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Finch, a Chinese swimwear brand, uses Repreve recycled fiber in its products. Finch has a commitment to transparency and building a sustainable supply chain. The brand identifies with the slow-fashion movement and repeats 85 per cent of its prints and styles year after year to encourage timeless, responsible purchasing. It designs all its signature prints in-house and works only with manufacturing partners that share its core values of social and environmentally responsible production.
Since launching swimwear made from Repreve fiber in 2013, Finch has rapidly established partnerships with some of the most luxurious names in travel, including Six Senses, W Hotels, Mandarin Oriental, Ritz-Carlton, Park Hyatt and Naked eco-resorts.
Finch offers timeless, sustainable, luxury swimwear, resort apparel and accessories in signature prints. Finch’s swimwear for women, men and children is made exclusively from Repreve yarn. In addition to being environmentally responsible and stylish, Finch swimwear is also high-performing, as each item offers protection from the sun with a UPF rating of at least 50 and UVB sun protection, with no added chemicals.
Finch, launched in 2010, creates swimwear for the whole family that is fashionable, functional and earth-friendly. It was launched with the eco-conscious global traveler in mind.
Cambodia needs to diversify its export basket to make it more resilient to shocks. As of now, garment and textile production and a few other low value-added manufacturing dominate Cambodia’s exports. These are largely destined for the US and the European Union, exposing the economy to sector- and market-specific shocks.
The economy is constrained due to its dependence on garment exports. The way forward is to invest in educational reforms and specifically in people – that is ensuring that the skills are there in the first place so Cambodia can more quickly move up the value chain. There is an opportunity for Cambodia to first step into electronics exports and food processing sectors.
It’s also necessary to address gaps in hard infrastructure, such as high costs of electricity, if Cambodia wants to be in a good position to capture export manufacturing operations that are moving out of China due to rising costs of labor there.
A bold vision can leapfrog typical paths of development and quicken its industrial development. Should political tensions lower the impetus for reform to address institutional weaknesses, that would be credit negative. Cambodian exports to the US from January through June rose by 4.5 per cent compared to the same period in 2016.
Due to higher duty, longer lead-time, and lower price Bangladesh garment shipment to the US, the country’s single largest export destination, declined 7.47 per cent year-on-year to $5.2 billion in 2016-17 . Exporters also blame the appreciation of local currency against the American dollar, loser imports by US retailers and inefficient port operations in Bangladesh as other reasons behind the decline in garment exports.
Bangladeshi apparel exports face 15.62 per cent duty to the US markets, whereas Vietnam, Turkey, China and India are subjected to 8.38 per cent, 3.57 per cent, 3 per cent and 2.29 per cent duty respectively. Longer lead-time is another major problem for Bangladesh whereas competitors are sending their products to the US in shorter time.
Bangladesh imports raw materials such as cotton and then spins them locally before making the finished products. Till now Bangladesh needs to import some key raw materials like woven fabric, some accessories and other related things. Bureaucratic red tape causes many delays in government and customs related activities. Imports and exports operations are taking longer time now-a-days than before. Less management and worker efficiency at small and medium-sized factories make things very difficult for them to take orders to cater to retailers within such a short time.
As per Bangladesh Garment Manufacturers and Exporters Association (BGMEA), the country’s garment sector was hit by 15 per cent price cut in the last two years. Reduction of price of the US buyers is making things further difficult for Bangladeshi manufacturer. As European buyers give better price many manufacturers prefer EU buyer over US buyers.
Apparel Training & Design Centre (ATDC) and Groz-Beckert will launch a CSR initiative for vocational training at ATDC, Chandigarh. Groz-Beckert is known for technology leadership. The Germany-based company, is the world’s leading provider of industrial needles, precision components and tools as well as systems and services for the production and joining of textiles.
ATDC’s focus on CSR has been on designing and deploying sustainable programs, where the community takes ownership of the programs in a spirit of participatory development. There is sharper emphasis on capacity building of the community, which leads to a better impact of the programs for skill development for both men and women.
ATDC is India’s largest quality vocational training provider for the apparel industry. It has over 200 centers pan India which offers the entire range of apparel-related vocational courses. These include 65 ATDC vocational institutes and over 135 ATDC-SMART centers and skill camps offering state-of the- art vocational programs. The courses are focused on downstream apparel export and domestic manufacturing industries.
Apparel Training and Design Centre is probably the single largest training provider for any vocation in India and the single largest beneficiary or nodal agency for implementation of a government’s skill development scheme.
