FW
"Organised by the Hong Kong Trade Development Council (HKTDC), the 49th Hong Kong Fashion Week for Fall/Winter will raise its curtain next January. The four-day fair will run from January 15-18, 2018 at the Hong Kong Convention and Exhibition Centre. The trade show is expected to host 1,400 exhibitors worldwide who will present an array of new season garments, designer collections, accessories, fabrics and related professional services."
Organised by the Hong Kong Trade Development Council (HKTDC), the 49th Hong Kong Fashion Week for Fall/Winter will raise its curtain next January. The four-day fair will run from January 15-18, 2018 at the Hong Kong Convention and Exhibition Centre. The trade show is expected to host 1,400 exhibitors worldwide who will present an array of new season garments, designer collections, accessories, fabrics and related professional services. As an important event in the global fashion fraternity, the fair opens up opportunities for market expansion with 15,000 buyers attending from 77 countries and regions in its last edition.
Thematic zones meet industry sourcing needs
To optimise buyers’ sourcing experiences, the fair is categorised into thematic zones to provide maximum exposure to different sectors. New to this edition, the Corporate Fashion/Uniform zone will be added to the zones line up to further expand business opportunities. Uniform has always been an indispensable niche with sustainable growth in the clothing market. The Chinese mainland in particular, is undergoing adjustments in its industrial structure, leading to continuous growth in the number of people engaging in the secondary and tertiary sectors, which leads to a trending up in demand for work wear. According to the China National Garment Association, there are 19 industries in China that require wearing of standard uniforms, and the market is estimated to be worth more than RMB300-400 billion a year. The Western European Workwear and Uniform Market is also foreseeing positive outlook. According to Frost & Sullivan, the market is expected to grow at a compound annual growth rate of 2.5 per cent until 2021 and reach EUR8.01 billion.
Well-informed of what the industry is looking for, the fair constantly evolves with improved elements. Following the successful practice of the previous Fashion Week for Spring/Summer held last July, the debut World of Fashion Accessories will also be in place, gathering a consortium of accessories-related exhibitors, including bags, footwear, gloves, legging & socks, and scarves & shawls for buyers to scout matching accessories at ease. Highlights among the other zones are Fashionable Sportswear and Urban Clothing, which make a welcome return to the fair after their successful debut last year. The International Fashion Designers’ Showcase will gather cutting-edge collections of featured designers and fashion design talents around the globe.
Enriching events
The fair delivers an exciting line-up of fashion parades, which serve as marketing platforms for exhibitors to draw the attention of global buyers to their latest designs and collections. Veterans from key international trend forecasting agencies and industry professionals will be invited to unveil latest fashion trends and shed light on updated market information at seminars and forums. Besides being an outstanding sourcing and marketing platform, Hong Kong Fashion Week also presents a great chance to expand business contacts through inviting buyers, exhibitors and industry representatives to join the networking reception.
A Technavio market research estimates the global premium denim jeans market to grow at a CAGR of more than 8 per cent, during the forecast period, as per their latest report. Their study covers the present and growth prospects of the international premium denim jeans market from 2017 to 2021. The report also lists women, men, and children as the three major end-user segments, of which women’s segment accounts for close to 56 per cent market share in 2016.
Technavio expounds three market drivers that are contributing to the growth of global premium denim jeans market: Innovative product designs; Acceptance of denim jeans as a business casual attire; and Increasing preference for high-end and premium designer labels. Branded jeans are constantly innovating to combat fierce competition from counterfeit apparel manufacturers. The new jeans are comfortable because they are made of soft knitted denim. This also provides traditional sportswear functionalities such as thermo-regulation, moisture management, UV protection, anti-rip features and durability.
