Victoria’s Secret’s revamped fashion show to focus on inclusivity and grandeur
Lingerie brand, Victoria’s Secret will revive its fashion show with a renewed focus on inclusivity and grandeur, As per Janie Scaffer, Chief Design and Creative Officer and Sarah Sylester, Executive Vice President-Market, celebrating the brand’s transformation, the revamped show will resonate with its current brand identity.
Held at Pier 94 in New York, the last Victoria’s Secret show in 2018 featured the iconic Victoria’s Secret Angels and performances by stars like Shawn Mendes and Halsey. However, the brand faced backlash due to allegations of a ‘culture of misogyny, bullying, and harassment; and criticism for its lack of diversity. Ed Razek, Chief Marketing Officer, quit in 2019 following controversy over his refusal to hire plus-size or transgender models.
Since then, Victoria’s Secret has become an independent public company and made strides toward inclusivity, as highlighted by the 2023 documentary ‘The Victoria’s Secret World Tour,; which showcased diverse global creatives.
Aiming for inclusivity, Sylvester emphasises on the company’s commitment to diversity, equity, and inclusion (DEI). In its upcoming edition, the show will represent all types of women on the runway, she adds.
Participants confirmed to participate in the show include Taylor Hill, American Model and Former Victoria’s Secret Angel and Mayowa Nicholas, Nigerian Model who will make her debut.
Symbolising strength and fragility, the iconic wings will return to the show. This year’s show will also feature a record number of models and a vast holiday collection, indicates Schaffer.
One of the highlights of the show will be the new VS Sport collection to be reintroduced with technical fabrics and high-fashion aesthetics.
The Featherweight Max bra will also be showcased alongside a new Featherweight front-close bra and other new products debuting this fall, accompanied by a significant marketing campaign.
Implement measures to reduce cost of doing business, urges PYMA
The Pakistan Yarn Merchants Association (PYMA) has urged the federal government to implement immediate measures to reduce the cost of doing business in the domestic industry.
Shams Qaiser, Chairman, PYMA, warns, failure on the part of the government to meet these demands may result in the gradual shutting down of the industry.
The increase in power tariffs by the government has made it impossible for the industry to continue operating, he alleges.
Further, high production costs y have led to the closure of approximately 29 per cent of spinning mills and 20 per cent of knitting mills across the country, adds Qaiser. Additionally, out of 880,000 water jet machines, 32 per cent have ceased operations, he notes.
The closure of these mills will not only increase unemployment rates but also adversely affect the country’s export targets for the fiscal year, emphasises Qaiser.
He reveals, in the past few months, around 150,000 textile industry workers have lost their jobs.
To support the domestic industry, the government needs to reduce electricity rates, Qaiser urges.
Sohail Nisar, Senior Chairman, also highlights, the looming energy crisis as a significant threat to the industrial sector. Despite a demand for 22,000 MW, the nation is currently paying for 45,000 MW, with industries and the general public bearing the cost of underutilised capacity, he adds.
Skyrocketing capacity charges have severely impacted many industries, particularly in Punjab, where half of the region's spinning mills have shut down over the past two years.
Nisar also urges the government to renegotiate agreements with Independent Power Producers (IPPs) to alleviate the crisis. The future of Pakistan’s economy depends on the government's actions, he adds.
EU’s share in global used clothing exports to grow: Report
The share of European Union in global used clothing exports is estimated to continue growing in the next few years as collection rates continue to rise.
Currently, EU accounts for over a third of global used clothing exports, as per a report by the United Nations Economic Commission for Europe (UNECE) and the United Nations Economic Commission for Latin America and the Caribbean (ECLAC). Exports of used clothing from the region has tripled from 550,000 tons to 1.7 million tons over the past few decades, adds the report. .
However, despite this, the region is yet to adopt a design-led circular economy approach to clothing. Though it introduced key policies such as the EU Circular Economy Action Plan (CEAP) adopted in 2020, the EU Strategy for Sustainable and Circular Textiles in 2022, and the EU Ecodesign for Sustainable Products Regulation in 2023, these are yet to yield significant large-scale solutions to textile waste issues, shows the report.
