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The Chief Adviser’s press wing dismissed as ‘misleading’ a recent India.com report suggesting global clothing brands are prioritizing Indian manufacturers over Bangladeshi ones.
In a statement on its verified Facebook page, the CA press wing highlighted Bangladesh's robust export performance. November 2024 exports totaled $4.12 billion, marking a 15.63 per cent increase from the previous month. Apparel exports played a key role, contributing $3.06 billiona 16.25 per cent rise from October's $2.84 billion.
For the July-November 2024 period, total exports reached $16.11 billion, achieving a 12.34 per cent year-on-year growth compared to $14.34 billion in 2023.
The statement reaffirmed Bangladesh’s position as a competitive player in global manufacturing, emphasizing that the country continues to meet the rising demands of international clothing brands efficiently.
The press wing urged caution against unfounded reports that could misrepresent Bangladesh's growing economic resilience.
Filling one of the most prestigious roles in fashion after a six-month search, the House of Chanel has named Matthieu Blazy as its new Creative Director. To assume the position in 2025, Blazy will oversee luxury ready-to-wear, haute couture, and accessories, becoming only the third designer to succeed Coco Chanel since her passing in 1971.
Blazy joins Chanel following his tenure at Bottega Veneta, where he earned widespread acclaim for his innovative designs since joining the house in 2020. His appointment at Chanel is seen as a pivotal moment for the brand. His official title at the brand will be Artistic Director of Fashion Activities.
Having began his career in menswear, Blazy transitioned to women’s ready-to-wear in 2011. He joined the fashion group Maison Margiela to oversee its experimental ‘Artisanal’ couture collection. After the departure of Demna Gvasalia from Margiela in 2012, Blazy took over both the main and couture lines, gaining recognition for his avant-garde designs. Notably, his creations caught the eye of rapper Kanye West, who commissioned Blazy to design his wardrobe for the ‘Yeezus Tour.’
In 2014, Blazy moved to Celine as a Senior Designer under Phoebe Philo, contributing to the house’s critically acclaimed collections. Two years later, he joined Raf Simons and Pieter Mulier at Calvin Klein in New York, forming a dynamic creative team that stayed together for three years.
After Calvin Klein, Blazy collaborated with artist Sterling Ruby on a fashion collection presented at the Pitti Uomo trade fair in Florence. He returned to Europe soon after and joined Bottega Veneta, where his innovative work solidified his reputation as one of the most talented designers in the industry.
Garment manufacturers in Indore aim to grow by 15 per cent in the coming year as benefitting from political instability in Bangladesh, they have been witnessing a rise in orders from both domestic and international markets. However, the city's current infrastructure cannot fully accommodate this increased demand, caution industry leaders
Rahul Mehta, Chief Mentor, Clothing Manufacturers Association of India (CMAI), points out, while the Bangladesh crisis has led to the shifting of some garment orders to India, the local industry’s production capacity remains limited. The garment industry in Bangladesh currently house 2,000 machines while the Indian garment industry houses around 500 machines, adds.
Despite these limitations, Indian fabric mills and garment manufacturers have benefitted from the disruption in Bangladesh Supply Chain, affirms Akhilesh Rathi, Joint President, Federation of MP Chamber of Commerce and Industries. Despite current poltical challenges, both these countries will continue to engage in substantial trade, he adds.
To boost the export market in Indore, Readymade Textile Dealers Association has signed an MoU with CMAI to focus on skill enhancement and improving quality output for both domestic and international markets.
The dependency of Bangladesh’s readymade garment (RMG) sector on buying houses has significantly declined over the last decade, thanks to advancements in product development, marketing strategies, and direct buyer communications, according to a Bangladesh Institute of Development Studies (BIDS) report.
The study reveals that exports through buying houses dropped to 38 per cent in 2023 from 51 per cent in 2014, while direct exports rose to 52 per cent from 38 per cent during the same period. Conducted on 43 firms producing eight key RMG products, the study highlights the sector's enhanced technical capabilities and productivity.
The total export value of these surveyed firms increased from $645 million in 2014 to $1.03 billion in 2023. Additionally, the average number of buyers per firm grew from 11 to 17 over the decade. Investments in research and development, certifications, and the adoption of advanced technology have driven this transformation.
Abdullah HilRakib, former vice-president of the BGMEA, attributed the decline in buying house reliance to factories establishing overseas offices and brands setting up local offices in Dhaka. However, smaller buyers without local offices still rely on intermediaries.
Meanwhile, KaziIftekhar Hossain, a former leader of the Bangladesh Garment Buying House Association, claimed buying houses remain integral, contributing $8 billion annually. He emphasized that smaller factories still depend on buying houses for basic support, including design and quality assurance services.
Stakeholders in the textile and garments sector are advocating for the expansion of the Production Linked Incentive (PLI) scheme to the entire sector in the upcoming Union Budget 2025. Currently, limited to synthetic fiber, the scheme is likely to incentivise investments, foster joint ventures between foreign companies and local production units and enhance competition while creating job opportunities. In recent weeks, numerous proposals were submitted to the government for consideration.
Highlighting the challenges faced by exporters in securing bank loans to fulfill order requirements, Rajiv Bansal, National Vice-President, Indian Industries Association (IIA), emphasised on the need to reinstate the recently concluded interest subvention scheme, which provides relief on loan interest rates until September 30. Bansal called for an extension of the scheme for a longer duration and reduction in interest rate to 5 per cent.
He also urged for a revival of the Technology Upgradation Fund Scheme, which was instrumental in subsidising new equipment purchases in earlier administrations but has since been discontinued. Reinstating this program could significantly aid technological advancements in the sector, he said.
