Bangladesh wants to sign a free trade agreement with South America. This is a market of 300 million consumers across an economic and political bloc comprising Argentina, Brazil, Paraguay, Uruguay and Venezuela.

South America and Bangladesh hope to improve people-to-people contacts, enhance economic cooperation and work together on new global development agendas. Bangladesh views Latin America not just as a market for exports, but as a valued partner with whom its people could share its culture. Bangladesh and Latin American countries have shared cultural and emotional ties for long, though Bangladesh has only two missions – in Brazil and Mexico – in the entire region. Brazil is the only Latin American country that has a mission in Dhaka.

Bengali Nobel laureate Rabindranath Tagore was a major literary figure in South America during his time and many of his works have been translated in Spanish. His works have influenced other literary figures of his age, such as José Ortegay Gassett, a leading Spanish intellectual of the time, Gabriela Mistral and Pablo Neruda in Chile and Octavio Paz in Mexico. Footballers Pele, Maradona and Messi are household names in Bangladesh, as the country has very strong support for Argentine and Brazilian football.

Sales of apparels in emerging Asia-Pacific countries will continue to grow slightly in 2019 while it will decline in other major regions, including Europe, Middle East and Africa and Latin America says a McKinsey & Company study.

Garment shipments from Bangladesh—the second largest exporter worldwide after China, to India, China and Japan are rising by the day thanks to competitive prices offered by the country and spiraling production cost in China. Sportswear would continue to be the major fashion item in 2019 while sales of other items like apparel and handbags will continue at the same level as of last year. Sales of other fashion items like footwear, jewelry, watches and other accessories will decline in 2019.

Polarisation continues to be a stark reality in fashion: 97 per cent of economic profits for the whole industry are earned by just 20 companies, most of them in the luxury segment. New markets, new technologies and shifting consumer needs present opportunities but also risks. This year is expected to be a year shaped by consumer shifts linked to technology, social causes, and trust issues, alongside the potential disruption from geopolitical and macroeconomic events. Only those brands that accurately reflect the zeitgeist or have the courage to self-disrupt will emerge as winners.

"As the fashion industry warms up to the growing trend of sustainability, concepts of reusing and recycling are gathering momentum. However, it will be a while before these are universally adopted. The trend of fast fashion has increased overall consumption. This needs to change if we wish to make positive environmental change."

As the fashion industry warms up to the growing trend of sustainability, concepts of reusing and recycling are gathering momentum. However, it will be a while before these are universally adopted. The trend of fast fashion has increased overall consumption. This needs to change if we wish to make positive environmental change.

Brands are setting up return schemes, such as TheRealReal x Stella McCartney, with the trend of swishing’ clothes sweeping through the industry. Some brands are also extending the lifespan of their clothes by offering them on rent. This enables them to be innovative in today’s difficult retail climate.

Renting allows data collection on popular products, consumer trends

As fast fashion relies on brands for introducing runway looks to the high street as soon as possible, companies do not have time to gauge customer demand leading to oversupply and other issues related to the destruction of this excess stock. Renting clothes allows companies to gather data not only on the most popular products but also changing consumer behavior. This allows them to make changes to colors, cuts and prints without overproduction. The rental model also allows brands to ensure consumer awareness and loyalty by getting their pieces worn by real people, which is cheaper and more genuine than using influencers.

The rental model is not limited to only established luxury fashion brands and/or specific occasion wear. Companies ranging from Danish maternity and childrenwear brand Vigga to US label Nudie Jeans have also started renting clothes. Rent the Runway has launched an ‘unlimited’ service, which rents out ‘daily’ outfits for a monthly subscription. Such is the perceived success of renting clothing and accessories that Rent the Runway recently acquired a funding input of $20 million from Alibaba’s investors, putting the company’s value at $800 million, according to Allied Market.

Increase in valuation of global online rental brands

Companies following this model rely on the underlying value of brands that they stock. This new model, alongwith innovative technologies to manage storage and cleaning services is allowing brands to access new consumers. The total valuation of global online clothing rental brands, estimated at $1,013 milion in 2017 is likely to reach $1,856 million by 2023. If this trend continues, the future for fashion looks bright for both established and new brands. Brands now only need to introduce innovative schemes to lure customers.

Global Retailers Walmart and PVH Corp plan to make their manufacturing operations as well as supply chains more sustainable by 2025. Walmart, which aims to use 50 per cent of recycled content by 2025, will source 100 percent more sustainable cotton for its private brands. Its stores in the US will source apparel and home textile products solely from suppliers working with textile mills that use the Sustainable Apparel Coalition’s (SAC) Higg Index Facility Environmental Module to measure and help improve environmental performance by 2022. These stores will house checkout carousels to provide reusable bags to its customers.

On its part, PVH Corp aims to reduce the 41.6 billion liters of water it requires in a year to make 30 million shirts. The company has also pledged to use 100 percent sustainable cotton by 2025.

UK multinational companies may come under pressure to follow fair and clean practices in their global operations. This includes an end to exploitative working conditions, including modern slavery and child labor; toxic pollution; rampant destruction of rainforests; land-grabs and evictions of indigenous peoples and local communities; and violent attacks on human rights defenders.

Apparel brands, which do much of their sourcing from Asia, would potentially be hugely impacted by such regulations. There are still no laws in the UK specifically requiring companies to take action to prevent and rectify human rights abuses and environmental damage. Instead, companies seek to profit by undercutting more responsible operators who are trying to raise standards. Meanwhile, British consumers are at risk of buying products tainted by abuses and environmental devastation. A new law would increase protection for individuals and communities, workers, human rights defenders, and the environment. It would create clarity and a level playing field for companies.

