Mohammad Ali Khokon, President of the Bangladesh Textile Mills Association (BTMA), has called on Bangladesh Bank to extend its refinancing facility to the textile industry, aiming to facilitate its modernization.
The Central Bank introduced a TK 10 billion refinancing scheme in 2021 to modernize and enhance the country's export-oriented sectors. This scheme offers loans at a rate of 5 to 6 percent for a period of three to ten years, with a grace period of one year.
BTMA has also urged the commerce ministry to include the country's textile sector in the new export policy for 2023-26. The current Export Policy for 2021-24 prioritizes denim, MMF, home textiles, décor, terry towels, and recycled products, overlooking crucial sectors like spinning, fabric manufacturing, dyeing, printing, and finishing.
The primary textile sector in Bangladesh has seen an investment of approximately $16.00 billion, contributing around 13 percent to the country's GDP. According to BTMA data, this sector generates over 84 percent of the country's export earnings. The export earnings for the fiscal years 2018-19, 2019-20, 2020-21, 2021-22, and 2022-23 amounted to $21.9 billion, $18 billion, $20.9 billion, $28.8 billion, and $31.03 billion, respectively.
China-based fast fashion giant, Shein, is set to make its debut in US stock market with an IPO in 2024. The company has enlisted Goldman Sachs, JPMorgan Chase, and Morgan Stanley as lead underwriters for the IPO. Shein has previously conducted discreet roadshows in the US as part of its IPO preparations. Known for its budget-friendly offerings such as $10 tops and $5 biker shorts, Shein primarily ships products individually from China via air, enabling it to circumvent import taxes in the US. Additionally, the company benefits from the 'de-minimis' provision, exempting low-cost imports from tariffs.
Ongoing negotiations with three investment banks are in progress for the potential IPO, and Shein plans to collaborate with the New York Stock Exchange and Nasdaq for the venture. With a valuation surpassing $60 billion, Shein is on track to become the most valuable China-based company to launch an IPO in the US since Didi Global's $68 billion IPO in 2021.
In a strategic move, Shein has partnered with the SPARC Group to expand its market presence and capitalize on the increasing demand for its products.
In a historic celebration of trade and cultural exchange, the inaugural Brands of India trade show, organized by the Clothing Manufacturers Association of India (CMAI), commenced at the Dubai World Trade Centre. Butti Saeed Al Ghandi, Vice-Chairman of the Dubai World Trade Centre, presided over the grand inauguration, setting the stage for a captivating showcase in Halls 6 & 7 from November 27th to 29th, 2023.
International collaboration on display
Supported by key entities such as the Embassy of India-UAE, TEXMAS, Dubai International Chamber, and the Readymade Garments Merchants Group Dubai, the event underscores the rapid expansion of Indian businesses in the UAE market. This surge is attributed to the positive momentum following the India-UAE Comprehensive Economic Partnership Agreement (CEPA) signed in 2022.
Government support and vision
Commending CMAI for Brands of India, Piyush Goyal, Minister of Commerce & Industry, highlighted the platform as an excellent opportunity for Indian brands to establish a global presence. Under the leadership of Prime Minister Narendra Modi, the Indian government is dedicated to fostering a world-class textile sector. The event aligns with the government's vision of promoting Indian brands globally.
Strengthening economic ties
Rajesh Masand, President of CMAI, emphasized the long-standing economic and cultural ties between India and the UAE. Brands of India serves as a catalyst, empowering Indian Apparel brands to strengthen their presence in the MENA region. Masand also highlighted the recent cooperation in digital currencies between the two countries, a development set to further boost business.
Fashion diplomacy
Butti Saeed Al Ghandi, Vice-Chairman of the Dubai World Trade Centre, as the Chief Guest, emphasized the power of fashion to transcend borders and create lasting connections. He expressed delight at witnessing an event that promotes diversity and showcases the vibrant tapestry of Indian brands.
