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The Indian government has recently announced the extension of the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme for an additional nine months until June 30, 2024. This scheme offers exporters of 18 products, including items like sarees and lungis, a refund for the duties and taxes they incur. 

The primary objective of the RoDTEP scheme is to enhance the competitiveness of Indian exports in the global market.

The Ministry of Commerce and Industry has expressed that the RoDTEP extension would empower exporters to negotiate more favorable terms for their export contracts, given the prevailing international circumstances. The scheme fully complies with WTO regulations and operates through an IT-based system.

The government has also reconstituted the RoDTEP Committee within the Department of Revenue. This committee will be responsible for reviewing and recommending ceiling rates for different export sectors covered by the scheme. 

The Committee recently held its inaugural meeting in New Delhi, collaborating with Export Promotion Councils (EPCs) and Chambers of Commerce. They discussed various aspects of the scheme and its implementation, including methodologies.

During these discussions, the EPCs emphasized the necessity of increasing the budget allocation for RoDTEP and providing higher rates for all export items. This, they argued, would help exporters navigate the challenges posed by rising input costs and global competition. Furthermore, they requested timely notifications of RoDTEP rates for all sectors and a simplified claims process.

The Committee assured the EPCs that their suggestions would be taken into serious consideration, and they pledged to expedite their work accordingly.

The extension of the RoDTEP scheme and the government's commitment to supporting exporters are welcome developments. The scheme is expected to play a vital role in boosting India's exports and enhancing the country's global competitiveness.

 

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The Global Black Impact Summit 2023 is gearing up to be an extraordinary event, with a significant news angle in the form of a prominent speaker announcement. Jefferson Osei, the Co-Founder, Director, and CEO of Amsterdam-based fashion brand Daily Paper, will take the stage at the prestigious summit. Under the theme, 'Black Excellence: Unveiling the Untapped Potential,' this summit is scheduled to unfold in Dubai from November 31 to December 1, 2023.

Osei's participation is a testament to his remarkable accomplishments in the fashion industry, where Daily Paper has taken inspiration from Africa's diverse cultural heritage to create a global brand. The brand, founded by Osei, Hussein Suleiman, and Abderrahmane Trabsini, celebrates the African diaspora through its unique blend of Somali, Moroccan, and Ghanaian influences.

Daily Paper's commitment to sustainability and ethical production further enhances its reputation. Their recently unveiled Fall/Winter 2023 collection, designed in collaboration with African artists, exemplifies their fusion of cultural references and modern design, making them a beacon of innovation in the fashion world.

This summit promises to be a platform for unveiling the immense potential within the Black community. Organized by Energy Capital & Power, it aims to celebrate Black achievements, promote excellence, and explore untapped potential across various fields. Attendees can anticipate thought-provoking discussions and networking opportunities, offering the chance to empower themselves and reach new heights.

 

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Kering, the global luxury group that manages an array of prestigious fashion houses, including Alexander McQueen, has just announced a significant change in leadership. Seán McGirr, previously Head of Ready-to-Wear at JW Anderson, has been appointed as the new Creative Director of Alexander McQueen.

McGirr's career has been marked by a series of notable achievements, including his work at JW Anderson, where he initially led the men's collections before taking on women's wear as well. His experience also includes a stint as Women's Designer for Dries Van Noten in Antwerp and time spent at Uniqlo's creative offices in Tokyo and Paris, guided by Christophe Lemaire. He began his fashion journey with roles at Burberry and Vogue Hommes Japan.

Gianfilippo Testa, CEO of Alexander McQueen, expressed his excitement about McGirr's appointment, emphasizing that his experience, personality, and creative energy will infuse the brand with a potent creative vision while respecting its unique heritage.

François-Henri Pinault, Chairman and CEO of Kering, shared his enthusiasm for the future of Alexander McQueen under McGirr's direction, emphasizing the brand's significance within the Kering portfolio.

Alexander McQueen, known for its uncompromising creativity and individuality, looks set to embark on a new creative journey with Seán McGirr at the helm, promising an exciting chapter in the brand's history.

