The global market for spinning machines is projected to grow at a CAGR of 5.5 per cent to reach $7.3 billion by 2027 says a ResearchAndMarkets.com study. One of its segments Ring Spinning is projected to record a 5.6 per cent CAGR and reach $3.1 billion by the end of the analysis period while the Rotor Spinning segment is projected to grow at 5.8 per cent CAGR for the next seven years.

China, the world's second largest economy, is forecast to grow at 8.4 per cent CAGR to reach a projected market size of $ 1.5 billion by 2027. Other noteworthy geographic markets such as Japan and Canada are forecast to grow at 3 per cent and 5 per cent respectively from 2020 to 2027. Within Europe, Germany is forecast to grow at approximately 3.5 per cent CAGR.

In the global Other Types segment, the US, Canada, Japan, China and Europe will drive the 4.4 per cent CAGR estimated for this segment. These regional markets will reach a projected size of $1 billion by the end of 2027. China will remain among the fastest growing in this cluster of regional markets.

Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach $976 million by 2027, while Latin America will expand at a 5.9 per cent CAGR through the analysis period.

Expressing apprehensions over the government’s $6 billion export target, the Sri Lankan Joint Apparel Association (JAAF) has urged the industry to focus on reverting to pre-COVID performance. Tuli Cooray, Secretary General, JAAF believes, it would be difficult for the industry to achieve this target as strict protocols are in place across the country due to the pandemic. The COVID-19 situation is not allowing factories to work in full capacity, he adds.

He confirmed the industry has not set any targets but aims to revert to pre-COVID growth. As per a Daily FT report, Sri Lanka’s apparel exports declined 21 per cent in 2020 to $ 4.4 billion after posting a 5.1 per cent growth in 2019. Textile and garments exports in January 2021 declined by 11 per cent to $ 423 million from a year earlier, affirmed the Central Bank. However, other made up textile articles exports increased by 20 per cent to $ 13 million during the month.

Global demand for apparels has declined by 30 per cent, thereby posing a greater challenge for the industry and economy at large, added Cooray. However, earnings from PPE exports rose by 47.42 per cent to $876.44 million, added Export Development Board. Cooray further informed, JAAF is urging the Sri Lankan Government to finalize the impending free trade agreement (FTA) with China.

The global sports apparel market is expected to grow at a CAGR of 4.9 per cent to reach $247.4 billion by 2027, says ResearchAndMarkets.com study. It says, discount stores are expected to grow at 4.7 per cent CAGR to $ 81.2 Billion by the end of the analysis period. Brand outlets segment is expected to grow at 4.5 per cent CAGR for the next seven-year period.

Growth in the world`s second largest economy, China is expected to trail at a CAGR of 7.8 per cent from 2020-2027 to reach $ 51.9 billion by 2027. Other markets like Japan and Canada are forecast to grow at 2.8 per cent and 3.9 per cent respectively from 2020 to 2027 while Germany is forecast to grow at approximately 3.5 per cent CAGR.

In the global Supermarkets & Hypermarkets segment, US, Canada, Japan, China and Europe will grow at 4.8 per cent CAGR during the forecast period. These regional markets will reach a projected size of $42.6 nillion by 2027. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach $ 33.4 billion by 2027, while Latin America will expand at a 5.5 per cent CAGR through the analysis period.

Uniqlo’s global flagship store at 666 Fifth Avenue in New York houses hundreds of living plants featured on display tables, mingling with mannequins and piled atop pilasters.

Unveiled under a new “Find Your Healthy” theme timed to the brand’s spring/summer collections, the botanical décorevokes natural joy and hope plants bring to people, especially given the difficult circumstances of the last year.

To design the display, management tapped Japanese-born Satoshi Kawamoto, the author, creative director and “master plant artist” whose work has been celebrated in the New York Times, GQ and Elle Décor. Kawamoto runs the trendy nursery Green Fingers Market on New York’s Lower East Side and also keeps garden shops in Tokyo and Milan.

While Uniqlo’s parent company Fast Retailing conceded “an operating loss” and “a large decline in revenue” in a January Q1 report, Uniqlo, as a whole, has actually weathered the storm quite well.

For the three months ending in November 2020, Fast Retailing’s sales were down only .6 percent to about $5.7 billion. (Fast Retailing owns a number of smaller apparel labels including Theory and J Brand, but Uniqlo is its main label.) The principal brand has been buoyed through the hard times by healthy ecommerce and a strong Covid-19 rebound throughout Asia.

As per the latest Goods Trade Barometer released by the World Trade Organization, though global trade has rebounded from the deep decline in the third quarter, prospects for 2021 and beyond are uncertain as new variants of COVID-19 have appeared.

The barometer’s current reading of 103.9 is above both the baseline value of 100 for the index and the previous reading of 100.7 from last November, signalling a marked improvement in merchandise trade since it dropped sharply in the first half of last year”, the report pointed out.

While all component indices are either above trend or on-trend. Furthermore, the indicator may not fully reflect the resurgence of COVID-19 and the appearance of new variants of the disease, which will undoubtedly weigh on goods trade in the first quarter of 2021, the report added.

