At the 41st annual general meeting in Dhaka, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) appointed certain new members to its board of directors. Prominent amongst these is the appointment of SM Mannan Kochi as the new president for the term 2024-2026. 

President Kochi is joined by a prominent team including Syed Nazrul Islam as the first Vice President of the association, Khandoker Rafiqul Islam as Senior Vice-President, and Arshad Jamal Dipu, Md Nasir Uddin, Miran Ali, Abdullah Hil Rakib, and Rakibul Alam Chowdhury as Vice Presidents. This dynamic leadership is poised to drive the garment industry towards further growth and innovation.

The restructuring extended to include directors from Dhaka and Chittagong. Noteworthy members from Dhaka include Shahidullah Azim, Asif Ashraf, and Shovon Islam, while Chittagong is represented by figures such as Mohammed Musa and Amzad Hossain Chowdhury.

The consolidation of the leadership under the Sammilito Parishad underscores a unified vision for the industry's advancement. Kochi’s appointment marks a pivotal moment as he succeeds Faruque Hassan, taking on the responsibility to maintain the association's legacy of excellence and service.

The outgoing board facilitated a smooth transition, ensuring continuity and efficiency in BGMEA's operations. At the AGM, critical matters such as the adoption of audited accounts for 2022-2023 and the approval of the budget for 2023-2024 were addressed, reflecting the board's commitment to fiscal responsibility and transparency, crucial for sustaining the industry's competitiveness.

India’s cotton production is likely to decline by 2 per cent to 25.4 million bales of 480 Ib during the 2024-25 period, predicts Foreign Agricultural Service (FAS) by USDA. 

Farmers are likely to divert their attention from cotton to crops like pulses, maize, and paddy due to their potentially higher returns, impacting cotton production.

The projected area under cotton cultivation is expected to decline to 12.4 million during this period. However, cotton yields are expected to rise by 2 per cent to reach 446 kilograms per hectare in the upcoming season.

Cotton consumption is also set to increase by 2 per cent compared to the previous year, reaching 24.5 million bales of 480 lb.

Cotton exports for 2024-25 are projected to hit 2.4 million bales of 480 lb, backed by higher carryover stocks and a depreciating rupee. The first six months of 2023-24 witnessed a significant rebound in exports of value-added cotton products, particularly cotton yarn and fabric, signaling resurgence in mill consumption. 

With the removal of import duty on extra-long staple (ELS) cotton, imports are expected to rise by 20 per cent to 2.4 million bales of 480 lb.

China’s apparel industry faced numerous challenges in 2023. A slowdown in global economy, decreasing demand, trade wars put pressure on the clothing sector. And even in 2024 the challenges remain. 

Statistical overview

As per Global Data, China’s apparel market size is CNY 2.89 trillion projected to grow at a CAGR of over 9 per cent from 2023-27. National Bureau of Statistics reveals apparel production of enterprises above designated size declined by 8.69 per cent year-on-year in 2023. At the same time, Domestic retail sales of apparel above designated size grew by 15.4 per cent year-on-year in.

As per China Customs, apparel exports were $159.14 billion, down 7.8 per cent year-on-year. The National Bureau of Statistics reveal investment in fixed assets decreased by 2.2 per cent compared to 2022. Total profit of apparel enterprises above designated size was CNY 61.38 billion, down 3.39 per cent year-on-year.

Challenges in moving ahead

One major challenge was weakening global demand due to a slowdown in major markets and rising competition from Southeast Asia threatening exports. Geopolitical tension was another hitch as trade protectionism and global instability create uncertainty. Also, high inflation and interest rates in developed economies limited consumer spending.

Domestic market a big opportunity

Economic stabilization and consumption recovery presented a strong domestic market. Government policies too promoted consumption and rising domestic incomes presented good opportunities to explore second-tier cities and emerging consumer groups.

Then the focus shifted to emerging markets which have the potential for faster growth in apparel demand also cross-border ecommerce was another lure. Growth in sportswear, Chinese fashion, and sustainability trends too offered new opportunities. This was also the time to move towards high-end, smart, and sustainable clothing. This was also the right time for digital transformation which involved upgrading manufacturing with intelligent equipment and supply chain optimization.