Global recognition and participation
Jayesh Shah, Chairman of Brands of India, expressed excitement over the overwhelming response, with more than 350 brands participating instead of the initially envisioned 150. Renowned brands like Oxemberg, J. Hamstead, and Louis Philippe are among the 1500 buyers from over 30 countries who have pre-registered, affirming the show's potential to create exciting business prospects for Indian brands in the region.
Expanding global presence
Sunjay Sudhir, Ambassador of India to UAE, highlighted the global appeal of Indian brands and the immense scope for expansion in the Gulf, Middle East, Africa, and Europe under CEPA.
In conclusion, Brands of India is poised to be a key milestone in the international journey of Indian Apparel brands, showcasing a diverse collection spanning Western wear, Indian Ethnic wear, and Fusion wear.
Nairobi is ready to host the maiden International Textile Machinery Exhibition (ITME) Africa & ME 2023, organized by India ITME Society. Scheduled from November 30 to December 2, 2023, at the KICC in Nairobi, Kenya, this event marks a significant milestone, connecting the global textile industry to Kenya and Africa's growing textile technology and engineering sector.
Designed as a prime platform for textile manufacturers, exporters, dealers, entrepreneurs, and investors, ITME Africa 2023 is expected to draw approximately 60 exhibitors from India, 9 companies from Italy, 24 Chinese companies, and participants from Turkey, Egypt, Kenya, Germany, Austria, Ethiopia, and Taiwan.
The event will feature a series of technical sessions, including discussions on high-quality cotton cultivation and optimal spinning techniques. Eminent speakers such as Jas Bedi of KEPSA, Richard Cheruiyot of EPZA, and Naveen Joon of Exim Bank India will lead these discussions. Attendees will also have the opportunity to connect with key organizations such as the Export Processing Zone Authority (EPZA), KenInvest, Gatsby Africa, Kenya National Chamber of Commerce & Industry (KNCCI), and Fashion Agenda Africa (FAA).
In its inaugural Sustainability Bulletin, Uster Technologies, a leading quality control systems provider, delves into the complexities of incorporating recycled materials into the textile value chain. The publication is a testament to Uster's commitment to advancing sustainability across the industry.
As consumer demand for eco-friendly textiles rises, Uster's report addresses the uncertainties faced by yarn producers, offering insights into economic and technical challenges. Gabriela Peters, Head of Product Management Laboratory Systems at Uster, highlights the specific quality considerations involved in using mechanically recycled fibers in spinning, emphasizing the higher short-fiber and nep content, along with potential color issues.
The bulletin focuses on resolving challenges associated with mechanically recycled raw materials, offering clarity on processing steps and ideas for overcoming obstacles. Studies cited in the report suggest that recycled fibers are well-suited for applications where strength is less critical, making them ideal for casual wear like T-shirts and denim jeans trousers.
Uster Technologies positions itself as a knowledge provider, setting industry standards and definitions to facilitate the ongoing transformation. The Uster Statistics 2023 edition, launched at ITMA 2023, introduces a section on recycled yarn, providing benchmarks to measure, control, and improve quality. Uster acts as a neutral arbiter, guiding spinners on processing various recycled materials while emphasizing the need for collaboration across the textile chain for a sustainable future.
In conclusion, Uster Technologies sees the effective use of recycled materials as pivotal for the industry's success, urging collaboration and knowledge-sharing to navigate the transformative landscape toward a sustainable future.
Karen Radley, Founder and Managing Director of Scoop, invites fashion enthusiasts to 'Uncover the Exceptional' at Olympia West, Kensington, from the 11th to the 13th of February 2024. The curated lineup includes emerging international accessory designers, promising a diverse range of styles and innovations.
Among the highlights is Spitfire, the creative glasses label known for its bold frames and lenses, injecting a fresh style into the UK market. French footwear designer Arche presents a stylized collection, blending traditional craftsmanship with modern technology. BIBA bags celebrate high-quality natural leather, gaining character with use, while Oats and Rice showcase sustainably made cashmere scarves with unique textures and patterns.
