In the third quarter of fiscal year 2024, the revenues of US-based fashion brand Guess Inc saw a 3 per cent increase, reaching $651.2 million compared to $633.4 million in the same quarter of the previous year. Adjusted for constant currency, the revenue increase amounted to 1 per cent. Guess experienced a 6 per cent increase in revenues in the European market in US dollars, with a 5per cent rise in constant currency. The brand also reported an 8 per cent surge in US dollars and a 7 per cent increase in constant currency in retail comparable sales.
However, the retail segment in Americas reported a 7 per cent drop in revenue and an 8 per cent decrease in constant currency. Retail comparable sales, including e-commerce, declined by 5 per cent in both US dollars and constant currency in the region. Wholesale revenues in the Americas increased by 4per cent in US dollars but decreased by 1 per cent in constant currency.
In the Asian market, Guess saw a 2 per cent increase in revenues in US dollars, while remaining flat in constant currency. Retail comparable sales, including e-commerce, decreased by 8 per cent in US dollars and 9 per cent in constant currency. Licensing revenues rose by 19per cent in both US dollars and constant currency. Guess' GAAP and adjusted operating margins increased to 8.4 per cent and 8.9 per cent, respectively, during the quarter, as highlighted by Carlos Alberini, the CEO.
A recent research from Simon Fraser University (SFU) recommends enhancing the sustainability of the current fashion industry. Co-authored by Judith Lynne Zaichkowsky, Professor of Marketing at SFU, along with Yunzhijun Yu, a Ph.D. student at SFU, and Claudia Lizzette Gomez Borquez, a Visiting Ph.D. student, the report delves into the environmental impact of fast fashion. It advocates for consumers to choose sustainable alternatives, highlighting that fast fashion negatively affects the planet not only through overproduction but also in terms of disposal. Zaichkowsky notes that textile dyes from clothing contribute to water pollution, impacting the health of consumers, particularly in countries like Bangladesh, Cambodia, and Vietnam.
The fashion industry discarded over 11.3 million tons of clothing in 2018, significantly polluting Vietnam's water systems and causing 80 per cent of total illnesses in the country, adds Zaichkowsky. To address this issue, Zaichkowsky suggests consumers try on clothes before purchasing and limit their color choices to reduce clothing waste. Additionally, he advises against buying clothes online as it hinders the ability to assess fit and suitability.
In its fifth edition, the Cellulose Fibres Conference, slated for March 13–14, 2024, in Cologne, Germany, and online, promises a dynamic platform for 220 participants from 27 countries. Renowned as a catalyst for advancements in cellulose fibre technology, the conference focuses on sustainable practices in textiles, hygiene products, and packaging.
The cellulose industry, primarily reliant on wood-based chemical pulp, is evolving with the emergence of alternative sources like agricultural wastes, recycled textiles, and paper grade pulp. The 2024 conference will explore these transformative trends, showcasing new technologies, processing methods, and ideas.
With a keen eye on sustainability, the conference aligns with the European Commission's push for circular economies. Sessions will spotlight the transition of industries, especially textiles and single-use products, toward eco-friendly practices. Green technologies extracting cellulose from diverse sources, such as distillers' grains and banknotes, will be a focal point, reinforcing the industry's commitment to sustainable production.
Cellulose fibres, as bio-based and biodegradable materials, are positioned as a viable substitute for single-use plastics. The conference will delve into innovations like 100% cellulose-based recyclable barrier papers and cellulose foam, offering sustainable solutions for packaging, wet wipes, and hygiene products.
The 2024 Cellulose Fibres Conference aims to consolidate the gains made in the past decade, bringing together key players across the cellulose value chain. With a comprehensive agenda covering lignocellulose, chemical pulp, cellulose fibres, and their applications, the event underscores the industry's trajectory towards a promising and sustainable future. The conference expresses gratitude to key industry supporters and features the "Cellulose Fibre Innovation of the Year 2024" award, sponsored by GIG Karasek.
Innovators are invited to submit their groundbreaking contributions by the December 15, 2023 deadline, contributing to the ongoing success story of the Cellulose Fibres Conference.
Archroma, a global leader in sustainable specialty chemicals, is joining forces with ISPO Academy for a four-day Masterclass during ISPO Munich 2023, the world's premier sports industry trade fair. With over 50,000 visitors and 2,000 exhibitors anticipated, the event will focus on the theme "CIRCULARITY – Create | Adapt | Revive."
The ISPO Academy Masterclass serves as a nexus between education and industry, convening top students from leading design schools to collaborate on innovative sportswear concepts. This unique initiative fosters multidisciplinary thinking and forward-looking approaches, supported by industry innovators, including Archroma's Color Management business. The Masterclass concludes with a public presentation of workshop results on November 29.
Nora Kuehner, Founder and Chair of the ISPO Academy Master Class, emphasizes the event's evolution, urging participants to "Create, Adapt, and Revive" for meaningful product design, with Archroma's ongoing support.
Archroma, sponsoring the Masterclass for the fifth time, equips teams with The Color Atlas by Archroma—the industry's extensive library of 5,760 colors for cotton and polyester fibers. This resource empowers students to explore new design perspectives and ensure their presentations align with international eco-standards.
Chris Hipps, Global Director of Archroma Color Management, expresses excitement about sharing the company's unique perspectives on color and sustainability. The Color Atlas aims to inspire creative freedom and excellence among Masterclass students, offering off-the-shelf color inspiration for sustainable fashion design. The online version recently received the Business Expansion – Digital Platform award at the Just Style 2023 Excellence Awards.
