The Sri Lankan’s government’s decision to renegotiate a free-trade agreement with India has been appreciated by the domestic apparel industry. The move will give local producers more access to the Indian market to export their products.
As Hasitha Premaratne, Managing Director, Brandix Group points out, Sri Lankan producers can currently export only eight million pieces per year. However, increased access to the growing Indian middle class will enable them to increase their exports to $1 billion in the future, he added.
Premaratne believes, Sri Lanka can benefit from the current India-China political tensions by increasing its sportswear exports to India. The new FTA, proposed in the 2024 Budget will pave the way for this, he adds. Before the pandemic, Sri Lankan apparel exports revenue had touched $6 billion mark. This year, it is expected to recover to around $5 billion.
The Union textiles ministry plans tom make the production-linked incentive (PLI) scheme more flexible to attract more investments and encourage greater manufacturing. The plan is to add more product lines under the scheme. Launched two years ago with a budgetary outlay of Rs 10,683 crore, the scheme aims to boost local production of man-made fabric (MMF) garments and technical textiles.
Media reports suggest, the ministry has sought an approval for extending the HSN (harmonised system) codes of MMF to include as many categories as possible. The reason for this extension is the expanding scope of textile and fashion industry and increasing demand for fabrics. The earlier HSN codes were wrongly fixed, leading to confusion between artificial and natural fibers.
However, the present government hopes to widen their applications to invite more investments in the industry. The guidelines of the scheme were first released in December 2021. The government had received 64 applications with commitments worth approximately Rs 6,000 crore. The government has also sought the cabinet’s approval for another iteration of the PLI scheme for the textiles sector, with a focus on the apparels segment. The second edition of the scheme will focus on micro, small and medium enterprises (MSMEs) by lowering their investment limits to Rs 50 crore and Rs 25 crore under Part 1 and Part 2, respectively.
An amount of Rs 4,000 crore from the money unutilised in the first place will be used to fund PLI 2.0, said the official.
A report titled, ‘Cotton: World Markets and Trade’ by the US Department of Agriculture (USDA) estimates, global cotton production will rise marginally to 113.5 million bales in 2023-24. The report attributes this increase primarily to higher yields in Afghanistan, Argentina, US and Paraguay. In fact, Argentina recorded the highest yield in 10 years while Afghanistan achieved record-level production.
Contrary to this, global cotton consumption is expected to have decreased by 500,000 bales to 115.3 million bales. Lower usage in key cotton markets including the US, Turkey and Vietnam caused this consumption decline. However, this drop
did not affect the global cotton trade which is expected to remain stable at 43.3 million bales. However, this stability resulted from China’s increased imports balancing out imports by Vietnam and Turkey.
Global cotton end stocks have increased by 1.6 million bales to 81.5 million bales on account of China’s increased government spending, increase in US production and declining exports from India. The season-average farm price for the 2023-24 crop in the US is expected to decline slightly by 3 cents, settling at 77 cents per pound.
The upcoming Pure London x JATC show, set to dazzle fashion enthusiasts from February 11-13, 2024, promises to be a groundbreaking celebration of diversity and inclusivity. At the heart of the event is the expanded POP destination, sparking a vibrant conversation in the fashion world. This unique showcase embraces gender fluidity and cultural inspiration, presenting the newest and most diverse fashion collections.
The trendsetters redefining fashion: Spotlight on emerging brands
Audrey Hamilton Apparel, an Irish premium fashion brand, is poised to leave a lasting impact this season. Designed by the renowned pop and abstract artist Audrey Hamilton, the collection combines art and fashion, offering a unique and captivating experience. Nearby, The Social Club London introduces inclusive loungewear and accessories with a distinctive 'feelgood' factor. RAINMAKR LONDON impresses with print designs that cater to the Millennial and Gen Z demographic, emphasizing material quality and custom sizing.
Legacy meets innovation: Returning favourites and newcomers
In its second season, POP brings together both returning favourites and exciting newcomers. Nova of London showcases an extensive, fashion-forward collection mixing innovation with the latest trends. Glamorous, a global powerhouse, returns with a collection defined by its fearless approach to breaking fashion rules. Heretic Nine, an independent Shoreditch brand, draws inspiration from global streetwear and subcultures, creating concept-led collections for non-conformists.
Gloria Sandrucci, Pure London Event Director, enthuses, "In only its second season, POP is surpassing all our expectations, attracting an incredible selection of new and energetic brands. The destination is at the cutting-edge of fashion, offering buyers an edit of collections exploring new technologies and innovation in a style inspired by pop culture and street style."
With over 300 curated brands, the Pure London x JATC show is not just a fashion event; it's a cultural phenomenon. As it unfolds at Olympia London, attendees can expect a sensory journey through art, innovation, and the boundless possibilities of fashion.
