has seen an increase across the world as people are staying home for longer periods during the pandemic. According to Bangladesh Terry Towel and Linen Manufacturers and Exporters Association (BTTLMEA), the eight new buyers that have started business with Bangladesh in the last six months include the well-known Standard Textile in the United States.

Most factories in Bangladesh export medium and general quality home textile items. However, some companies export relatively high-priced home textile items. Towels account for 40 per cent of Bangladesh’s total exports and bedding around 50 per cent. Bedding includes bed sheets, pillows and cushion covers. The type of home textiles that Bangladesh exports, including towels, is made mainly of ten counts and 16 counts yarns. The share of Bangladesh in this sector in the world market is still about only one per cent. The country’s home textile sector is beset with rising raw material and fuel prices. Around 75 per cent of the cost of towels goes to yarn purchasing. As a result, many producers are incurring losses.

However, despite a rise in orders the home textile sector is faced with growing prices of raw materials and fuel that are hurting the industry. Continuously increasing yarn prices are bane as most buyers are not willing to share the extra cost and most producers are being forced to take orders at lower prices.

As per the statistics released by the Pakistan Bureau of Statistics, Pakistan’s total textile exports increased by 23 per cent to $15.42 billion Y-o-Y in FY 2021.

Knitwear exports posted the highest growth of 37 per cent Y-o-Y basis to $3.83 in FY21 as against $ 2.80 billion in FY20. Among others, bed wear and readymade garment’s segments also recorded a substantial growth in exports by 29 per cent Y-o-Y and 19 per cent Y-o-Y respectively.

This exponential rise in textile exports during the FY21 can be attributed to a 73 per cent increase in exports to $1.67 billion during the final month of June’21 and a 57 per cent upsurge was seen compared to the previous month of May’21.

The country’s textiles export are expected to continue growing in FY22 as demand for Pakistan’s textiles is likely to stay strong as many countries have developed the likeness for the Pakistani textile products.

The second edition of Texworld Evolution Paris Showroom was attended by over 700 visitors from 34 countries. These visitors were able to discover over 7,000 products and textile samples from 150 international companies.

Around 75 per cent of these visitors were from France, Spain, Belgium, the Netherlands and Germany. Exhibits of the major global sourcing zones, was presented this year in two distinct locations: the 5 rue du Mail brought together the fabric trend forum for the autumn-winter 2022-2023 collections as well as a selection of finished garments; the Atelier Richelieu, on two levels, expressed the rich array of fabric, garment and accessory collections by exhibitors from some fifteen countries, with also an Apparel Sourcing trend section.

Manufacturers' representatives present in the Showroom were able to interact with the visitors including weavers from Korea, Turkey, Holland and Germany, and clothing, agents and finished product manufacturers from Poland, Vietnam, China, Bangladesh, Portugal and Madagascar.

Denim manufacturer Isko plans to join The Jeans Redesign project launched by the Ellen MacArthur Foundation to encourage the denim industry to move towards a circular economy for fashion.

As per Innovation in Textiles, ISKO meets the participation requirements set by The Jeans Redesign guidelines and has made a commitment to use recycled materials for 85 per cent of its entire fabric production in future. This production will be independently verified by Textile Exchange audit bodies.

This achievement will be made possible using Isko’s R-Two technology which is created through a patented and proprietary yarn spinning technique that retains the unique properties and benefits found in the company’s statement fabrics.

The company recently signed a licensing agreement with research and development company HKRITA for its award-winning, revolutionary Green Machine – a one-of-a-kind technology that fully separates and recycles cotton and polyester blends at scale.

The agreement will enable Isko to improve and commercialise recycling technologies which will eventually enable the company to offer a 100% post-consumer recycling solution to all of its customers.

The Los Angeles-based company Guess recently shared its progress on environmental, social and governance goals in a new report. Titled ‘Vision Guess,’ the report was written in accordance with the Global Reporting Initiative (GRI) and Sustainable Accounting Standard Board (SASB) standards. It highlights the brand’s future strategies.

As per Sourcing Journal, from fiscal year (FY) 2020-2021, Guess increased its environmentally preferred materials by more than 10 percent and exceeded its goal by reaching 12.25 percent environmentally preferred materials.

The Guess Responsible Sourcing Policy on cotton, which accounts for 60 percent of its product range, aims to increase procurement of preferred cotton sources like the Better Cotton Initiative (BCI) while working to improve traceability and keep prohibited cotton sources from entering the supply chain. The company, however, fell short of reaching its goal to source 20 percent of its cotton with BCI, instead sourcing 12.74 percent.

Denim continues to be a major focus in Guess’ sustainability efforts. In FY 2021, 21 percent of the brand’s denim followed the Smart Guess guidelines, which requires jeans to contain at least 20 percent certified sustainable materials and use production methods with reduced environmental impact. The company plans to increase that number to 75 percent by 2025, while continuing to raise the sustainability requirements.

In the meantime, the brand plans to release its first product made in accordance with Ellen MacArthur Foundation’s Jeans Redesign guidelines for circularity. The collection will complement other circular initiatives Guess has in place, including its growing take-back program called Resourced. The program calls for consumers to donate unwanted clothing and footwear, which will be sorted by the recycling solutions provider I:Collect.

A new laboratory by Garmon Chemicals, Kemin Industries’ textile auxiliaries business and chemical solutions brand, was recently opened at the Garmon Studio located in Jiangmen in the Guangdong province of China.

As per Sourcing Journal, the lab broadens the opportunity for Garmon technicians to work with companies that previously faced language barriers or travel restrictions. It will also facilitate the development of local collections that better match domestic styles and trends, creating efficiency in clients’ sampling processes.

Additionally, the lab tees up new opportunities for technicians in China to sharpen their skills with the latest technologies. The lab is equipped with Garmon’s Smart Foam garment finishing system that reduces water consumption by up to 80 percent. The patent-pending technology uses foam as a carrier of chemicals.

To celebrate the opening of the fashion laboratory, Garmon Studio created a pair of jeans that draws inspiration from both cultures in honor of the 50th anniversary of official diplomatic relations between San Marino and China. Made with hemp and cotton fabric from the Chinese mill Advance Denim and Smart Foam technology, the left leg features San Marino’s towers that stand above the Adriatic Sea and the left features an ancient Chinese temple. A gold foil “50” on the jeans the represents poignant anniversary.

Hyve Group has added Retail Trust as its Charity Partner for spring and Autumn Fair for two years and Wellbeing Partner across all its retail shows in the UK comprising Spring Fair, Autumn Fair, Pure, Glee and Scoop, to provide dedicated support, awareness and fundraising for the retail sector.

The partnership will incorporate offsite volunteer days, team challenges, and onsite activity kicking off at Autumn Fair from September 05-08, 2021 at NEC Birmingham. The partnership also includes the launch of the Female Founders scheme that will offer free stands to 10 inspirational female founders.

During the 2-year Charity partnership, Hyve Group will take part in fundraising activities to raise awareness and funds for the Retail Trust. A dedicated Wellbeing section will launch on each of the event websites for Spring and Autumn Fair, Glee, Pure and Scoop. This will feature informative and supportive articles alongside videos that support the wellbeing of retailers and wholesalers alike.

Alongside this, the Retail Trust will also be supporting the Spring Fair Female Founders initiative. Launching at Autumn Fair 2021, Female Founders initiative is an exciting program created to champion and celebrate inspiring female entrepreneurs.

The initiative will support the growth of female founded retail businesses by offering six businesses a free stand at Spring Fair 2021, followed by 12 months of business mentoring with leading female entrepreneurs. The scheme will be announced and launched at Autumn Fair in September.