 

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HMs posts good revenue growth in first nine months Western Europe

 

Hennes & Mauritz’s (H&M) latest nine-month performance report card spanning December 1, 2022 to August 31, 2023 shows the group’s net sales in Swedish Krona increased by 8 per cent to SEK 1,73,385 million. In local currencies, net sales were flat compared to previous year. Gross profit increased to SEK 87,239 million which corresponds to a gross margin of 50.3 per cent. Selling and administrative expenses amounted to SEK 78,016 million and in local currencies, these expenses decreased by 3 per cent. Operating profit increased to SEK 10,205 million corresponding to an operating margin of 5.9 per cent. In 2022 one-time costs for Russia of SEK 1,751 million were charged against the nine-month result. Adjusted for these one-time costs the increase compared with the previous year was 26 per cent. Post-tax revenue is up 61 per cent to SEK 7,147 million. 

Western Europe remains largest market 

The report shows H&M’s unquestioned largest market remains within Western Europe with sales at SEK 57,723 million followed by the combined Americas at SEK 39,818 million. Asia, Oceania and Africa contributed SEK 23,074 million in sales. 

Within Europe, Eastern Europe fared the lowest at SEK 14,093 million.  Sales were temporarily resumed in Russia from August until November 2022. Development in Eastern Europe should be seen in light of H&M group’s operations in Russia and Belarus which completely closed down since November 30, 2022, while operations in Ukraine paused since end of February 2022. Excluding Russia, Belarus and Ukraine, sales in Eastern Europe for the first nine months, increased 17 percent in SEK. Sales during September 2023 are expected to decrease by 10 per cent in local currencies compared to September 2022. 

The discontinued operations in Russia account for 4 percent points of the decrease. The figure for September should be seen in the light of unusually hot weather in several of the company’s European markets, which has had a substantial negative impact on sales during the month. H&M plans to gradually reopen most of its stores in Ukraine from November 2023 onwards. H&M clocked SEK 22,723 million and SEK 15, 954 million in these nine months in Southern Europe and the Nordic countries respectively. 

Customers a priority over profits

Speaking on the results CEO Helena Helmersson says, “In times of high inflation where household living costs continue rising significantly, it is more important than ever to offer customers the best price and unbeatable value for money. Our highest priority remains the customer offering, where work to improve the assortment and the customer experience is making progress, alongside further integration of the two channels.” H&M is continuing investments in tech, AI and the supply chain, which is enabling improved flexibility, faster response times and greater precision in buying. This leads to customers having access to an even wider and more relevant assortment. 

She also emphasized their efforts to create conditions for profitable growth towards long-term goals is taking H&M in the right direction. “The cost and efficiency programme is proceeding at full speed and will continue to have an effect in the coming quarters. With a strong customer focus, improved cash flow and increased inventory efficiency our goal of an operating margin of 10 per cent during 2024 remains.”

 

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In a groundbreaking kick-off meeting hosted by Mango, Euratex, and 20 pioneering members, ReHubs Europe has officially unveiled its mission to transform textile recycling on an international scale. After three years of meticulous preparation, backed by a comprehensive Techno-Economic Study, this non-profit organization is set to propel Europe into a sustainable textile future.

The news angle here is the emergence of ReHubs Europe as a powerful response to upcoming EU legislation mandating the collection and sorting of textile waste by 2025. To meet this ambitious target, the organization aims to unite key stakeholders from the entire textile value chain, including manufacturers, fashion brands, collectors, recyclers, chemical industry, and technology providers. Their joint ambition is nothing short of recycling 2.5 million tons of textile waste by 2030, necessitating up to 250 industrial projects throughout Europe focused on various forms of fiber-to-fiber recycling.

Heading this transformative initiative as Executive Director is Chris Deloof, a seasoned textile sector professional and advocate for cross-industry collaboration. ReHubs Europe's mission aligns seamlessly with Deloof's commitment to driving the transition towards a circular economy.