ENAMEL Copenhagen, a Danish jewelry brand, captivates with its colorful enamel-centric designs. Palaria Dadariat, a Romanian hat atelier with over a century of tradition, and OMI's handmade Andalusian jewelry collection add a touch of history and originality to the showcase. La Coque Française returns with a fusion of high-tech and fashion in their innovative phone chain collection.
Scoop, renowned for uncovering emerging talent, will feature approximately 250 designers across women's fashion, luxury home, beauty, lifestyle, and men's collections at Olympia West. Radley emphasizes the show's commitment to bringing unique international offerings to the influential UK market, making Scoop a must-see on the global trade show circuit this February. Additionally, Pure London x JATC will run concurrently from the 11th to the 13th of February 2024 at Olympia.
The Renewable Carbon Initiative (RCI) has unveiled a groundbreaking report, "Carbon Footprints of Different Renewable Carbon-based Chemicals and Materials," presenting five peer-reviewed life cycle assessments (LCAs) from industry leaders Avantium, BASF, IFF, Lenzing, and Neste.
In a world grappling with "Code Red" warnings on climate change from the UN, the report becomes a pivotal guide. Focused on carbon footprints, it underscores the urgency of addressing the impact of chemical and material production on global warming, where fossil resources contribute over 70% to human-made climate change.
Amid calls for decarbonization, the RCI advocates for a strategy of defossilization for carbon-dependent industries. The report emphasizes the necessity of replacing dominant fossil feedstocks with renewable carbon alternatives, whether bio-based, CO2-based, or recycled. Crucially, this shift contributes to circularity by sourcing carbon from the atmosphere, biosphere, and technosphere, eliminating the introduction of additional fossil carbon into the carbon cycle.
The materials and products showcased in the report exhibit significantly reduced carbon footprints, ranging from 30–90%, compared to their fossil counterparts. The findings not only highlight existing competitive renewable carbon-based materials but also emphasize their potential to further slash emissions in the future.
The report's introduction encourages policymakers to consider the implications of renewable carbon-based materials on climate change, positioning the case studies as essential tools in guiding decisions toward climate and net-zero targets. A key takeaway is the report's alignment with reducing the influx of additional fossil carbon, mitigating the need for costly atmospheric removal and underground storage—a crucial step in fostering a circular economy and carbon loops.
MAS Holdings, the global apparel and textile powerhouse, has clinched top honors at the prestigious Presidential Exports Awards for both 2021/22 and 2022/23 through its subsidiaries, MAS Active Trading (Pvt) Ltd and MAS Intimates (Pvt) Ltd. The double triumph saw MAS Active, encompassing Active and KREEDA divisions, being crowned Sri Lanka's Overall Exporter of the Year for two consecutive years. This accolade, along with 16 additional awards earned collectively by MAS Active and MAS Intimates, cements the company's pivotal role in Sri Lanka's export sector.
MAS Active's exceptional performance included winning Overall Market Diversified Exporter of the Year, Best Performing Exporter in Emerging Markets, and a Merit Award in the Apparel Sector - Large Category for 2021/22. In the subsequent year, the company continued its winning streak by securing awards such as Contributor to Sustainable Development in Exports and Innovative Export Product of the Year.
MAS Intimates, during the 2021/22 cycle, showcased unparalleled excellence, securing the Overall Award for Net Foreign Exchange Earner of the Year and the Best Exporter in Product Diversification. In the following year, MAS Intimates retained its dominance, earning the Overall Award for Net Foreign Exchange Earner of the Year and recognition as a Contributor from the Regions to the Export Supply Chain.
These victories collectively underscore MAS' undisputed leadership in Sri Lanka's export landscape. As a global industry trailblazer, MAS Holdings continues to set benchmarks, contributing significantly to Sri Lanka's economic development and the global apparel industry.
The grand stage is set for the premier business fashion event of the year as the BRICS+ Fashion Summit swings open its doors to delegations from 60 countries today on November 28.
