World’s leading industrial thread company, Coats has launched a new range of biodegradable threads that support customers’ sustainability agendas. Known as Coats EcoRegen, the thread is made from 100 per cent lyocell, a renewable fiber derived from wood pulp sourced from sustainably managed forests. This eco-friendly regenerated fiber is suitable for a wide range of apparel applications to accommodate multiple customer needs.

The launch of EcoRegen is part of Coats’ Eco Journey roadmap to produce innovative sustainable products which support Coats’ drive towards a circular economy. The company plans to launch two more products soon. These include EcoCycle, a range of water dissolvable thread that facilitates garment recycling and end to end circularity; and Eco-B is a recycled polyester thread incorporating an additive which reduces synthetic fiber accumulation in landfills and microfiber pollution in oceans.

As per a CCF Group report, the value of Bangladesh’s apparel exports increased 571 .8 per cent year-on-year in April to reach $ 2.517 billion. Majority of this growth was due to the outbreak of overseas epidemic in April 2020, which caused lockdown and severe exports blocked. Compared with April 2019, value of apparel exports dropped by 0.88 per cent. On varieties front, the export value of knitted and woven apparel increased by 644.9 per cent and 504.1 per cent year-on-year. The export value of knitted apparels surged 4.5 per cent while woven apparels declined by 6.4 per cent year-on-year.

In terms of monthly changes, Bangladesh's apparel exports value gradually recovered on a month on month basis. However, its home textiles exported declined by 4.5 per cent month-on-month compared to that in same period of 2019. From yearly and monthly changes, the growth of home textiles was obvious, the recovery of knitted apparel was faster than that of woven one, and the export value of woven apparel has improved in April.

China needs to set new standards in the apparel and textile industry, says a report by the Qianzhan Industry Research Institute. Order cancellations and reduced demands have severely impacted China’s textile and apparel industry which needs to reduce inventories and make a medium to long-term sustainable development plan, it adds.

Many garment manufacturers have also borne the pressures of growing labor, material and delivery costs since the second quarter of last year, says Sun Ruizhe, president of the China National Textile and Apparel Council. The industry needs to participate more in setting future standards and hold cultural events to introduce their products on the international stage, as well as bring in advanced technological solutions, industrial practice theories and aesthetaetic value orientation, Sun adds.

Cheng Zhiwei, Researcher-Foreign Trade, Jilin Academy of Social Sciences, urges Chinese companies to participate in the formulation of global standards and technical regulations as well as jointly establish an international standardization organization with China as an important member in the coming years.

It is also necessary for domestic players to speed up the development of key technical standards to promote the international development of China’s technology, products and services, Cheng adds.

The report predicts, the textile and apparel market will continue to grow steadily with the ongoing gradual economic recovery and production resumption. China will continue to foster high-quality development in the textile and apparel industry under the 14th Five-Year Plan (2021-25) and the new dual-circulation development pattern.

Apparel and fabric import by Germany are expected to decrease in coming months due to rising COVID-19 cases. As per CCF Group, the pandemic is also likely to affect Germany’s trade within EU member states, as most of them are also subject to lockdown restrictions. From January-June 6, 2021, the value of Germany apparel and fabric import is expected to drop by 1.95 per cent to $3.18 billion. This is mainly due to the lockdown of most EU member states, including Germany, in the first half of 2021, and the closure of apparel and fabric stores

In 2020, German apparel and fabric imports rose from September. In the second half of 2020, China and Turkey were the main exporters of German apparel and home textiles respectively. In its preceding year Germany imported apparels and fabrics worth $40.69 billion. However, its import value dropped by 4.36 per cent to $38.92 billion in 2020 due to COVID-19 outbreak.

Replacing Walmart, Amazon has emerged as the largest clothing retailer in the United States. A Wells Fargo analyst predicts, Amazan sold about $41 billion worth of apparel and footwear in 2020, accounting for 11-12 per cent of all clothes sold in the United States. The e-tailer’s clothing revenues increased by 20 per cent over Walmart’s last year, and it hopes to sell over $45 billion worth of apparel and footwear this year.

Amazon recorded its best sales during the COVID-19 pandemic, as many Americans stopped shopping indoors. The company’s web services benefited immensely from the work-from-home models last year. On the other hand, Walmart has launched new clothing labels and collaborated with fashion designers in recent years to increase sales. The e-commerce company recently expanded its sportswear offerings and collaborated with a fashion designer to design clothes for Michelle Obama.

