The H&M Group's net sales increased by 6% to SEK 60,897 million (57,450) in the third quarter of 2023, compared with the corresponding period last year. In local currencies, net sales were flattish compared with last year. Excluding Russia, Belarus and Ukraine, the increase was 8 percent in SEK.

The work towards the company's goal of reaching a 10 percent operating margin in 2024 is going in the right direction. Profitability and inventory levels have been prioritized in the quarter.

The amount is provisional and may deviate slightly from the nine-month report that will be published on 27 September 2023.

The VIEW Autumn.Winter 24/25, hosted by Munich Fabric Start, concluded successfully at its new location, Motorworld, on September 14th. This fully-booked event featured over 300 suppliers showcasing their offerings for Autumn and Winter 2024/25. reVIEW was organized into four distinct sections: Fabrics, Design Studios, Additionals, and Denim & Sportswear, catering to a wide range of fashion industry needs.

Key industry players, including Bogner, Hugo Boss, and Marc Cain, attended the event. The new format, serving as a platform for both ordering and collection development, garnered positive feedback. However, the timing of the event in September prompted diverse opinions within the industry, prompting the organizers to consider future scheduling based on market needs.

The event was notable for its role in facilitating specific negotiations, with discussions often centering on pricing. The traditional divide between premium and budget brands is blurring, with sustainability emerging as a critical topic for exhibitors and buyers alike.

Munich Fabric Start Exhibitions GmbH, known for its flexibility, has confirmed upcoming dates to meet industry demands. The preVIEW event is set for November 28th and 29th, 2023, offering insights and ordering opportunities for Spring/Summer 2025 collections. Subsequently, from January 23rd to 25th, 2024, Munich will host Munich Fabric Start and Bluezone.

The organizers are conducting a thorough analysis of insights from recent events to determine optimal future dates. Maintaining a dialogue with exhibitors and visitors remains central to aligning the trade show system effectively with current market requirements and providing an efficient platform for the fashion industry.

Textile and apparel circularity is a vital part of the sector’s sustainability goals and practicing circularity in textiles has significant implications for the Earth’s natural resources. When textile production is developed in a manner that links it to reverse logistics, capacities could then improve the supply chain resilience by connecting production and disposal in one loop. 

In a step to strengthen circularity practices in this sector, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) and Aditya Birla Fashion and Retail Limited (ABFRL) are collaborating on “Approaches for Circular Textiles and Apparel Industry in India (ACTAII)” as part of the Indo-German Development Public-Private Partnership program (develoPPP). The ACTAII project aims to help India’s textile and apparel industry embrace circular economy principles by developing circular economy guidelines, circularity training modules, and collaborating with startups through an innovation challenge. 

A baseline study was just concluded and the highlight of the report was that the Indian textile and apparel sector must make more strides towards the circularity of its produce. Prajakta L Verma, Joint Secretary, Ministry of Textiles, Government of India said in response to this report “The Textile and Apparel sector is a major economic sector in India. Thus, the integration of sustainability and circularity principles in the value chain is imperative for the larger good of our planet and its people.”

Textile circularity’s current situation in India

As per the baseline report, India is still in the early stages of development in textile circularity. While there is a growing awareness of sustainable practices in the textile industry, there are still challenges to be addressed in order to implement circularity in the textile value chain. “This report includes first-hand data on India’s textile and apparel industry, including current practices on sustainability and circularity, existing gaps and challenges and potential areas for pilot implementation from innovations. The study addresses textile industry circularity and stakeholders at each step of the value chain, including design, manufacturing, distribution, retail sale, and consumer use,” says Kartikeya Sarabhai, Director, Centre for Environment Education (CEE). 

The lack of infrastructure and technology are two major challenges that limit progression of circularity in the sector. In addition, the industry has limited government support for undertaking circularity. Moreover, the consumers are also not inclined towards buying sustainable products. Efforts are underway to address these challenges and promote textile circularity in India; companies such as Birla Cellulose, Reliance Industries, PurFI, Kishco and many others are working on textile recycling and repurposing. 

The picture of a dynamic roadmap

The local textile sector in India has much to do and the baseline report has suggested multiple points of action. The innovation challenge is to be used to motivate textile manufacturers to prioritize at least six action points from a list of identified focal areas of textile production – these actions will then be used as benchmarks for an innovation challenge from startups that bring diverse next-generation solutions. A jury will evaluate the three most suitable circularity practicing businesses for pilot scale implementation emic institutions such as NID and NIFT, research organizations, subject expert agencies and textile manufacturing conglomerates. This white paper will enable the government make informed decisions to help create initiatives for the Indian T&A sector fast forward its circularity goals. 

