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Activewear brand Lululemon and Australian biotech firm Samsara Eco have entered into a 10-year supply agreement, according to which the brand will increase recycled raw materials sourcing from Samsara Eco significantly. This will help accelerate Lululemon's shift toward a more circular business model and could provide up to 20 per cent of its total fiber portfolio by 2030.
The agreement builds on a successful collaboration between the two companies. Their previous joint efforts resulted in the development of the world’s first enzymatically recycled nylon 6,6 sample and the launch of Lululemon’s limited-edition Packable Anorak, made from enzymatically recycled polyester. These innovations maintain the technical performance and aesthetic qualities associated with Lululemon products while utilizing fully recycled materials.
Scaling circular materials requires bold partnerships and a shared commitment to rethinking how our industry operates, says Ted Dagnese, Chief Supply Chain Officer, Lululemon. As the brand works toward its 2030 impact goals, it continues to invest in multiple partnerships to advance solutions and help reduce reliance on fossil-fuel derived resources.
Polyester and nylon are among the most common fibers used in the textile industry, accounting for about 60 per cent of global fiber production. Samsara Eco has pioneered the use of engineered enzymes to break down these materials, including mixed fibers and plastics, into their original molecular building blocks. These can then be reconstituted into new materials suitable for existing manufacturing processes.
Paul Riley, Founder and CEO, Samsara Eco, states, the company’s expanded partnership with Lululemon helps create a fully circular ecosystem besides highlighting the industry’s commitment to transition to more circular materials.
To support the scaling of its enzymatic recycling technology, known as EosEco, Samsara Eco is preparing to open a new production plant in Jerrabomberra, New South Wales. An international commercial facility is also slated to open in 2028 to help meet growing demand.
Following Brazilian pulp giant Suzano's decision to halt further investment in their joint venture, Finnish textile fiber innovator Spinnova is revising its corporate strategy.
The company plans to reduce both production and investment costs by continuing to refine its fiber concept. To facilitate this, Spinnova intends to form an international consortium of partners around the company’s planned acquisition of Woodspin and Suzano Finland, assets that include a demonstration factory and micro fibrillated cellulose refining operations.
According to Janne Poranen, CEO, the company plans to focus on reducing its production and investment costs in 2025-26. Besides, the company also aims to enhance fiber characteristics for both textile and non-textile applications, and continue research into raw materials using wood-based and other cellulosic sources. A key element of the new strategy involves supporting the Respin JV with ECCO, which seeks to commercialize fiber solutions derived from leather waste.
Furthermore, the company aims to achieve annual savings of €500,000 through consolidating its facilities in Jyväskylä, Finland. Spinnova's innovative technology transforms wood pulp and various waste materials into textile fiber without relying on harmful chemicals or dissolving processes. The resulting fiber is biodegradable, recyclable, and produced with minimal CO₂ emissions and water usage, offering a sustainable alternative to traditional materials.
Turkiye’s textile and apparel (T&A) exports experienced mixed results during the January-May 2025 period, according to a report by the Istanbul Textile and Apparel Exporters’ Association (iTHiB).
While overall textile and raw materials exports witnessed a modest increase, apparel and garment shipments declined.
Notably, Turkiye’s T&A exports to Egypt increased by up to 50 per cent in the first five months of 2025. This significant rise contributed to the overall 1.6 per cent increase in Turkish textile and raw materials exports, reaching $4.8 billion. However, apparel and garment exports decreased by 7.2 per cent to $6 billion compared to the previous period.
Geographically, Turkiye’s textile exports to the European Union (EU) rose by 0.6 per cent, totaling $2 billion. Exports to African nations expanded by 24 per cent to $650.2 million. In contrast, shipments to American countries contracted by 2 per cent, reaching $386 million. The most substantial increase in textile exports was observed in Asia and Oceania, with a 27.6 per cent rise to $370.8 million.