What 2024 beholds

In the international market there is potential for stable exports due to rising inventory demand in developed countries, growth in emerging markets, and cross-border e-commerce. However, challenges remain with trade protectionism and geopolitical risks; lagged effects of tightening monetary policy in major economies; increased competition from Southeast Asia and South Asia; potential appreciation of the RMB

However, the domestic market is expected to continue recovering due to favourable government policies promoting consumption; stable employment and rising incomes; new urbanization and rural revitalization strategies; rise of new consumer groups and trends.

Moving ahead apparel enterprises need to adapt to the evolving landscape by focusing on innovation, developing high-end, smart, and sustainable products. Building brand and channel strength. Expanding brand marketing and exploring new sales channels like e-commerce. Optimizing supply chains by improving efficiency and agility to meet changing demands. Targeting new markets and capitalizing on opportunities in emerging markets and catering to new consumer trends.

A new study by Price Waterhouse Cooper (PwC) titled 'From Shirts to Shores: Blueprint for Bangladesh RMG Industry' sheds light on an intriguing transformation within the global apparel sector towards garments made from man-made fibers (MMF). According to the report, there will be notable increase in MMF garment exports, with projections indicating an increase from 50 per cent in 2022 to 60 per cent by 2030. This transition carries profound implications not only for the textile industry but also for various stakeholders along the value chain.

Effects on raw material production

Traditionally dominated by cotton, the apparel industry is witnessing a shift towards MMF due to its inherent advantages such as wrinkle resistance, durability, and versatility. This change may potentially lead to a decline in demand for raw cotton, affecting countries reliant on cotton production. However, the overall impact might be cushioned by the anticipated growth in the global apparel market.

Fibre Production and Demand Dynamics

A critical aspect highlighted in the study is the capacity of fibre production to meet the escalating demand for MMF garments. With the global apparel market expected to grow from $953 billion in 2022 to $1,121 billion by 2030, the proportion of MMF garments is set to increase. 

While precise data on current and projected MMF production capacity is lacking, there is a possibility of a gap emerging between demand and supply. This gap could spur investments in MMF production to bridge the deficit.

Potential beneficiaries of growing MMF demand

The transition towards MMF garments offers promising prospects for several countries.

• MMF producers: Established MMF producers like China and India are poised to benefit significantly. Moreover, countries emphasizing innovation and the development of MMF technologies could emerge as frontrunners.

• Garment manufacturers: Nations with a robust presence in garment manufacturing, such as Bangladesh and Vietnam, have the opportunity to adapt their production capacities to cater to MMF efficiently.

• Fabric and yarn manufacturers: The heightened demand for MMF fabrics and yarns presents opportunities for manufacturers capable of meeting this growing market demand. Established producers like South Korea and Taiwan are well-positioned to capitalize on this trend.

• Fiber production: Countries specializing in the production of raw materials for MMF, such as polyester precursors, are expected to thrive. This could particularly benefit major chemical producers in regions like the Middle East and North America.

In essence, the PwC study underscores a significant shift towards MMF garments in the global apparel industry. While this transition brings forth numerous opportunities, it also raises concerns regarding potential disruptions in raw material supply and the capacity of fibre production to meet escalating demand. Countries adept at adapting to and capitalizing on this shift, particularly in MMF production, garment manufacturing, and fabric/yarn production, are poised to emerge as major beneficiaries.

Estimated at $10 billion in FY24, India’s home textiles market is slated to expand at 7 per cent CAGR over FY24-FY31 to $16 billion. As per a report by the Systematix Group, India accounted for almost 10 per cent of global home textiles trade in 2022. It currently is one of the top suppliers to the US, the world's biggest home textile consuming market. 

India’s notable strides in quality improvement, innovations through R&D programs, and other preferential value-added features contributed to growing popularity of India's home textile products in the global market. 

Renowned for their superior quality products, Indian companies have established themselves as leaders in the US and the UK, with these regions constituting two-thirds of India’s exports.

 India has also emerged as a major exporter of home textiles with exports forecasted to grow at 8 per cent CAGR to $12 billion by FY31. The domestic home textiles market is also expected to grow with the demand for branded products continuing to rise in the country. 