Tatiana Molcean, Executive Secretary, UNECE, says, to foster circularity, traceability and sustainability in the industry. exporters and importers need to introduce new policies.
Many countries in Latin America including Argentina, Brazil, Colombia, Mexico, and Peru, have already banned clothing imports to protect prevent clothing dumps. Conversely, Chile imposes no tariffs or quantity restrictions on imports, requiring only sanitization through fumigation. This policy has made Chile one of the top 10 importers of used clothes globally and the leading importer in Latin America.
However, three-fourths of these imports are non-reusable, with 30,000 tons now polluting 30 hectare of the Atacama Desert, posing health risks to local communities.
While the trade in second-hand garments provides employment and income for national and migrant populations in Chile, the environmental and social issues must be addressed. The report recommends, EU and Chile need to jointly create robust regulatory frameworks to mitigate the impact of second-hand textile trade.
Jose Manuel Salazar-Xirinachs, Executive Secretary, UNECLAC proposes, the two companies should pioneer innovative approaches to set new global standards for the trade of used textiles with a focus on sustainability and social responsibility.
Additionally, the report recommends, international trade agreements, such as the 2023 Interim Trade Agreement between the EU and Chile, should be amended.
This agreement could serve as a model for other bilateral trade agreements between the EU and other countries to enhance cooperation and sustainability in the used textile trade, the report adds.
Heatwave Hues: Summer's scorching temps are reshaping denim
Summer's sizzling temperatures are prompting a shift in denim fashion, with a focus on lightweight fabrics, looser fits, and moisture-wicking technology. Consumers are demanding comfort and coolness, and designers are responding with innovative approaches to the classic material.
Lighter fabrics for breathability
Sweltering in heavy denim during the summer is passe. Brands are prioritizing lightweight fabrics, like chambray and seersucker, that allow for better air circulation. Cotton remains a go-to fiber for its natural breathability, but advancements like Tencel and linen blends offer even more comfort.
Weave construction for comfort
The way denim is woven can significantly impact how it feels on the skin. Seersucker's puckered texture creates space between the fabric and the wearer, while looser weaves allow for more airflow.
Focus on moisture-management
Technology is playing a key role in keeping summer denim cool. Brands are incorporating features like Coolmax fibers and Levi's Performance Cool to wick away moisture and keep wearers dry.
Shifting styles for the season
Skinny jeans are taking a backseat to looser fits like wide-leg, relaxed straight, and barrel leg silhouettes. Consumers are opting for styles that offer more airflow and comfort in hot weather. The cropped denim trend is also gaining traction, with cuts ranging from skinnies to wide-legs. For shorts, the trend leans towards longer inseams for women and a resurgence of jorts (jean shorts) for both men and women.
Color with a twist
While classic blue denim remains a staple, washes are getting a refresh. Men's denim is showcasing a more worn-in look, while women's is venturing into colors beyond blue. Neutrals like grey are gaining popularity, reflecting a minimalist aesthetic.
Consumer awareness
Consumers are increasingly aware of the technical aspects of denim and are seeking out features that address their comfort needs in hot weather. The rise of social media trends like cuffed jeans and DIY distressing reflects this growing interest in detail and customization.
The forecast for summer denim points towards continued innovation in fabrics, fits, and technology. As heatwaves become more frequent, expect to see even more performance-driven features integrated into denim design. Designers will likely cater to consumer demand for comfort and style, offering a wider range of lightweight, loose-fitting, and moisture-wicking denim options.
House of Maruti to plans operations in the Gulf
A name synonymous with excellence in the textile industry, House of Maruti plans to expand its operations in Dubai and the broader Gulf region. Renowned for its exceptional quality and innovative designs, this government-recognised export house aims to collaborate with leading fashion players in the region to deliver the latest in fashion to garment industries.