Italy remained the top destination for Turkiye’s textile and raw materials, showing a 0.7 per cent increase. However, the United States and Germany registered declines of 0.9 per cent and 2.6 per cent, respectively. Spain followed with a 2 per cent increase, while exports to Egypt recorded a substantial 44 per cent rise.
Technical textiles emerged as the leading product group in exports, growing by 5.8 per cent to $987 million. Nonwovens accounted for 34.5 per cent of this category. The US, Germany, and Italy were the primary recipients of technical textile exports, with Morocco experiencing the highest increase at 38.4 per cent.
Woven fabrics followed with exports decreasing by 1.5 per cent to $978 million. Cotton woven fabrics exports represented 38.7 per cent of this category, while SSE filament woven fabrics accounted for 37.8 per cent. Yarn exports increased by 5.1 per cent to $957 million, with Italy, Egypt, and Portugal being key markets.
Conversely, knitted fabric exports declined by 8.4 per cent, and home textiles saw a 1.7 per cent decrease. On a positive note, denim fabric exports increased by 19.1 per cent, reaching $128 million.
Bangladesh's synthetic footwear sector is quickly emerging as a vital component of the country's export diversification efforts.
While leather footwear still leads with $620.17 million in exports during the first 11 months of the FY24-25 with a 28.96 per cent Y-o-Y increase, the synthetic, or non-leather, footwear segment is rapidly catching up. According to Export Promotion Bureau (EPB) data, non-leather footwear exports reached $494.28 million in the same period, marking an impressive 30.25 per cent growth from $379.48 million recorded a year prior.
Industry insiders attribute this swift rise to Bangladesh's robust manufacturing base, fewer regulatory obstacles, and increasing global demand for affordable, fashionable, and sustainable footwear. Unlike leather products, which require extensive certifications and face raw material sourcing and environmental compliance issues, synthetic footwear producers primarily need to meet factory compliance standards, simplifying international buyer requirements.
This growth is further supported by broader market trends, with the Bangladesh Investment Development Authority (BIDA) noting rising orders from major global brands like H&M, Puma, Decathlon, FILA, and Kappa. Export destinations have also expanded to countries including Spain, France, the Netherlands, South Korea, India, Italy, and Germany. For instance, Maf Shoes has boosted its daily output significantly due to surging European demand.
Despite this momentum, exporters face frustrations with customs clearance delays, complex regulations, and insufficient government support. Unlike the ready-made garment (RMG) sector, which enjoys various fiscal incentives and faster customs processes, the synthetic footwear industry lacks many of these advantages. Bangladesh also contends with fierce competition from China, which benefits from government incentives, raw material self-sufficiency, and superior infrastructure. Conversely, Bangladeshi manufacturers heavily rely on imported raw materials, increasing production costs and logistical hurdles.
Additionally, despite lower labor costs than competitors like Vietnam, Bangladesh's footwear sector lags in productivity. Major global brands such as Nike and Adidas have yet to enter Bangladesh's synthetic footwear market, primarily due to concerns over lead times and delivery capacity. Meanwhile, countries like India are actively attracting foreign investors with favorable land availability, tax incentives, and improved infrastructure.
To realize the sector's full potential, exporters are urging the government to implement a dedicated synthetic footwear policy, ensure equal customs treatment with the RMG sector, facilitate access to technology financing, and incentivize backward linkage industries. Despite these challenges, industry leaders remain optimistic that, with timely policy interventions, Bangladesh's synthetic footwear sector can become a significant economic growth driver.
The digital scenario of luxury retail has irrevocably altered with the successful completion of Mytheresa's acquisition of Yoox Net-a-Porter (YNAP) from Richemont. This landmark deal, finalized last month, has led to a new entity, LuxExperience B.V., a pre-eminent multi-brand group ready to dominate the online luxury sphere with combined revenues estimated at approximately €3 billion. Trading under the name ‘LuxExperience’ on the New York Stock Exchange (NYSE) with the ticker symbol ‘Luxe’ effective May 1, 2025, this merger signifies aconsolidation aimed at leveraging the strengths of both platforms.