China seems to be coming back with a bang as the country’s apparel companies have made a good economic start this year with encouraging recovery. For the first time post-pandemic, demand from apparel retailers based in the US and EU sourcing from Bangladesh is now lesser with far higher sourcing from China. US-based apparel buyers are now scaling back sourcing from Bangladesh in certain segments and re-directing it to China and other South Asian countries. As per a QIMA report, a leading global testing, inspection, certification and compliance company, Bangladesh share fell 10 per cent year-on-year between January and September while China’s went up 14 per cent.
The prosperity index of China’s cotton textile industry is flourishing again and touched 50.5 in August 2023, up 1.5 from in July. Month-on-month growth in August showed, raw material purchasing index was 52.2, up 3.6 over July and the raw material inventory index was 49.6, which is up 0.8 month-on-month with a general production index was 50.1 currently. China’s cotton industry prosperity index is calculated based on numerous indicators from around 500 core cotton textile companies. If the figure is 50 or above it reflects an increase and below that it’s an indication of a dip.
Operating incomes of Chinese companies rise
A recent report by the China-based Zhejiang Huarui Information Consulting Company (CCF) a leading consulting company in chemical fiber and textile industry of 12 major listed apparel companies in China has shown that most have made a positive start this year and are slowly heading towards an economic restart and industry recovery. HLA as the core fast fashion brand under Heilan Group based in Jiangsu Province had the highest operating income in January-September 2023 of around 15.57 billion yuan which was a Y-O-Y- increase of around 13.85 per cent. Other apparel companies such as Semir and Youngor held the second and third highest positions with operating incomes of 8.9 billion yuan and 7.46 billion yuan respectively which was a Y-O-Y decrease of 0.5 per cent and 41.85 per cent.
At the other end of the scale were GRN and Meters/bonwe which ranked last with around 1.07 billion yuan and 837 million yuan respectively which was a Y-o-Y increase of 8.6 per cent and a decrease of 13.5 per cent.
Most of the 12 listed apparel companies in the CCF report have shown good operational development in the first three quarters of this year although the decline in operating income of the 12 companies in Jan-Sep was a bit higher than the first half of the year. Indeed the worst of the pandemic years may just be over, it is still too early for Chinese apparel exporters to be elated in an uncertain economy.
Bangladesh needs to diversify to compete
As Western consumers tighten their purse strings due to inflation and fears of economic downturn, brands and retailers are once again focusing on China as a sourcing and supplier destination due to its well-established manufacturing infrastructure. Bangladesh is simply losing out in this process. The need of the hour for Bangladesh is to branch out into manmade textiles instead of being heavily cotton-oriented.
As per Bangladesh’s Export Promotion Bureau the country’s garment exports in October saw about 14 per cent YoY decline to reach $3.16 billion, the monthly lowest since August 2021 when the segment earned around $2.73 billion. Bangladesh currently holds a 34.7 per cent share in the EU's cotton garment imports, whereas the share for non-cotton garments is 12 per cent. This issue needs to be addressed seriously. Along with readymade textiles, export of footwear, leather, and home textiles, if handled right, could be a turning point for the recovery of Bangladesh’s apparel segment.
In response to the escalating demand for eco-friendly materials and heightened transparency in product ingredients, VEOCEL, Lenzing Group's premier nonwovens brand, showcased its LENZING Lyocell Dry fiber at Hygienix 2023.
A standout feature of this fiber is its classification as non-plastic according to EU SUPD standards, aligning with the industry and consumer preference for plastic-free solutions. The absorbent hygiene product sector, traditionally reliant on fossil-based materials, is undergoing a transformation due to evolving consumer preferences, environmental concerns, and technological advancements.
LENZING Lyocell Dry fiber, while prioritizing environmental sustainability, delivers exceptional dryness and comfort, positioning itself as the ideal choice for absorbent hygiene applications.
This innovative solution was prominently featured at Hygienix, where VEOCEL emphasized its strategic focus on showcasing the fiber's unique capabilities. Noteworthy attributes include high-performance liquid management, comfort, and a plastic-free approach.
Monique Buch, Executive Vice President Nonwovens at Lenzing AG, highlighted a noticeable industry shift away from fossil-based materials at the Hygienix tradeshow. The increasing emphasis on plastic-free products aligns with both industry and consumer interests, positioning LENZING Lyocell Dry fibers as an environmentally friendly alternative.
The EU SUPD's efforts to raise awareness about plastic pollution further support the adoption of plastic-free alternatives. The wood-based VEOCEL lyocell fibers with Dry technology, being biodegradable and produced in a closed-loop process with low water consumption, contribute to a sustainable future for personal care and hygiene products.
