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One of America’s top sportswear companies is taking note of Dallas textile company Nextt’s new cotton and polyester blend fabric. The marketing arm of Mumbai-based Alok Industries, Dallas based Nextt, has received patent for yarn and fabric production for blended cloth between 300 and 1,000 thread count. Yarn and fabric made of at least 51 per cent cotton is covered by the patent.
Nextt has created Alpha Cotton using the patented yarn and fabric which it uses to make bed sheets. Arun Agarwal, Nextt’s CEO, who founded it in 2008, has applied for global patents. Speaking about the idea for textile, he said that it came to him when he saw cotton prices rising. He thought that since ‘necessity is the mother of invention’, he decided to blend polyester and cotton, which according to him creates a luxury, high thread count linen at an affordable price. Agarwal added that most of the cotton, which is under the patent will be 55 per cent and 45 per cent polyester.
He said that Alpha Cotton is also easily washable, it dries faster and does not collect as much bacteria as traditional sheet fabrics. Nextt sells 600 thread count sheets on average between $59.99 and $69.99 per set. Several retailers such as Bloomingdale’s, Kohl’s, Belk and even Walmart stock these products.
Alpha Cotton, though, will not be the only fabric for sheets and Agarwal said that one of the top athletic apparel manufacturers in the US has approached him to use the fabric in sportswear. Sales of Alpha Cotton are expected to reach $2 billion in the next two years based on Nextt’s current revenues of $500 million.
Asia's leading, one-stop fashion sourcing show covering accessories, apparel and fabrics will be held from October 27 to 30, 2015 in Hong Kong. Three co-located events that will take place include Fashion Accessories & Footwear, Fashion Apparel & Fabrics and Underwear & Swimwear. The shows will exhibit a wide selection of products, while highlighting the latest styles and trends.
New featured introduced this October is the ‘Young Designers Corner’ to showcase designs with fashion parades by emerging and talented designers from Korea and top fashion schools in Hong Kong. The ‘Fashion Technology Corner’ will demonstrate the latest trends in fashion technology such as 3D printing application in apparel and footwear, while the ‘ASEAN Select Showcase’ will feature apparel from emerging garment hubs, including Myanmar and Vietnam.
The shows are expected to witness visitors from many of the world's leading brands and retailers including Audiovox, BenQ, Burberry, Carrefour, Cisco, FILA, Foxconn, Fujitsu, Hallmark Cards, Huawei, H&M, Intel, Lenovo, LG Electronics, Li & Fung, Marks & Spencer, Microsoft, Panasonic, Philips, RadioShack, Samsonite, Samsung, Sobond, Sony, Target, TCL, Triumph, Woolworths and Walt Disney.
The Gifts & Home show under the same banner will take place from October 18 to 21, 2015 and will be held concurrently with Mobile Electronics show, providing expanded sourcing options for visiting buyers. The show is set to feature quality suppliers of innovative and creative products including smart home devices, smart gifts, sports and outdoor products, kitchenware and dinnerware.
The new production technique, cellulose dissolution developed by VTT Technical Research Centre, Finland, the largest multidisciplinary research organisation in Northern Europe, is a part of a project launched by a group of Finnish organisations. This technique will be tried out at all stages of the value chain during 2015 and 2016. Old worn-out cotton clothing can be turned into new fibres for the textile industry by using this technique. Cellulose wet-spinning is due to begin at VTT's pop-up plant in Finland in October. Towards the end of 2016, the first clothing line made of the new recycled fibres will be out.
Both consumers and businesses are challenged by advancements in recycling technology are challenging both consumers and businesses. As of 2016, organic waste in the form of clothing may no longer be disposed off at landfills. Piloting and modelling a closed-loop ecosystem in line with the principles of circular economy, is the aim of the Circular Economy of Textiles (TEKI) project. This will form the basis of a new way to make industrial use of textile waste that cannot be reused.
For the TEKI project, VTT and Ethica have brought together a group Finnish organisations from different activities in the value chain. The organisations collectively aim at to promote the recycling of textiles while adding value to their business activities or creating new business. Ethica's role in the project is to research and model the potential of a closed-loop textile ecosystem more comprehensively. It also aims to gauge consumers’ interest in operating models that are based on the principles of circular economy and recycled materials. Besides, the aim of the project is also to study the technological requirements of dissolution-based recycling.
Bangladesh is toying with the idea of setting up garment villages in Chittagong. Another plan is to build a six-lane expressway between Dhaka and Chittagong. Offers have come from some countries to build that on the build, operate and transfer model. It’s hoped that once this is done a good number of satellite cities will grow up around the expressway. Chittagong is the principal seaport of Bangladesh. It handles about 92 percent of the import-export trade of the country.
However, problems need to be looked into. At one time Chittagong-based garment entrepreneurs' contribution to the national economy was 40 per cent. It has come down to 11 per cent now. Port efficiency is another major obstacle. Urban chaos is intensifying through disjointed infrastructure initiatives unlinked to needs on the ground. Another problem facing the port city is gas shortage that has plagued it for 15 years.