The value of the overall textile and apparel (T&A) market in India is estimated to have reached $175billion in FY24 as per Wazir Advisors. Of this, the domestic market contributed 79 per cent and exports accounted for 21 per cent of the market size. From $50 billion in FY11, India’s domestic T&A market is expected to have grown to $38 billion in FY24. The Ministry of Textiles expects the market to grow faster than the global textile industry at 9 per cent CAGR to $250 billion by FY31. 

Better Work initiative has launched its operations in Egypt to enhance working conditions in the ready-to-wear (RTW) industry, and foster business growth. The program had successfully launched a preliminary pilot phase between July 2017 and December 2018. It now aims to enhance its presence for a long term in Egypt, particularly in Umm Al Donia.

Better Work aims to not only improve the laborers’ working conditions in Egypt but also promote compliance with both national and international core labor standards. To kickstart its operations, Better Work will provide factory assessments, advisory services, and training programs to promote responsible business practices. The initiative will, initially, focus on collaborating with 30 factories, with plans to expand its reach as progress is achieved.

A part of the International Labor Organisation, Better Work operates in 1,700 factories across various countries such as Bangladesh, Jordan, Nicaragua, Haiti, and Cambodia, benefiting approximately 2.4 million workers. Its expansion in Egypt will enable the initiative to continue improving working conditions and driving positive change in the RTW industry.

As part of its accelerated growth strategy in the United States, renowned Japanese apparel giant, Uniqlo plans to open over 20 new stores in North America this year. 

Uniqlo will inaugurate 11 new stores across Texas and California in 2024. In Texas, the brand’s stores will be established in Houston and Dallas while in California its outlets will be launched in San Diego and Sacramento. 

These forthcoming openings will help Uniqlo to boost its North America store count to 200 by 2027 as the brand concentrates on both regions where it already has a presence and emerging markets across the nation. Presently, Uniqlo operates 74 locations across North America.

Yoshihide Shindo, CEO, Uniqlo USA, says, there is positive demand for UniqloLifeWear products in Texas as they perfectly serve the needs of the diverse lifestyle and climate across Houston and Dallas. The brand also remains committed to the West Coast as it responds to the robust interest from consumers in regions such as San Diego and Sacramento, he adds.

In North, Uniqlo’s operations attained profitability in fiscal year 2022, followed by significant growth in the fiscal year ending on August 31, 2023.

Globally, Uniqlo operates more than 2,400 stores, including 74 locations in North America. As part of Fast Retailing Co, headquartered in Tokyo, Japan, Uniqlo contributes to the company's substantial global sales, which reached approximately $18.92 billion for the fiscal year 2023. Fast Retailing stands as one of the world's largest apparel retail companies.

To redefine the conventional limits of denim while spearheading eco-conscious initiatives in 2024, Twin Dragon Marketing Inc (TDMI) plans to showcase its Cashmere Denim collection at Kingpins Amsterdam from April 24-25, 2024.

Launched earlier this year, the Cashmere Denim line comprises garments crafted from 100 per cent recycled polyester fibers. It boasts a dtex finer than cashmere for a plush, opulent texture, describes Stephanie Poon, Director-Marketing and Merchandising, TDMI. While the collection doesn't contain actual cashmere wool, it offers the same luxurious softness and comfort, uniquely blended into denim. 

Moreover, its anti-see-through feature ensures confidence and modesty, particularly for white clothing, while integrated ultraviolet (UV) protection and moisture-wicking properties provide coolness and comfort, even in warmer climates.

Poon emphasises. the Cashmere Denim collection embodies a commitment to sustainability. As an extension of TDMI's AtmoS concept—a line dedicated to incorporating innovative recycled fibers—the collection epitomises responsible fashion. Comprising a blend of cotton, recycled polyester, and spandex, it not only reduces environmental impact but also offers durability that stands the test of time.

For environmentally-conscious consumers, Cashmere Denim offers a guilt-free indulgence. Its versatility makes it suitable for all seasons and occasions, from daytime activities to evening events, reducing the need for multiple wardrobe changes and promoting conscious consumption.

