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Dubai Fashion Week will take place March 10 to 15, 2023. Dubai Design District (d3), a member of TECOM Group PJSC, and the Arab Fashion Council (AFC) has launched the official Dubai Fashion Week.
This will be the definitive fashion fixture emerging from the region, featuring men’s, women’s, ready-to-wear and couture collections. The aim is to cement Dubai as a global creative capital and build on Dubai’s status as a global hub for business growth and investment.
The event will provide a platform for emerging and established designers to grow their brands. Not only will regional designers get to meet and do business with international buyers and distributors, it will also serve as a gateway for international talent and brands to continue expanding their global footprint through the regional market.
Presenting Dubai as a global creative hub, Dubai Fashion Week aims at boosting fashion exports and attracting world-class investment.Over the last few years, Dubai has become one of the most dynamic places for the arts and creative industries. From economic activity to tourism and creativity, Dubai has carved its own space among the world’s cosmopolitan capitals, and fashion is one industry boosting its status.
Dubai has arrived on the global fashion stage. Emerging and established creatives have shaped a distinct identity for the region that resonates far and wide. The region’s fashion industry is entering a new chapter as it becomes increasingly active contributors to the global fashion narrative.
Asia Fashion Collection (AFC) has named five designers that will be debuting their autumn/winter 2023 collections at the organisation’s annual New York Fashion Week event.
The selection comes as part of a global incubator project held by the Asia Fashion Collection, which looks to support emerging designers from Asia in the beginning of their careers.
The initiative rounds out with an event each autumn/winter season, where the selected finalists take to the runway during a dedicated show at New York Fashion Week. Those who are participating have been selected from Asia Fashion Collection’s Tokyo show and will now take part in the organisation’s tenth annual event which will be held in New York on February 13, 2023.
To select the finalists, a panel of expert judges was present, such as Kaname Murakami, editor-in-chief of WWD Japan, Fumiya Yoshinouchi, Fashionsnap editor and director, and Keishu Abe of Tokyo Base.For this season, the finalists include Japanese designers Saika Sekita of Saika and Jun Nakamura from Désir, both of which are graduates from the Vantan Design Institute in Tokyo.They will be showing alongside South Korea’s Lee Young Eun, Taiwanese brand Chiahung by LCF graduate ChiaHung Su, and Parsons graduate Asato Kitamura.
In 2022, Adidas revenues increased one per cent in currency-neutral terms. In reported terms, sales were up six per cent.
The company’s gross margin reached a level of 47.3 per cent. In 2021 it was 50.7 per cent. In 2022 operating margin was three per cent. The company expects 2023 to be a year of transition to set the base to again be a growing and profitable company. Full focus will be put on the consumer, retail partners and employees.
Adidas expects currency-neutral sales to decline at a high-single-digit rate in 2023. The company’s underlying operating profit is projected to be around the break-even level. While the company continues to review future options for the utilization of its Yeezy inventory, this guidance already accounts for the significant adverse impact from not selling the existing stock. This would lower revenues and operating profit this year.Should the company decide not to repurpose any of the existing Yeezy product going forward, this would result in the write-off of the existing Yeezy inventory and would lower the company’s operating profit this year.
In addition, Adidas expects one-off costs in 2023. These costs are part of a strategic review the company is currently conducting aimed at reigniting profitable growth as of 2024.
By adopting Coats Digital’s Fast React, VT Garment has improved productivity tremendously.
By implementing this solution, the company has eliminated unnecessary overtime staff hours and boosted staff morale by simplifying the often challenging and stressful task of planning. The solution has also optimised overall planning time, reduced time spent loading orders and significantly reduced time people spent recording plan variations.
Prior to implementing FastReact, VT Garment found that the lack of automation and real-time visibility in the production planning process not only meant there was limited information sharing between different departments, but also that manually produced capacity plans based on unreliable historical data weretime consuming and cumbersome to produce and not accurate enough to make informed production decisions from.
VT Garment, based in Thailand, makes outerwear, sportswear and protective equipment such as ski jackets and pants, board shorts, polyester padded jackets, woven jackets and pants, knitted jackets and bulletproof armour-plated materials.