In a groundbreaking move towards sustainable apparel, NILIT, a global leader in Nylon 6.6 products, emphasizes the pivotal role of partnerships in reshaping the traditional global supply chain.
Michelle Lea, NILIT’s VP of global marketing, stresses the integral nature of collaboration to address the fashion industry’s environmental impact. Over the past two years, NILIT has introduced innovative SENSIL technologies, garnering acclaim through award-winning collaborations with mills, brands, and retailers.
NILIT's recent recognition includes three ISPO Textrends Awards for Fall/Winter 25/26. Noteworthy collaborations involve biodegradable SENSIL BioCare in Pontetorto’s Second Layer Top 10 fabric, SENSIL ByNature in Cifra’s Street Sports Selection fabric, and SENSIL BioCare in Eusebio’s Base Layer Selection fabric.
The company proudly showcases its partnership with Jack Wolfskin at ISPO Munich, unveiling the Pioneers Collection that seamlessly blends sustainable SENSIL Nylon 6.6 technology with minimalist design for urban and outdoor apparel.
NILIT invites industry stakeholders to a panel discussion on November 29 at the Sustainability Hub stage, addressing the reduction of fossil resource dependency in apparel through the biomass balance approach.
SENSIL stands out as the industry's largest portfolio of sustainable premium Nylon 6.6 products, with NILIT actively promoting sustainability across the entire supply chain, from manufacturing processes to end products.
Arvis LLC, a leading textile firm in Tajikistan, has joined the International Textile Manufacturers Federation (ITMF), marking a strategic move to enhance its global presence.
Christian Schindler, ITMF's Director General, highlighted that Arvis's membership positions it as a vital contributor to a global forum spanning fiber production to garment manufacturing.
While Tajikistan's textile focus is presently on cotton products within the CIS countries, ITMF offers Arvis a broader perspective, exposing them to diverse fibers and international markets.
Vali Samiev, Arvis LLC's General Director, emphasized the primary goal of staying informed and engaged in ITMF activities. He sees this affiliation as crucial for an internationally oriented company, providing insights into the global textile industry and fostering non-competitive collaborations with companies worldwide.
Arvis LLC's strategic move signifies a commitment to navigating the complexities of the international textile landscape.
YKK Corporation has unveiled its "This is YKK 2023" report, providing a comprehensive overview of the company's management and business pursuits in line with the Cycle of Goodness corporate philosophy.
Emphasizing sustainability, the report, accessible on YKK's website, details progress in addressing key themes: climate change, material resources, water resources, chemical management, and respect for people.
Aligned with the YKK Sustainability Vision 2050, aiming for carbon neutrality by 2050, the report highlights a 46.9% reduction in Scope 1 and 2 GHG emissions, a 20.9% reduction in Scope 3 GHG emissions, and expanded renewable energy usage across 31 locations globally.
YKK's commitment to sustainability extends to material resources, with 26% of textiles in fastening products incorporating recycled and sustainable materials. The report also outlines achievements in water resource reduction, chemical management, and respect for people, including the implementation of self-checks and audits based on YKK Global Criteria of Compliance.
Hiroaki Otani, President of YKK Corporation, states, “The Cycle of Goodness places sustainability at the center of our management approach, with the primary objective of meeting the needs of our customers and local communities.”
With a focus on shared prosperity, YKK aims to contribute to societal well-being while fulfilling customer and community needs, reinforcing its commitment to building a sustainable society.
In a groundbreaking move, the VIEW Premium Selection Spring/Summer 25 is set to unveil its summer collections for the first time at the cutting-edge Dampfdom, nestled within Motorworld Munich.
Evolving into the Preview Textile Show, VIEW stands as a pivotal and exclusive sourcing hub, orchestrating an avant-garde display of over 250 collections for the upcoming season. Positioned at the heart of Europe, the event establishes new standards with its concentrated and efficient presentation.
Managed by Sebastian Klinder, Munich Fabric Start's Managing Director, the event promises a meticulously curated exhibition, unveiling the initial color and material trends, coupled with groundbreaking technological and sustainable innovations. The Dampfdom's architecturally spectacular setting at Motorworld provides an ideal backdrop, fostering a unique blend of professionalism and intimacy.
Kicking off the Spring/Summer 25 season, VIEW will showcase more than 250 collections spanning FABRICS, ADDITIONALS, DENIM, and SPORTSWEAR. The international allure extends beyond Germany, Italy, and Turkey, welcoming exhibitors from Japan, France, Greece, and China.
Renowned brands like Akin, Bonotto, Calik Denim, and Toray converge with others to forge a distinctive platform for insights and inspiration, offering a glimpse into the future of fashion. The VIEW Premium Selection Spring/Summer 25 emerges not only as a preview but as a transformative experience, encapsulating the pulse of the industry at its inception.
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