Archroma has entered into a partnership with Mehran University, Pakistan, to foster research in textiles. The partnership will explore research projects on basic indigenous textile dyes at Mehran towards smart methodologies in the processing of textile dyes. Mehran students will get access to hands-on training programs at Archroma’s center in the country.
Archroma is a global leader in color and specialty chemicals. The company’s non-halogenated portfolio includes select products that are assessed for compliance with global requirements for industrial and consumer safety.
Archroma’s portfolio of water-based, solvent-free polymers allows handle and surface adaptations, from soft to hard, elastic to rigid, hydrophilic to hydrophobic, heat sealable to highly durable, impermeable to breathable, with low or no formaldehyde content. These products allow for more sustainable, tailor-made coating solutions for applications such as technical textiles, automotive, nonwoven, personal protective equipment and sportswear.
Archroma's innovative next-gen fluorochemical products provide long-lasting and excellent repellency and release effects. They are easy to handle and non-sensitive regarding compatibility with other finishing chemicals. They allow covering the full spectrum of repellency and release needs in technical textile applications. Smartrepel Hydro keeps cotton, polyester and polyamide textiles dry. The unique technology offers exceptional, durable water repellency and is not based on fluorine. Smartrepel Hydro produces a soft hand feel and outstanding breathability – perfect for any weatherproof garment.
The global denim market is worth about $56 billion, says Statistic Brain. And the denim industry was expected to grow at a CAGR of over 6.5 per cent from 2015 to 2020, as per Technavio. The US accounts for $13.7 billion of that. Euromonitor International study says, jeans is growing not just in the US but also in China and Mexico. In the United States, jeans showed slight growth both in volume and current value terms in 2016, after declining over the previous two years. In China, jeans registered current value growth of 5 per cent in China in 2016, with sales approaching $11.8 billion. In Mexico, standard and premium denim saw the fastest growth in 2016, increasing 8 per cent in current value terms.
In the US, jeans made a slow comeback in 2016 as consumers began investing in denim again after the athleisure trend matured a little. Millennials are willing to spend on clothing and accessories, Euromonitor International remarks. They tend to be more aware of the latest fashion trends and are looking for clothing and accessories to personalise their fashion style and update their look. This generation supported growth in sales of economy and standard jeans.
Denim has continued to adapt to ever-changing trends with new innovations in fabrics and the adoption of new silhouettes not typically designed for denim. Fabric mills keep up with the demand for more performance functionality and comfort with the development of innovative fabric blends and weaves. Dio Kurazawa, Director-Denim, WGSN, believes the denim industry is on track for even the newest market trend — sportcore. Sportcore embraces a more streetstyle approach to athleisure.
Functional fabric
Kurazawa says denim makers were smart to increase denim’s comfort, as it helped them compete better against the athleisure influx. Stretch (denim) fabrics are relied upon from all three regions. The latest advancements in stretch technology allow for greater recovery than previously experienced. This is important for those consumers looking to achieve control and comfort without losing shape. Men’s skinny jean purchases have increased year-over-year (2016 to 2017 S/S) in the US, following its success in the EU.
Ripped denim with a relaxed cut also witnessed good sales in China in 2016, with rompers becoming a trending item there, as well. In Mexico, skinny jeans continue to be popular with women, and are increasingly so among men. Moreover, personalisation seems to be a growing trend in jeans, with brands offering many different types of washed out and ripped jeans, as well as stenciling and ripping.
Plus-sized brands are increasingly finding market in Mexico. The Euromonitor International cites Levi’s leading the way with its Shaping Plus line, targetted at curvy women and featuring renowned singer Carla Morrison as brand ambassador.
Denim diversity
Monitor™ Research highlights the diversity in denim is important in the Mexican market as consumers there wear jeans just over 4 days a week. This is significantly more than the 3 days a week consumers wear denim in the US and China. Mexican consumers also own the most denim garments (which includes jeans, jackets, shirts and skirts) at about 12 items. This is significantly more than denim ownership in the US (9) and China (7). Mexican consumers also own the most denim jeans on average at about 7 pairs, followed by the US at 7 and China at 3.
In the US, consumer interest lies with more authentic and comfortable-looking jeans, said Kurazawa. Consumers are no longer as interested in over-washed and processed jeans. The desire for real vintage jeans has begun to overshadow the factory-washed looks with their imitation distressing and whiskers. The EU market has seen a decline in the sale of these jeans as consumers opt for the true vintage experience. This trend will be followed in China too as they are often not far behind the North America market.