The bright spot is that the port has been able to show a marked improvement in handling containers and optimising the utilisation of berths and yards. Bangladesh has a target of reaching $50 billion in readymade garment exports by 2021. For this the country needs to achieve an annual growth rate of eight per cent.
Kashmir sericulture, or silkworm farming, is a casualty of changing regulations, regional political tensions and competition from China. Only about 30 per cent of the silkworm cocoons produced in Kashmir have been used locally to produce silk. The rest is exported to other regions in India and neighboring countries, which convert cocoons into silk more cheaply and efficiently.
Kashmiri silk factories have to find a way to produce as cheaply and efficiently as their East Asian competitors. Competition has meant that many Kashmiri silk producers have abandoned the industry as the price they receive for silk products has declined dramatically. The Kashmir silk industry once held a significant position in the world due to its superior quality and luster. Shortage of mulberry trees for rearing the cocoons is a pressing problem.
Since the 1980s, production has decreased dramatically. By the late 1990s the state was producing only 60,000 kg of cocoons per year. Rates have come down sharply from Rs 1500 per kilogram last year. The rates have touched Rs 500 to Rs 600 per kilogram. Previously prices were kept artificially high in an attempt to grow the silk industry. India is the second largest producer and consumer of silk products in the world.
Milan, Italy will host the PCI Fibres Conference 2015 from November 10-11 at Hotel Marriott, Milan, Italy. Aspects such as prospects for raw materials, fibres and textiles in the context of sustainability challenges, global health issues, and lifestyle and demographic changes will be discussed at the conference. These aspects have implications for the mix of fibres, the manufacturing locations of supply chains, and the production systems that are used.
Presentations will define the quantitative response in terms of fibre demand numerics. They will also touch up on the crucial issue of how to recover value, which is maybe, the most pressing requirement throughout the industry.
There has been unpredictability and chaos since the last two-three years in global fibres and textile supply chains. Supply chains and trade patterns have been reconfigured due to heavy investment in China and volatility in exchange rates in this time period, and overcapacity at all levels has become a major threat to the financial stability of large parts of the industry. Also, raw material prices have gone up dramatically and crashed.
PCI Fibres is a specialist consultancy in fibres and textiles and they are optimistic about rebalance and recovery in the market this year. As per reports, waiting for supply/demand balances to restore the situation will slowly help with the recovery. Directly addressing some of the complex challenges that global consumers present the industry with at every level of activity can help speed up recovery.
ICE Futures US will launch a world cotton contract on November 2, 2015. The contract will price delivery of multiple origins and allow delivery in multiple locations around the world.
Contract rules provide for delivery of cotton from the US, Australia, Brazil, India, Benin, Burkina Faso, Cameroon, Ivory Coast and Mali, with the US as par and a pre-set premium or discount for each other. The rules provide for delivery in exchange-licensed warehouses at specified delivery points in Malaysia, Taiwan, Australia and the US, with the Malaysia and Taiwan locations at par and with pre-set discounts for delivery in Australia and the US.
Intercontinental Exchange is the leading global network of exchanges and clearing houses. Its futures exchanges and clearing houses serve global commodity and financial markets, providing risk management and capital efficiency. The New York stock exchange is the world leader in capital raising and equities trading.
ICE Futures US is the center of global trading in soft commodities with futures and options on soft commodities including coffee, cocoa, sugar, cotton and frozen concentrated orange juice. ICE Futures Europe lists London soft markets, including London cocoa, Robusta coffee and white sugar, providing a full range of global soft commodity products on the ICE platform.
Myanmar may lower tariffs on imports of fabrics from Taiwan. Importers of Taiwanese fabrics in Myanmar are currently required to pay 5 to 15 per cent import duties. Lowering of tariffs by Myanmar is seen primarily as a goodwill gesture. Fabrics are one of Taiwan’s few key export items to Myanmar, accounting for 14 per cent of Taiwan’s outbound sales to Myanmar.
Taiwan is thinking of exporting agricultural equipment and modified vegetable seeds and rice seeds to Myanmar in future. The two countries have agreed to work together on commodity inspection technology to lower trading costs. Taiwan will help Myanmar set up a system to speed up the goods clearance process at customs.
Taiwan is planning on bringing in migrant workers from Myanmar to resolve labor shortages in that Taiwan’s manufacturing and agricultural sectors. People in Myanmar share similar religious beliefs and lifestyles with people in Taiwan, making them a good fit in the local economy.
Myanmar has recently opened up its market for imports of goods including textiles from all over the world. The main countries Myanmar imports man-made fiber textiles from are China, Republic of Korea, Japan, Taipei, Indonesia, Thailand.
Through strengthened interactions and synergies between its six shows, the event was able to showcase specifics of business specialties and know-hows. There were 1,924 exhibitors who showcased their latest offerings to nearly 61,700 visitors, who visited the shows this season. Attendance was almost stable in terms of September 2014 edition.