The rationale behind this ambitious union is addressing key areas for growth and efficiency. Firstly, a major advantage lies in the minimal overlap in their customer bases, reportedly less than 10 per cent. This allows LuxExperience to tap into a broader audience without significant internal competition or cannibalization. Secondly, the geographical footprints of Mytheresa and YNAP are highly complementary. Mytheresa boasts of a strong presence in Europe, while Net-a-Porter and Mr Porter have established a solid foothold in the crucial US market. This synergy provides LuxExperience a truly global reach, capitalizing on regional strengths.
The merger also unlocks substantial cost synergies. Integrating the technology stacks, streamlining warehouse operations, and even consolidating photography processes are expected to yield significant operational efficiencies. This resource optimization will be crucial in a competitive market where profits and agility are paramount.
The immediate impact of this merger is the creation of a formidable player in the online luxury market. As illustrated in table, the combined entity of LuxExperience, alongside Nordstrom, now stands as the largest online luxury retailer based on estimated net annual revenues.
Table: Estimated net online annual revenues of leading global luxury retailers
|
Rank |
Retailer |
Estimated net annual revenue (€bn) |
|
1 |
LuxExperience |
3 |
|
2 |
Nordstrom |
3 |
|
3 |
Saks Fifth Avenue/Saks.com |
2.6 |
|
4 |
Farfetch |
2.2 |
|
5 |
Restofcart |
1.4 |
|
6 |
Ounass |
0.9 |
|
7 |
Breuninger |
0.8 |
|
8 |
Ssense |
0.7 |
|
9 |
Cettire |
0.5 |
|
10 |
Galeries Lafayette |
0.4 |
|
11 |
Alludevavitore |
0.4 |
|
12 |
Celine |
0.4 |
|
13 |
Flannels |
0.4 |
|
14 |
Harrods |
0.2 |
|
15 |
Selfridges |
0.2 |
|
16 |
24S |
0.2 |
|
17 |
Moda Operandi |
0.2 |
|
18 |
Printemps |
0.2 |
|
19 |
Fwrd |
0.2 |
|
20 |
Rinascente |
0.1 |
Source: Company reports, Press research
This dominant position gives LuxExperience a definite leverage in negotiations with brands, enhanced marketing reach, and greater potential for data-driven customer insights.
However, the path to realizing the full potential of this merger is not without challenges. Integrating two distinct corporate cultures, streamlining operations across multiple platforms (Mytheresa, Net-a-Porter, Mr Porter, YOOX, and The Outnet), and maintaining the unique brand identities of each entity will require careful strategic execution. Mytheresa has indicated that the post-acquisition phase will focus on unifying the technology infrastructure and realigning brand assortments. Notably, the off-price division, comprising Yoox and The Outnet, will operate independently from the luxury division to create a more efficient operating model.
Market Outlook and competition
The online luxury market is expected to continue growing, although some analysts predict a potential ‘luxury fatigue’ in the short term due to economic uncertainties and evolving consumer preferences. However, the long-term prediction remains positive, with projections indicating a rise in online luxury sales to a significant portion of the total luxury market by 2025 and beyond. Factors driving growth include the increasing digital savviness of younger generations, the global reach of e-commerce, and the desire for convenience and exclusive online offerings.
LuxExperience enters this evolving landscape as a major force. Its primary competitor, Nordstrom, has also been investing in its online presence and omnichannel capabilities to cater to the quintessential luxury consumer. Other big players, such as Farfetch and the online platforms of traditional retailers like Saks Fifth Avenue and Harrods, will continue to vie for market share. The success of LuxExperience will depend on its ability to effectively integrate its acquired assets, capitalize on synergies, and differentiate its offerings across its various banners to cater to diverse segments of the luxury consumer.