Another key element on the roadmap for achieving circularity goals is conducting trainings workshops for not only management but also factory workers with every part of the textile value chain. Along with such awareness development initiative, the baseline report recommends creating a manifesto for India’s textile circularity. The insights provided by the baseline report would go towards creating a holistic framework that includes every aspect of the textile’s lifecycle which would affect its design, supply chain and waste management as well as engaging consumers and stakeholders alike. 

Lenzing AG faces a challenging economic landscape in 2023, as markets crucial to their operations continue to underperform, causing them to reevaluate their outlook. Due to the ongoing market stagnation, the previously projected earnings seem unlikely to materialize. Lenzing Group is revising its earnings forecast for 2023, anticipating an EBITDA ranging from EUR 270 million to EUR 330 million.

CEO Stephan Sielaff expressed concern over the delayed market recovery and emphasized the importance of their cost reduction efforts initiated in November 2022. In response, they are launching a comprehensive value creation program to boost profitability, cash flow, and leverage growth opportunities in the fiber markets through strategic sales activities.

CFO Nico Reiner emphasized the program's role in enhancing Lenzing's resilience in future market challenges. Detailed information about the value creation program will be disclosed alongside quarterly results on November 3, 2023.

In a significant move towards revolutionizing the fashion industry, the Good Fashion Fund, an initiative spearheaded by the Laudes Foundation, The Mills Fabrica, and FOUNT, is channeling a USD 2.5 million investment into Sri Kannapiran Mills Limited (SKML), a prominent Indian cotton yarn and sustainable denim fabric manufacturer. This strategic collaboration aims to bolster SKML's commitment to sustainable practices by upgrading crucial equipment in three of its factories. The infusion of capital and expertise from the Good Fashion Fund will not only facilitate SKML's ability to meet escalating production demands but will also enhance its global competitiveness while minimizing environmental impact.

This partnership underscores the Good Fashion Fund's unwavering dedication to addressing sustainability challenges within the fashion sector. As the fund takes the lead in greening the industry, it empowers manufacturers like SKML to champion sustainable solutions, forging a path toward a more eco-conscious and socially responsible fashion landscape. 

Jayanth Kashyap B, Investment Lead of Good Fashion Fund, invites industry enthusiasts to explore how this collaboration is paving the way for a greener fashion industry and revolutionizing the manufacturing sector through impactful equipment and technologies. 

Success stories of supported manufacturers showcase notable strides in sustainability, reduced environmental footprints, and positive social contributions. Good Fashion Fund's dedication to this transformative journey marks a pivotal moment in the global fashion landscape.

Candiani Denim, an Italian premium denim manufacturer, will officially launch its Coreva Design brand on September 19 during Milan Fashion Week. 

The brand offers only natural and biodegradable stretch denim collections made from Coreva technology, which is patented exclusively worldwide by Candiani Denim. Coreva harnesses the elastic properties of a plant material, derived from natural rubber, to provide comfort without the need for synthetic yarns. 

This particular stretch denim cloth, which uses no plastics, reduces its ecological impact at the end of its life by degrading in less than four months instead of 200 or more years.

Coreva Design uses fabrics that are the result of regenerative agriculture practices, the most responsible and conscious way of farming, which puts the properties and health of the soil first. Its collection consists of three distinctive and dynamic areas dedicated to leisure, premium denim and ready-to-wear. 

The collection offers various styles including 5-pockets, worker trousers, chinos, denim jackets along with maxi shirts, as well as cargo, miniskirts, tops with maxi pockets, chemises and overcoats. Completing the selection are sweatshirts, hoodies and joggers made from an exclusive fabric of the Coreva family that is extremely soft and available in écru, indigo, gray and terracotta colors.

The brand will be managed through the company's executive offices in Mentana Square, next to the company's Candiani Denim Store. Artistic direction of the project's communication will involve Matteo Ward and Wråd Design Studio.

Apparel Group's Crocs has opened its latest store at the Riyadh Park Mall in Saudi Arabia, further cementing its dominant presence in the country. The new store is the brand's 37th in Saudi Arabia and its 80th in the GCC region.

The official store launch was held on September 8th and was attended by esteemed guests including key influencers and media personalities from the region. The guests enjoyed the lively atmosphere in the store, which was filled with music from a top-notch DJ and colorful graffiti art. They also had the chance to personalize their Crocs with Jibbitz, the brand's signature charms.

Neeraj Teckchandani, CEO of Apparel Group, said, "Crocs has always stood at the intersection of comfort, style, and innovation. Our expansion in Riyadh and the broader GCC region is a testament to our unwavering commitment to our loyal customer base. The Riyadh Park Mall store is not just another location – it's a celebration of our shared journey with our customers who have embraced the brand wholeheartedly."

The new Crocs store in Riyadh Park Mall offers residents and visitors an extensive collection of the brand's latest designs, bringing forth a blend of comfort, color, and innovation.

The Office of Textiles and Apparel (OTEXA) has released the latest data on United States' apparel imports for the period of January to July 2023. This report delves into the year-on-year progress of the USA's overall apparel imports from around the globe and highlights trends in imports from top sourcing countries. 