Euratex President Alberto Paccanelli lauded the launch of ReHubs Europe, emphasizing the unity of the textile value chain segments in this endeavor. The organization, based in Brussels and closely partnering with EURATEX, invites companies keen on investing in European textile waste recycling to join its ranks. In a challenging global landscape, ReHubs Europe stands as a beacon of sustainability, ushering in a new circular business model for the textile industry.

 

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September 25, 2023, the Orchid Hotel in Mumbai hosted the 13th Annual General Meeting (AGM) of the Indian Technical Textile Association (ITTA), a landmark event for the technical textile sector in India. The meeting was chaired by Amit Agarwal, and S. P. Verma, Addl. Textile Commissioner & Secretary- Textile Committee, Ministry of Textiles (MoT), Government of India, graced the occasion as the Chief Guest.

Verma praised the industry’s potential for growth and innovation and acknowledged ITTA’s role in facilitating industry dialogue and fostering R&D partnerships to tackle industry issues. 

He urged the industry to invest in technical textiles and pursue new R&D projects under the National Technical Textile Mission (NTTM), assuring full backing from the textile ministry. He also emphasized the need to simplify export procedures for better competitiveness and pointed out opportunities for joint ventures and innovations in the sector.

The event also honored Yogesh Kusumgar, the “Father of Technical Textiles,” with the Lifetime Achievement Award in the Technical Textile Industry for his outstanding contributions to the sector.

The AGM also witnessed the formation of a new ITTA Board, with Avinash Misar as Chairman and Shri. Mahesh Kudav as Vice Chairman. Amit Agarwal continues to be an ex-member of the Board, providing guidance along with Dr. Sundararaman K. S.

ITTA also appreciated the government schemes such as the Production Linked Incentive (PLI) Scheme

 

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Tim Hortons, the iconic Canadian coffee and donut chain, has achieved a milestone of over 300 stores in the Gulf Cooperation Council (GCC) and India. This expansion is a testament to the brand's growing popularity in the region, as it continues to foster deep ties with communities and set new benchmarks in service excellence.

Brewing Success Across the Region

Neeraj Teckchandani, CEO of Apparel Group, the master franchisee for Tim Hortons in the GCC and India, commented, "This achievement is a matter of great pride for us, and it reflects the deep bond that Tim Hortons shares with its customers. We are committed to further expanding our presence in the region and providing our customers with an unparalleled coffee and dining experience."

In India, Tim Hortons has been well-received by customers, with a growing store count of 22 outlets across Delhi NCR, Punjab, Mumbai, and Bangalore. The brand has also introduced delightful culinary additions to its menu, such as the Malabari Ghee Roast Paneer Pocket and the Pepper Chicken Pocket, tailored to the Indian palate.

Tim Hortons plans to further expand its presence in India in the cities of Bangalore and Pune, while continuing its growth trajectory in North India and Mumbai.

In the GCC, Tim Hortons has a robust presence of 285 outlets across UAE, KSA, Oman, Bahrain, Qatar, and Kuwait. The brand is known for its unwavering commitment to quality, consistency, and community connection in the region.

Tim Hortons' success in the GCC and India is a testament to its global appeal and its ability to adapt to local cultures and tastes. The brand is well-positioned for continued growth in these regions, as it continues to brew success and bring people together over coffee.

 

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The Alliance of Textile Chemical Recyclers (ACTR) is a working group created by Accelerating Circularity, a non-profit organization dedicated to creating new supply chains and business models to turn textile waste into mainstream raw materials. 

The ACTR aims to advance textile chemical recycling technology, share common definitions, and address policies in a collaborative way to maximize the elimination of textile waste to landfills and incineration.

Chemical recycling technology has many benefits, including quality more similar to virgin fiber and the ability to recycle multiple times. 

The ACTR plans to provide the industry with information on how textile chemical recycling can offer solutions for diverting textile waste to landfill, enable textile to textile recycling versus incineration/landfill, provide sustainably sourced/circular materials, support brand/retailers/producers in achieving their CO2 reduction targets, and provide long term price stability and consistent supply of raw materials versus virgin.

