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The Uttar Pradesh Government plans to set up 11 private textile parks across the state with the first of these parks to be launched in Shamli district with an investment of Rs 726 crore.
The park will help boost local production, reduce dependency on other states and China for raw materials, and strengthen the textile sector within Uttar Pradesh. Of the proposed 11, six will be developed in Gorakhpur, Mau, Bhadohi, Aligarh, Baghpat, and Shamli. Alok Kumar, Principal Secretary of Handloom and Textiles, highlights, these parks will support local manufacturing and cut reliance on imported materials. Additionally, the government will also develop a large-scale PM Mitra Park on 1,000 acre in Lucknow.
The Shamli textile park will be developed by Lonex Textile Park with an investment of Rs 600 crore. The park will be developed by state’s Approval Committee under the Uttar Pradesh Textile and Garmenting Policy-2022. Slated to be operational by Dec’25, the park will create approximately 5,000 direct and indirect jobs.
Located on 26.75 acre in Jhinjhana village, Kairana tehsil, the Shamli textile park will host 17 production units dedicated to weaving, dyeing, printing, and garmenting. The site will include an administrative building, bank/ATM, training and testing center, rest house, canteen, and first aid facilities. Additionally, the park will feature sustainable infrastructure, including a zero liquid discharge system, a combined effluent treatment plant (CETP), boiler, water and steam distribution, power systems, and a weighbridge.
The newly released USDA’s Nov’24 World Agricultural Supply and Demand Estimates (WASDE) report indicates, cotton production, exports, and global trade are likely to decline during the month, reflecting a tightening supply.
For the US, the cotton balance sheet for 2024/25 reveals, cotton production and exports are likely to decline slightly alongside increased ending stocks. The USDA’s National Agricultural Statistics Service (NASS) lowered US the cotton production estimates by 10,000 bales to just under 14.2 million bales. This change includes a 200,000-bale increase in Georgia’s crop, which is balanced by a similar decrease in Texas, while the national yield estimate remains steady at 789 pounds per harvested acre.
With reduced global cotton demand and imports, US cotton exports are also are also decline by 200,000 bales to 11.3 million, while ending stocks may rise by 200,000 bales to 4.3 million, resulting in a stocks-to-use ratio of around 33 per cent. The season average upland cotton price remains at 66 cents per pound. The USDA has made no adjustments to the 2023/24 U.S. cotton balance sheet.
Globally, the 2024/25 balance sheet reflects lower production, consumption, trade, and stocks. Production is reduced by 460,000 bales, with Pakistan and Turkmenistan experiencing the largest cuts. Global consumption is down by 515,000 bales, driven by declines in Turkey and Pakistan. Ending stocks are also lower by 574,000 bales, with significant reductions in India, Turkmenistan, and Pakistan, which are only partially offset by increases in the U.S. and Uzbekistan.
Global cotton trade is likely to decline by 295,000 bales due to decreased imports by Turkey, although imports by Uzbekistan and Egypt are likely to increase. The report also includes historical revisions to the 2023/24 global balance sheet, resulting in lower ending stocks due to revised production estimates.
In an MoU signed with the Cotton Textiles Export Promotion Council (TEXPROCIL), Better Cotton aims to promote India-grown cotton globally, focusing on quality and sustainability.
Last year, TEXPROCIL launched ‘Kasturi Cotton’ in collaboration with the Government of India and the Ministry of Textiles, to establish the country’s first branded cotton standard to emphasise the high-quality of the 0fiber.
This partnership combines the strengths of both organisations, with Better Cotton advancing sustainable practices and Kasturi Cotton symbolising premium fiber quality. The collaboration aims to position Indian cotton as both sustainable and high quality, potentially allowing companies to secure better prices by meeting both Better Cotton and Kasturi Cotton standards.
The collaboration of Better Cotton with TEXPROCIL highlights the impressive qualities of Indian cotton, and offers businesses an opportunity to elevate cotton pricing by adhering to these standards, says, Jyoti Narain Kapoor, Director, Better Cotton- India Program.
Dr Siddhartha Rajagopal, Executive Director, TEXPROCI, adds, this initiative links two critical aspects—sustainability and quality—marking a positive shift for India’s cotton industry.
As part of the MoU, TEXPROCIL will provide training for Better Cotton Member gins interested in aligning with the Kasturi Cotton standard and promote Better Cotton’s mission across its network of 2,000 companies in India. Better Cotton plans to engage more Indian cotton gins, raising awareness of sustainable sourcing benefits and supporting supply chain integration across the country.
The partnership also includes joint workshops for cotton gins across India, focusing on sustainable cotton production and the advantages of aligning with both initiatives.