Founded in Surat, India’s textile hub, House of Maruti has built a formidable reputation over the years. The company operates through three distinct subsidiaries: Maruti Exim, handling global exports; Maruti Trendz, catering to the Indian domestic market; and Maruti Studio, specializing in digital printing and bespoke fabric creations. This diversified approach allows House of Maruti to seamlessly blend traditional craftsmanship with cutting-edge technology, resulting in luxurious textiles for a discerning global clientele.
The company's strategic expansion began in earnest with the opening of its Dubai office in 2011, explains Vikas Modi,, Co-founder .The company has grown significantly in the Gulf region and the Middle East since establishing its presence in Dubai. It now aims to collaborate with leading fashion players in the region to further extend the reach of its world-class textiles and craftsmanship.
House of Maruti boasts an impressive product portfolio, including fabrics made from polyester, cotton, viscose, and various blends, along with intricate embroidery and cutting-edge digital prints. The company’s long-standing relationships with suppliers and rigorous quality control measures ensure that each product meets the highest standards of quality and consistency.
From its humble beginnings in Surat, House of Maruti has expanded its presence across the Middle East, Africa, and other regions. In addition to Dubai, the company has established operations in Saudi Arabia and several African countries. Its products are distributed in Kuwait, Iran, Iraq, and other parts of the Middle East, as well as in Nigeria, Sudan, Senegal, Morocco, and South-East Asian markets such as Indonesia and Thailand.
The Lycra Company supplies Coolmax EcoMade fiber for jerseys at 2024 Summer Games
A global leader in innovative and sustainable fiber and technology solutions for the apparel and textile industry, the Lycra Company supplied its Coolmax EcoMade fiber to make the indoor and beach jerseys for the Brazilian Volleyball team at the 2024 Summer Games in Paris. The jerseys have been designed by Body Work, a fitness brand from retailer Riachuelo.
The Coolmax EcoMade fiber used in these jerseys transports moisture away from the body to the fabric's surface, where it evaporates, helping athletes stay cool, dry, and comfortable. This technology converts pre-consumer textile waste scraps from garment manufacturers into fibers that perform comparably to virgin polyester. It is one of many innovative branded fibers produced by The Lycra Company to optimise athletic performance.
Owned by The Lycra Company, Lycra branded fibers have been integral to the games since 1968, when the French alpine ski team dominated the medal count in Grenoble. The team's ski suits featured Lycra fiber, providing a second-skin fit and greater freedom of movement. This long-standing history of performance and innovation in sports attests to the trust and reliability of the company’s fibers, instilling confidence in athletes and consumers alike.
Coats Digital shortlisted for nine SaaS Awards
Coats Digital’s FastReactFabric has been shortlisted in nine categories at The 2024 SaaS Awards, including Most Agile/Responsive SaaS Solution, Best Data-driven SaaS Product, and Best SaaS Product for CSR, Sustainability & ESG.
The SaaS Awards, known for recognizing innovative software solutions globally, received entries from organizations across North America, Canada, Europe, the Middle East, and Australasia.
Kunal Kapur, Managing Director of Coats Digital, expressed pride in FastReactFabric’s achievements and its impact on the fashion industry, particularly through enhancements like Roll Allocation and Remnant Planning. These features aim to improve competitiveness and environmental responsibility within the global apparel sector.
James Williams, CEO of The Cloud Awards, highlighted the exceptional quality of this year’s entries, congratulating the finalists for their achievements. Winners will be announced on August 13, 2024.
The SaaS Awards will reopen for new submissions in Spring 2025, continuing its mission to honor excellence in SaaS solutions.
E-commerce Exports Boom: China Leads, India poised to take off
E-commerce exports are growing globally, transforming how businesses reach international customers. But which country reigns supreme in this digital trade arena?
China tops the charts
China takes the crown for the largest volume and value of exports through e-commerce. Estimates suggest China's e-commerce exports reached $300 billion annually, dwarfing other major players. This dominance can be attributed to a vast domestic e-commerce ecosystem, strong manufacturing capabilities, and a government keen to promote cross-border online trade.