The United States may impose trade sanctions on China. It feels China’s intellectual property laws are unreasonable and discriminatory and harm American intellectual property, innovation and technology. The US could take its case to the World Trade Organization or settle it outside.
Under Section 301 of the US Trade Act 1974, the United States can impose trade sanctions on foreign countries that either violate trade agreements or engage in other unfair trade practices. A US trade sanction against China was long in the offing, consistent with Donald Trump’s election promises of cutting America’s ballooning trade deficit with China and punish the Asian nation for policies and unfair trade practices such as artificially keeping its currency depressed to boost exports. The United States estimates theft of intellectual property costs the American economy 600 billion dollars a year, and feels China is a major contributor, employing unfair trade practices and industrial policies such as forced technology transfer, which are damaging.
American companies say they are being unfairly forced to enter into joint ventures with Chinese companies if they want to do business in China and also, as part of these joint ventures, have to turn over their intellectual and other proprietary information.
For the first half of 2017, VF’s sales value stood at $4941.26 million. Improvements were seen in outdoor and action sports and the image wear segments. Both increased around three per cent. These were the only bright spots in the otherwise bleak picture. Jeanswear, once the mainstay of VF, was down a significant 6.83 per cent and seems to be sliding down with each passing quarter. Outdoor and action sports are now the mainstay of VF with about 64 per cent of sales.
Earnings declined seven per cent. Outdoor and action sports managed to keep their profitability. The major decline has been reported in jeanswear, which is 18 per cent. Jeanswear profits fell three times as fast as jeanswear revenues. Per unit profit of jeans has fallen to drastically low levels.
Sportswear profits also fell by seven per cent by the end of the half year in 2017. Based on the strength of the first half of 2017, and its expectations for the second half of the year, VF Corp is making growth-focused investments in its largest brands and platforms to generate additional value for shareholders both in the near and long term. VF’s second quarter revenue from continuing operations increased two per cent.
China’s health and wellness boom has driven sportswear growth to a point where it threatens to overtake luxury goods by 2020. In response, the active wear market is rapidly starting to diversify, making room for smaller brands, hoping to capture an increasingly discerning group of Chinese consumers.
This Chinese market is going to be one of the biggest, and people want to have options. The market is shifting in that consumers really want to express themselves and not have the same item as everyone else. For active wear shoppers, working out is less of an event and more of a lifestyle.
Gyms are becoming platforms for fashion and fitness experiences. The luxury and fitness markets seem to have merged. Gyms have members that include famous CEOs of big-name brands. The definition of luxury is changing for China’s rising middle class.
In the past, people bought luxury goods because they wanted to be seen carrying something that represented them and they needed the items to prove their status. But now Chinese consumers are more willing to invest in themselves, such as by traveling, going to cooking classes, or exercising. So it’s not about a bag to show that they have money but more about mental enrichment.
The Ministry of textiles has set up institutional mechanisms to synergize efforts related to ministries and state governments to enable the textile industry achieve its full potential of production, exports and employment. Textiles India 2017, held in Gandhinagar last month, hosted a series of roundtables (26) and international conferences where delegates deliberated on various opportunities for sectors growth.
Several key recommendations emerged from the deliberations. To carry forward the recommendations, the Ministry has set up institutional mechanisms involving relevant ministries, state governments and industry partners like a Steering Committee has been set up to oversee implementation of a Knowledge Network Management System (KNMS) to facilitate exchange of knowledge amongst academia, farming community and the industry on the productivity of natural fibres and diversification of their bye-products. The Committee under the chairmanship of additional secretary, Ministry of Textiles will have senior functionaries from the agriculture ministry and Farmers’ Welfare, Ministry of Skill Development and Entrepreneurship, Department of Industrial Policy and Promotion (DIPP), Department of Animal Husbandry, Dairying and Fisheries.
To enhance growth and competitiveness of MMF industry in India an Inter-Ministerial Synergy Group on Man-Made Fibre (MMF) comprising senior officers from Ministry of Petrochemicals etc has been set up under the chairmanship of secretary, textiles to formulate policy interventions. Also a task force on textiles India, chaired by secretary, textiles and consisting of representatives of DIPP, Consumer Affairs, Heavy Industry etc TC India, representatives of Partner/Focus states of Textiles India 2017, Export Promotion Councils, Textiles Associations and representatives from Consumer Associations has been set up to steer follow-up action on various outcomes of Textiles India 2017.
