The Indian textile industry is facing a major crisis due to increase in undervalued imports of Chinese knitted fabric mixed with woven fabric. This influx, estimated at 1000 metric tons per day, has crippled crucial sectors like dyeing, knitting, spinning, and fiber, pushing them towards closure.
Representatives from various textile associations and trade bodies raised this grave concern during a meeting held on January 18th. They highlighted the detrimental impact on domestic players:
Production Halt: New expansions under PLI and PM Mitra Park schemes have been put on hold due to unfair competition.
Revenue Loss: The exchequer faces an annual loss of INR 6,000-7,000 crores due to lost tax revenue.
Price Anomaly: The finished knitted fabric is being imported at prices equal to Indian spun yarn, raising suspicion of under-invoicing.
The primary reason for this crisis lies in the significant disparity between custom duties on woven and knitted fabrics. While woven fabric attracts a 20% duty with a cap, knitted fabric faces a 20% duty without any cap. This makes importing mixed fabric cheaper than importing woven fabric alone.
Industry experts proposed a straightforward solution: equalize the custom duties on both fabrics. This would level the playing field and curb under-invoicing. Additionally, setting a minimum import price of USD 4.5-5.0 per kg for knitted fabric was recommended R K Vij, representing TAI & NITMA, to ensure fair trade practices.
The meeting was attended by dignitaries like Piyush Goyal (Minister of Commerce & Industry & Textiles), Darshna Jardosh (Minister of State for Textiles), and Rachna Shah (Secretary Textiles). They acknowledged the issue and assured the stakeholders that it would be resolved within two months.
Sanjay Garg, President of NITMA, lauded the government's prompt response and expressed optimism about the future. He commended NITMA's year-long efforts in raising awareness about this issue and submitting detailed representations to relevant authorities.
The textile industry hopes that the government's swift action will address this critical issue and revive the struggling domestic sector.
The first half of Bangladesh's current fiscal year saw the garment export industry navigate a landscape of shifting patterns and mixed fortunes. While overall exports to the European Union dipped slightly by 1.24 per cent, reflecting a global slowdown in consumer spending, there were bright spots within the region. Spain, France, the Netherlands, and Poland all saw increased demand for Bangladeshi-made readymade garments (RMG).
This trend highlights the diversification of Bangladesh's export destinations. Germany, once the industry's top customer, witnessed a significant 17 per cent drop in imports, possibly due to a combination of high unsold stock in Western stores and inflation putting pressure on consumers. Italy also experienced a modest decline.
However, the disappointment in these established markets was offset by impressive growth elsewhere. The United States, despite being the single largest market, saw a 5.69 per cent decrease, but Canada emerged as a beacon of hope with a 4 per cent increase. Notably, the UK registered a remarkable 13.24 per cent surge, demonstrating the potential of new markets.
Beyond traditional destinations, exports to non-traditional markets soared by 12.28 per cent, led by Japan, Australia, and South Korea. This diversification bodes well for the industry's resilience in the face of challenges in established markets.
One concerning note was the 17.27 per cent drop in exports to India, highlighting the complex dynamics of regional trade.
Global textiles leader Hyosung is poised to shake up the denim industry with its innovative and sustainable solutions, to be showcased at the upcoming Kingpins NYC event on January 24-25. With a focus on global sourcing, ethical production, and cutting-edge materials like regen bio-based spandex, Hyosung is setting the stage for a greener future of denim.
According to Simon Hong, Global Marketing Head, the brand is uniquely positioned to meet these challenges with our global network, strong partnerships, and a comprehensive portfolio of certified sustainable textiles.
Hyosung's commitment to continuous innovation shines through in its diverse offering of sustainable materials that elevate denim to new heights. Recognising the importance of global sourcing, the company emphasises the efficient utilisation of resources from across the globe to optimize quality and minimize environmental impact. Additionally, Hyosung champions ethical production processes, ensuring transparency and responsible practices throughout the supply chain.
Responding to market demands, Hyosung is expanding its popular regen bio-based spandex line. Now available with both 70 per cent and 98 per cent renewable content, this innovative fiber offers brands a range of sustainable options without compromising on performance. Notably, Hyosung's 100 per cent recycled regen spandex, certified by the Recycled Claim Standard, has already been adopted by leading denim brands, paving the way for completely recycled denim products.
Forget fleeting trends and embrace timeless pieces that echo the infinite cycle of the ocean. That's the essence of Prada's 2024 Re-Nylon collection, where Emma Watson and Benedict Cumberbatch showcase garments crafted with a conscience. This isn't just fashion; it's a vibrant canvas painted with responsibility and respect for our planet.
Prada Re-Nylon isn't merely a collection born in 2019, it's a bold declaration. It's Prada weaving sustainability into the very fabric of its identity, transforming a luxurious material like nylon into a beacon of environmental consciousness. It's not just about eco-friendly fabric; it's about a seismic shift in the brand's DNA. Re-Nylon wasn't just a collection; it was a catalyst. It propelled Prada to ditch virgin nylon entirely, embracing Econyl, a revolutionary regenerated yarn that endlessly recycles without compromising quality.
