With growing population and a an expanding middle classes, BRICS countries (Brazil, Russia, India, China, and South Africa) are becoming increasingly important markets for global textile sector and fashion brands. As per a predicts a McKinsey & Company report, the textile and fashion industry in BRICS countries is expected to grow at a compound annual rate of 6 to 7 per cent between 2019 and 2025.

BRICS a fast growing fashion market

In recent years, the BRICS countries have emerged as major players in the global fashion, apparel, and textile industry. China has long been a dominant stakeholder in the industry as the world's largest producer and exporter of textiles and apparel. However, other BRICS countries have also made significant strides in the business of fashion. India has emerged as a major hub for textile manufacturing and is home to several leading fashion brands, while Brazil has a thriving fashion scene and a growing number of textile companies. Russia is seeing a rise in luxury fashion brands and South Africa is becoming a key player in the African fashion market.

China produced over 30 billion pieces of clothing in 2019 and accounting for 35 per cent of global apparel exports. India is the world's second-largest producer of textiles and with leading fashion brands. Brazil's fashion industry is expected to grow by 3.5 per cent annually, while Russia's luxury fashion market is projected to grow at a 8 per cent per year.

Key growth drivers

Growth in BRICS fashion industry is being driven by the expanding middle class in these countries, which has more disposable income to spend on fashion and apparel. Increasing popularity of online shopping is also a significant factor, making it easier for fashion brands to reach consumers. The e-commerce market for fashion and apparel is also projected to grow, with the Indian e-commerce market estimated to reach $200 billion by 2026 and China's online fashion market expected to touch $287 billion by 2024.

Growth challenges

However, despite growth there are numerous challenges that need to be addressed. And foremost among them are sustainablity and ethical practices. Many BRICS textile manufacturers have been accused of using unsustainable production methods and exploiting workers, putting pressure on fashion brands and textile manufacturers to adopt more sustainable and ethical practices.

The industry also faces other challenges, including environmental impact and labor exploitation. Meanwhile several initiatives have also been launched, such as India's Sustainable Alternative Towards Affordable Transportation (SATAT) program and China's program to promote sustainable cotton production, to address these issues.

The pandemic has also shifted global economic power dynamics in favor of developing countries, with the BRICS nations contributing more towards global GDP in terms of purchasing power parity than the G7 industrialized nations.

The sustainable fashion market in India is expected to grow at a CAGR of 10.6% during 2021-2026 and is estimated to reach $9 billion by 2025, presenting a significant opportunity for growth and expansion, according to a report by ResearchAndMarkets.com.

The trend towards sustainable fashion in India has gained significant momentum, propelled by consumer awareness, government policies, and the availability of sustainable materials. Furthermore, sustainable fashion startups are emerging, utilizing innovative technologies and eco-friendly materials to develop unique products.

With India's large population and rich textile heritage, the potential for the sustainable fashion market in the country is immense. The use of traditional handicrafts, weaving techniques, and textiles to create sustainable fashion products caters to both local and global consumers, making the market highly promising.

However, the sustainable fashion market in India faces several challenges, such as a lack of infrastructure, fragmented supply chains, and limited market penetration. To overcome these obstacles, the government and stakeholders must invest in sustainable infrastructure, technology, and supply chains, and develop improved marketing strategies.

Influential Indian celebrities and influencers are also playing a vital role in promoting sustainable fashion and increasing consumer awareness, transforming the perception of sustainable fashion in India. The sustainable fashion market in India can continue to grow and promote sustainability and social responsibility in the fashion industry.

Hermes International, a French luxury fashion group, is now second top ranking fashion company with a market value of over $218 billion and has become the eighth-most valuable company on the pan-European Stoxx 600 index.

The company, second only to another French company LVMH Moet Hennessy Louis Vuitton valued higher, has outperformed other luxury goods brands. The catalyst for the company's recent success has been China, with demand re-emerging as Covid-19 restrictions in some cities lifted last summer. The return of free-spending American tourists to Europe has also driven sales in key luxury markets such as France, Italy, and the UK.