Narendra Nandaigari, a lead analyst at Technavio for apparel and textile research points out jeans are differentiated from other apparel due to the incredible stretch and flexibility they offer. This is achieved by blending cotton or spandex with the denim. This innovative approach has also helped the vendors to sustain the hike in the price of cotton. Manufacturers of jeans are setting the trend of offering a new generation of fabric by delimiting the boundaries through hybrid blending techniques. For instance, Diesel introduced Jogg Jean, a hybrid jean, which has the characteristics of jersey material yet looks like an authentic denim-made jean.
There is a growing acceptance of denim jeans/jackets as a business casual attire at the workplaces. Google, Zappos, Facebook and Twitter are some of the many organisations that permit employees to dress in casual attire. There is also an increasing preference for high-end and premium designer labels which permits people to showcase their wealth, social status and fashion sense. This has forced brands to focus on the production of a range of jeans. that offer new styles, sizes, colours, designs, and other aesthetic features. These factors in luxury jeans encourage customers to buy more than just one pair of jeans to match with their accessories or current trends.
Huntsman Textile Effects, the high quality dyes and chemical manufacturer who develops innovative solutions including built in freshness, sun protection and reduce water consumption — has introduced Phobotex RSY non- fluorinated durable water repellent (DWR). This will permit brands and retailers to meet global demand for eco-friendly clothing that require extreme rain- and stain-protection.
Internationally, the market for outdoor apparel is growing and customers demand comfort and high-performance protection. Rain- stain- and soil- resistant effects are therefore of prime importance. Today, the industry is shifting away from traditional formulations based on per-fluorinated chemicals (PFCs) due to environmental health and safety concerns.
Lee Howarth, Global Marketing Manager for Finishing at Huntsman Textile Effects disclosed, “Phobotex RSY durable water repellent raises the bar for performance on synthetics, allowing brands to offer high-performance weather protection to outdoor enthusiasts with an assurance of eco-friendly sustainability. As a trusted partner to the industry, Huntsman Textile Effects continues to lead the transition to non-fluorinated DWR alternatives that meet stringent environment, health and safety standards.”
Phobotex RSY durable water repellent is an environmentally friendly, non- fluorinated formulation that textile manufacturers can bank on to produce sustainable textile products without compromising on performance. This new addition complements Huntsman Textile Effects’ existing range of durable water repellents.
Providing effective protection in extreme environments, Phobotex RSY durable water repellent repulses rain, sleet and snow and performs well on synthetics and blends. It is reported to be an ideal solution for high-performance outerwear fabrics while offering breathable comfort and durable water repellence. Fabrics treated with Phobotex RSY durable water repellent also repel stains, so they look new for longer periods of time and can be easily spot cleaned
Trade and business ties between Hong Kong and the Republic of Korea are set to strengthen with the launch of Hong Kong Trade Development Council’s (HKTDC) office in Seoul. The upgraded full-fledged office will further boost Hong Kong’s trade and business promotion in Korea. “Hong Kong and Korea share a long and close partnership,” said Margaret Fong, HKTDC Executive Director. New opportunities have emerged with the Belt and Road Initiative, the Guangdong-Hong Kong-Macau Bay Area development plan and Hong Kong’s recently signed a Free Trade Agreement (FTA) with ASEAN three more good reasons for Korean companies to expand their business in Hong Kong.
We welcome more Korean firms to use Hong Kong as a base to unlock the massive business opportunities that the Belt and Road Initiative and the Bay Area bring,” said Fong. “With the signing of the Hong Kong-ASEAN Free Trade Agreement earlier this month, Hong Kong can offer an additional platform for Korean companies to tap the ASEAN markets,” she added.
The Belt and Road Initiative launched in 2013 aims to reinforce infrastructural and financial links from Asia to Europe. Among the key financing bodies for Belt and Road projects is the Asia Infrastructure Investment Bank, of which Korea is a founding member and the fifth-largest shareholder. With its extensive international connections and world-class services, Hong Kong is a key connecting global businesses to opportunities on the Belt and Road and in the Bay Area.