Whether it's a casual outing or a formal event, Cashmere Denim seamlessly transitions from day to night, offering versatility without compromising style or sustainability, remarks Poon. By choosing Cashmere Denim, fashion enthusiasts not only embrace luxury but also advocate for a brighter, more sustainable future for the planet and its inhabitants, he adds. 

As the festival fashion season approaches, denim brands are embracing bohemian flair and laid-back vibes to cater to attendees' style needs.

Online fast-fashion giant Shein plans to sponsor the renowned country music festival Stagecoach that will be held from April 26-28, 2024 in Indio, California. 

For this festival, the e-commerce company will unveil a western-inspired clothing collection epitomising cowboy chic and desert glam aesthetics. The lineup will include fringe tops, bedazzled denim pieces, metallic boots,etc, designed to capture the essence of the event.

As part of their sponsorship, Shein will introduce the Shein Saloon, a vibrant activation crafted from shipping containers. Attendees can indulge in gifting opportunities and engage in activities like karaoke, mechanical bull riding, and refreshments at the bar. George Chiao,President, Shein US, says, a synergy between music and fashion, the festival will endorse western-inspired styles.

Another noted denim player, Lucky Brand will launch its Festival Finds collection that will play a homage to the western theme. The women's collection will feature Bermuda denim shorts, denim maxi skirts, and a denim corset dress, complemented by ruffled tops and boho dresses. Men's options will include denim Western shirts, bootcut jeans, and bolo ties. Lucky Brand will also offer one-of-a-kind upcycled pieces, demonstrating a commitment to sustainability and artisanal craftsmanship.

Meanwhile, Levi’s will launch a collection of loose-fitting tops and relaxed jean fits. Their collection includes unisex tops, tropical-print resort shirts, open-knit button-down shirts, and rugby stripe polos. For women, Levi’s will introduce the Ingrid shrunken jacket and a variety of bottoms, from miniskirts to Mom jean shorts. Men's options will feature zip-off utility pants and striped tees, reflecting a casual yet trendy aesthetic.

The ‘Festival Shop’ collection by teen specialty retailer Pacsun will embrace Southern Californian vibes with its collection stocked with boho essentials. The brand’s women’s range will offer sustainably sourced denim shorts and loose-fitting jeans, complemented by retro tops and crochet bikinis. The men's lineup will include graphic tees, cargo pants, and soccer-style shorts. Pacsun will also launch a special Festival Shop for Stagecoach, aligning with its commitment to catering to festival-goers' fashion needs.

Pacsun will present a captivating music video featuring Ronnie Watts' original song ‘Fast, Fast, Fast.’ This initiative is part of Pacsun Collective, a new endeavor that invites various creatives to shape the brand's campaigns and merchandise, fostering self-expression and unity among its audience.

Firmly establishing itself as a frontrunner in sustainability, textile stalwart Nahar Group aims to be coal-free by 2024-end, thus affirming their commitment to a greener future.

Nahar Group’s commitment to sustainability is evident through diverse energy generation initiatives. Nahar Industrial Enterprises alone produces a substantial 25.8 MW of electricity, supplemented by contributions from sister companies and wind turbines in Madhya Pradesh and Karnataka. This reduces dependence on conventional power sources by an impressive 12 percent.

Aligned with the United Nations' 17 Sustainable Development Goals, Nahar Group is actively involved in creating sustainable communities, promoting health, education, gender equality, fostering job growth, economic development, and encouraging responsible consumption.

Nahar's sustainability commitment is ingrained in its operations, evident in initiatives such as adopting green chemistry in processing plants, supporting social responsibility efforts, and transitioning transportation fleet to Compressed Natural Gas (CNG) to reduce diesel consumption and CO2 emissions.

Furthermore, Nahar is working to reduce plastic consumption in packaging and actively embraces technological advancements to reduce energy consumption. Initiatives like salt-free dyeing and water recycling underscore their dedication to sustainable practices.

In the short term, Nahar's focus lies in developing value-added fabrics and technical products like flame retardant and antistatic materials, aligning with the vision of 'Made in India' and supporting the Prime Minister's 5F vision.

Looking ahead, Nahar aspires to create a network with domestic and export customers based on shared values and sustainability principles, fostering long-term partnerships and elevating India's standing in the global market.