Luxury e-commerce consolidation
While the Mytheresa-YNAP merger is a major development, the luxury sector has seen other notable consolidation efforts. For instance, LVMH's acquisition of Tiffany & Co. in 2021 showed the importance of expanding into high-growth segments like jewelry through mergers and acquisitions. Similarly, the acquisition of Myntra by Flipkart in India highlighted the potential for e-commerce platforms to consolidate and capture burgeoning online markets. These examples underscore the potential for significant value creation through strategic mergers, but also emphasize the importance of careful integration and brand management.
The creation of LuxExperience marks an important moment in the online luxury industry. The combined scale, complementary geographical presence, and potential for cost synergies position the new entity for good growth. However, navigating the complexities of integration and a dynamic market will be crucial. The industry will be closely watching how LuxExperience leverages its newfound power to shape the future of online luxury retail. The ability to maintain brand distinctiveness while capitalizing on shared infrastructure will be a key determinant of its long-term success in this high-stakes environment.
Leena Nair, the Indian-origin Global CEO of Chanel, has been awarded the prestigious Commander of the Order of the British Empire (CBE) for her outstanding contributions to the retail and consumer sector. The honour was presented by Prince William at a special investiture ceremony held at Windsor Castle.
The recognition is part of King Charles III’s New Year’s Honours list for 2025, which acknowledges individuals for distinguished service in the United Kingdom. Nair, who hails from Kolhapur, Maharashtra, became Global CEO of Chanel in January 2022.
Accepting the award, Leena Nair expressed her deep gratitude to her family, mentors, and colleagues at both Unilever and Chanel. She dedicated the recognition to her team at Chanel and said the honour motivates her to continue leading with courage and integrity.
At the ceremony, Nair represented the iconic fashion house wearing a violet Chanel Haute Couture tweed dress coat, sandals by Maison Massaro, and a Maison Michel felt hat.
Since taking the helm at Chanel, she has strengthened the brand’s philanthropic arm, Foundation Chanel, enhancing support for women and girls worldwide.
Wakayama, Japan-based Shima Seiki Mfg Ltd, a global leader in textile technology solutions, will present its innovative APEXFiz design software at the Future Fabrics Expo 2025, held in London on June 24-25 during London Climate Action Week.
Renowned for promoting sustainable material sourcing, the Future Fabrics Expo serves as a hub for eco-conscious innovation in fashion, home, and interior textiles. Shima Seiki’s participation underscores its commitment to driving digital transformation and sustainability within the global textile industry.
At the expo, Shima Seiki will highlight APEXFiz, a subscription-based software that supports the complete creative process from design and planning to realistic fabric simulations and 3D virtual sampling. The platform caters to diverse textile applications including flat and circular knitting, weaving, socks, embroidery, and print. Its standout feature, virtual sampling, offers highly accurate, lifelike digital prototypes that can effectively replace traditional physical samples, significantly cutting down on time, cost, and material waste.
The company will display its virtual sample swatches at both the Curated Textiles Area and the Shima Seiki booth, allowing attendees to experience the realism and expressiveness of digital samples. These swatches aim to inspire not only designers and buyers but also fellow exhibitors seeking to evaluate and present their sustainable fabrics through more eco-friendly and efficient methods.
Through APEXFiz, Shima Seiki is paving the way for smarter sourcing, reduced inventory waste, and a more sustainable fashion ecosystem.
Reducing its earnings losses for the three-month period, US lingerie giant Victoria's Secret & Co surpassed its sales expectations for Q1, FY25.
The Ohio-based company's sales for the quarter ending May 3 totaled $1.353 billion, surpassing its own guidance of $1.30 billion to $1.33 billion. However, this figure remained flat compared to the same period last year, primarily due to a 1 per cent decline in total comparable sales.
Making significant improvements in its financial performance for the quarter, Victoria's Secret reduced its net loss to just $2 million during the quarter as against a net loss of $4 million in the prior-year quarter.