Coats Digital is the leading digital transformation partner for the fashion supply chain, powering sustainable processes and high value insights through connected technologies. Used in over 3,000 factories globally, its apparel, footwear and textile software and SaaS solutions improve agility, speed to market, efficiency, transparency and sustainability.
FastReact is an apparel production planning software solution.
Harper and Neyer is using Naiz Fit sizing solutions to reduce returns related to size and fit issues.
Harper and Neyer, based in Spain, is a men’s wear brand. Naiz Fit, a MySize product, is a provider of AI-driven measurement solutions.
Naiz Fit has emerged as the leading SaaS-based sizing solution for European fashion brands and retailers. MySize has deep marketing and service reach into the EU market, which is further fueling product adoption and accelerating growth for the MySize portfolio of sizing solutions.
Naiz Fit is being utilized across Harper and Neyer's global e-commerce sites. From fitted suits to preppy casual wear, with Naiz Fit, Harper and Neyer customers are ensured a perfect fit. With a strong European presence through 21 stores in Spain, France, Italy, Andorra, and Portugal, as well as Mexico, Harper and Neyer is a brand with a clear target for active men who love fashion and are in need of a stylish, elegant and casual outfit. Its customers have a distinct taste in style that Harper and Neyer's masculine collection embodies.
Since a proper fit is essential to style and comfort the Naiz Fit sizing tool seamlessly integrates into Harper and Neyer’s e-commerce sites to lead customers to the best size selection for their body and shape.
The predicted economic recession with a trade slowdown this year in the US and European countries has hit major garment export markets like Cambodia. And it is expected to have a far-reaching effect both on the country’s apparel industry and living standards of lower wage earners. Having always been dependent on garment exports as one of the largest foreign exchange earner accounting for almost 60 per cent of Cambodia’s total export value, the post-pandemic recession has hit the country hard.
Export figures expected fall further this year
Due to unfavourable global demand globally especially in the EU markets, the garment segment in Cambodia is expected to slowdown and clock in a growth of just 5.5 per cent this year from 14.5 per cent in 2022. “In its latest Global Economic Prospects report released in January 2023, the World Bank has cut its growth forecast for the US to 0.5 per cent and the EU to 0 per cent for 2023. The slow growth in these two important export markets for garments will significantly affect performance this year,” opined Jayant Menon, Senior Fellow with ISEAS-Yusof Ishak Institute in Singapore in an interview with Khmer Times.
After a fall of 6.1 per cent during pandemic times, the Cambodian garment industry was hopeful as it picked up with an identical 10.8 per cent growth in 2021 and 2022 as the world came back to normal. However, garment exports are expected to fall further to 5.5 per cent this year. Garment, footwear and travel goods segment are the biggest forex earning segment in Cambodia with around 1,100 factories and branches that boosts per capita income by giving employment to around 750,000 workers, mainly women.
US export keeps hope alive
However, not all industry analysts feel the situation is bad as they foresee Cambodian exports continuing to grow. As per World Bank’s recent data, the country’s goods exports grew at 28 per cent year on year (YoY) during January-August 2022. Exports of Cambodian garments to the EU will probably have a small impact, depending if the energy crisis in the EU is handled to a level where Cambodia can export, albeit at a lower level. Low growth across Europe in 2023 is a result of the spill-over effects from the Ukraine war along with strong downward revisions for economies mostly dependent on Russian gas.
The Euro economy which posted a growth of 5.2 per cent in 2021 and 3.1 per cent in 2022, is currently expected to grow only at 0.5 per cent in 2023 although the situation can be better soon, predicts the World Economic Outlook report of IMF.
Just last year, Cambodia exported garments, footwear, and travel goods worth over $9 billion. However, the EU decided in 2020, to withdraw tariff preferences under EBA. Yet, exports to the EU have been increasing continuously ever since, even though Cambodia does not have EBA and GSP.
The US apparel market remains a major destination for Cambodian exporters with many US fashion companies now placing more varied and different orders. The US was Cambodia’s largest export market accounting for 45.6 per cent of total exports last year. As more and more US fashion companies are focussing on expanding and diversifying their garment sourcing base after the supply chain disruption post pandemic, Cambodian garment industry remains hopeful they may be one of the beneficiaries.