Hanes Brands reported s 2.5 per cent decline in revenues to $937 million during Q3, FY24 compared to the corresponding period in the previous year.
Despite a 1 per cent decline in net sales in the US, the company attributed its ‘consumer-centric’ strategy with younger consumers as the reason for strong brand momentum. This includes targeted investments and innovations in core brands such as Hanes, Maiden form, and Bali. Meanwhile, international sales increased by 1 per cent.
During the quarter, Hanes brands also finalised the sale of its brand Champion, following its announcement to divest the active wear line to Authentic Brands Group. The sale is a part of Hanes Brands’ strategy to streamline operations and refocus on its innerwear segment.
The sale of the Champion brand and Hanes brands’ sharper focus on core innerwear could support long-term sales growth and margin improvements, says David Swartz, Senior Equity Analyst, Morningstar Research Services.
Hanes Brands also plans to reduce its debt by $1 billion in H2, FY2, largely supported by proceeds from the Champion sale. As of October, the company had already reduced its debt by $870 million. The strong quarterly performance prompted Hanes Brands to raise its full-year projections for operating profit and cash flow, now forecasting $174 million and $250 million, respectively.
Emphasising the company’s progress toward becoming a ‘more focused, simplified business, Steve Bratspies, CEO, notes, Hanes Brands has improved its cost structure, operational efficiency, and inventory levels. These strategic actions
Steve Bratspies, CEO, will allow the company to invest in growth and continue reducing debt through 2025, he adds. The company’s focus will drive revenue growth starting in the fourth quarter, he affirms.
Move over athleisure, jeans are back! After a period of sales slump and stiff competition from comfort-focused clothing like athileisure, denim is experiencing resurgence. Market research reveals an industry shaking off the pandemic blues and embracing new trends to reclaim its position as a wardrobe staple. Recent reports from research groups like Circana and retail intelligence firms like Edited suggest denim is staging a comeback. This revival is due to factors like innovative styles, sustainable practices, and a renewed appreciation for classic fashion.
Jeans sales on the rise
According to Circana, denim sales in the US reached $18.8 billion in2023, up from $17.5 in 2021, signalling renewed interest in the category. EDITED's data further supports this trend, showing a significant rise in the number of new jean styles arriving in stores. EDITED study shows so far the broad denim category is selling well. New stock for men and women arriving on websites in the US and UK for fall is up 30 per cent compared to last year. The number of new styles that are selling out in the majority of sizes is up 51 er cent, showing demand is still high. This resurgence is not limited to the US; globally, jeans are experiencing a revival, with brands reporting increased sales and consumer interest.
Table: Regional jeans sales
|
Region |
Sales growth (YoY) |
|
North America |
4% |
|
Europe |
3.50% |
|
Asia Pacific |
6% |
Source: Circana
Despite the positive signs, the jeans industry still faces challenges. One major challenger is athleisure. The comfort and versatility of athleisure wear have led many consumers to ditch their jeans in favor of leggings and joggers. Consumers are increasingly looking for comfortable and versatile jeans that can be dressed up or down. Moreover, the shift to remote work has reduced the need for formal attire, impacting the demand for jeans, especially in the workplace. And one major concern about denim or jeans is sustainability. The traditional denim manufacturing process is resource-intensive, raising environmental concerns among conscious consumers.
One of the biggest hurdles for jeans has been the constant shift in style trends. The dominance of skinny jeans for over a decade led to a desire for fresh silhouettes and styles. With the rise of diverse body shapes and sizes, finding jeans that fit well and flatter can be a challenge. This rapid evolution makes it challenging for consumers to keep up and for brands to anticipate the next big thing.
What’s driving revival
As studies have now shown jeans are slowly making a comeback. So what’s driving this revival?
Wide-leg styles: Loose-fitting, comfortable wide-leg jeans are gaining popularity, offering a stylish alternative to skinny jeans.
Sustainable denim: Brands are increasingly adopting eco-friendly practices, using recycled materials and less water in production.
Vintage and Y2K aesthetics: The resurgence of vintage fashion and Y2K trends has brought back styles like low-rise and bootcut jeans. Baggy jeans, low-rise waists, and distressed denim are making a comeback, all because of Gen Z's fascination with all things 90s.
Customization and personalization: Brands are offering customization options, allowing consumers to personalize their jeans with unique washes, distressing, and embellishments.
Premiumization: Consumers are investing in higher-quality denim, with an emphasis on craftsmanship, durability, and sustainable materials.
Workwear influence: Utilitarian styles with durable fabrics and functional details are gaining popularity.