Moves to regulate due diligence issues within global supply chains are already afoot at the EU level and within the UN as well as within individual EU states such as Germany and France. Around the world, policy makers, business leaders, academics and campaigners are coming together to work for legislative change to end irresponsible corporate practices.

Vietnam’s earnings from garment and textile exports in 2018 were up 16 per cent. The country is now one of the biggest garment and textile exporters in the world. The Comprehensive and Progressive agreement for Trans-Pacific Partnership (CPTPP) is forecasted to create a driving force for Vietnam’s industry in 2019 and later. Strict regulations will prompt Vietnamese firms to make changes to develop more sustainably and win the trust of global consumers. It will also put pressure on companies to cooperate with one another to form supply chains and actively attract investment to improve their production and business performance.

More than 6000 businesses are operating in the textile-garment industry of Vietnam. Despite its relatively fast growth, the industry still has certain weaknesses, especially in compliance with rules of origin. This is considered one of the sector’s major challenges as it strives to capitalise on new-generation free trade agreements including the CPTPP. Businesses need to actively seek cooperation chances in terms of equipment and material supply so as to meet rules of origin in FTAs and enhance their competiveness in the global market. A switch from a made-to-order model to the production of goods created by themselves will help the sector gain strides in sustainability.

Bangladesh Textile Mills Association (BTMA) has urged the government to include yarn and fabric as VAT exempted items as the sale of local yarn and fabric has declined drastically. BTMA says, sale of fabric and local yarn in the country has reduced drastically and 50-60 per cent of the looms have remained closed for a long period of time. The yarn, fabric and other dress-making materials are being imported under mis-declaration and duty-free facilities, causing threat to the local mills. Woven dying mills have reduced their capacity below 40 per cent while export-oriented spinning mills are forced to sell their products at a lower rate compared to their production cost resulting in huge stockpiling of yarn and fabric.

BTMA has demanded an increase in cash incentives to 15 per cent from existing 4.0 per cent besides a strong monitoring to stop imports under mis-declaration and misuse of the bonded warehouse facilities. The association also urged the government to launch a drive in the textile producing areas to prevent sales of illegally imported yarns and fabrics and to ensure proper management of bonded warehouses.

If a no-deal Brexit deal goes ahead, UK companies will have to decide if the advantages of sourcing in Turkey – speed and flexibility – outweigh the additional costs 12 per cent tariffs would entail. New tariffs be temporary – they would apply for up to 12 months -- while a full consultation and review on a permanent approach to tariffs is undertaken. However, they would come at a difficult time for UK retailers, who are facing tough trading conditions and a weak sterling-to-euro and US dollar exchange rate. As a result, the threat of even temporary tariffs has caused concern among UK retailers and brands already cautious about sourcing from Turkey because of high costs, political unrest and ethical concerns. Hence, they may look at alternative sourcing destinations.

To go from no tariffs to tariffs on certain products would increase the cost of importing clothing from Turkey. That is a big enough number to make retailers think about changing their sourcing strategies.

So far there were clear advantages of sourcing from Turkey. Turkish factories offer fast repeats of popular styles. So, brands can buy smaller initial volumes of stock and see what happens, and so the warehouse isn’t full of poor-selling lines.

Levi Strauss’ women’s business has grown 18 per cent. This has been the 15th consecutive quarter of growth in women’s with the last nine quarters being double-digit. As of now the women’s category sales represent about 30 per cent of Levi Strauss’ total sales.

US-based Levi Strauss is best known for men’s blue jeans. The underlying trend could well sustain growth for years to come as well, as more women - especially younger consumers are constantly eyeing fashion trends choose denim products. Jeans targeted at curvier women are a key selling item for Levi’s specifically and have spurred the rapid growth of the segment in the US and Mexico. That extends beyond jeans as jackets and tops are key items flying off shelves.

The global denim market is growing at a CAGR of 5.8 per cent. Denim jackets are the new power dressing. Celebrity acceptance of this fashion choice and adoption in fashion shows are an indicator that they can provide growth for manufacturers beyond traditional jeans sales. Jeans have always offered form, fashion, and function but now they are offering the comfort today’s consumers want. It’s a win-win for consumers, jeans manufacturers, and retailers.

Econyl regenerated nylon is made out of waste that’s been rescued from landfills and oceans around the world. It performs exactly like brand new nylon and can be recycled, recreated and remolded again and again. Virgin nylon depletes resources. Econyl has a positive environmental impact because it can be recycled infinitely. Econyl can be regenerated an infinite number of times without quality issues since it is a chemical recycling system, not a mechanical one. Econyl is generated from waste from pre-consumer textile scraps and industrial plastic as well as post-consumer waste including used carpets and fishing nets. For every 10,000 tons of Econyl raw material, 70,000 barrels of crude oil are saved. Using Econyl also reduces the global warming impact of nylon by up to 80 per cent compared with the material generated from oil. Designers can have the option to create styles using regenerated nylon over and over again without having to tap new resources to create virgin nylon.

Econyl was developed by the Aquafil Group in 2011. Aquafil, based in Italy, is a leading manufacturer of synthetic fibers for the textile industry. The company was established more than 50 years ago and is focused on developing material for the carpet and apparel industries. Over the past decade Aquafil has invested significant resources in the research and development of sustainable materials.