From November 28 to December 2, the inaugural BRICS+ Fashion Summit will unfold in the heart of Russia at the Moscow Concert Hall "Zaryadye" and its adjoining park, attracting delegates from diverse corners of the globe. Professionals including experts, designers, buyers, and representatives from fashion educational institutions, as well as heads of international fashion associations, will converge in Moscow, transforming the city into the epicenter of global fashion for a dynamic five-day period. Delegations will journey from Asia, Latin America, the Middle East, South-Eastern Asia, Europe, Africa, and the CIS, making this summit a truly international affair.
The Indian delegation, led by the Fashion Design Council of India (FDCI) under the guidance of Chairman Sunil Sethi, represented by Paras Bairoliya, Senior Member of the Board of Governors at FDCI, promises to be a significant participant in the BRICS+ Fashion Summit.
The BRICS+ Fashion Summit runway will showcase Indian culture under the theme "Huts to High Street," curated by Sunil Sethi. This curated showcase will be a standout feature of the summit, featuring designers such as Ritesh Kumar, Naushad Ali, Gaurav Khanijo, and Shruti Sancheti from India. Joining them will be global brands like Lucas Leao (Brazil), CHNNYU (China), David Tlale (South Africa), Alena Akhmadullina (Russia), SADAELS (Argentina), ArzuKaprol (Turkey), NIV NIV by KATSIARYNA NESTSIARUK (Belarus), OVRSƧ by JULIA MEDNIK (Belarus), and more. Together, they will present a rich tapestry of diverse designs, showcasing the cultural heritage of their respective countries.
Sanjay Chawla, Global Convener, FashionatingWorld | DFU, serves as the Country Partner/Head for the India Delegation.
The Business Program, a major highlight of the BRICS+ Fashion Summit, will host over 200 speakers, featuring influential players from the global fashion sector. This platform will address pressing issues such as international cooperation, technological innovation, entrepreneurship, sustainability, circular economy, cultural appropriation, and democratization of fashion. Notable speakers include Paras Bairoliya (FDCI), Yang Jian (China Fashion Association), Alia Khan (Islamic Fashion and Design Council), Ali Charisma (Indonesian Fashion Chamber), Mubashar Naseer Butt (Pakistan Readymade Garments Manufacturers & Exporters Association), Sienna Li (China), and others.
The B2B communication hub, the showroom in the Parking Gallery of Zaryadye, will witness the convergence of over 130 designers and 100 buyers. Brands from India, Argentina, Russia, Nigeria, Egypt, Turkey, South Africa, Serbia, and more, including David Tlale, VICTORIA ANDREYANOVA, Batakovic Belgrade, Naushad Ali, CHAPURIN, will facilitate robust connections and enduring relationships between industry professionals, designers, and buyers.
As the global fashion community eagerly waits, the BRICS+ Fashion Summit promises to be a celebration of diversity, innovation, and international collaboration, defining the future landscape of the fashion industry.
Today on Dec 27, 2023 H.E. Butti Saeed Al Ghandi, Vice-Chairman of the Dubai World Trade Centre marks the opening of the groundbreaking 'Brands of India' B2B trade show, a revolutionary initiative by the Clothing Manufacturers Association of India (CMAI) set to reshape the global apparel industry.
Supported by esteemed entities such as the Embassy of India, Dubai Chamber, TEXMAS, Dubai Textile Merchants Association, and the RGM Group, this event unfolds at the Dubai World Trade Centre, Halls 6 & 7, from November 27th to 29th, 2023.
As India's largest apparel showcase in the Middle East, 'Brands of India' gathers over 250 premier Indian apparel brands, spanning diverse categories from ethnic wear to Western and Fusion Wear across Menswear, Womenswear, and Kidswear.
Positioned as the primary destination for industry players in the MENA region, 'Brands of India' connects wholesalers, retailers, distributors, importers, and departmental chains with leading Indian apparel brands, including notable participants such as Louis Philippe, Soch, Spykar, and Gini & Jony.
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