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A study by Allied Market Research says, wearable technology market was valued at US$19.6 billion in 2015, growing at a compound annual growth rate of 16.2 per cent to reach US$57.7 billion by 2022. The forecast highlights the sector's potential to boost the overall fashion industry.
The topic will be examined at a seminar titled "Wearable Technologies for Future Fashion." Jointly organised by the HKTDC and the Hong Kong Research Institute of Textiles and Apparel, the session is part of a seminar series to be held at the 24th Hong Kong Fashion Week S/S, from July 10 to 13 at the Hong Kong Convention and Exhibition Centre.
Industry leaders will offer insights on upcoming trends in wearable technologies. Raymond Chu, Chairman of textile machinery agent Chemtax will speak on "Future Knitting with Wearable Technologies." Predictions of huge demand in the smart and wearable textile sector will lead to a 40 per cent annual growth, making it worth $2.5 billion by 2021. There will be bigger growth among sports fashion brands, says Chu
Going forward, sophisticated sensors, heating elements even battery chargers will be added to fabrics using high-tech knitting machines for sport, leisure, the military, hospitals and emergency services. Such devices will be able to measure a person's vital signs, such as heart rate, breathing, skin temperature - even perspiration levels, he added.
Stanley Kwok, Director of Senty, will discuss on the health concerns in wearable tech highlighting the importance of addressing concerns surrounding the use of wearable technologies.
Jason Ho, Vice-President of Intertek Testing Services Hong Kong, an assurance, testing, inspection and certification agency, will speak on "Total Quality Assured." The Fashion Week will feature some 1,100 international exhibitors from 19 countries, including newcomers from Canada, Nepal, Saudi Arabia and Vietnam. Nepal and Italy will stage group pavilions for the first time, joining India, Indonesia, Japan, South Korea, Macau and Thailand. Other highlights at Fashion Week will include a series of international fashion parades, such as one featuring designs from Saudi Arabia, which is among countries covered by China's Belt and Road Initiative.
The wearable technology market will grow at a compound annual growth rate of 16.2 per cent by 2022. Growth of wearable technologies is revolutionising the way people connect through smart devices, which will also greatly impact the fashion industry. Going forward, sophisticated sensors, heating elements – even battery chargers – will be added to fabrics using high-tech knitting machines for sport, leisure, the military, hospitals and emergency services. Such devices will be able to measure a person’s vital signs, such as heart rate, breathing, skin temperature – even perspiration levels.
Sensors used in wearable devices could have health benefits, such as rehabilitation for patients with physical impairments and functional disabilities, and injury prevention for people at risk.
Advances in technology, including muscle and motion sensors, mean that wearable devices will be able to provide increasingly useful data to accurately estimate a person’s biomechanics. The knowledge gained can be used to launch tailor-made training or prevention.
All wearable technologies have to be carefully tested to ensure they meet strict manufacturing requirements. Most wearable technological devices worn close to the body transmit data to smart phones. The quality of smart clothing must meet both the necessary electronic and high-performance textile requirements. Such devices are specially developed and tested so they are made to the highest standards, with advanced performance features, and are safe to use.
The upholstery sector in Pakistan is in dire need of dedicated industrial zones across the country. Establishment of cottage industrial zones could help promote the handloom, carpet, hosiery and embroidery sectors. With these measures, exports by these sectors could be enhanced by $3.5 billion annually in the next five years.
Upholstery manufacturers are unable to meet the demands of buyers. One reason is an increase in cost of production. There has been a 39 per cent increase in gas and other tariffs. Japan, China and many other countries have established cottage industries to provide a strong base for industrial development with great success. The speedy development of these countries was only due to industrialisation and encouragement to entrepreneurs.
The All-Pakistan Bedsheets and Upholstery Manufacturers Association has expressed concern over the proposed increase in sales tax on exports from two to five per cent, saying the increase in the rate of sales tax will affect the country’s fragile exports adversely and leave a negative impact on the value-added sector. It says keeping in mind the difficulties of exporting units, especially the value added sector, the increased sales tax rate on exports should be withdrawn and the no payment no refund system should be introduced.