Members of the ACTR include founding members Eastman, Lenzing, and The LYCRA Company, as well as key innovators Circ®, Sappi, Renewcell, Infinited fiber, Worn Again Technologies, Gr3n, CuRe Technology, and OnceMore® from Sodra.

As a first step, the ACTR is introducing a dictionary of common terms developed to educate the industry on the chemical recycling of textiles.

The ACTR is a welcome development for the textile industry, as it has the potential to accelerate the adoption of chemical recycling technology and help to create a more circular economy for textiles.

 

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ECOSENSOR™, a Japanese fabric producer and a division of Asahi Kasei Advance, will unveil three special features at Performance Days, an esteemed international technical textile show in Munich.

PFC-FREE Super DWR Fabric: Next-Level Water Resistance

ECOSENSOR™'s cutting-edge PFC-FREE Super DWR fabric matches the highest standards for durability and water repellency, surpassing the performance of conventional C0 fabric treatments. It has achieved an outstanding Rate 4 result for water resistance using the Bundesmann Method, even under more challenging test conditions than the standard spray test.

Lightweight 3-Layer Fabric: Combining Performance and Sustainability

ECOSENSOR™'s lightweight 3-layer fabric is a remarkable breakthrough in waterproof and breathable solutions. Crafted with a 12d face fabric, a 7μ membrane, and a 12d recycled polyamide tricot backer, this fabric delivers top-notch performance while also demonstrating the brand's dedication to sustainability. Bemberg™ Knitted Fabrics: A Circular Economy Approach

ECOSENSOR™'s range of knitted fabrics made with Bemberg™ showcases the brand's unwavering commitment to sustainability and circular economy. Bemberg™ is a cellulosic fiber derived from cotton linters that is both innovative and responsible

"We are delighted to showcase our latest advancements in technical textiles at Performance Days," said Yuji Ishidate, Manager of Marketing Division at ECOSENSOR™. "Our PFC-FREE Super DWR fabric and lightweight 3-layer fabric embody our solid commitment to innovation and sustainability."

 

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In a groundbreaking move set to revolutionize the fashion industry, the inaugural Pure London x JATC show, named 'The London Festival of Fashion,' is scheduled to take place from February 11th to 13th, 2024, at the iconic Olympia London venue. This event promises to be a dynamic gathering of global fashion designers, brands, buyers, creative minds, and educational seminars, redefining the fashion buying experience.

The London Festival of Fashion aims to unite the fashion world under one roof, with a focus on sustainability. It strives to provide a platform for conscious exhibitors, fostering awareness about environmental and social impact issues within the fashion industry.

The event will feature nine distinct destinations, with "Woman" being the largest. Here, buyers can explore a wide spectrum of styles, from athleisure to luxury, occasionwear to lingerie, brought to life by established and emerging designers. Additionally, the "POP" sector, inspired by pop culture, will showcase alternative, gender-fluid collections and tech-infused pieces, encouraging self-expression without limits.

One of the show's highlights is its unwavering commitment to sustainability. The "Sustainable" destination will return, featuring exhibitors dedicated to reducing their environmental footprint and promoting ethical fashion practices. This initiative aligns with the United Nations Sustainable Development Goals (SDGs) and reflects the industry's push for a more sustainable future.

Gloria Sandrucci, Pure London Event Director, expressed excitement about the show's potential, emphasizing the diverse range of women's fashion it will present.

The London Festival of Fashion will also include destinations for menswear, footwear, accessories, jewelry, lifestyle, and beauty, ensuring a comprehensive experience for buyers.

Juls Dawson, Creative Director of JATC, highlighted the event's significance, offering over 300 brands across various destinations for a cohesive, streamlined experience.

In tandem, Scoop International will also be held at Olympia West from February 11th to 13th, 2024, adding another dimension to London's fashion scene. This combined showcase promises to redefine fashion buying and sustainability in the industry.

 

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