Fashion goes global
While data on the specific share of apparel and textiles in global e-commerce exports is limited, industry reports suggest fashion is a significant driver. The Business of Fashion and McKinsey & Company estimate apparel and footwear online sales could reach $762 billion globally by 2023. This trend highlights the growing consumer demand for convenient access to a wider variety of clothing and accessories.
India's e-commerce export potential
India presents a promising future for e-commerce exports. A report by the Directorate General of Foreign Trade (DGFT) suggests India's e-commerce exports could reach $400 billion by 2030, a significant leap from the current estimate of around $1 billion. This potential stems from India's diverse and competitive manufacturing sector, coupled with a growing pool of tech-savvy entrepreneurs.
To fully capitalize on this opportunity, India needs to address some key challenges:
Streamlining regulations: Implementing clear and efficient regulations for e-commerce exports can help businesses navigate the complexities of cross-border trade.
Logistics infrastructure: Investments in efficient logistics infrastructure, including robust postal systems and reliable international shipping options, are crucial for timely and cost-effective deliveries.
Digital literacy & support: Promoting digital literacy among small and medium-sized enterprises (SMEs) and providing dedicated support for e-commerce export operations is essential to empower businesses to tap into global markets.
Union Budget boosts MSMEs in textile industry: SIMA
The Indian textiles and clothing industry, the second-largest employment provider after agriculture, predominantly consists of MSMEs and employs around 11 crore people. The NDA government, under Prime Minister Narendra Modi, has significantly supported MSMEs by relaxing eligibility criteria, which now include asset values up to Rs 50 crores and annual turnovers up to Rs 250 crores. This has allowed over 80 per cent of textile manufacturing units to qualify as MSMEs, benefiting them during and post-lockdown periods.
SK Sundararaman, Chairman of the Southern India Mills’ Association (SIMA), praised the Union Budget's focus on employment, skilling, and MSMEs. He highlighted the Credit Guarantee Scheme for MSMEs, which offers term loans for machinery purchases up to Rs 100 crores without collateral. He also welcomed the mechanism for maintaining bank credit during stressed periods to prevent MSMEs from becoming NPAs.
The reduction of BCD on Methylene diphenyl diisocyanate (MDI) from 7.5 per cent to 5 per cent is expected to enhance the competitiveness of spandex yarn manufacturers. Increased allocations for export schemes RoDTEP and RoSCTL by 5.8 per cent and 10 per cent respectively will support the struggling textile export sector.
Sundararaman also lauded the Employment Linked Incentive Scheme and infrastructure improvements like roads, ports, and airports, which will reduce logistics costs. Additionally, the increase in Mudra loan limits from Rs 10 lakhs to Rs 20 lakhs will benefit small traders and weavers. The establishment of 12 industrial parks and initiatives for energy security, R&D, and skill development, PLI, PR-MITRA, NTTM will further bolster the textile industry.
Budget 2024-25: CITI praises growth, calls for textile competitiveness
Chairman of the Confederation of Indian Textile Industry (CITI), Rakesh Mehra, congratulated Finance Minister Nirmala Sitharaman on presenting her 7th budget, hailing it as forward-thinking for the Indian economy. He highlighted the need for bold measures in the stagnant textile and apparel industry to boost capacity, modernize, and enhance cost competitiveness.
Mehra emphasized the importance of MSMEs, which constitute 80 per cent of the textile industry, and praised the announced credit assurance schemes for aiding MSME growth and innovation. He lauded the recognition of e-commerce as a growth engine and the establishment of e-commerce hubs, industrial parks, and support for working women's hostels.
The budget’s focus on skilling, the Employment Linked Incentive scheme, and eased FDI norms were noted as positive steps for new investments. Financial support for clean energy transition and energy audits demonstrated the government's commitment to sustainability. Mehra also appreciated income tax relaxations, expecting an increase in consumer purchasing power to boost domestic textile demand.