This commitment ushers in a new era of luxury, one where environmental awareness and "thinking luxury" walk hand-in-hand. Prada Re-Nylon isn't just clothes; it's a conversation starter, a challenge to the industry's status quo.
The 2024 campaign embodies this evolution. With timeless pieces draped on Emma Watson and Benedict Cumberbatch, the collection celebrates conscious luxury against the backdrop of the very ocean it protects.
But Prada's commitment dives deeper than fashion. One percent of Re-Nylon proceeds support Sea Beyond, an educational program co-created with UNESCO to raise global awareness about sustainability and ocean literacy. This initiative underscores Prada's dedication to not just crafting sustainable products, but also nurturing a culture of environmental consciousness.
Known for its high-quality, affordable basics, Japanese retailer Uniqlo plans to open a store at the Houston’s Memorial Hall in Texas.
The 21,647-sq-ft shop promises to be a treasure trove of stylish essentials for Texans. Its construction is expected to be completed by Fall 2024, marking a significant milestone for Uniqlo's U.S. expansion plans.
This isn't Uniqlo's first attempt at conquering Texas. Back in 2020, plans for a Galleria store fizzled out, possibly due to the pandemic's grip. But this time, it seems things are moving forward with full steam.
Founded in 1984 in Hiroshima, Japan, Uniqlo's journey began with a simple mission: offering casual, affordable clothing for everyone. The name itself is a playful blend of "unique" and "clothing," hinting at the brand's commitment to individuality within accessible fashion.
Today, Uniqlo boasts over 100 stores in Japan and a staggering global presence. Its first US store opened in New York City in 2005, and since then, the brand has steadily grown, with most of its stores concentrated in New York and Chicago.
The arrival of Uniqlo in Texas is exciting news for fashion enthusiasts who appreciate quality, affordability, and conscious consumerism. The Houston store is sure to become a popular destination for those seeking stylish basics and innovative wardrobe essentials. While the exact opening date and additional Texas locations remain under wraps, one thing's for sure: Uniqlo's Texas invasion has officially begun.
In December 2023, Uniqlo's parent company announced plans to accelerate its North American growth in 2024. This includes opening over 20 new stores across the US and Canada, with a focus on entering new markets. The goal is to have more than 200 Uniqlo stores in the U.S. by 2027.
With its upcoming edition just weeks away, Moda, the trusted fashion destination within Spring Fair, is set to reaffirm its status as one of the UK's longest-standing fashion trade shows. Running from 4th to 7th February 2024, the event anticipates over 35,000 buyers across sectors, providing a front-row seat to the latest trends and must-have looks across three key sectors: Clothing & Footwear, Fashion Accessories, and Jewellery & Watch.
Discover new collections: A preview of exhibitors
The upcoming Moda edition promises a fresh edit, showcasing new season looks from renowned names such as Jayley, Lighthouse Clothing, and Peace of Mind (POM), alongside emerging brands like Lona Scott and EMU Australia. Over 200 exhibitors, including Soruka, Jessica Graaf, and Saloos, will present their on-trend products, offering buyers a diverse range of choices.
Moda fashion forecast 2024: A closer look at trends
Spotlighting the Clothing & Footwear market
The global apparel market is poised for continuous growth, with menswear and womenswear predicted to outperform other segments. As consumers return to the office, brands are adapting, creating collections that blend career clothing with comfort. McKinsey predicts a shift in consumer values in 2024, emphasizing increased travel influence on shopping priorities and a growing interest in creative influencers. Sustainability remains a priority, with eco-friendly practices gaining favor.
Accessories market: A beacon of rapid evolution
The global accessories market stands out as a rapidly evolving segment, mirroring changing consumer preferences. Brands need to stay innovative, offering on-trend, distinctive pieces that redefine outfits. The demand for accessories, especially in the UK, France, and the US, is growing rapidly. Consumers seek versatility, leading brands to pivot towards designing durable products suitable for various occasions. Sustainability is a key focus, with brands incorporating responsible materials into their designs.
Jewellery market: Ancient art meets modern trends
Jewellery & Watch is a revenue-generating powerhouse within the accessories market. As gold experiences a resurgence in demand, brands are strategically aligning their jewellery mix with consumer preferences. Longevity and minimalism are becoming key considerations, with a focus on classic and timeless pieces. Moda will feature a range of exciting brands, both returning and new, catering to the diverse tastes of buyers.
Inspiring retail stage: A multifaceted experience
To provide a fashion-forward experience, Spring Fair will host catwalk shows at the Inspiring Retail Stage in Moda - Hall 2. Nicole Higgins, a distinguished industry veteran, will conduct a Strategic Buying Masterclass, offering insights into successful retail buying. Dame Zandra Rhodes, a pioneer in fashion, will engage in a fireside chat, exploring her remarkable journey in design, leadership, and innovation.