The two most reliable wind direction indicators of global trade, the export order index (103.4) and the auto product index (99.8) have both peaked recently. In contrast, the container shipping index (107.3) and air transportation index (99.4) are still rising. Both the electronic component index (105.1) and the raw material index (106.9) are steadily above trend and rising, possibly due to inventory stockpiling.

TulliCooray, Secretary General, Joint Apparel Association has expressed reservations over achieving the $ 6 billion export target set by the Sri Lankan Government for 2021 given the challenges, and insisted that focus should be to revert to pre-COVID performance.

Cooraysaid that it was difficult to achieve such an ambitious target with very strict health protocols in place due to the pandemic. The industry has not set any targets, but they at least want to achieve the numbers pre-COVID to recover the apparel sector, he added.

In 2020 apparel exports declined by 21 per cent to $ 4.4 billion after posting a 5.1 per cent growth in 2019 from 2018. Last year’s decline reflects the industry’s struggle given the COVID-19 impact globally and locally. Prior to the pandemic the industry forecast was a 6 per cent growth in 2020.

Apparel industry was one of the key export sectors which was severely hit by COVID-19 due to partial or full shutdown in major markets as well as domestically whilst the pandemic also impacted the employees.

Cooray said they are yet to hear from the Government regarding the national Covishield vaccine program, to give priority to vaccinating their labour force. He warned that Sri Lanka was facing stiff competition from other countries that had been able to meet orders, despite having higher COVID-19 patient numbers.

He also said that the demand for global apparel has declined by 30 per cent and thereby posing a greater challenge for the industry and economy at large

The increase of 2000yuan/mt for PSF May contracts before and after Spring Festival holiday has been cut by over 50 per cent. As per CCF report the spot direct-spun PSF price was also dragged down by selloff of spot-futures traders, but it moved down more slowly and has been cut by about 40 per cent of previous increase.　

The active transactions were seen in on-call trades of spot-futures traders. Sanfangxiang sources were mainly traded at 7,000-7,300yuan/mt by on-call trades. The basis also strengthened from minus 450yuan/mt~minus 400yuan/mt to minus 300yuan/mt. In addition, the stocks of spot-futures traders at hand have declined to about 70kt after underselling.

Some spot-futures traders were also reluctant sellers, and some even purchased further at current low price. They were optimistic to the return of basis, and had confidence to later increase in factory warehouses of traders and direct-spun PSF plants.

Currently direct-spun PSF plants and traditional traders were waiting spot-futures traders to sell out and futures market to stabilize after large volatility. The normal adjustment also needs more time to restore.

The Environmental Audit Committee (EAC) has urged the British government to set up a Garment Trade Adjudicator to ensure retailers treat their supplier factories fairly

Fast fashion brands such as Boohoo were criticized by the committee last July following media reports that factory workers in Leicester, central England, were paid as little as 3.50 pounds ($4.40) an hour, well below the legal minimum wage.

The government has since set up a multi-agency task force to probe conditions in the sector and Boohoo has promised reforms but textile factories have come under pressure during the coronavirus pandemic with brands delaying or canceling orders.

The British Retail Consortium has proposed a licensing scheme to stop rogue firms from accessing the market and undercutting legitimate fashion manufacturers.

The EAC said the adjudicator could investigate brands' purchasing practices and supplier relationships, issue recommendations, name offenders, and impose fines.

Though the ZCE Cotton Futures and cotton yarn futures surged successfully on the first trading day after Spring Festival holiday, the market remains hazy.

Most downstream weavers will restart from February 21, so the transactions of cotton yarn are sparse in spite of price rise. Weavers did not see obvious increase in new orders during the holiday and they still focused on delivering pre-holiday orders.

On the other hand, traders restocked at a large amount before Spring Festival holiday. Their offers were adjusted up due to the rise of ZCE cotton futures, but no transaction was done. If the market does not perform as expected in March, they may quicken the sales, pressuring the price.

The inventory was also much lower than previous years. If the peak season comes as expected in Mar.-Apr., tight supply and hot demand of cotton yarn will sustain.

In general, cotton yarn market welcomes a good start after Spring Festival holiday with price up 500-1000 yuan/mt, but few trades are done. It is expected to see more transactions until Feb 26, but it is still uncertain whether orders could achieve expectation to peak season.

In short run, traded price of cotton yarn is likely to move up compared with that before the holiday supported by the cost and tight supply. If the orders do not meet the expectation, the increase in price may be discounted. There is still large uncertainty in traders.

Raphel Camp, CEO, Eurovet Americans, which hosts the intimate apparel and swimwear trade show Curve said, the upcoming edition of the show will take place in New York City between August 1 and 3.

As per a Womens Wear Daily report, Curve produces trade shows in Paris, Montreal, Los Angeles and some parts of China, in addition to shows at the Jacob K. Javits Convention Center in Manhattan twice a year. The last two in-person New York shows (in September 2020 and February 2021) were canceled in response to coronavirus concerns.

In lieu of the live events, Curve launched Curve Connect, a virtual lingerie trade show. The digital platform showcases an array of innerwear and swimwear brands and enables retailers and buyers alike to continue networking, schedule virtual one-on-one meetings, view new collections online and listen to panel discussions.

In the post-pandemic world, as trade shows evolve into a combination of live and digital events, Camp said Curve Connect users will still be able to access the digital tools.