Neiman Marcus stores appear to be losing their grip on Gucci bags and other luxe goods since the swanky retailer emerged from bankruptcy last fall, The Post has learned. The apparent rift comes as Neiman Chief Executive Geoffroy van Raemdonck — who has racked up millions of dollars in bonuses before and since the bankruptcy — has been blasted by staffers for a tone-deaf approach to belt-tightening, flaunting his wealth in a glossy magazine spread last fall even as pink slips were being handed out.

Vendors smarting from unpaid bills have been ramping down their business with Neiman, according to sources. Even the firms that provide insurance for deliveries to Neiman are tightening their terms or suspending coverage, according to company documents.

The pandemic has been brutal for luxury stores and Neiman has been no exception. Moody’s Investors Service recently added Neiman to its bankruptcy watch list. Neiman’s in-store sales plunged 34 percent over the six months ended Jan. 30, while its online sales dropped 6 percent over the same period, according to the confidential March 18 financial document obtained by The Post.

Asia Pacific Rayon, the largest integrated rayon fiber producer in Indonesia, has secured a syndicated loan facility of Rp 4.5 trillion ($300 million) with national and international affiliated banks. The funding will be used to support continued capital investment in the company's production facilities at Pangkalan Kerinci, Riau Province, Sumatra.

APR is vertically integrated through its supply chain, from renewable fiber plantations to high-value textile development. It commenced operations in 2019 and was formally inaugurated by President Jokowi Widodo in February 2020. APR plans to increase its production capacity over the coming year to capture the strong growth potential of viscose staple fiber (VSF), strengthening its market position in Indonesia and in export markets across the region. APR is a member of the RGE group of companies. Founded by Sukanto Tanoto, RGE manages a group of resource-based manufacturing companies with global operations.

The syndicated loan participating banks are PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Central Asia Tbk, PT Bank Pan Indonesia Tbk, PT Bank Pembangunan Daerah Jawa Barat, PT Bank Woori Saudara Indonesia 1906 Tbk and PT Bank KEB Hana Indonesia

The joint mandated lead arrangers and bookrunners for the syndicated loan are PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Central Asia Tbk, and PT BANK Pan Indonesia Tbk.

Telangana has surpassed Gujarat to become the second-biggest state in cotton acreage. As per a SRTEPC report, the state now plans to increase its area under cotton cultivation by another 15-20 lakh acre in the approaching Kharif season. This will take the total cotton area to 75-80 lakh acre.

K Chandrashekar Rao, Chief Minister has urged the Agriculture Department to mobilize the required cotton seeds for the upcoming Kharif season. Generally, farmers use two packets of seeds with 450 grams each in one acre. So, the state requires 1.50-1.60 crore packets in total. Last year, it had experimented with Regulated Cropping System increased cotton acreage to a whopping 60 lakh acre from 46 lakh acre in 2019.

This year, the state has urged its farmers to grow red gram (pigeon pea) in double the area of what was last Kharif. Gujarat was earlier the second-biggest cotton cultivating state, growing cotton in around 56 lakh acre. In 2019, the state grew cotton on 66 lakh acre.

The Mastercard SpendingPulse report for March 2021 estimates apparel sales increased by 60.6 per cent compared to the same period last year, while department store sales jumped by 114.3 per cent. As per the report, compared to 2019, apparel sales increased 18.7 per cent, with department store sales rising by 0.1 per cent. Total retail sales, excluding autos and gas, rose by 26. 3 year-over-year and by14 per cent over 2019, says the report by Sourcing Journal. E-commerce sales increased 56.8 per cent year-over-year and 85.9 percent from two years prior.

Sale of furniture and furnishings jumped 64.8 per cent year-over-year and 26.9 per cent over 2019. Of all the shopping categories, jewelry spiked by 106.1 per cent year-over-year, and by 29.7 per cent compared with 2019. In a separate study conducted by the IBM’s Institute for Business, respondents said they were confident about the safety and effectiveness of the COVID-19 vaccines, and expressed a desire to return to “normalcy” after getting their jab. However, companies may need to update their marketing and outreach to remain competitive and successfully engage customers due to different rules, personal preferences and social norms that developed last year, the survey added.

Nearly 54 per cent respondents to the IBM survey said, in-store promotions were the top factor that would drive consumers to the stores, especially Gen X consumers. Additionally, local products that aren’t available online, such as small batch food products and hand-made apparel, may attract nearly 50 percent of surveyed millennials, Gen X and boomers to shop in person.

The COSATU-affiliated Southern African Clothing & Textile Workers’ Union (SACTWU) has concluded its outstanding wage negotiations for the Woven Cotton textile sub-sector. The agreement was struck with the South African Cotton & Textile Processing Employers' Association (SACTPEA) under the guidance of the National Textile Bargaining Council.

As per the agreement, SACTWU members in this sub-sector will receive a 5.5 per cent wage increase, with effect from March 01, 2021. About 8000 textile workers employed in 72 companies nationally will benefit from this wage increase.

The Southern African Clothing and Textile Workers' Union is the biggest union in the South African clothing, textile, footwear and leather industry, with more than 100 000 members. It negotiates wages for the vast majority of workers in these industries in South Africa, with the collective bargaining agreements covering over 150 000 workers.

