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The ITM 2024 International Textile Machinery Exhibition, held from June 4-8 at the Tuyap Fair and Congress Center in Istanbul, solidified its status as a premier global event in the textile machinery industry. The exhibition, organized in partnership with Tuyap Tum FuarcılıkYapım Inc., Teknik Fairs Inc., and in cooperation with the Textile Machinery and Accessories Industrialists Association (TEMSAD), set new benchmarks with a significant increase in exhibitors, visitors, and business deals.
Unprecedented participation and global reach
This year’s event spanned 13 halls, covering an impressive 120,000 square meters. ITM 2024 drew participation from 1,385 companies and company representatives from 71 countries, attracting 66,200 visitors from 99 countries. Notably, 45 per cent of these visitors were international, highlighting the exhibition’s global appeal. The diversity in visitor demographics was further enhanced by Istanbul’s strategic location and liberal visa policies, making it easier for professionals from various countries to attend.
A key factor contributing to the diverse attendance was the ease of travel to Istanbul, coupled with the absence of visa restrictions. Visitors from across the globe, including countries as far-flung as Afghanistan, Brazil, Japan, and Zimbabwe, converged in Istanbul, making ITM 2024 a melting pot of cultures and business opportunities. This diversity was particularly beneficial for exhibitors, many of whom had the chance to engage with customers from regions typically hindered by stringent visa regulations in Europe.
Strategic collaborations and robust sales
The exhibition not only facilitated global networking but also witnessed substantial business transactions. From the outset, the exhibition halls were bustling with activity as exhibitors engaged with potential buyers and partners. The event proved to be a fertile ground for securing new collaborations and boosting machine sales. Over the five days, the exhibition generated a total business volume exceeding €1.5 billion, a significant contribution to both the textile machinery sector and the broader economy. This robust trade activity marked a revitalization of the industry, which had been experiencing a slowdown since September 2022.
Showcasing the future of textile technology
Under the banner “Discover the Future,” ITM 2024 turned into a vibrant showcase of cutting-edge textile technologies. Hundreds of manufacturers displayed their latest innovations, drawing the attention of global investors and trade delegations. Attendees had the unique opportunity to witness world premieres of innovative technologies across various sectors, including weaving, knitting, yarn production, digital printing, and denim finishing.
The exhibition emphasized sustainability and digitalization, with a strong focus on nature-protecting technologies. Visitors were keen to explore these advancements and gathered valuable insights from experts on integrating these innovations into their operations. For many, ITM 2024 served as a platform to chart their future investment strategies, driven by the need for more efficient and sustainable production processes.
Planning ahead: ITM 2026 already on the horizon
The success of ITM 2024 has already sparked interest in the next edition of the exhibition. Many companies, buoyed by the exceptional sales and networking opportunities, have wasted no time in securing their spots for ITM 2026. The registration points were abuzz throughout the event as companies lined up to ensure their participation in what promises to be another landmark exhibition.
ITM 2024 not only broke records but also set the stage for the future of the textile machinery industry. Its impact on global trade, innovation, and industry collaboration will resonate long after the event, paving the way for an even more dynamic and influential ITM 2026.
Colin Huang, founder of PDD Holdings, has become China's richest person, surpassing ZhongShanshan.
Huang, a former Google employee, launched e-commerce giants Pinduoduo and Temu. With a net worth of $48.6 billion, he's now the world's 25th wealthiest.
Temu, expanding globally, faces scrutiny for alleged manipulative practices.
India is set to make a strong impact at Yarn Expo Autumn 2024, held from August 27-29 at the National Exhibition and Convention Center in Shanghai. As a leading cotton producer, India will showcase its diverse range of cotton products in Hall 8.2, where over 40 Indian exhibitors will present their offerings, including cotton, melange, greige, and fancy yarns.
Organised by the Cotton Textile Export Promotion Council (Texprocil), the India Pavilion is the largest it has been in a decade, standing out among 500 exhibitors from 15 countries.
Indian suppliers continue to participate in this event due to its effectiveness as a business platform and the allure of the expansive Chinese market. MuraliBalakrishna, Joint Director of Texprocil, highlighted the strong demand for India's twisted cotton yarn, citing the Expo’s role in boosting global visibility for Indian exporters.
Notable Indian exhibitors include Indo Industries Pvt. Ltd., a prominent exporter of 100 per cent cotton yarn and fabrics to over 45 countries, and MananTextech Global Pvt. Ltd., a vertically integrated textile company offering a wide array of organic and man-made products. Another key participant is Padwa Worldwide LLP, known for its premium 100% cotton yarn produced with advanced technology.