The UK will continue to provide zero-duty benefit on import of goods from Bangladesh and 47 other least developed countries even after Brexit. Bangladesh’s exports, especially garment items, to the UK began to slide after the Brexit vote. Garments, which account for more than 80 per cent of Bangladesh’s total exports to the UK, fell by nearly six per cent with export earnings falling in the last 11 months of the outgoing fiscal year.
Year-on-year growth of Bangladesh’s garment exports to the UK has hovered around 15 per cent over the last few years. However, it is likely to see negative growth in fiscal 2016-17. The UK is a major export destination, as Bangladesh has been enjoying duty privilege under the EU's Everything But Arms scheme and also because a large number of non-resident Bangladeshis live in the UK.
In the last 11 months of the outgoing fiscal year, Bangladesh exported goods worth 3.26 billion dollars to the UK compared to 3.44 billion dollars in the corresponding period of the previous fiscal year. Bangladesh is watching if Britain and the EU sign any bilateral free trade agreements with countries competing with Bangladesh. If the UK and the EU give the same benefit to those countries, Bangladesh would face tough competition.
Morocco Style will be held from March 28 to 31, 2018. This is a textile and accessories fair. The event will connect textile professionals. The previous edition of Morocco Style saw a successful turnout of over 12,000 visitors and 300 exhibitors.
Exhibits will include textiles, leather clothing, nightwear, shoes, bags, cosmetics, yarn, wool, knitted fabric, women’s and men’s clothing, denim, lingerie, sportswear, children’s clothing, accessories and more. Visitors will include designers, stylists, wholesalers, department stores, shop owners, agents and distributors and associations.
The fair points to the new season’s textile trends and is a key hub of North Africa’s textile market. Morocco has become an important supplier of ready-to-wear via free trade agreements with the EU and the US. A huge proportion of the sector is small and medium sized enterprises, which makes Morocco a very flexible environment for placing orders according to fashion and trade preferences.
Professional buyers will have a chance to attend B2B meetings with exhibitors and sectoral associations. Morocco Style has buyer delegation programs by focusing on eight target countries--Morocco, Algeria, Libya, Egypt, France, Portugal, Spain, Italy. Moroccan fabric imports are exempt from tax. This accelerates the export of ready-to-wear. Casablanca, the biggest city and the port of Morocco, holds 80 per cent of Morocco’s trade volume.
Indian textile exports are expected to grow by 18 per cent in financial year ’18. The US has already exited the Trans-Pacific Partnership, which is expected to realign the textile trade and move the global market towards the Indian subcontinent. Earlier the trade was diverted to Thailand and Vietnam.
Synthetic textile is expected to grow more following a fiber-neutral tariff policy. High polyester products which have a 15 per cent share in global trade are likely to grow in the context of India. Small players such as Bangladesh and Vietnam who enjoy the benefits imposed on India by US and European markets are likely to lag in exports. China’s focus on a shift to the technology sector was another reason that led to a decline in its share in global trade and an increase in the trade volumes of smaller countries.
The Indian export industry already enjoys significant advantages because of the government’s support to exports and declining interest rates. However, cascading taxes and a fragmented industry structure are the bugbears the industry currently faces before the implementation of GST. India’s textile sector contributes about 11 per cent to the country’s total exports.
South India-based Jayalakshmi Enterprises has developed mechanically processed cotton varieties suitable for use in absorbent technical textile products. Globally, the nonwovens sector is looking for new fibers that are sustainable. To fulfill this need and to develop absorbent and other specialized technical textiles products Jayalakshmi has released two different types of processed cotton that can be used in nonwoven manufacturing processes, such as needlepunching and hydroentangling.
Recently, Jayalakshmi diversified to develop cotton-based high-tech products, such as oil sorbents. The company has been in the cotton textiles business for more than five decades.