Fashion’s eastern-most centre is the island nation of Japan. Seeped in a rich legacy, adherence to tradition, a fearless approach in the new world order, armed with innovation, Japan’s attitude is also expressed through its unique, bold fusion of design and colour palettes in fashion. More often than not, the West’s collections are often influenced by Japanese fashion trends. In light of the passing away of two top Japanese fashion icons Issey Miyake and Hanae Mori in 2022, the industry faced an irreplaceable loss.
So what impact did these events have on Japanese fashion? According to Vogue, 2023 will continue paying homage to these two national fashion heroes through vintage kimonos and the Issey Miyake pleats, distressed patchwork, popcorn tops and a casual and vibrant interpretation of the Mori suits. Nigo. The popular Tokyo-based designer known for his urban street-wear is now on the rise as he presented his first collection as the artistic director of Kenzo, an LMVH brand, in Paris last month.
As a country that ranks 11th in the world order of nations that have taken the cause of sustainability seriously, sustainable fashion is being spearheaded by local designers through use of traditional methods combined with innovative production technologies
Motta Nai or What A Waste
Originating from a Buddhist belief that every object has intrinsic value and should be utilized for its full life cycle, the credo has been threaded throughout national culture for centuries. “Mottainai and handmade culture is everywhere in Japan," points out Kaoru Imajo, Director, Japan Fashion Week Organization. A number of Japanese fashion labels are channeling these traditional ideas in the name of sustainability, embracing centuries-old garment production techniques and pioneering new technology to reduce waste and lessen environmental harm throughout the production process.
In direct contrast to Japan’s efforts towards sustainable fashion, the irony is that Chinese fast-fashion brand Shein chose Tokyo for its first brick and mortar store in the world. The outlet opened on November 13, 2022, in the busy fashion precinct of Harajuku and the collection is designed with young Japanese consumers in mind. Apart from fulfilling their D2C commitment in Japan, Shein is now establishing its physical presence. The store is being used as a physical showcase as no direct purchase is possible – customers scan the QR code at the store and have their product shipped home as Shein continues its digital first philosophy. The industry gossip is that Shein might issue IPOs in the US and Japan in 2024. Shein has refused to comment on this matter though.
Itochu plays to its strengths
Recent news has it that Itochu, the Japanese conglomerate is bringing back popular brands Edie Bauer and Forever 21 to Japan this year. Itochu also acquired master license rights to many other brands, including Eddie Bauer, L.L. Bean and Forever 21 in 2022. In April 2022, the company acquired majority stake in Dome Corp, which represents Under Armour in Japan, and formed a joint management system with the US sports apparel company. Itochu also obtained the marketing rights and license rights to Reebok in May. In 2019, the company tookover Descente and improved its management. Itochu has understood the growth of the athleisure and sportswear market since the onset of the pandemic and is actively pursuing establishing its acquired licenses and pitting itself directly against Nike, Puma and ASICS in 2023.
India looking to emerge a strong sourcing destination
Tapping into the Japanese market India’s Apparel Export Promotion Council (AEPC) is organising the first edition of Upnext India 2023, starting with a Reverse Buyer Seller Meet with Japan. Being held in Gurugram, India on February 10 and 11, more than 50 prominent Japanese brands including Sumitomo, Toyoshima, Marubeni, Mitsubishi, United Arrows and MYK Fashion will be attending to source readymade garments from here. Over 75 Indian RMG manufacturers have confirmed their participation. This initiative is supported by the Commerce Department under the Market Access Initiative Scheme.
And as says Naren Goenka, Chairman, AEPC, in light of the fact that Japan is the fourth largest garment importer in the world, with its apparel imports being stable even during pandemic and Indian apparel having duty-free access under the Indo-Japan trade agreement as against 9 per cent for Turkey and 9.5 per cent for China, it makes business sense for Indian readymade garment manufacturers and exporters to participate in this opportunity. With total garment imports of Japan of $23 billion, against India's exports of $0.22 billion, a strong Indian garment industry with its unique offerings has a huge scope for Japanese trading companies to source from India, it added. Goenka points out Japanese companies have two competitive advantages as apparel sourcing base -- sourcing cost and flexibility and agility.
The International Textile Manufacturers Federation (ITMF), as the international forum of global textile industry, is now in a state of flux as the business situation has changed in a post-pandemic world. The just released 18th ITMF Global Textile Industry Survey highlights the ongoing gloomy economic situation but expectations are high for the things to improve this year.