Yarn Expo Autumn 2024 will feature more than 200 cotton suppliers, reflecting the high demand for cotton, which was one of the most sought-after categories at the previous Spring and Autumn editions.
Key global exhibitors include Heng Feng (Hong Kong) Co Ltd, PT Indo-Rama Synthetics Tbk (Indonesia), and Square Textiles PLC (Bangladesh), all bringing their unique cotton and blended yarn offerings to the event.
Running concurrently with Intertextile Shanghai Apparel Fabrics – Autumn Edition, CHIC, and PH Value, Yarn Expo Autumn will create significant business opportunities for participants, making it Asia’s premier international sourcing hub for yarns and fibers.
In the USFIA ‘2024 Fashion Industry Benchmarking Study’ led by ShengLu of the University of Delaware, managing forced labor risks has emerged as a principal concern for US fashion companies, competing closely with economic pressures. The study underscores a significant shift in industry priorities as companies navigate heightened regulatory landscapes and ethical sourcing demands.
Increased scrutiny with UFLPA implementation
The enactment of the Uyghur Forced Labor Prevention Act (UFLPA) has intensified compliance efforts among fashion companies. This legislation has brought forced labor issues to the forefront, prompting brands to adopt a range of strategies to mitigate risks within their supply chains. Over 90 per cent of surveyed companies are now mapping their supply chains to uncover and address potential forced labor issues.
Shifting sourcing strategies and emerging alternatives
In response to forced labor concerns, US fashion companies are dramatically altering their sourcing strategies. The study reveals a notable reduction in reliance on China, with a record number of companies sourcing less than 10 per cent of their products from the country. Nearly 80 per cent respondents are actively reducing their sourcing from high-risk nations and exploring new sourcing destinations.
Emerging as prominent alternatives are India and countries within the Dominican Republic-Central America Free Trade Agreement (CAFTA-DR). These regions are gaining traction as viable sourcing hubs as companies seek to diversify their supply chains and reduce dependency on traditionally high-risk areas.
Challenges in the pursuit of ethical sourcing
Despite these efforts, the transition is not without challenges. The report highlights persistent issues such as limited textile raw material availability in CAFTA-DR countries. Approximately 75 per cent of respondents cite this shortage as a significant barrier to expanding sourcing within these regions. Furthermore, transparency and enforcement issues with U.S. Customs and Border Protection (CBP) continue to complicate compliance efforts.
Industry commitment to ethical practices
The 2024 study indicates a strong and growing commitment among USfashion companies to address forced labor concerns and embrace ethical sourcing practices. Nearly 80 per cent companies plan to further reduce their apparel sourcing from China over the next two years. As the industry adapts to these new realities, the focus on ethical sourcing is set to remain a central theme in shaping the future of global fashion supply chains.
The comprehensive approach outlined in the report reflects an industry in transition, navigating a complex landscape while striving to uphold ethical standards in a rapidly evolving regulatory environment.
The thrift market, once relegated to dusty, cluttered stores with questionable finds, has undergone a change over the years. It's now a flourishing industry, driven by a number of factors: economic pressures, environmental consciousness, and a desire for unique fashion.
The rise of conscious consumerism
At the heart of the thrift market's resurgence is a shift in consumer mindset. A growing awareness of the environmental impact of fast fashion has propelled second-hand shopping into the mainstream. Consumers are increasingly seeking sustainable alternatives to new clothing, and thrifting offers a compelling option.
Environmental impact: The fashion industry is a significant contributor to pollution, water consumption, and waste. By opting for second-hand clothing, consumers can reduce their carbon footprint and conserve resources.
Economic benefits: Thrifting can be a cost-effective way to build a wardrobe. With economic uncertainties looming, consumers are looking for ways to save money without sacrificing style.
Affordability: With rising living costs, thrifting offers a cost-effective alternative to purchasing new clothing.
Uniqueness: Thrift stores provide a treasure trove of one-of-a-kind pieces, allowing shoppers to curate distinctive wardrobes.
Anti-fast fashion sentiment: A growing awareness of the ethical implications of fast fashion has led many consumers to seek out more sustainable and ethical alternatives.
Global thrift market landscape The thrift market is a global phenomenon, with varying levels of development in different regions.
North America: The US and Canada have a mature thrift market with established chains like Goodwill and Salvation Army. Online platforms like ThredUp and Poshmark have further expanded the reach of second-hand fashion.
Europe: Countries like the UK and Germany have a strong tradition of charity shops and vintage boutiques. The market is growing rapidly, with online platforms gaining traction.