Lalit Thukral, Chairman, Noida Apparel Export Cluster, hailed the government’s support for local businesses through incentives tied to increased production and sales. The government is actively reviewing proposals to enhance the sector’s growth and global competitiveness, he noted.
The implementation of these measures could provide a much-needed boost to the garments and textile industry, enabling it to thrive and contribute significantly to the nation’s economy, he stated.
Italian luxury fashion house, Marni has launched a pop-up store at Selfridges in London. Located on the department store’s first-floor atrium, the pop-up launched with the label’s SS25 Vol. 1 collection offering an idiosyncratic take on wardrobe classics’
The SS25 Vol. 1 collection offers tailored pieces featuring florals, checks and strips. These garment pieces reflect the store’s eclectic spirit as it offers a vibrant glossary of colors, shapes and textures. It assortment includes high-end and premium menswear collection.
To mark the pop-up’s launch November 11, 2024, Marni hosted mending workshops offering brands a unique opportunity to personalise garments and accessories, including a special leather charm developed exclusively for the occasion. The pop-up will run until February 2, 2025.
Kering and BottegaVeneta are pleased to announce the appointment of Louise Trotter as the new Creative Director of the House, effective January 2025. Known for her meticulous craftsmanship and ability to draw inspiration from real life, Trotter joins BottegaVeneta following her tenure as Creative Director of Carven.
Trotter’s appointment marks the beginning of an exciting new chapter for the brand. CEO Leo Rongone praised her aesthetic, stating: “Louise seamlessly combines exquisite design with sublime craft, and her cultural advocacy aligns beautifully with our vision. Her sophisticated perspective will honor Bottega Veneta’s heritage while ensuring its modern relevance.”
Francesca Bellettini, Kering’s Deputy CEO for Brand Development, added: “Louise’s fresh perspective and wealth of experience make her the perfect creative talent to carry forward the bold creativity and excellence that define BottegaVeneta. We are deeply grateful to Matthieu Blazy for his visionary contributions over the past three years.”
Trotter said: “I am honored to join BottegaVeneta. Its storied legacy of artistry and innovation inspires me, and I am excited to shape its future while celebrating its timeless vision.”
This appointment signals a bold step forward for BottegaVeneta as it continues to redefine modern luxury while staying rooted in its storied heritage.
Pitti Immagine has announced a new partnership with the Japan Fashion Week Organization (JFW) to enhance promotional efforts for PittiUomo, aimed at strengthening its presence in the Japanese fashion scene. This collaboration focuses on increasing exposure for Italian menswear and lifestyle brands in Japan while showcasing Japanese fashion innovations globally.
Raffaello Napoleone, CEO of Pitti Immagine, emphasized the importance of Japan's fashion system to Italian fashion, noting its central role in the Pitti fairs. He highlighted the need for increased engagement, particularly in the face of recent global economic and political challenges. The partnership aims to promote coordinated actions targeting Japanese manufacturers, specialty stores, department stores, young designers, and emerging brands.
Hiroshi Komoda, Executive Director of JFW, expressed his enthusiasm about the partnership, reflecting on the successful collaborations between the two organizations over the years. Since 2012, PittiImmagine Uomo has introduced over 50 Japanese brands to the European market, including names like Versus Tokyo, sulvam, and BED jw FORD. Komoda believes the new partnership will foster greater collaboration, benefiting both Italian and Japanese fashion industries by increasing visibility among buyers, exhibitors, and media.
The collaboration kicks off with a Pitti press tour in Asia, marking the beginning of an exciting new chapter for both fashion ecosystems.
Source Fashion, Europe’s leading responsible sourcing show, is set to inspire the fashion industry with a powerful lineup of keynote speakers at its upcoming event in London. From February 18th to 20th, industry visionaries will delve into critical themes shaping the future of fashion.
On February 19th, a full day of thought-provoking sessions will be headlined by All Saints Founder Stuart Trevor, award-winning social entrepreneur Safia Minney MBE, and Andrew Xeni, Founder of Nobody’s Child.
Key sessions at Source Fashion will explore critical themes shaping the future of fashion. Andrew Xeni will discuss how brands can enhance transparency in supply chain practices and empower consumers.
Stuart Trevor will showcase his company's innovative approach to circular fashion, transforming pre-owned clothes into desirable pieces.
Safia Minney will delve into strategies for adopting circular and regenerative models, scaling these practices, and fostering collaborative supply chain solutions.
Additional sessions will feature speakers from John Lewis, Vivo Footwear, PepsiCo, and WRAP, with a full program announcement forthcoming. Source Fashion 2025 promises to be a pivotal platform for shaping a more sustainable fashion future.
German fashion group Hugo Boss has set up an independent company called ‘Eightyards’ to recycle and reuse Hugo Boss's excess production materials. The concept underpinning the group’s new project is strategically aligned with the brand’s broader commitment. Based in Metzingen, Germany, the brand aims to make its production process as environmentally and resource-friendly as possible.
To commence operations in January 2025, Eightyards is led by Marketa Miltenberger, and Placido Klitzke, Joint Directors. The company aims to establish itself as a major facilitator for the recycling and reuse of excess production materials, also in sectors other than fashion.
Owner of the brands, Boss and Hugo, the Hugo Boss group commercialises its brands’ collections in 131 countries via approximately 7,800 multi-brand retailers, and operates e-shops in 73 countries. The group has approximately 19,000 employees worldwide, and generated revenues of €4.2 billion in fiscal 2023.
For the current fiscal year, Hugo Boss has lowered its revenue forecasts to between €4.20 billion and €4.35 billion, in the face of weakening global demand, particularly in China and the UK. In Q3, the company’s sales at constant exchange rates increased to €1.029 billion from €1.027 billion in the same period last year, and well above the market expectation of €1.023 billion. In 2025, the group aims to generate revenues worth €5 billion in 2025.