Velmurugan, Jayalakshmi’s general manager says they are in a phase of diversification. Developing cotton products that can fulfill the needs of the growing nonwovens and technical textiles sector is a natural growth process for everyone. Of the two types of cotton developed by the company, one variety has a soft, silky touch and represents the high-end new product. Till now the company has developed specialized cotton yarns and allied cotton products. Chennai-based Wellgro Tech trading will be marketing the cottons for nonwovens and technical textile industry customers.
According to Nambi Srinivasan, marketing in-charge at Wellgro, they will be looking towards domestic nonwovens wipe manufacturers and international players as its potential customers. Indian companies will have to develop their nonwovens sector right from fibers to fully finished products that can be available at retail outlets. Such endeavors by conventional textile groups such as Jayalakshmi are much needed to advance the technical textiles sector in India.
India has started a probe into Chinese dumping of polyester yarn following complaints from SRF and Reliance. These yarns are used for manufacturing tyre cord fabrics, seat belt webbing, slings, ropes, coated fabrics and conveyor belt fabrics. If it is established that dumping has caused material injury to domestic players, an anti- dumping duty may be imposed. Dumping affects gross margins.
Anti-dumping duties are levied to provide a level playing field to local industry by guarding against cheap, below-cost imports. The investigation will cover the period from April 2016 to March this year. Growing imports and dumping of goods from China have always been an area of concern for Indian companies. Exports to China were only nine billion dollars in 2015-16, but imports totaled 61.7 billion dollars.
Dumping of several other products such as chemicals from China is also being probed. India is one of the most attractive markets for global producers due to its large middle class population. Imposition of anti-dumping duty is permissible under the World Trade Organisation and both India and China are members of the Geneva-based body.
Dumping is an unfair trade practice, because the lower export prices are not a result of efficiency on the part of the exporting producers, but of distorted market conditions illustrated by the segregation of the domestic market. Dumping limits effective competition and creates uncertainty, which hinders a predictable investment climate.
There would not be any need to extend the tenure of the EU retailers’ group Accord on Fire and Building Safety in Bangladesh beyond 2018 as the ongoing remediation work under its supervision would be completed by 2017 feels the Bangladesh Garment Manufacturers and Exporters Association (BGMEA). However, BGMEA maintained the retailers’ body could stay in the country post 2018 as a monitoring agency, if allowed by the government.
BGMEA President Siddiqur Rahman, said they have heard the Accord wants to stay for five more years but it has not made any official appeal in this connection. They also hope that the remediation work, the platform is supervising, will be completed by 2017 and no extension will be required.
The President of the apex garment manufacturers’ body in the country further underlined that Accord and the North American buyers’ platform – Alliance for Bangladesh Worker Safety, were yet to officially seek an extension of their respective terms in Bangladesh.
It may be mentioned here that following the Rana Plaza building collapse in April, 2013, EU retailers formed the Accord while North American retailers formed the Alliance to undertake a five-year plan, which set timeframes and accountability for inspections and training and workers empowerment programs. Launched in February 2014 officially, the initiatives undertook structural, electrical and fire safety inspections in garment factories and suggested remedial measures accordingly.
Woolmark is showcasing in the ongoing edition of The Wool Lab at Pitti Filati from June 28 to 30. The Wool Lab autumn/winter 2018-19 presents seven fashion-oriented themes, presenting a collection of the latest commercially available wool fabrics and yarns. In addition, The Wool Lab Sport and The Wool Lab Denim will return this season, with each of the popular books updated to include the latest innovations and technical fabrics.
Each edition of The Wool Lab is created in collaboration with the world’s most innovative and quality-oriented spinners and weavers to present an inspirational sourcing guide available for designers and brands to view.
This edition marks six years since The Wool Lab first launched, with each edition well received by trade and generating more than 60,000 swatch requests. Each season, more and more fashion designers and brands look forward to seeing the latest offering as it provides the opportunity for them to explore an actual sourcing guide for commercially available products.
Woolmark is the global authority on wool. Through its extensive network of relationships spanning the international textile and fashion industries, it highlight Australian wool’s position as the ultimate natural fiber and premier ingredient in luxury apparel. The Woolmark logo is one of the world’s most recognized and respected brands.