Southeast Asian countries lost quite a few textile orders last year due to the pandemic. However now, as the pandemic situation in these countries is controlled, orders are again flowing back. As per Vietnam’s Ministry of Industry and Commerce statistics, there has been a 1.1 per cent increase in textile exports in the first quarter of 2021. Fiber and yarn exports grew 31 per cent while exports of canvas and industrial fabrics grew 8.8 per cent.

In 2021, Vietnam aims to increase its textile and apparel exports by 10 per cent to $39 billion, reports China Textiles. The target seems achievable as Vietnam has signed several free trade agreements in recent times. Also, economic recovery of major markets including the US, the European Union, Japan and Korea are likely to boost Vietnam’s exports. VNDirect, a Vietnamese securities firm, predicts Vietnam’s textile exports will grow 8.4 per cent in in the second quarter of 2021.

Pakistan too will exports grow

From July 2020-January 2021, Pakistan’s textile and apparel exports increased over 8 per cent year-on-year to $8.76 billion. As per Pakistan Bureau of Statistics, exports increased by 10.79 per cent to $1.32 billion in January 2021. The main items exported by Pakistan were: high value-added textiles, such as knitwear, towels, bedding, etc.

However, Bangladesh reported a 5.83 year-on-year decline in apparel exports in January 2021. From July 2020, the total value of Bangladesh’s apparel exports declined by 3.44 per cent to $18.408 billion. Exports of woven apparels declined 10.85 per cent year-on-year to $8.419 billion. Meanwhile, exports of knitted apparels increased 3.84 per cent to $9.989 billion. The country exported 62.47 per cent of its apparels to the European Union followed by the US accounting for 18.5 per cent and Canada accounting for 3.11 per cent.

Southeast Asia’s gain leads to China’s loss

Though the outbreak of COVID-19 led to some orders diverting from Southeast Asia to China last year, this situation was controlled by November 2020. The current vaccination drive launched by several countries is expected to attract textile and apparel players back to South Asia.

This does not bode well for China though. March and April are considered peak season for textile orders in the country. However, the situation there is not very optimistic. The recovery of weaving opening rate has slowed down in Jiangsu and Zhejiang leading to an increase in inventory of grey fabrics. The opening rate of dyeing and printing has also slowed down. It would be difficult for China to regain orders lost to Southeast Asia. It can however, focus on enhancing the quality of its textiles and optimizing its supply chain.

Men’s resale market is growing with platforms like StockX and Goat achieving breakthrough performances in the last two years. For the first time, StockX broke even in 2020 to register profits in third quarter. Goat also recorded profits in all parameters including earnings before interest, taxes, depreciation and amortisation or EBITDA in 2020.

This has led to both platforms announcing expansion and growth plans, says a Business of Fashion report. StockX announced new $255 million funding round in early April which surged the company’s value 35 per cent. Similarly, in September last year, Goat had announced a $100 million round which valued the company at $1.75 billion. This was followed by an undisclosed eight-figure investment by Groupe Artémis, a holding company founded by Kering head François Pinault, in January of this year.

Focus on expanding market presence

Both companies aim to be the next global retail powerhouses, competing with Amazon and Farfetch. Goat plans to expand luxury offerings beyond resale. For this, the company aims to form new luxury partnership later this year. Its partnerships with Balenciaga, Versace and Alexander McQueen helped the platform establish as a direct retailer.

On the other hand StockX expanded its market for collectables like basketball cards and electronics. Its top two selling products in 2020 included the Sony Playstation 5 and Microsoft’s Xbox Series X.

To maintain their growth levels, both need to focus on international markets. StockX witnessed a 135 per cent year-on-year growth in buyers outside the US in Q1 this year and plans to open more authentication sites and operational facilities to expand overseas presence and accelerate sourcing and shipping costs.

Both companies plan to focus on the Asia Pacific market where consumers are more open to resale; particularly in categories like sneakers and streetwear. To succeed, they will have to not only manage customer acquisition costs but also roll out authentication sites, build a robust buyer-seller network and customer support services for new territories, says Oliver Chen, Retail Analyst, Cowen. StockX and Goat will also have to compete with local players like venture capital-backed platforms Poizon and Nice in China. Consolidation and M&A will help these players create more localized options.

Both platforms may also face competition from new resale platforms like Nike Refurbished, which authenticates and grades sneakers to sell at reduced prices. Third-party platforms like Recurate and Trove are also likely to threaten their business.

