COVID 19: An opportunity for luxury brands to create stronger value
The pandemic has brought profound challenges for the global luxury goods industry. As per a Bain & Company report, luxury goods sales fell to $331 billion in 2020. They are expected to reach 2019 levels only 2022-end or early 2023. A Forbes report estimates 2021 to be a year of transition for the luxury f... Read more
Green energy projects need policy support to boost COVID-19 recovery
Nearly all governments across the world have announced fiscal stimulus packages for their economies to recover from the effects of COVID-19. However, the proportion of funds allotted for sustainability initiatives in these packages is much lower than those announced during the Great Recession, says a report b... Read more
Ready To Show & Virtual Fashion Tour Italy successfully concluded
Ready To Show & Virtual Fashion Tour, Italy the duo virtual concurrent events were concluded successfully recently. Held between March 16-19, 2021, the virtual events, first of its kind, were aimed at giving international apparels, accessories, textiles and leather manufacturers direct access for so... Read more
USTR recommends tariff on fashion imports in reply to digital service …
In January this, year, USTR announced plans to indefinitely suspend Section 301 tariffs on certain luxury goods from France. This was in response to the discriminatory digital service tax levied France on certain US digital companies. A report by the Fashion Law terms this tax as being inconsistent with the p... Read more
7th ITMF Corona Survey: Optimistic future with a drop in turnover decl…
The 7th ITMF Corona Survey brings some cheer to the textile industry. The survey reveals the turnover of global textile companies declined 9 per cent in 2020. However, this decline is significantly better than the expected drop of 33 per cent in 3rd survey conducted at the peak of Corona wave in April 202... Read more
RMG focus can help Pakistan counter impending textile slowdown
As against the entire world, COVID-19 has proved to be a blessing in disguise for the Pakistan textile sector. The country has not only received backlogged orders but also orders diverted from other regional countries like India and Bangladesh. As per Business Recorder, against 5.6 per cent growth recorded du... Read more
Indonesia needs to focus on trade promotions to boost falling T&A …
COVID-19 changed public consumption patterns across the world last year. As per Indonesia’s industry ministry, consumption of textile and apparel products (T&A) declined to -8.8 per cent on an annual basis during the year. And as Redma Wirawasta, Secretary General, Association of Indonesian Fiber an... Read more
Pandemic leaves a permanent mark on fashion retail
The pandemic caused a seismic shift in fashion retail last year and retailers expect this change continue in future. Figures from UK’s Office of National Statistics show, fashion sales plunged 75.7 per cent and 49.3 per cent in March and April last year. By the end of the year, clothing sales declined a... Read more
Digital-first strategy makes fashion companies future-ready
To tide over disruptions like COVID-19 and become future-ready, fashion companies need to align themselves to new trends, says a new survey by IMD’s Center for Future Readiness. Pointing to the latest financial results of footwear and apparel brand Nike, the survey highlights its sales growth to $10.36 ... Read more
Cutting consumption can reduce industry’s reliance on polyester
With lockdowns increasing demand for activewear, there has been 80 per cent rise in use of recycled polyester since 2019, says a report by The Gaurdian. A recent McKinsey & Company survey also finds a 151 per cent rise in search for sustainable activewear while 67 per cent consumers were seen scouting for... Read more
Sustainable business model can help Bangladesh maintain its position i…
For years, Bangladesh reigned as the world’s most preferred apparel sourcing destination. However, a 2019 survey published by the Chief Procurement Officers of McKinsey & Company had highlighted Vietnam’s rising power in world apparel market. Titled ‘What’s next for Bangladesh&rsqu... Read more
The Lycra Company appoints new Chaiman
The leader in developing innovative solutions for the textile, apparel, and per... Read more
Textile and apparel companies increase investments in Madhya Pradesh
Many textile and apparel companies are increasing their investments in Madhya P... Read more
Issue directives for forensic audit of yarn producers, urges PGRMEA
The Pakistan Readymade Garment Manufacturers and Exporters Association (PGRMEA)... Read more
Indian textile makers to export fabrics to Kenya
Indian textile makers are planning to export fabrics for making clothes, carpet... Read more
Euratex expresses concerns over supply chain disruptions following COVID-19
In its Quarterly Economic Update, Euratex has expressed concerns over global su... Read more
US apparel imports decline 13.84 per cent: OTEXA
Despite pickup in demand and vaccine roll out, US apparel imports declined by 1... Read more
US Cotton Trust Protocol becomes a member of Sustainable Apparel Coalition
The US Cotton Trust Protocol has become a member of the Sustainable Apparel Coa... Read more
RCI to foster network amongst members
Renewable Carbon Initiative (RCI) aims to foster networks among members and bui... Read more
Kering completes Phase I of global logistic hub in Italy
Kering has completed the first phase of new global logistics hub in Trecate, No... Read more
Clean Clothes Campaign introduces Europe Floor Wage
Clean Clothes Campaign has introduced the Europe Floor Wage: a cross-border bas... Read more
RCI to foster network amongst members
Renewable Carbon Initiative (RCI) aims to foster networks among members and bui... Read more
Kering completes Phase I of global logistic hub in Italy
Kering has completed the first phase of new global logistics hub in Trecate, No... Read more
Clean Clothes Campaign introduces Europe Floor Wage
Clean Clothes Campaign has introduced the Europe Floor Wage: a cross-border bas... Read more
With vaccine rollout, Levi Strauss raises revenue growth forecast
And much like Levi Strauss, several apparel retailers like Nike and Kohl’... Read more
Textile and garment manufacturers call for reduction in yarn prices
Textile and clothing manufacturers are urging the government to reduce yarn pri... Read more
Huntsman Textile Effects, Scieesent team up for new microbial solutions
Huntsman Textile Effects and Scieesent have partnered to launch new microbial a... Read more