The company, famous for its silk scarves and the iconic Birkin bag, is increasingly confident in withstanding economic downturns, with China's post-Covid recovery and reopening seeing a bounce back in demand for high-end fashion and accessories in Asia. Demand for Hermes handbags has exceeded production capacity, with some airport stores only displaying the bags due to their unavailability, despite starting prices of $10,000 and upwards for the most popular models.

Hermes will open a new leather manufacturing plant in Louviers, Normandy, tomorrow, with plans to boost output.

India is expected to be the fastest-growing retail market this year, with retail sales increasing by 11.0% to $1.386 trillion. A swift growth in luxury spending, from less than €8 billion in 2022 to between €25 billion and €30 billion by 2030 is being fuelled by India's growing millionaire class and a rising upper-middle-class, according to Bain & Company.

As sales slow in the US and China faces an uncertain path to recovery, international brands and retailers are turning to India for growth. The opportunity has attracted a wide range of international brands, all looking to expand their footprint in the country. For some brands setting up shop in India could help offset declining revenues in other markets.

However, brands and retailers must tailor their approach to the preferences and expectations of local shoppers, such as optimizing for mobile commerce, which accounts for 82.1% of India's ecommerce sales.

With India's growing population of affluent consumers, brands and retailers view it as a key area of investment, especially as growth in other parts of the world slows.

Levi Strauss, the global denim major is bracing itself for a tough year as it faces increased costs and bloated inventories, resulting in a predicted crunch on margins. Despite surpassing quarterly result expectations, the company has been unable to protect its margins.

Levi's full-year gross margin is expected to decrease by approximately 50 basis points from the previous year's 57.5%. This is a significant change from its previous prediction of a 20 to 30 basis point expansion. Despite implementing multiple price hikes, the company has been unable to protect its margins from the escalation of costs for freight, labor, cotton, and supply chain disruptions.

Moreover, bloated inventories have forced the company to increase discounts and promotions to clear products, leading to further pressure on margins. Deliberate actions taken by brand to reduce inventories in the U.S. had coupled with a more promotional environment, resulting in greater-than-expected pressure on gross margin. However, the company still had to struggle to attract cost-conscious shoppers despite these promotions.

Levi reported an adjusted profit of 34 cents per share on revenue of $1.69 billion, which exceeded estimates. Nevertheless, the company's cautious outlook for the future has left analysts feeling uncertain.

Myanmar's garment industry has been plagued by multiple crises, from the COVID-19 pandemic to the 2021 military coup, leading to widespread exploitation and abuse of workers.

The industry was once a thriving export sector, generating $6.7 billion, but since the coup, it has seen a 25% decrease in the labor force. The situation has been exacerbated by the prevalence of "nameless factories" that operate as unlicensed workshops, where workers are more vulnerable and struggle to identify their employers when making complaints.

However, the exploitation and abuse in Myanmar's garment industry go beyond the lack of regulations and legal protections for workers. Human rights organizations have reported cases of forced labor and child labor in the industry, especially in remote areas where factories operate with little scrutiny. Workers often receive meager wages and work in hazardous and unhealthy conditions, with minimal access to healthcare or other benefits.

The COVID-19 pandemic has further worsened the situation, with factories suspending or terminating workers' contracts without proper compensation, and travel restrictions making it difficult for workers to return home or access medical care if needed. On top of these challenges, the 2021 military coup has brought increased harassment, intimidation, and violence, with some workers coerced into participating in protests or threatened with losing their jobs if they refuse to do so.

Despite these challenges, there are initiatives underway to improve the situation for workers in Myanmar's garment industry. International organizations are partnering with local groups to promote labor rights and better working conditions in factories, while others are advocating for greater accountability and transparency in the supply chain. Nevertheless, there is still a long way to go to ensure that the workers in Myanmar's garment industry receive fair treatment, decent wages, and safe working conditions.

Pure London, the UK's largest festival of Fashion, has won the Best Trade Show Marketing Campaign at the EN Awards 2023. Pure London was recognized for its July 2022 marketing campaign, beating out stiff competition in the highly coveted category.

The EN Awards, often referred to as 'The Oscars' of the global exhibition industry, is a prestigious event that attracts ambitious directors, marketing teams, suppliers, and individuals to recognize standout achievements of the year.