Asia: While still in its nascent stages, the thrift market in Asia is showing significant potential. Countries like Japan and South Korea have a thriving resale culture, and platforms like Depop and Mercari are gaining popularity.
The thrift market is characterized by a diverse range of players, includingNon-profit Organizations like Goodwill, Salvation Army, and other charitable organizations that operate thrift stores to generate revenue for their missions. Then there are for profit thrift stores where companies like Plato's Closet and Buffalo Exchange specialize in buying and selling second-hand clothing.Online resale platforms like ThredUp, Poshmark, Depop, and Vinted have revolutionized the way people buy and sell second-hand items.Andconsignment shops too act as intermediaries between sellers and buyers, charging a commission on sales.
The future of thrifting
Despite its growth, the thrift market faces challenges. Supply chain disruptions, inconsistent product quality, and the potential for counterfeit items are some of the issues that need to be addressed. However, these challenges also present opportunities for innovation. For example, some companies are developing technology to authenticate secondhand items, ensuring the quality and authenticity of products. Others are focusing on creating a more seamless and enjoyable shopping experience through improved online platforms and personalized recommendations.
The thrift market is poised for continued growth as consumers become increasingly conscious of sustainability and affordability. As the industry matures, we can expect to see further innovation, expansion into new product categories, and a stronger integration of second-hand shopping into the mainstream retail landscape. By embracing the circular economy and promoting sustainable consumption, the thrift market has the potential to become a driving force in shaping a more environmentally responsible future.
The introduction of the bipartisan ‘Fighting for America Act’ has put the global e-commerce industry in a quandary, particularlyChinese giants like Shein and Temu. The legislation aims to close a loophole that has allowed millions of low-value goods to enter the US duty-free, a practice that has significantly benefited these companies.
Experts point out the potential impact of this act on Chinese e-commerce is profound. "This is a game-changer," opines Steve Dennis, CEO,SageBerry Consulting, a renowned e-commerce analyst. "It directly challenges the business models of companies that have thrived on low prices and fast shipping."
The act, if passed, will eliminate de minimis exemptions for most textile and apparel imports, including those from China. This means that these products will now be subject to customs duties, significantly increasing their cost for US consumers. "This could force a radical shift in the strategy of Chinese e-commerce companies," explains Mary Ellen Proulx, President, Retail Globalization, Inc.
Chinese e-commerce imprint on US market
Chinese e-commerce platforms have rapidly gained market share in the US, leveraging low prices, fast shipping, and a vast product assortment. A report by Coresight Research highlights, the US market for fast fashion, dominated by Chinese players, is expected to reach $112 billion by 2025.
However, this rapid growth has raised concerns about labor practices, intellectual property theft, and unfair competition. A Peterson Institute for International Economics study found Chinese e-commerce has resulted in a trade deficit of $375 billion for the US in 2022.
While the full implications of the Fighting for America Act are yet to be determined, potential outcomes include:
• Price hikes: To offset increased costs, Chinese e-commerce platforms might be forced to raise prices, potentially impacting their competitive edge.
• Supply chain adjustments: Companies may explore sourcing products from countries with existing free trade agreements with the US or invest in domestic production to mitigate the impact of tariffs.
• Business model overhaul: Some companies might need to rethink their business models, focusing on higher-value products or niche markets to remain profitable.
• Increased competition for US retailers: With higher costs for Chinese imports, US retailers could see a surge in demand for domestically produced goods, levelling the playing field.
However, the Chinese e-commerce industry is known for its resilience and adaptability. "These companies have shown remarkable agility in the past," noted Neil Saunders, Managing Director of GlobalData Retail. "They might find innovative ways to navigate these challenges, perhaps by focusing on product differentiation or premiumization."
While the Act is still to be passed, the e-commerce industry is closely watching the legislative process. If enacted, it could mark a turning point in the global e-commerce landscape, with far-reaching consequences for both consumers and businesses.
The Clothing Manufacturers Association of India (CMAI) has voiced concerns about the recent instability in Bangladesh, which has disrupted the supply chain for several weeks. However, the CMAI remains optimistic that the disruptions may not severely impact Bangladesh's garment industry due to strong business relationships and existing orders.
Despite this optimism, the CMAI warns that prolonged instability could have lasting effects on Bangladesh's industry and could also impact India. Indian exporters might see opportunities as international buyers seek alternative sources, and Indian brands currently sourcing from Bangladesh might shift some of their orders to domestic manufacturers. Conversely, India's exports of raw materials to Bangladesh could suffer.