However, Mehra pointed out the industry's struggles with raw material availability at competitive prices and the lack of investment incentives following the TUFS scheme's expiration in March 2022. He noted the need for capital subsidy schemes to ensure large-scale investments, as the current PLI scheme falls short. Mehra called for bolder steps to revive this employment-generating sector for a 'Viksit Bharat'.
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AEPC aims to boost RMG exports, leverage market gaps
The 14th edition of the India Tex Trends Fair was inaugurated today in Tokyo by His Excellency Sibi George, Ambassador of India to Japan, alongside Ishii Taku, Vice Minister of Economy, Trade and Industry, and Yoshitaka Sasakawa, Advisor, Japan India Industry Promotion Association (JIIPA).
Ambassador Sibi George praised the collaborative efforts of AEPC and JIIPA, highlighting the significant growth in exhibitors from 70 to 250 over seven years. He emphasized the potential for the textile sector to drive economic growth under the India-Japan Strategic Partnership, aiming to increase bilateral success stories from 1,500 to 15,000.
AEPC Chairman Sudhir Sekhi outlined the objectives to boost India's ready-made garment (RMG) exports to Japan and attract investments in India's RMG sector. He noted India's commitment to ESG compliance, renewable energy adoption, and the introduction of the traceable cotton brand, Kasturi.
Secretary General Mithileshwar Thakur highlighted the opportunity to increase India's current 1 per cent share of Japan's $23 billion garment import market. He stressed India's strengths in fibre availability, minimal import dependence, and a complete value chain, making it well-positioned to fill the gap left by China's declining market share in Japan.
With duty-free access under the Indo-Japan CEPA, Indian RMG manufacturers have a competitive advantage over Turkey and China, which face duties of 9 per cent and 9.5 per cent, respectively.
The fair features meetings with top Japanese brands and retailers, including Fast Retailing, Toray International, and MUJI, showcasing a diverse range of Indian apparel across various categories.
Better Cotton adds new co-chairs and members to Council
Better Cotton, the leading global initiative for cotton sustainability, has announced significant updates to its Council. The organization has appointed Bill Ballenden, Head of Sustainability and Innovation at Louis Dreyfus Company (LDC) Cotton, and Tamar Hoek, Senior Policy Director for Sustainable Fashion at Solidaridad, as its new co-chairs. Both bring diverse expertise and a shared commitment to advancing sustainability and traceability within the cotton industry.
Ballenden and Hoek will serve as ambassadors for Better Cotton, guiding policy decisions and promoting collaboration across the cotton value chain. They expressed enthusiasm about their roles, aiming to enhance sustainability and benefit the entire supply chain from farm to fabric through their combined expertise.
Joining the Council are five new members: Doug Forster, Chief Sourcing Officer at J.Crew Group; Elodie Gilart, Senior Sustainability Manager at Marks & Spencer; Nadia Bilal, Managing Director of Spinning at Nishat Chunian; Vicente Sando, Executive Coordinator at FONPA (Mozambique’s National Forum of Cotton Farmers); and re-elected members Rajan Bhopal from Pan UK and Shahid Zia from the Lok Sanjh Foundation.
Forster emphasized J.Crew's goal to source 100 per cent of its cotton sustainably by 2025, while Gilart highlighted Marks & Spencer’s commitment to traceability. Bilal will focus on capacity building and innovation in Asia’s cotton sector, and Sando aims to enhance transparency and inclusivity for small-scale farmers.
Departing members include Gerson Fajardo of Walmart, Pierre Chebab of LDC, and Kevin Quinlan. The Better Cotton Council remains central to shaping the organization’s strategic direction and advancing its mission to support cotton communities and protect the environment.
LVMH records 1.2% rise in revenues during Q2, FY25
Revenues of LVMH Moët Hennessy Louis Vuitton increased by 1.4 per cent to €20.98 billion during Q2, FY 25. On a Y-o-Y basis, the company’s revenues during the quarter ended June 30, 2024 increased by 1 per cent, marking a decline from the first quarter where revenues had increased by 3 per cent.
