Held in Milan from Jan 30 - Feb 1, 2024,  Italian textile trade show, Milano Unica closed its 38th edition recording an 11 per cent increase in visitors and international buyers.

A total of 5,886 companies visited the event as against 5,304 in the corresponding 2023 edition, including 1,903 companies from abroad  and 3,983 Italian companies  attending.

Exhibiting companies increased by 7 per cent to 508 with them showcasing  high-end fabric and accessories collections for Spring/Summer 2025, dedicated to men's, women's and children's creations, in addition to 101 special areas, for a total of 609 exhibitors.

Alessandro Barberis Canonico, President, Milano Unica, says, the exhibition recorded an extraordinary increase in visitors from China accompanied by a 57 per cent growth in visitors from Japan and 15 per cent growth in visitors from Korea. There was also a positively homogeneous trend from Europe with France, Poland, Great Britain, and Germany. The North American presence was satisfactory, with visitors from Canada increasing by 48 per cent, while The US presence stable, with as many as 151 companies visiting, adds is Canonico.

Among the initiatives promoted by Milano Unica was the Back to School event that addressed the testimony of Sabato De Sarno, Creative Director, Gucci.

Indian hosiery giant Lux Industries has inaugurated its new manufacturing and warehousing facility at the Jagadishpur Hosiery Park in Kolkata. 

Spanning an impressive 4.5 lakh sq ft, the park houses over 5 acres dedicated to cutting-edge production, alongside extensive warehousing, storage, and finishing spaces.

This strategic move is poised to address the company's rising demand while simultaneously reducing reliance on third-party production. The park boasts a groundbreaking layout that optimizes efficiency, streamlines operations, and embodies Lux Industries' commitment to progressive manufacturing practices.

The park's 5-acre manufacturing space will house advanced equipment and machinery, ensuring top-quality production at scale.

The expansive warehousing and storage facilities will enable efficient inventory management and timely product distribution. The park’s dedicated finishing area will guarantee meticulous attention to detail and consistent product quality.

The park is expected to create substantial employment opportunities, both directly within Lux Industries and indirectly through ancillary services. Its design and operations will reflect Lux Industries' commitment to sustainability.

India's cotton consumption is expected to remain flat at 311 lakh bales for the 2023-24 season, according to the Cotton Association of India (CAI). However, CAI's total cotton supply projections remain at 345 lakh bales, suggesting a potential supply-demand imbalance.

Globally, despite a historic high in Brazil's cotton production, sluggish demand due to economic headwinds has led to oversupply and lower prices. However, a positive sign for India is the reported decline in pink bollworm infestation, a major cotton pest.

Technically, the cotton market is seeing renewed buying interest, with open interest rising 7.8 per cent. Cottoncandy has support at 57,240, with a potential test of 56,630 if breached. Resistance is expected at 58,220, a break above which could see prices reach 58,590.

In summary, cotton prices are on the rise due to a combination of supply and demand factors. While India's consumption is expected to remain stable, global oversupply concerns persist. However, positive developments like reduced pest infestation offer hope for the Indian cotton industry.

Despite the overall positive performance, turnover of the Textiles business of Century Textiles and Industries (CTIL) declined by 16 per cent in Q3 of current fiscal due to subdued global demand. 

The company’s restructuring efforts impacted production levels, further adding to the pressure. However, the company remains optimistic about a moderate sales growth in Q4, fueled by an expected revival in global demand and a shift towards sustainable practices in the industry.

CTIL reported a remarkable turnaround in its fiscal third quarter, with profit soaring 855.3 per cent to Rs 83.30 crore compared to last year. This impressive performance was driven by the company's Pulp & Paper and Real Estate businesses.

The Pulp & Paper business achieved a 24 per cent increase in sales volume and a 10 per cent increase in sales turnover. This success can be attributed to various strategic initiatives, leading to higher production levels and capacity utilisation. While challenges remain in the export market, the company expects stabilisation in writing and printing paper demand and a revival in tissue paper demand.

The Real Estate business also enjoyed a strong quarter, marking its maiden handover process with the Birla Alokya project in Bengaluru. Additionally, occupancy certificates were received for select phases in other projects, paving the way for further handovers in Q4. The launch of a new phase in Mumbai is also anticipated in the coming quarter.