Gloria Sandrucci, the Event Director of Pure London, expressed her excitement, stating that she is "absolutely thrilled that Pure London won such a prestigious award and has been recognized by our industry peers." Sandrucci also praised the team for their "creativity, dedication, and hard work" in producing such a fantastic campaign.

In addition to winning the Best Trade Show Marketing Campaign, Fran Lister, Marketing Executive at Pure London, also received recognition at the event, taking second place in the awards for Best Newcomer.

Pure London provides a global platform for womenswear, accessories, and shoes brands and designers to meet with buyers, showcasing the best of the season’s must-have collections, latest trends, and exclusive business insights. The next edition of Pure London will take place at the iconic Olympia London from July 16-18, 2023.

Pure London has a 25-year heritage and over 50 shows under its belt, delivering two inspirational events each year at the iconic Olympia London. The event welcomes thousands of order-ready buyers from the UK and internationally looking to source new brands for their stores.

Spring & Autumn Fair, the UK's leading wholesale marketplaces for home, gift, and fashion, has recently announced the launch of a dedicated Community Development team to improve the buying experience of visitors.

The team aims to enhance the visitor experience and strengthen the relationship with the show. Additionally, Autumn Fair's new meetings programme, Connect @ Autumn Fair, is set to revolutionize the way buyers shop the show by providing detailed information on over 600 exhibitors, allowing buyers to filter through them and request 15-minute meetings.

The meetings are double opt-in, arranged only when both parties express mutual interest, and all take place on exhibitor stands. This allows buyers to see and feel the products, inspiring them to discover new products and trends. The meetings are designed to make it easier for buyers to find the right products and brands that their customers will love.

The Autumn Fair is the definitive 'shop for shops' and runs from September 3rd to 6th, at the NEC Birmingham

ColorJet Group, a prominent digital textile printer manufacturer, has been awarded the State Export Award for its exceptional performance in international trade.

The award recognizes companies that have significantly contributed to the country's export earnings by successfully expanding their businesses overseas. ColorJet Group has been acknowledged for its commitment to quality and innovation in its products and services, enabling the company to establish a strong reputation in the international market.

M.S Dadu, Chairman of ColorJet Group, attributed the company's success to the hard work and dedication of the entire team and its investment in developing indigenous technology to meet international standards and regulations, enabling it to expand its business across 30 countries worldwide.

The company's Innovation Laboratories, recognized by the Ministry of Science & Technology, Govt. of India, constantly innovate and integrate digital print technology that wins world markets.

Since its establishment in 1995, ColorJet Group has been providing complete fabric printing solutions and is one of the top global exporters of wide-format printers. The company markets its products in about 30 countries worldwide and has installed over 5,000 printing solutions and products in 450 cities worldwide, supported by a strong team of 350 members.

Munich Fabric Start Exhibitions GmbH has announced its plan to offer full flexibility with the positioning of its trade show formats for sourcing Autumn/Winter 24/25 collections. In a correction of the previous press release, the date of BLUEZONE, KEYHOUSE, and THE SOURCE has been changed to 18-19 July 2023.

The trade shows will continue to maintain their importance in the international trade show scene, moving ahead and increasing their relevance in the fashion industry. The international fabric trade show, MUNICH FABRIC START, along with KEYHOUSE, THE SOURCE, and BLUEZONE, making it an impulse generator for the fashion industry.

Meanwhile, the September date will continue to serve as an important time for follow-ups and for picking up on new and short-term market developments with reVIEW, the new concept of the VIEW PREMIUM SELECTION.

The new schedule offers full flexibility to visitors, including internationally important fabric and trim exhibitors, renowned agencies, top European weavers, and textile designers, providing them with more time for further developments.

Important exhibitors, including returnees, such as Ballesio, Cadica, Discovery Denim, East & Silk, Fauck, Lanificio Campore, Mapel, Naveena Denim, Pricoh’s, Sintopel, Sourcetextile, Studio 9, Taiwan Textile Federation, and YKK, as well as new entries like Esdigital, IBERIS Lda, Jeanius, Jersey Print Factory, Lucky Textile Group, Marjomotex, Neelams Itl, Splash by Lo, Victor Texteis, and Wouters have already confirmed their participation, along with many others.