Take Levi's, a quintessential denim brand for example. They faced sales decline in the early 2020s but have managed to rebound by first embracing new styles. They introduced relaxed fits and wider leg options that worked well for consumers. Investing in more sustainable production methods and materials was another smart strategy they adopted. Their ‘Buy Better, Wear Longer’ campaign emphasizes the durability and longevity of their jeans, appealing to environmentally conscious consumers. And to work up nostalgia they re-release classic styles tapping into vintage trends. "We're seeing a real resurgence in denim, driven by a desire for both style and comfort," says a Levi's spokesperson. "Consumers are looking for jeans that fit well, feel good, and reflect their personal style."
Meanwhile, designers have started to emphasize more athletic or sporty looks in denim, such as Miu Miu’s track jackets and windcheaters. In coming months, there could be more mixing of styles — rather than full athleisure worn during the pandemic or the subsequent rush into denim.
A high-powered roadshow held in Mumbai on November 8, 2024, has ignited excitement for Bharat Tex 2025, India's premier textile exhibition. The event brought together industry leaders, government officials, and export promotion councils to showcase the strength of India's textile value chain and promote the upcoming expo.
Roop Rashi, Textile Commissioner of India, expressed her enthusiasm for the collaborative spirit driving Bharat Tex. She praised the industry's commitment to showcasing India as a one-stop shop for all things textile, embodying the "India that is Bharat" ethos. Rashi highlighted the government's role in ensuring a robust ecosystem for the industry, including access to raw materials and favorable market conditions.
Narendra Goenka, Chairman of Bharat Tex 2024 and AEPC, set the stage by emphasizing the vital role of the textile industry in India's economy. He highlighted its position as the second-largest employer and a significant contributor to GDP and export earnings. Goenka lauded the government's vision for Bharat Tex, aiming to rival major international textile shows and propel India towards its ambitious export target of $100 billion by 2030.
Bhadresh Dodhia, Chairman of MATEXIL, provided a detailed overview of Bharat Tex 2025, scheduled for February 14-17 at Pragati Maidan and February 12-15 at India Expo Mart. He outlined the comprehensive showcase planned across both venues, covering the entire textile value chain from fibre to fashion, including co-located shows on garment machinery and dyes & chemicals. Dodhia emphasized the organizers' focus on attracting top-tier international buyers and delivering impactful knowledge sessions.
Dr. Siddharth Rajagopal, Executive Director of TEXPROCIL, delved into the intricacies of Kasturi Cotton, an initiative to brand and elevate Indian cotton in the global market. He explained the rigorous quality checks, traceability through blockchain technology, and sustainability focus underpinning Kasturi Cotton. Rajagopal positioned Kasturi Cotton as a movement to redefine global perceptions of Indian cotton and ensure higher returns for farmers.
Navdeep S. Sodhi, Partner at Gherzi Textile Organization, provided insights into the mega trends shaping the textile and apparel industry. He identified three major waves of transformation: the phasing out of the Multi-Fibre Arrangement, the rise of China, and the current wave driven by sustainability, digitalization, and diversified sourcing. Sodhi emphasized the need for India to adapt to these trends and capitalize on the opportunities presented by shifting supply chains.
In his second presentation, Sodhi analysed the Indian textile and apparel industry's trajectory, outlining the investments and strategic pillars needed to achieve the government's ambitious growth targets. He stressed the importance of public-private partnerships, infrastructure development, and a supportive policy environment to propel India's textile industry to new heights.
The Mumbai roadshow served as a powerful platform to build momentum for Bharat Tex 2025. The event underscored the commitment of industry stakeholders and the government to position India as a global textile powerhouse. With its focus on innovation, sustainability, and collaboration, Bharat Tex 2025 is poised to be a landmark event for the Indian textile industry.
Hossain Ahmed from Bangladesh's National Board of Revenue (NBR) stated that despite significant growth in formal trade between Bangladesh and India, informal trade between the two countries remains substantial, estimated at $11 billion.
This issue, discussed at an American Chamber of Commerce in Bangladesh (AmCham) event, highlights the serious revenue loss from untaxed goods, including textiles. In 2022-23, Bangladesh-India trade totaled $16 billion, with Bangladesh importing $14 billion, largely in textiles and related goods. However, the informal influx impacts revenue collection, limiting the government’s ability to tax these imports.
Ahmed cited informal textile imports as an area of concern, with products like sugar and textiles frequently crossing borders without customs checks. He noted the estimate arose from a recent World Customs Organization (WCO) meeting.
Additionally, the event underscored the need for stronger Intellectual Property Rights (IPR) laws to attract foreign investors, particularly in light of Bangladesh’s upcoming graduation from Least Developed Country status in 2026. Local and foreign investors stressed improved IPR implementation to ensure Bangladesh’s competitiveness in global markets.
Speakers included AmCham President Syed Ershad Ahmed and Foreign Investors Chamber of Commerce and Industry (FICCI) President Zaved Akhter.