The Seoul Office is among more than 40 HKTDC offices globally that help promote Hong Kong’s role as a platform for doing business with the Chinese mainland, Asia and the world. Major imports and exports between the two economies include semiconductors, electronic valves and tubes, as well as telecom equipment and parts. Korean companies in Hong Kong are involved in financial services, logistics, transportation and cosmetics, among other sectors.
Guess is currently following a strategy of expanding its presence in Europe and Asia while moderating its presence in the American market. The company is targeting millennials as the primary segment for its apparels, and to that end it is strengthening its digital presence and upgrading its omni-channel capabilities. It is also working to improve its website to improve and simplify the user experience.
According to CEO Victor Herrero, Guess' Americas Retail and Wholesale revenues were still in the red, down 13.4 per cent and 16.8 per cent, though operating margins improved thanks to a profit improvement plan.
Guess has issued its fourth quarter guidance and expects a consolidated net revenue increase between 10 and 12 per cent, GAAP earnings per share and adjusted earnings per share to be in range of $0.48 and $0.55. Full year consolidated net revenue is expected to increase between 6 and 6.5 per cent, GAAP EPS is projected to be between $0.36 and $0.43, and adjusted EPS is expected be in range of $0.56 and $0.63.
Guess has been directly operated in 982 retail stores in the Americas, Europe and Asia and is taking several steps creating a better balance between the American retail and wholesale businesses.
Depression has gripped the knitwear export cluster in Tirupur following a significant decline in exports, in terms of value, in October. Approximately 8,500 units are engaged in manufacturing of textile products and garments in the knitwear hub, apart from a large number of job-working units, the vast majority of them run by households.
And here lies the crunch. Experts say it is the job-working units that see the sword of Damocles hanging by a thread over their head and they may have to close shop as they are unregistered units. These units do not have an industrial licence nor any relevant qualifications to be registered under the new tax regime as they are in the unorganised sector, reveals an exporter.
In the last two months, some workers who turned-entrepreneurs have decided to re-join the workforce just to make ends meet, while others are in the playing the waiting game hoping that things will return to normal. Raja M Shanmugham, President, Tirupur Exporters’ Association reveals, the garment sector has reached its endurance limit. Any delay in government intervention in handholding the sector by way of reinstating the old duty drawback structure and restoring the remission of State levies under RoSL (Rebate of State Levies) would drive them out of business.
Data records readymade garment exports from the country have dramatically dropped, registering a negative growth from June 2017 as against the year ago period. It peaked at a negative growth of 41 per cent in rupee terms in October, registering a turnover of 5,398 crore as against 9,110.75 crore in October 2016. Exporters feel this situation can be avoided if the government extends a line of support as in the past. On the flip side, while there is gloom on the export front, the domestic market is showing signs of a revival.
The Cotton Association of India (CAI) has released the first estimate of the country’s cotton crop, for the current season (October 2017-September 2018), at 37.5 million (375 lakh) bales of cotton, each weighing 170 kg. Last year’s crop was 33.725 million (337.25 lakh) bales (170 Kgs each). The projected increase this year is due to a 19 per cent growth in acreage as against the last season.
India’s cotton balance sheet for this new season will record a surplus with a closing stock of 3.9 million bales. Exports this season are expected to remain at 6.3 million bales of 170 kg each (the same level as last year). Total domestic demand is expected to be 32 million bales. It is not likely that production will exceed beyond 37.5 million bales. Yields this season will be affected by an infestation of pink bollworm and unseasonal rainfalls in cotton-growing areas during September and October. Many farmers diversified to cotton during the kharif season (June-July) following stagnant prices for pulses and oil seeds. Cotton delivery has just begun hence the exact scenario of quality and production will be known only by the end of the month.
As per the Senior Vice Chairman of the All Pakistan Textile Mills Association, Zahid Mazhar the news appearing in sections of the print media quoting the Pakistan Apparel Forum representative that an increase in prices of cotton yarn will have a direct bearing on exports of value added products is baseless and misleading. He noted the widespread resentment regarding the increase in prices of yarn in the domestic market does not paint an accurate picture. He says due to cotton crop failure for the third consecutive year and resultant increase in prices of cotton has increased the cost of doing business of the spinning sector of the country. They are now compelled to meet about 30 per cent of their consumption requirement through import.