Swedish fashion brand Mini Rodini, has released a new spring and summer collection for kids with each of the garments inscribed with a Korean letter. Titled ‘Mini Rodini on the Trans-Siberian Railway – Final Stop: Seoul’, the collection depicts Korean style paintings of tigers with ‘Mini Rodini’ written in Korean letters.

As per a Korea Bizwire report, a number of global fashion brands have begun using Korean letters for fashion design lately. In 2015, Chanel’s Cruise show 2015 at Dongdaemun Design Plaza in central Seoul first sparked an interest in Korean letters among fashion brands. The brand’s creative director, designer Karl Lagerfeld inscribed various words including ‘Korea’, ‘Seoul’, ‘Coco’, ‘Chanel’, and ‘Mademoiselle’ in Korean letters.

Founded in 2006 by illustrator Cassandra Rhodin as a tribute to all children and their imagination, Mini Rodini has always aimed to make kids’ shopping easy for parents by offering uniquely designed and environment-friendly products.

As per market intelligence analysis by an ESOMAR-certified market research and consulting firm, the global embroidery machinery market is expected to grow at a steady CAGR of around 5 per cent over the next 10 years, i.e. 2021-2031. Global embroidery machinery market is anticipated to add 1.6X by 2031. Computerized embroidery machines are expected to grow at an impressive CAGR of 5 per cent during the forecast period.

The report estimates East Asian market to grow at a lively CAGR of 5.5 per cent through 2031. The market for 2-7 multi needle embroidery machinery is expected to grow at 6 per cent CAGR, while single needle machines are projected to add 1.5X times value over the forecast period. By speed, sales of above 1,200 SPM machines are expected to balloon at the fastest pace of close to 6 per cent, owing to large demand from the commercial industry to produce mass embroideries in less time.

By end-use industry, the commercial industry is poised to bestow prodigious opportunity for embroidery machinery manufacturers, owing to increasing use of these machines by large-scale embroideries. The market in China and Japan is expected to expand at over 5 per cent CAGR each, while that in India at close to 7 per cent CAGR through 2031.

Guillaume Leglise, Assistant Vice President, Moody's opines, long term environmental and social factors may put the apparel industry’s profitability at risk. The analyst advises environmentally conscious consumers to encourage fashion brands to adopt new sustainability measures.

Moody’s says, the apparel industry is the second largest user of water globally and produces 8 per cent of global greenhouse gas emissions. Garment dyeing and textiles finishing, which results in 20 per cent of global industrial water pollution, is likely to triple environmental damage by 2050, says the report. It estimates water needs to exceed supply by 2030.

Researchers at Piper Sandler say, younger consumers are more interested in buying sustainably produced clothing even if it costs. They are increasingly renting and buying secondhand clothes to obtain higher quality clothing at better prices. According to the report, H&M’s new strategy to adopt less wasteful apparel production may be difficult to sustain as these products represent just a fraction of H&M’s total output.

Turkish capital Ankara hosted a two-day hybrid fashion event to introduce seven Indonesian brands in the country. Franka Soeria, Co-founder, Markamarie, an Indonesian clothing brand made a presentation showcasing different types of Indonesian motifs and fabric, including Batik, the art of creating designs on fabric with the aid of wax, reports Daily Sabah.

Soeria said, Indonesian brands mostly focus on creating modest clothing. They are launching new events and initiatives to boost the growth of this sector hit by the pandemic.

Lalu Muhamad Iqbal, Indonesia’s ambassador to Turkey, said, the event was being held keeping all the precautions in view. It will serve as a platform to initiate business in the area, he added.

Among the seven brands that took part in the show were Elzatta, a pioneer of modest fashion brands with hundreds of stores, Wearing Klamby, a high-engagement brand with 1.6 million followers, and Medina Zein, an urban modest brand led by the famous entrepreneur with the same.

The brands created special collections to be showcased at the event, while invitees had the chance to view and buy the pieces following the show.

The Pakistan government is planning to import cotton from Uzbekistan via land routes after it decided against importing from India. Razak Dawood, Commerce Adviser assured value-added textile exporters he’d take up the demand of textile exporters on duty-free imports via lands, ban on yarn exports or duty on its exports with the authorities.

Exporters said imports via land is cost-effective and important considering the 40 per cent drop in production this year. They urged for permission to import yarn like pharma products that are imported from India Last week, Pakistan withdrew a decision to allow cotton imports from India. The country is facing approximately 40 percent low cotton crop, which is the lowest quantity during the last 3 decades. The government should facilitate exporters to import cotton yarn from Central Asian Republics through land route via Afghanistan as the sea route is taking prolong duration due to shortage of containers and vessels.

Availability of imported cotton yarn from Central Asian Republics through land route via Afghanistan safely will bring positive impact and textile export. The value-added textile exporters have also sought guidance from the adviser as how to operate their industries and complete export orders in the current circumstances and cotton yarn crisis which is aggravating every coming day.

They also requested the adviser commerce to expedite release of payments of duty drawbacks as quick as possible to support the textile export industry and demanded rates of gas should be same for new industrial units.