The European Union (EU) has warned e-commerce platform Temu over alleged violations of consumer-protection laws, adding pressure on the company shortly after the EU launched a separate investigation under its Digital Services Act.
The European Commission, alongside regulators from Belgium, Germany, and Ireland, demanded that Temu address ‘misleading practices’ that include fake discounts, deceptive reviews, and hidden customer service details. They cited tactics such as the ‘fortune wheel’ game, where key terms are obscured, as violating the EU's product safety standards.
Temu, owned by Chinese parent company PDD Holdings, pledged cooperation, stating it is adapting to European regulations. The EU has given Temu a month to propose solutions, if unsatisfactory, the company could face fines based on its revenue in individual countries. This move aligns with the EU’s broader efforts to hold large digital platforms accountable for consumer rights and transparency.
As against competitors like China, Vietnam and India which experience growth, Bangladesh’s RMG exports to the United States declined by 6.28 per cent Y-o-Y to $5.21 billion in Jan-Sep’24period as against $5.77 billion registered in the same period in 2023. Bangladesh’s RMG exports volumes to the US also declined by 1.49 per cent to 1.73 billion sq m during the period, shows data by the US Department of Commerce’s Office of Textiles and Apparel (OTEXA).
Despite thisdecline, Bangladesh continued to be the third-largest apparel exporter to the US, holding a 9.07 per cent market share, behind China at 21.06 per cent and Vietnam at 18.75 per cent. Notably, Vietnam's RMG exports to the US increased by 1.22 per cent to $11.21 billion, while India’s shipments grew by a modest rate of0.47 per cent to $3.63 billion. RMG exports by Cambodia and Pakistan to the US also increased by 7.09 per cent and 2.32 per cent, respectively.
Exporters cite domestic challenges such as extended lead times, inconsistent energy supplies and high operational costs as factors contributing to Bangladesh’s negative growth. Additionally, recent gas and electricity shortages have disrupted factory operations in the country, preventing them from running at full capacity. Further straining the sector, unrest and political instability have further is affecting production schedules and raising concerns about potential shifts in work orders.
A study by the US Fashion Industry Association (USFIA) indicates, diversifying their sourcing strategies, American fashion companiesareexploring emerging destinations like India. Supply chain disruptions, shipping delays, and geopolitical concerns remained top issues of concerns for US brands in 2024.
China’s apparel exports to the US also declined by 2.28 per cent to $12.50 billion. While overall US apparel imports decreased by 2.57 per cent to $59.32 billion in the first nine months of 2024, the volume of these imports rose by 2.57 per cent, with imports from China increasingby 4.06 per cent, imports from Vietnam rising by 6.66 per cent, shipments from India expanding by 9.58 per cen, imports from Cambodia increasing by 11.43 per centand those from Pakistan rising by 1.63 per cecnt from Pakistan.
Fazlul Hoque, Former President, BKMEA, notes, while global demand had been sluggish, it is starting to recover, with work orders improving despite pricing pressures. Mahmud Hasan Khan, Rising Group adds, the upcoming work-order outlook for early 2025 is positive, though pricing remains challenging. Exporters acknowledge, compounded by gas shortages and banking delays in opening back-to-back LCs, Bangladesh’s lead-time issues pose significant obstacles.
These challenges give China and Vietnam, with their efficient lead times and reliable energy supplies, a competitive edge. Exporters stressed that meeting shorter lead times is crucial for maintaining orders, which Bangladesh struggles to achieve amid its current constraints.
One of the largest vertically integrated textile (yarn, bath, bed linen) paper (wheat straw-based) and chemical manufacturers, the Trident Group increased its Profit After Tax (PAT) to Rs 84 crore in Q2, FY25 as against a PAT of Rs 73 crore in Q1, FY25 ended June’24.
The Group’s total standalone income for Q2FY25 stood at Rs 1,721 crore, while Earnings Before Interest, Depreciation, Tax, and Amortiaation (EBIDTA) increased to Rs 236 crore during the quarter.
In Q2, FY25, the Trident Group’s standalone revenue for Yarn, Home Textile and Paper & Chemical segments remained muted at Rs 902 crore, Rs 980 crore, and Rs 233 crore. respectively, while retaining margins and marginal improvement of in its margins for the Bath Linen Business.
Trident also established a wholly-owned subsidiary, titled, Trident Group Enterprises Pte during the quarter. The Group showcased its diverse product range at the prestigious NY Home Fashion Market Week in New York. With exports contributing 57 per cent of revenue, the group continues to invest heavily in enhancing production capabilities and sustainability initiatives.
Additionally, Trident Group hosted its largest 5-day retailer meet in New Delhi, attracting over 1,500 retailers during the quarter.
