Sharaf Group, a prominent retail conglomerate, is planning to open 17 new stores globally in 2023 as part of its growth plans.

The group has recently expanded its footprint in the Middle East's lifestyle market with the opening of two new Forever 21 stores in Muscat, Oman. With the opening of the new Forever 21 stores, Sharaf Retail further cements its strong presence in the Middle East, where it already has stores in Bahrain, Kuwait, Qatar, Saudi Arabia, and the UAE.

The new stores, located in popular shopping destinations Mall of Oman and Oman Avenues Mall, offer a combined shopping space of 20842.12 sq. ft., in line with the group's expansion strategy in the region.

The new stores will provide a wide range of trendy and affordable clothing, shoes, and accessories for men and women, including the latest styles and classic pieces suitable for any occasion.

The United Arab Emirates (UAE) and Cambodia have recently finalized discussions on a Comprehensive Economic Partnership Agreement (CEPA) after three rounds of negotiations that began in December of the previous year.

The agreement, which covers trade, customs procedures, sanitation and phytosanitary, investment, digital trade, intellectual property, small and medium enterprises, dispute resolution mechanisms, and provisions for services, is expected to be signed by both parties this year.

Cambodia aims to explore the export potential of various products, including garments, footwear, and travel goods, to the UAE.

CEPA will contribute to the strengthening of bilateral relations by opening market channels more widely, providing more investment opportunities for mutual benefits, and deepening cooperation in other economic activities.

This agreement marks a significant milestone in the economic relations between the UAE and Cambodia and is expected to boost trade and investment between the two countries.

Messe Frankfurt, the global trade fair organiser, has signed a memorandum of understanding (MoU) with the Vietnam Trade Promotion Agency (VIETRADE) to explore the potential for a comprehensive new trade fair in Vietnam.

The two organisations will focus initially on the textile and consumer goods industries in the country. This move marks Messe Frankfurt’s latest step in expanding its involvement in South East Asia.

The new venture aims to build on Messe Frankfurt’s 16 years of experience operating in Vietnam and create new opportunities for trade in textiles and consumer goods.

Further details about the potential new trade fair would reveal at a later date.

China's apparel exports to the United Arab Emirates (UAE) experienced a decline in 2022, totaling $2.627 billion, compared to $2.810 billion in the previous year.

The COVID-19 pandemic had a significant impact on outbound trade in 2020, but China's exports bounced back in 2021. Despite this recovery, exports decreased again in 2022. Nevertheless, China remains a significant supplier of apparel to the UAE.

During 2017, exports to the UAE peaked at $3.251 billion before declining to $2.462 billion in 2018 and $2.445 billion in 2019. The pandemic resulted in a significant reduction in trade to $1.639 billion in 2020. However, China managed to revive its apparel trade with the UAE in 2021, with exports reaching pre-COVID levels of $2.810 billion. Unfortunately, trade eased down again in 2022 to $2.627 billion.

The impact of COVID-19 on China's quarterly apparel exports to the UAE was profound, with exports in Q2 2020 falling to just $321.948 million. However, as COVID-19 infections subsided, exports increased to $825.977 million in Q2 2021. Despite this resurgence, quarterly exports dropped to $755.704 million in Q2 2022, $755.049 million in Q3 2022, and $562.340 million in Q4 2022.

Trousers and shorts were the most dominant products in China's apparel exports, accounting for 20.92% of the total exports. Among the top five products, jackets and blazers accounted for 11.79%, jerseys for 9.81%, dresses for 8.57%, and accessories for 7.20% of the total apparel exports.

India should aim to export USD 350 billion worth of goods through e-commerce by 2030, according to a report by economic think tank GTRI.

Despite India's strengths in high-demand customized products, expanding seller base, and higher profit margins per unit of export, its current e-commerce export numbers remain far below their potential. Currently, e-commerce exports account for only USD 2 billion, less than 0.5 per cent of the country's total goods export basket.

To fully realize the potential of e-commerce exports, the report suggests developing the ecosystem for e-commerce exports and issuing a separate e-commerce export policy. The GTRI recommendations raising the value cap for e-commerce exports from Rs 5 lakh to Rs 25 lakh to allow exporters to choose the shipment mode as per their business requirements.

The report recommends that the government formulate a separate policy for e-commerce exports to address the pain points of the sector. Exporting through e-commerce channels can result in higher profits per unit of export, as businesses can cut out intermediaries like indenting agents, bulk buyers, and shopkeepers. The internet, technology, and secure online payments have made exporting via e-commerce simple and safe, enabling small firms from a wide range of cities and regions to participate in international trade. Over 100,000 Indian sellers are already exporting through e-commerce, and this number is set to multiply.

Fashion brands such as Zara, Nike and others are adopting omnichannel retail strategies to improve the customer experience and stay competitive in the industry.