While the resale market is large enough to accommodate multiple platforms, success mainly depends on their ability to maintain consumer loyalty. One of the ways, platforms can differentiate themselves from competitors is by offering more incentives to buyers and sellers. Instead of competing on percentage, they need to concentrate on product authentication and price transparency.

The Board of Directors of Salvatore FerragamoSpA, parent company of the Salvatore Ferragamo Group, has approved the Consolidated Interim Report as of March 31, 2021.

As per this report, the total revenues of Salvatore Ferragamo Group increased by 10.3 per cent to €245 million. The increase in revenues has been achieved despite the permanence, in some countries, of lockdowns of the commercial activities, bans and restrictions on international traffic, due to the Covid19 pandemic.

As of 31 March 2021, the group's retail network counted on a total of 638 points of sales, including 390 Directly Operated Stores (DOS) and 248 Third Party Operated Stores (TPOS) in the Wholesale and Travel Retail channel, as well as the presence in Department Stores and high-level multi-brand Specialty Stores.

In 1Q 2021 the retail distribution channel posted consolidated revenues up 17.2 per cent showing a +14.7% at constant exchange rates and perimeter (like-forlike) vs. 1Q 2020, with the primary channel over performing.

The wholesale channel registered flat revenues despite the persistent negative trend of the travel retail channel. Revenues by Asia Pacific area increased by 50.6 per cent.Gross Operating Profit (EBITDA1) Gross Operating Profit (EBITDA1) amounted to €48 million, The Operating Profit (EBIT) was positive for €7 million Profit before taxeswas positive for €3 million. Net profit for the period, including the minority interest, was at break-even €-0.6 million vs-€41 million in 1Q 2020.

Moore Maxxam has launched a new range of recycled fabrics for kids. These fabrics will be made using Q-NOVA®, an environmentally sustainable nylon 6.6 fibre obtained from regenerated raw materials and certified by Global Recycled Standard. It is a highly ecological product which aims to reduce CO2 emissions, consume less water, and use renewable energy.

The Moore Maxxam Eco Pledge outlines the brand’s manufacturing commitment and ethical brand ethos of using an over 50 per cent recycled nylon, made by upcycling waste nylon yarn for the fabric and recycled polyester yarn for the labels.

Every garment has longevity because it is made from durable, high-quality fabric, that stretches to fit around children for years of growth. Each part of the making process, starting from the knitting of our fabric, through to the garments' sewing is made locally in England. - Moore Maxxam is constantly working on more sustainable/regenerative ways of manufacturing clothing, creating textiles, and adapting the day to day running of the brand. The Mini Maxx collection, available at www.mooremaxxam.com, comprises four pieces; a bodysuit, a playsuit, long shorts, and a vest top – all featuring the seamless, stretchy Maxxam® fabric and designed to be multi-activity.

Vietnam’s textiles exports increased 9 per cent year-on-year to reach $9.51 billion in January-April, reports CCF Group. The export value of fiber and yarn increased by 43.4 per cent to reach $1.64 billion and that of textile, leather and footwear raw and auxiliary materials increased by 14.1 per cent to reach $642 million.

In April 2021, Vietnam's textile manufacturing index rose by 2.7 per cent month-on-month and 17.3 per cent year-on-year. The apparel manufacturing industry grew 3.9 per cent month-on-month and 29 per cent year-on-year. Overall, during January-April, the textile production index moved up by 7.8 per cent year-on-year, the apparel manufacturing industry climbed up by 9.5 per cent, and the leather and related products increased by 11 per cent.

According to the Vietnam industrial and trade daily, though the industry deserves FTA dividend, lack of self-sufficiency of raw and auxiliary materials, Vietnamese domestic textile and apparel mills prevents it from enjoying FTA tariff preferences. As per Vietnam Textile and Apparel Association, average utilization rate of certificate of origin (C/O) is about 58 per cent for textile and apparel products exported to countries that have signed FTA, of which, the c/o utilization rate is about 60 per cent-70 per cent under CPTPP, while that to the EU is only 20 per cent-30 per cent under EVFTA.

The main obstacle to low utilization rate of C/O and failure of enterprises to enjoy dividends is the origin of feedstock, says the Association. In addition, domestic enterprises also face strong competition from foreign enterprises. The Association urges Vietnamese government to strengthen the development of supporting industries to meet the demand of feedstock.