Six integrated shows offer latest under one roof
Exhibitors recognised the quality and professionalism of increasingly international visitors. Visitors pointed out that it was at these shows that fashion directions are confirmed or reversed and they discover new inspirations and ground-breaking developments for their upcoming collections. The dynamism and strong business activity at the latest edition reflect a renewed optimism in a fashion industry looking for innovative, creative and differentiating products.
Each season, the six Première Vision Paris shows meet the same high standards of selectivity, quality and creativity in terms of offer and services. Around 1,924 exhibitors including 154 new companies from 57 countries presented their collections and latest seasonal developments.
Yarns and fibres, fabrics, leathers and furs, designs, accessories and components, fashion manufacturing... for three days, the global event for fashion professionals presents to the world’s fashion players a rich and exclusive offer across its shows. The full integration of Première Vision Paris shows led to collaboration of know-hows, to create connections between exhibitors and showcase interactions between different businesses. This new dynamics enabled some exhibitors - whose skills intersected several shows or businesses - to integrate new areas and reposition themselves to further improve their performance.
Rise in quality visitors from across geographies
Visitors were increasingly international - up by a percentage point this season over prior editions - and came from 132 countries. They were primarily from Europe. France is in the lead with over 16,200 visitors followed by Italy with more than 7,000 visitors. The UK, with 9 per cent of attendance and nearly 5,500 visitors was in the 3rd place. This trio is followed by Spain with more than 3,400 visitors, Germany with 2,982 visitors followed by Belgium and the Netherlands.
Some 13 per cent of industry professionals came from Asia. Japan, a major buyer of fashion and creative textiles, saw increased attendance with 1,901 visitors this session, while South Korea is establishing itself as a true future market for creative fashions, with an 8 per cent rise in visitors. Lastly, despite the recent devaluation of its currency and the slowdown in its economy, China saw a 17 per cent increase in visitors.
With over 2,800 visitors, North America, albeit slightly down due to the coinciding New York Fashion Week, continues to be represented by high number of quality visitors. The US stands in 7th place in terms of visiting countries, with over 2,400 fashion decision makers attending during the three days. For its part, Russian attendance, marked by a 13 per cent decrease, was in line with the September 2014 and February 2015 editions. Turkey is not to be left behind. With 2,350 visitors, this key country in the sector saw attendance rise by 3 per cent, bringing it to 8th place among visitor countries.
Première Vision Paris shows also saw a wide variety of visitors, both in terms of size - from independent designers to international groups, including small and medium-sized enterprises - and positioning - from mass-distribution brands to luxury houses, including medium and high-end fashion and accessory brands.
Events, seminars through the three days
Beyond the exhibition spaces of its shows and the rich and complementary offer they propose, beyond its various forums, each session Premiere Vision Paris organises events and collaborations dedicated to creativity and specific themes, to give food for thought and inspiration to its exhibitors and visitors. Some of these events helped highlight the creative and transversal richness of the shows’ offer, while others made it possible to look ahead to major evolutions.
There were six prize winners for the 7th PV Awards. Until now the PV Awards have distinguished only the most creative and innovative fabrics from the collections of Première Vision Fabrics exhibitors. For the 7th edition, competition was opened up to leathers presented by tanners at Première Vision Leather. Thus, instead of the four usual prizes, six PV Awards were presented this year - three for fabrics and three for leathers.
Like every year September edition of Première Vision Designs partnered with the Texprint competition, open to young international design students at British fashion universities, of which it is one of the main sponsors. The 24 finalists showing at the Texprint Village were a key attraction for buyers, designers and fashion brands looking for new discoveries and ideas. In addition to the five existing prizes, a new Texprint Award was awarded by the competitions’ partners and a jury of industry professionals, presided over by Rosita Missoni.
www.premierevision.com
Ahmedabad-based denim fabric maker Nandan Denim is set to raise Rs 50 crores by issuing 2.5 million fully convertible warrants to UK-based foreign institutional investor Polus Global Fund. Nandan is India’s second and world’s fifth largest integrated denim fabric maker. The warrant holder will have to pay an amount equivalent to at least 25 per cent of the consideration on or before the allotment of warrants while the balance 75 per cent shall be payable on or before the time of exercise of the warrants.
The UK-based FII currently holds 1,35,000 shares or a 0.30 per cent stake currently in the company, which will increase to 2.63 million shares or 5.48 per cent post conversion of the warrants into equity shares.
The company will use the fresh funds for expansion projects. Nandan Denim is in the middle of its capex execution with an outlay of Rs 612 crores for expansion of its denim fabric manufacturing capacity, spinning capacity and shirting capacity. The capex has a requirement of equity funding to the tune of 30 per cent and this equity infusion, coupled with the internal accruals, would balance the funding while the external funds have already been tied up.
www.chiripalgroup.com/nandanexim.php