In conclusion: An unmissable opportunity
Integrating Moda into Spring Fair has created an unmissable opportunity for buyers to access the latest ranges, trends, and innovations across the entire lifestyle spectrum. With buyers from global retailers and independent stores, Spring Fair aims to provide an unparalleled experience, allowing visitors to explore thousands of the latest products across Home, Gift, Moda, and Everyday.
Giltex LLC, a pioneer of vertical integration in Azerbaijan and the South Caucasus, has joined the International Textile Manufacturers Federation (ITMF). This marks a significant step for the region, showcasing its commitment to global collaboration and information exchange.
ITMF Director General, Christian Schindler, hailed the integration as a testament to the textile industry's global reach and welcomed the desire for knowledge and networking. He emphasized ITMF's role in providing reliable data, insights, and potential partnerships to navigate challenging times and prepare for the future.
Giltex's Head of Procurement, Kanan Budagov, highlighted ITMF's unique platform for discussing pressing issues and trends, gaining critical industry knowledge, and collaborating across the entire textile value chain. He sees this collaboration as key to overcoming challenges and turning them into opportunities.
This union signifies the growing importance of international networks and information sharing for success in the dynamic global textile industry.
Archroma, a leading provider of specialty chemicals for sustainable solutions, is unveiling its cutting-edge environmentally conscious innovations at Colombiatex de Las Américas from January 23 to 25, 2024. Recognizing the Colombian textile and apparel sector's commitment to quality and sustainability, Archroma aims to strengthen its ties with enterprises driving the industry's sustainable growth in Latin America.
Highlighting its commitment to circular business practices, Archroma introduces "Super Systems+," a revolutionary concept designed to optimize productivity, enhance product value, and contribute positively to the environment. Dhirendra Gautam, VP Product Marketing and Strategy, emphasized that Super Systems+ integrates Archroma's extensive product portfolio, technical expertise, and processing experience to provide end-to-end solutions for specific applications, enabling brands and mills to improve productivity, sustainability, and market competitiveness.
The Super Systems+ solutions cater to popular end-use segments, offering exceptional performance and meeting sustainability targets through cleaner chemistries. For instance, DIRESUL EVOLUTION BLACK reduces the environmental impact of black denim by 57%, while DENISOL PURE INDIGO 30 LIQ provides aniline-free pre-reduced indigo dye for authentic blue denim in a planet-friendly manner. Archroma’s EarthColors technology utilizes biosynthetic dyes from non-edible natural waste for circularity, contributing to natural shades on cellulosic-based fibers.
Archroma's ERIOPON E3-SAVE all-in-one auxiliary enables next-generation processing of polyester and its blends, achieving significant savings in water, energy, and time. Furthermore, Archroma's Super Systems+ leverage fluorine-free durable water repellents for weather protection and stain resistance, aligning with economic and environmental sustainability.
Colombiatex, a premier global platform showcasing sustainable practices in the textile and apparel industry, attracts over 500 exhibitors and 12,000 buyers from South America and worldwide, reflecting the growing importance of sustainable innovation in the sector.
Ludhiana, India's garment hub, grapples with rising imports of man-made fibers (MMFs) from China, threatening local weavers, spinners, and exporters. Cheap Chinese polyester cloth undercuts domestic prices by 10-15%, raising concerns of job losses and business closures.
Manoj Jain of Vallabh Yarns demands government protection for Ludhiana's hosiery industry against rampant fabric dumping from China. Unchecked imports threaten to cripple the sector, he warns.
Ludhiana enjoys advantages like ample skilled labor and accessible raw materials, making it an ideal hosiery destination. However, alleged mislabeling of Chinese polyester as cotton (subject to lower duty) further compounds the issue.
Improving credit access for small hosiery units could also boost the sector, suggests Sudhir Nayyar of Kapil Hosiery Works.
With its prime location and strong entrepreneurial spirit, Ludhiana's hosiery industry needs urgent support to overcome this critical challenge and preserve its legacy.
The sportswear giant known for its sleek designs and fierce marketing campaigns, Puma has being named as a Top Employer globally, across four regions, and in a 24 countries. Bestowed by the Top Employers Institute, this prestigious recognition is a testament to Puma’s unwavering commitment to creating a workplace that's truly exceptional.
The secret behind Puma’s success lies in a multifaceted approach to employee well-being and satisfaction. From a diverse training buffet to free gym access and sports courses, the brand invests heavily in its people's professional growth and physical fitness.
With work-life balance being a living reality in Puma, the brand offers flexible hours, mobile office options, and part-time/sabbatical flexibility to help employees to carve out their ideal work-life blend. It also offers dedicated parent-child offices, nursing rooms, daycare spots, and even summer camps for parents.
Dietmar Knoess, Vice President-People and Organisation, sums up, Puma is one of only 17 companies globally to receive this Top Employer award. This further propels us to keep making Puma the most fantastic place to work in the world.
When it comes to employee care, Puma truly walks the talk. The brand’s dedication to creating a thriving, supportive, and enriching work environment helps it attract and retain the best of workforce.
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