Global Apparel Imports Dip 

According to the published data, the USA's apparel imports from the world experienced a significant decline, plummeting by 22.28% to US$ 45.74 billion in the first seven months of 2023, compared to US$ 58.86 billion during the same period in 2022. 

Measured in Square Meter Equivalent (SME), the volume of imports also saw a substantial decrease, falling by 27.99% to 14.03 billion SME. 

Top Sourcing Countries' Impact 

The report reveals that all major apparel suppliers to the USA witnessed a substantial decline in both value and volume during this period. Notably, imports from Bangladesh dropped by 19.82% in dollar value to US$ 4.56 billion and 29.03% in SME to 1.39 billion. 

However, Bangladesh's share in USA's global apparel imports slightly increased to about 10%. In July 2023, USA's imports from Bangladesh experienced a positive trend, growing by 7.80% year-over-year, while imports from other major suppliers declined. 

China and Vietnam Face Declines 

The USA's imports from China, its largest source of apparel imports, declined by 28.75% in dollar terms and 28.57% in SME. Import share from China also decreased during this period. Vietnam, the second-largest source, witnessed negative growth of 24.76% in dollar values and 29.31% in quantity-wise imports. 

Impact on Other Top Sourcing Countries 

Other top sourcing countries, including Indonesia, India, Mexico, Cambodia, and Pakistan, also experienced value-wise negative growth ranging from 8.69% to 30.61%. 

Unit Price Increase 

Despite the overall decline in imports, the unit price per SME increased by 7.94% for USA's aggregate imports from the world in January to July 2023, with Bangladesh contributing a substantial 12.99% increase. 

Challenges and Opportunities 

Despite the positive growth in certain segments, the business outlook remains uncertain due to rising costs and inflation. 

Advanced economies' measures to curb inflation are limiting consumer spending power, potentially causing further dips in imports. However, there are opportunities for growth in the USA market, particularly in diversified and higher-value-added items. Recent investments and a focus on innovation can position companies to excel in various product categories and maintain a strong presence in the challenging market landscape.

Asia's premier fashion event CENTRESTAGE concluded successfully on Saturday, attracting more than 7,700 buyers from 78 countries and regions. The three-day exhibition brought together more than 240 fashion brands from 19 countries and regions, showcasing a wide range of products from ready-to-wear to accessories.

The fair was well-received by both exhibitors and buyers. Many exhibitors said that they were able to meet new buyers and generate leads, while buyers said that they were impressed by the quality and variety of products on display.

The survey revealed a growing emphasis on sustainable fashion; 74% of respondents agreed this would be prevalent in the industry this year.

CENTRESTAGE also opened to the public on its final day. More than 30 fashion shows and events were organised throughout the fair, attracting enthusiastic participation from both industry professionals and the general public.

Here are some of the highlights of CENTRESTAGE 2023:

• The fair attracted more than 7,700 buyers from 78 countries and regions, a significant increase from last year.

• The number of buyers from the Middle East, Mainland China and ASEAN countries recorded significant growth.

• The survey revealed that 67% of respondents believed that Hong Kong-designed fashion products were of the same quality as those in developed markets.

• 85% of respondents named Hong Kong as their top choice for physical trade fairs.

• 74% of respondents agreed that sustainable fashion would be prevalent in the industry this year.

CENTRESTAGE is a valuable platform for fashion brands to connect with buyers and showcase their products. The fair has successfully created business opportunities for exhibitors and buyers, and it is a key event in the global fashion industry.

Lenzing, a leading global producer of wood-based specialty fibers, has launched a real-time ocean shipment tracker in collaboration with digital supply chain solution company project44. 

The tracker uses AI and predictive analysis technology to provide customers with accurate real-time insights on fiber orders, ranging from shipment status, container location, to vessel route tracking and estimated arrival times at ports around the world.

The tracker also offers capabilities to improve the visibility of carbon emissions among partners and elevate the customer experience. This is in line with Lenzing's sustainability goals, which include reducing carbon emissions by 50% by 2030.

"Over the past couple of years, supply chain disruptions have highlighted the importance of advanced ocean shipment tracking," said Thomas Panholzer, Vice President Global Supply Chain at Lenzing. "Our real-time shipment tracker is a testament to Lenzing's 'Better Growth' corporate strategy, which reinforces our commitment to digitally transform and ensure transparency in the textile and nonwovens supply chain."

"Supply chain visibility continues to depend on successful collaborations," said Jett McCandless, founder and CEO of project44. "Lenzing's shipment tracker, powered by project44's unique data and insights, gives unprecedented customer access to real-time information that locates shipments across the globe. We are continuously seeking partnerships with pioneers like Lenzing who strive to incorporate new solutions and technologies into their offerings."