When ITMF tarted the Global Textile Industry Survey in 2021 after Covid abated, the business environment was at an all-time low. High inflation and rising interest rates around the world have been the current drivers of global economy but in 2023, the main problem of the textile supply chain seems to be high inventories at the brand and retail levels.
Unreliable demand in a post-Covid economy
With pent-up frustration among people stuck at home during the two Covid years, there was a surge in demand across the board for consumer durables and apparel once travel restrictions were lifted and economies opened up. Global and domestic brands across countries increased inventories to meet the sudden surge in demand. However, this was short-lived as inflation rose as Russia-Ukraine war pushed up energy prices, consumers pulled up their purse strings, demand slowed down and stocks piled up.
ITMF interviewed many respondents for this survey who confirmed global order intake has steadily decreased since November 2021 once the initial flush of post-Covid demand had waned. In January 2023, it was a negative indicator in all geographical regions around the world except North & Central America and fibre manufactures who saw increased orders for the first time since summer 2022.
The previously high global order backlogs had also been slow and steady in their decrease from 3.1 months in March 2022 to 2.4 months in January 2023. This could be attributed to most brands and retailers hesitating to place orders and add to their inventory with uncertain demand. Added to this were the disruptions in earlier supply chain during Covid years which helped in lessening order backlogs by improving global trade flows. This eventually led to a slight increase in global capacity utilization rate which was mainly driven by garment fibre producers and spinners.
China opening borders boosts demand
With members comprising companies and associations from the textile and allied industries, ITMF’s expectations in the last six months have soared with everyone being globally positive about the upcoming business economy in June 2023. The organization says, textile manufacturers can expect a better situation with countries being in a much better energy situation, prices for gas and other products in Europe and Asia going back to levels seen before the Ukraine war. Secondly and most importantly, the end of the Zero-Covid-policy in China with borders opening up is strengthening demand. China, as one of the largest importers of consumer goods, especially luxury apparels and the return of tourism has given an adrenaline rush to a sown-in-the-dump economy.
The Survey infuses optimism the global economy will see better growth than expected in 2023 which will benefit the textile fraternity and give a fillip to the apparel industry in general.
The Confederation of British Industry (CBI) has launched its first-ever business delegation to explore free trade agreement opportunities in India.
The delegation is focusing on key growth sectors where Indian and UK businesses can develop profitable partnerships such as innovation and sustainability.
The visit also aims to share knowledge on how to scale up unicorns to addressing ways to increase trade in green goods and services between the two countries and contribute to net zero ambitions.
This visit comes in the backdrop of the UK’s negotiating the seventh round of the free trade agreement with India. The potential FTA could boost trade with India by several billion pounds a year by 2035 and increase wages across the UK. With a free trade deal between the UK and India soon to be signed—and agreements such as the UK-India Young Professionals Mobility scheme already in place—UK businesses want to explore how to grasp the huge opportunities that India affords.
The CBI’s first ever delegation to India will put the promise of an FTA into practice—helping businesses develop links with key stakeholders and supporting UK firms to go for growth around the world. UK firms feel since India is on track to become the third largest economy, with a quarter of a billion middle class consumers by 2050, the free trade deal could unlock huge benefits for them.
For the fourth quarter orders for Italian textile machinery fell by 35 per cent compared to the same period in the previous year, says ACIMIT.
The drop from orders abroad was 17 percent while orders collected in Italy were 28 per cent lower than the figures drawn up in 2021.
The ongoing war between Russia and Ukraine, with its related consequences on daily business and trade, and a macroeconomic framework in which uncertainty prevails, have further negatively affected the orders intake. However declining energy prices and a slight fall in inflationare signs of improvement in the business of companies in the sector.
This proves that Italian companies have been capable of responding quickly to new market conditions, as has often happened in other historical periods. However, difficulties remain particularly in the areas of digitalization and sustainability. Creativity, sustainable technology, reliability and quality are the characteristics which have made Italy a global leader in the manufacturing of textile machinery.
Exports amount to more than 86 per cent of total sales. And 30 per cent of Italy’s revenue from the sale of textile machinery derives from the production of technical and innovative textiles. Manufacturers are looking forward to the textile machinery trade show Itma which will be held in Italy, June 8 to 14, 2023.