Further the imposition of 4 per cent custom duty and 5 per cent sales tax on the import of cotton has further increased the cost of doing business which is already high, compared to competitors in the region, which is the main reason behind the recent upward spiralling price of yarn in the country.
Mazhar disclosed the spinning sector, which is the backbone of the textile value chain, has faced the main brunt of high cost of doing business in the last few years. This has made it unviable. Today, the spinning industry is incurring heavy losses by selling yarn below its cost due to poor demand from domestic consumers. Production of yarn is substantially more than the local consumption, therefore, their exports must be encouraged at all costs, otherwise it will result in permanent closure of mills and resultant unemployment.
Due to this about 140 textile spinning mills have already closed operations resulting in one million workers losing their jobs and another 75 to 80 mills are on the verge of closure. This will add to the unemployment figure by another 0.5 million, he added. The measures taken by the government is only helping the Indian textile industry, as is seen in the exponential rise in import of yarn from India. Due to the closure of these mills Pakistan’s textile exports is also suffering a loss of over $4 billion per annum, he added.
New designs and technical developments will be exhibited across all product divisions will be on display at Heimtextil to be held from January 9 to 12. It will also include items for pets for the first time. The new “All About Pets” section will presents textiles and accessories for four-legged companions. As per event organizer Messe Frankfurt the number of exhibitors including textiles for animals in their portfolio has grown steadily over a number of years.
Nearly 1,500 international manufacturers will present their new collections from bed, bath and table segments across nine hall levels. The products aim to service bedding dealers, wholesalers and online retailers, boutique operators as well as buyers and hotel industry players.
The exhibition will also feature numerous international suppliers of bathroom textiles and accessories. Exhibitors include: Irisette, Billerbeck and Frankenstolz, Mascioni and Dun or Fior. The exhibitors will also be presenting their new products in lifestyle-oriented vignettes among them are Schlossberg, Collection Stiegler and Curt Bauer, Kas International, Martinelli Ginetto, Sorema and Welspun.
Messe Frankfurt is one of the world’s leading trade fair organisers, generating around €645 million in sales and employing 2,297 people. The Messe Frankfurt Group has a global network of 29 subsidiaries and 57 international sales partners, allowing it to serve customers on location in more than 160 countries.
For the last 15 years, a slew global fashion brands have entered Vietnam targeting the middle-income group, these include Mango, UK’s Oasis and GAP. Sweden’s H&M and Spain’s Zara are among the latest entrants in the last few months. At the moment, over 200 foreign fashion brands are present in the country occupying more than 60 per cent of market share. Big fashion brands are interested in Việtnam because of its high annual average market growth rate of between 15 to 20 per cent.
Looking at the crowds that these brands have generated in their opening days, it is evident that they are meeting a demand and domestic companies are now looking at ways to deal with competition by changing their production methods and business practices to stay afloat. With textile and garment firms tend to specialise in production and not in design, branding and distribution, they have to adapt fast to be able to compete with foreign brands.
Đặng Phương Dung, Vice Chairwoman, Secretary General at Việtnam Textile and Apparel Association (VITAS), says growth of international brands would compel domestic companies to diversify their products in all market segments. The success of grand openings by H&M and Zara can be attributed to good marketing and advertising but it is undeniable that “fast fashion” is now an established customer favourite in Việtnam. Its young population and rapid improvement in living standards has made the country an attractive and fertile territory for international fashion brands.
These firms produce wide ranges of clothing for different market segments and sell them at an average price due to diminishing production costs that result from mass production. In the fashion industry, foreign companies tower over their domestic counterparts in terms of capital, professionalism, marketing and customer service, and most importantly, online selling.