Sales from the company’s fashion and leather goods (FLG) division rose by 1 per cent to €10.28 billion on a like-for-like basis compared to the same period last year. However, this was below the Visible Alpha forecast, which anticipated a 2 per cent increase. The division faced a ‘substantial’ negative impact from exchange rate fluctuations during the first half of the year. Despite a 6 per cent decline in profit from recurring operations for FLG, the operating margin remained at historically high levels, particularly for flagship brands Louis Vuitton and Dior.
Missing analysts’ expectations, LVMH reported a net profit of €7.27 billion during H1, FY24. The company’s profit from recurring operations decreased by 8 per cent to €10.65 billion, resulting in an operating margin of 25.6 per cent. In response to these challenges, LVMH recently undertook a management reshuffle in its watches and jewelry division, appointing new chief executive officers at Hublot and Tag Heuer.
A storm in the apparel industry
The global apparel industry is currently navigating a complex and challenging landscape. A number of factors, including shifting consumer behavior, economic uncertainties, and geopolitical tensions, is impacting trade flows, retail sales, and overall market dynamics. The latest edition of ‘Apparel trade scenario in key global markets’ by Wazir Advisors’ reveal apparel imports by key global markets viz. US, UK, and Japan went down in May.
A contradictory import picture
One of the most striking trends is the divergent performance of apparel imports across key markets. While imports to the US, UK, and Japan contracted in May compared to the previous year, the EU bucked the trend with a robust 17 per cent increase. This disparity highlights the varying degrees of economic recovery and consumer sentiment in different regions.
The decline in imports to the US, the world's largest apparel market, is particularly noteworthy. This downturn is corroborated by retailers' inventory data, which indicates a substantial reduction in stock levels compared to the previous year. This suggests that retailers are exercising caution in replenishing their inventories amid uncertain consumer demand.
Export dynamics, a tale of two worlds
On the export side, the picture is equally complex. While India has registered impressive export growth at $12 billion a year on year change of 13 per cent, China and Bangladesh have witnessed declines. This shift in the export landscape could be attributed to several factors, including changes in production costs, trade policies, and consumer preferences.
Retail sales, a mixed bag
Retail sales data offers further insights into the state of the apparel industry. While the US has reported an increase in apparel and home furnishing store sales in June compared to the previous year. In June 2024, US monthly home furnishing store sales are estimated
to be $5.3 billion, which is 4 per cent higher than in June 2023. On YTD basis, the sales in 2024 are 8 per cent lower than in 2023.
The UK market has experienced a slight decline. In June 2024, UK’s monthly apparel store sales were £4.6 billion which is 2 per cent lower than in June 2023. On YTD basis, the sales in 2024 is 3 per cent lower than in 2023. In Q1 2024, UK’s online sales of clothing registered a growth of 7 per cent over Q1 2023. These contrasting trends underscore the regional differences in consumer spending patterns.
At the same time, for last several quarters, several major retailers like Walmart, Target, Kohl's, VF Corp GAP, PVH, Hanesbrand, Ralph Lauren have reported lower inventory levels compared to same period in the previous year
Economic headwinds
The broader economic environment is also exerting pressure on the apparel industry. The easing of inflation in the US is a positive development, but it has failed to boost consumer confidence. The decline in the Consumer Confidence Index and persistent unemployment challenges suggest that a revival in consumption is still elusive.
The study highlights, the apparel industry is at a crossroads. While the EU market is showing resilience, other major markets are grappling with challenges. Retailers are adopting a cautious approach to inventory management, and exporters are facing a shifting landscape. The industry will need to closely monitor consumer behavior, economic indicators, and geopolitical developments to navigate these turbulent waters. As the global economy continues to evolve, the apparel sector will undoubtedly undergo significant transformations.
Some key questions that still need to be seen are: What are the specific factors driving the divergence in apparel import trends between the EU and other major markets? How will the ongoing geopolitical tensions impact global apparel trade flows? What strategies can apparel retailers and manufacturers adopt to thrive in this uncertain environment?
By addressing these questions, industry stakeholders can develop effective strategies to mitigate risks and capitalize on emerging opportunities.