Chad’s only aggregator and cotton exporter, Cotontchad has collaborated with Better Cotton, the world’s largest cotton sustainability initiative, and IDH in N’Djamena, to discuss the potential for the launch of a new Better Cotton Program.
The multistakeholder event will be attended by many national ministries, cotton farmer representatives, private sector actors and civil society organisations. It will facilitate dialogue on the challenges and opportunities in the development of sustainable cotton sector in Chad.
Supporting around 200,000 smallholder farmers across the country through financial aid and the allocation of resources, Cotonchad has boost cotton yields across the country from 17,500 metric tons (MT) in 2019 to more than 145,000 MT in 2022.
Oliver Renson, Chief Executive Officer, Cotontchad, says, this meeting will present the way forward for creating a suitable environment for Chand’s cotton farming communities.
Pramit Chanda, Global Director Textiles and Manufacturing, IDH, adds, this initiative will help promote broader regional development of the Climate Resilient Cotton Landscape.
Adesh Kumar Gupta, who served as the Executive Director at Liberty Shoes, was removed from the company's board of directors following the rejection of his petition by the National Company Law Tribunal (NCLT). Gupta's plea, filed under Section 244 of the Companies Act, 2013, which alleged oppression and mismanagement, was dismissed after seeking exemption from the requirement to file such a plea.
Gupta, along with other shareholders, collectively holding 5.83 per cent of the company's shares, sought relief under Section 244. To file a plea on grounds of oppression and mismanagement, he needed at least one-tenth of the total issued share capital of the company. While this requirement can be waived by the NCLT in special circumstances, Gupta's petition was rejected.
The resolution for Gupta's removal from the company's board was passed during the Annual General Meeting held on September 30, 2023. This development marks a significant change in the leadership structure of Liberty Shoes, with Gupta's removal raising questions about the governance and internal dynamics within the company.
Reebok, the well-known footwear and apparel brand, has opened its flagship store in Kammanahalli, Bengaluru. The opening was led by OP Jaisha, accomplished field athlete and Olympian. This cutting-edge store features an extensive and carefully curated collection that includes a wide range of footwear, clothing, and accessories, catering specifically to the diverse requirements of fitness enthusiasts.
As an integral part of the Authentic Brands Group (ABG), Reebok collaborates closely with Aditya Birla Fashion and Retail (ABFRL) in India. With a strategic vision to expand its retail footprint, the brand has ambitious plans to open new stores throughout the country, solidifying its strong presence in the Indian market.
Black White Orange (BWO) has set its sights on developing and overseeing merchandise licensing operations in India through a strategic partnership with Playboy Enterprises International, a prominent lifestyle brand and a key player within the PLBY Group.
This collaboration will empower BWO to manage an array of categories, spanning fashion, accessories, beauty, grooming, home, innerwear, and shopping experiences.
Allison Kopcha, Chief Business Development Officer and Licensing at Playboy says, the company's robust business acumen, distinctive licensing approach, and deep understanding of the Gen-Z and millennial consumer mindset position it well to thrive in the Indian market. Mitali Desai, Co-founder of Black White Orange, emphasizes the partnership will leverage Playboy's assets, including the iconic Rabbit Head logo, to not only offer a diverse range of lifestyle products but also deliver an inclusive shopping experience.
Currently, BWO boasts partnerships with Jay Jay, Kwality Restaurants, Bluorng, The Noble Sculptor, Balenzia, Daily Objects, and Bonker’s Corner in India.
Suditi Sports Apparel, a prominent exporter of clothing, has entered a multi-year partnership with the National Basketball Association (NBA) to manufacture and distribute fully licensed NBA fanwear in India. This collaboration strengthens the enduring relationship between Suditi and NBA and positions Suditi as one of the exclusive manufacturers of licensed NBA apparel in the Indian market. Under this agreement, Suditi will officially produce licensed NBA merchandise, encompassing fanwear for both current and former players, as well as a range of apparel, headwear, innerwear, accessories, and more.
The distribution channels will include the direct-to-consumer platform, ShopTheArena.com, along with select offline and online retail channels across India. Sunny Malik, Business Head of Global Partnerships and Media, NBA, highlights this partnership has surged the demand for NBA-branded Suditi products by four times.
Harsh Agarwal, Co-Founder of Suditi Sports Apparel, explains in the subsequent phase of this collaboration, the company aims to drive the growth of merchandise segment in India, capitalizing on the thriving consumer market.
It's worth noting that the NBA recently engaged in a multiyear partnership with the indigenous contemporary clothing brand Bhaane to manage its NBA's online store, NBAStore.in. This indicates the NBA's concerted efforts to expand its presence and merchandise offerings in the Indian market through strategic partnerships with reputable local brands.
Source Fashion, recognized as one of Europe's rapidly growing sourcing shows, has joined forces with retail trends consultancy Insider Trends to delve into transparency and accountability within the retail industry. The collaborative initiative aims to unveil a comprehensive Transparency Report and host a corresponding webinar.
Suzanne Ellingham, Director of Sourcing at Source Fashion, emphasizes the Transparency Report will explore sustainability prospects in an industry often fixated on promoting new products. The report seeks to provide meaningful and straightforward insights into the future of the retail sector.
Scheduled for launch on November 30, 2023, the Transparency Report will be presented through a webinar by Jack Stratten, Head of Trends at Insider Trends. Stratten will offer an overview of the UK retail market, analyze consumer trends, delve into opportunities within the fashion landscape, and underscore the significance of sustainable and ethical sourcing for UK consumers.
Additionally, Source Fashion, in collaboration with independent economics research consultancy Retail Economics, is delivering ongoing retail trends and insights.
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