The brand focused on proactively managing the business during the quarter, ensuring it remains nimble and protects investments in customer experience, brand health, and product innovation, says Hillary Super, CEO.
Reaffirming its forecast for the full year, the company projected sales in the range of $6.2 billion to $6.3 billion.
Earlier this month, the underwear company temporarily shut down its website for several days following a security incident related to its information technology systems.
Aptly named, ‘Curiosities, the Fall/Winter 2026/27 collection by Italian yarn expert Monticolor is inspired by Wybderkammer or cabinet of curiosities.
Promising to take knitwear on a tactile and visual adventure, the collection offers a new yarns collection that grants designers not just freedom to express their thoughts but also an opportunity to explore new possibilities, and sophisticated sustainability.
Infused with a rich, exploratory spirit, Monticolor’s new yarns collection focuses on three distinct creative themes: Gothic Novels, Modern Fairytales, and Incredible Creatures. Each of these themes interprets the season’s mood through unique textures, compelling color palettes, and ethically sourced fibers.
The Gothic Novels theme evokes moody contrasts and mysterious elegance. Yarns like Arctic Sense and Nordic Sense exemplify this with their refined blends of OCS-certified organic cotton and cashmere, subtly highlighted by soft mother-of-pearl effects. This dramatic narrative is further enhanced by sequins, lamé brocades, and openwork structures.
The Twinkle Sense theme adds a delicate shimmer to neutral bases, completing the story. The Nordic inspiration continues with Inuit Merino and Polar Merino, both crafted from RWS-certified Extrafine Merino Wool wrapped in organic cotton. These yarns deliver bold color contrasts, three-dimensional textures, and a uniquely light yet warm feel.
In Modern Fairytales, Monticolor reinterprets beloved childhood narratives with a contemporary twist. Nostalgic textures such as bouclé and tweed lend an artisanal elegance. A cashmere-organic cotton blend, Tweed Sense features irregular yarn textures and rich jaspé tones, including denim-inspired blues and heathered grays. This allows designers to explore both whimsical and refined aesthetics.
Finally, bringing the surreal to life, Incredible Creatures merges artificial intelligence with vivid yarn design. The standout Bio Velvety is made from GOTS-certified organic cotton, forming a superfine chenille. This makes it an ideal, plush, and lightweight alternative to traditional velvet for modern knitted garments, offering both comfort and innovation.
Thus Monticolor's latest collection reinforces the company’s position as a forward-thinking yarn house committed to sustainability, superior craftsmanship, and boundless creative expression, perfectly aligning with the evolving needs of knitwear designers worldwide.
To reduce its fixed costs and reinvest in long-term growth, plus-size clothing retailer Torrid plans to close up to 30 per cent of its retail locations this year. This move by the company involves closing down up to 180 of its underperforming stores.
According to Lisa Harper, CEO, the company registers 70 per cent of its total demand from online shopping. Founded in 2001, the brand is known for its direct-to-consumer apparel, intimates, and accessories catering to women's sizes 10 to 30. Over the years, It has grown into a standalone brand with over 600 stores across the United States.
These store closures are a part of Torrid's transition to a more digitally-focused strategy, as per the June 5 report. In Q1, FY25, the retailer’s sales declined by 5 per cent compared to the previous year. Since January, it has already closed two locations, bringing the chain's current store count to 632.
Having debuted its first New York Fashion Week collection in 2017, Torrid is accelerating its transformation to a more digitally led business, which includes optimizing its retail footprint, notes Harper.
In Q1, FY25, Torrid's net sales declined by 4.9 per cent to $266 million from $279 million in Q1, FY24. The company also reported a net loss of $7.3 million, a stark contrast to the $11.8 million profit during the same period in 2024.
The closures are intended to better align its current demand and sales channels, says the Harper report. Despite these planned closures and sales decline, the company reaffirmed its full-year 2025 outlook, anticipating net sales between $1.030 billion and $1.055 billion.