According to IDC, omnichannel retailers experience a 15-35% increase in average transaction size, a 5-10% increase in profitability, and a 30% higher lifetime value than single-channel retailers.

Zara's strategy includes a "click and collect" service, RFID tags, and automated inventory management systems to provide real-time inventory visibility and reduce delivery times and costs. They have also expanded their distribution network and offer multiple return options.

Nike's strategy involves investing in technology, influencer marketing, and personalized customer experiences. They provide real-time inventory visibility across their stores, website, and mobile app, and offer free in-store pickup. Nike has also opened concept stores with immersive experiences to build brand loyalty.

Adopting an omnichannel strategy is crucial for retailers to meet the evolving demands of consumers and increase profitability. By investing in technology, inventory management, logistics, and marketing, retailers can create a seamless brand experience that enhances customer satisfaction and drives business growth.

Tamil Nadu's textile industry, which accounts for one-third of India's textile business size, has been playing a crucial role in the country's economy as the second-largest employment provider after agriculture.

The Southern India Mills' Association (SIMA) Chairman, Ravi Sam, has praised the government's recent initiatives to enhance the competitiveness of the powerloom sector in Tamil Nadu, which will benefit 1.64 lakh powerloom weavers and increase the scale of operations and value addition.

The State Budget 2023-24 has announced the establishment of new SIPCOT industrial parks in Virudhunagar, Vellore, Kallakurichi, and Coimbatore, along with the allocation of a PM MITRA mega textile park scheme by the Union Government to Tamil Nadu. The infrastructure support provided by the government of Tamil Nadu through this budget is expected to provide infrastructure facilities for textile processing, the weakest link in the textile value chain. Furthermore, the announcement of 10 mini handloom parks and new industrial parks in the clusters of Virudhunagar, Vellore, Kallakurichi, and Coimbatore will provide employment opportunities to nearly 22,000 persons.

Ravi Sam appreciated the government's announcement of releasing a new Textile Policy with a focus on holistic development of the entire value chain, latest design development, and textile machinery manufacturing. The SIMA Chairman hoped that the budget announcements would work as a growth engine for the economy of the State.

Bangladeshi apparel exporters are lobbying major trading partners and blocs to support its efforts to extend the duty benefits the country currently enjoys for at least six more years.

The move comes as Bangladesh prepares to graduate from the group of least-developed countries to a developing country in 2026, which will likely result in the loss of its duty-free market access.

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has called for a six-year transition period to help apparel exporters remain competitive in global markets. While the EU and the UK have already announced a three-year transition period, the BGMEA believes that a longer period is necessary due to the fallout from the Covid-19 pandemic and the war between Russia and Ukraine.

The BGMEA will meet with officials from the EU, Germany and other major trading partners to gain support for the extended transition period. The BGMEA also intends to request duty-free market access for apparel items made with US cotton and shipped to the US markets, as well as to work with the US government to address the shipment of counterfeit products from Bangladesh.

The tennis apparel market in Americas is set to grow by USD 82.08 million between 2022 and 2027, with a compound annual growth rate (CAGR) of 3.7% during the forecast period, according to a new report by Technovia.

The growth of the market is attributed to the increasing awareness about the health benefits of sports and the growing adoption of a healthy lifestyle among the urban population. This trend is driving people to involve themselves in sports activities, such as tennis, to stay fit and healthy.

It is observed that the offline distribution channel segment will be the most significant growth driver during the forecast period. This segment includes revenue generated from physical retail stores such as dealer stores, departmental stores, hypermarkets, and supermarkets. The increase in the number of such stores is expected to drive the growth of the segment.

However, poor infrastructure for tennis is identified as one of the major challenges affecting market growth. The lack of support for the sport in some regions reduces the growth potential for vendors. For instance, the expenditure on development programs for the sports industry, especially tennis, is lower in South American countries when compared to other regions.

Bangladesh’s garment exports to India surges significantly to over 61 % to $753 million during the first eight months of the current fiscal year of Bangladesh. The surge in imports to India has been attributed to the high-quality and affordable clothing produced in Bangladesh, which is in high demand in India.

In the past, India has expressed concerns over the surging imports of garments from Bangladesh. The Indian government has voiced its concern over the growing trend of imports from Bangladesh, which has put the domestic garment manufacturing industry at risk.

The Indian garment industry is one of the country's largest employers, and the rise in imports has led to a decline in domestic production, leading to job losses and decreased revenues.

The Indian government has urged the industry to improve its competitiveness and quality to better compete with the imports from Bangladesh. At the same time, efforts are underway to strengthen the domestic industry, such as providing incentives to textile manufacturers and streamlining regulations to reduce the cost of doing business.

Despite these measures, it is likely that we will see further growth in imports from Bangladesh to India in the future, as both countries continue to work together to enhance trade ties.

The rising imports from Bangladesh are a challenge for the Indian garment industry, but with the right policies and strategies, it can remain competitive and thrive in the face of this new competition.