Retailers and brands with franchise stores in Bangladesh have already experienced disruptions, which are expected to continue for another two weeks before normalcy is restored.
Rajesh Masand, President of CMAI, acknowledged the disruptions but expressed confidence that the garment industry, which makes up 80 per cent of Bangladesh's exports, is too crucial for the government to allow prolonged disturbances. He believes that with the new leadership and the military's influence, stability will return quickly. Masand noted that the newly appointed Prime Minister’s intellect and maturity would likely ensure the swift restoration of normal operations.
The National Council of Textile Organizations (NCTO) President and CEO, Kim Glas, has praised the introduction of the bipartisan "Fighting for America Act," a bill aimed at eliminating De Minimis exemptions for import-sensitive products, particularly textiles and apparel.
The legislation, spearheaded by Senators Ron Wyden (D-OR), Sherrod Brown (D-OH), Bob Casey (D-PA), Susan Collins (R-ME), and Cynthia Lummis (R-WY), seeks to tighten regulations on millions of low-value, duty-free shipments entering the US daily. The NCTO believes this measure will help level the playing field for domestic manufacturers who have been severely impacted by the influx of such imports.
Glas highlighted that the bill specifically targets textile and apparel imports, especially those from China, which have been taking advantage of the De Minimis loophole. The growth of e-commerce platforms like Shein and Temu has exacerbated this issue, flooding the US market with low-cost, often illegal imports that threaten domestic production and consumer safety.
The proposed legislation includes provisions to impose new penalties, require additional data reporting, and introduce small customs fees on De Minimis packages. Glas expressed confidence that the bill would protect the US textile industry, which employs over 501,000 workers and generates $64.8 billion in annual output.
Glas emphasized that this comprehensive approach is essential for protecting the domestic manufacturing supply chain.
The 15th edition of South Asia’s leading textile sourcing platform, Intex Sri Lanka, began yesterday at BMICH, Colombo, and will run until August 9. The event has been pivotal in advancing Sri Lanka’s textile and apparel industry over the past decade, fostering trade, innovation, and business growth.
Key figures at the Grand Opening included Satyanjal Pandey, Deputy High Commissioner of India in Colombo, and Bernard Kingsley, Chairman & CEO of the Export Development Board of Sri Lanka. Exhibitors from over 12 countries, including China, India, Japan, and the USA, are showcasing the latest in natural and synthetic fibers, fabrics, accessories, and software solutions across four exhibition halls.
International buyers from more than 20 countries, including Russia, Mexico, and the UAE, are in attendance, alongside major Sri Lankan companies like MAS Holdings and Brandix, eager to explore new industry trends.
ArtiBhagat, Executive Director of Worldex India and organizer of Intex Sri Lanka, highlighted the event's significant impact on the global textile and apparel industry. She noted that Intex Sri Lanka is establishing new industry standards by linking local manufacturers with international stakeholders, fostering a supply chain that is resilient, efficient, and sustainable.
The event also features theTextile Association India(TAI) Overseas Conference, organized by the Textile Association India, and the Trendz Now Innovation Zone by the University of Moratuwa, highlighting the future of fashion and technology. Additionally, InMac, an international garment machinery and technology show, debuts this year, offering solutions to enhance Sri Lanka's global competitiveness.
Europe's leading responsible sourcing events, Source Home & Gift and Source Fashion, have launched an Intelligence Series in partnership with Retail 100, aimed at providing crucial guidance on international sourcing.
The Intelligence Series, recorded in Source studios, offers practical advice for navigating the complexities of home and gift sourcing. Retail 100, with over a century of retail experience, brings expertise across various sectors, including fashion, homeware, and beauty.
The collaboration begins with a “Beginner’s Guide to Sourcing,” featuring insights from former John Lewis buyers Anna Berry and Sara Allbright. This video covers essential topics such as planning sourcing routes, creating a critical path, and understanding the nuances of sustainable and responsible sourcing.
Following this, the series delves into “Sourcing Intelligence - Country Focus” videos, which explore the specifics of sourcing materials from regions such as Turkey, India, Africa, Bangladesh, China, Pakistan, and Portugal. Each video provides expert knowledge on the challenges and opportunities unique to these regions, empowering businesses to make informed sourcing decisions.
Suzanne Ellingham, Sourcing Director at Source, expressed excitement about the partnership, emphasizing the value of Retail 100’s insights. Sara Allbright of Retail 100 highlighted the importance of sharing their extensive experience to educate those interested in global sourcing, particularly in the home, gift, and fashion sectors.
