China’s retail sales value of consumer goods was down 0.5 per cent year on year in October 2022.
Of the total, retail sales of garments, footwear, hats and knitwear were down 7.5 per cent year on year.During January 2022 to October 2022, retail sales of consumer goods were up 0.6 per cent year on year. Of the total, retail sales of garments, footwear, hats and knitwear from January 2022 to October 2022 were down 4.4 per cent year on year. In October 2022, retail sales of garment enterprises above a designated size were down 9.2 per cent year on year. From January 2022 to October 2022retail sales were down 5.5 per cent year on year.
From January 2021 to August 2021, retail sales of clothing, foot and head wear and knitted goods grew by 24.8 per cent in China.From January to August, retail sales of social consumer goods in China were up by 18.1 per cent, eight per cent higher than the same period of 2019. In August 2021, retail sales of social consumer goods saw a year-on-year growth of 2.5 per cent, three per cent higher than that of 2019. By consumption type, in August, retail sales of commodity had a year-on-year growth of 3.3 per cent.
Yarn Expo will be held in China, March 8 to 10, 2023. A comprehensive selection of sustainable textile products will be on display.
The fair will play host to exhibitors with products in multiple major yarn categories, including cashmere, cotton, fancy, linen/ramie, and wool. In addition, buyers will be able to source a host of chemical yarns and fibers, many of which are used to produce eco-friendly functional textiles.
Yarn Expo is a leading trade fair in the industry as well as the ideal platform to exchange advanced market information to promote business co-operation and meet new customers.
The global market is on the road to recovery, and industry players are eager for business-as-usual, indicated by the early signup of some key functional yarn and fiber exhibitors.Taiwan’s Everest Textile will exhibit PA56, its polyamide-substitute yarn sourced from renewable materials, low carbon polyester yarn, produced from industrial waste gas, air covering yarn, nylon 66 mechanical stretch and its thick and thin yarn series. China’s Bioserica Era will exhibit a series of antibacterial products and especially its flagship fiber, Bioserica, a bio-based mixture of PHBV and PLA primarily derived from corn starch. Once fused for spinning, the resulting antibacterial, antiviral fiber is softer, more eco-friendly, and more heat-resistant than pure PLA fiber.
Brands from Brazil will participate in Premiere Vision New York, January 17 and 18, 2023,
Première Vision is not only a showcase for Brazilian products in the North American market but is also an opportunity to put Brazil on the world’s radar as the event is present in several other countries. So the likes of Stampa Studio, Berlan, Savyon, Brand Textil and Oficiana Caramelo will exhibit their new lines full of innovation, creativity and sustainable products.
Brazil is one of the largest exporters of apparel and fashionable goods. Arab countries are some of the largest importers of apparels and textiles from Brazil. The United Arab Emirates accounts for the highest imports from Brazil, followed by Egypt, Algeria, and Morocco.
Advanced techniques used in manufacturing helps manufacturers meet the demand from various countries.Heightened interest of the government and private players in the country’s apparel and textile industry has contributed to making the country among the top textile producing countries.
Premiere Vision New York takes place twice a year, always according to the spring/summer and autumn/winter calendar. The fair is considered one of the most important in the world in terms of trends in the textile segment, focusing on fabrics, yarns, fibers, textile design and accessories. The participants are divided by textile segments, print designers, leather, accessories and inputs producers.
In a world that prefers synthetic rather than natural materials due to lower pricing and easy availability in just about anything in daily living, man-made fibres are doing well in the textile industry. Market analysts say the global synthetic fibre market was valued at $62.65 billion in 2021 and is expected to reach $89.09 billion by 2029, registering a CAGR of 4.50 per cent during the forecast period of 2022-2029.
Synthetic fibres are secured from polymers and are also called man-made fibres. They usually exhibit essential features such as strength, elasticity, lightweight, washability, softness, and cost efficiency and specific features such as wrinkle resistance, and crease recovery and are moisture resilient. The synthetic fibre market is segmented based on type and application and polyester is the most popular in making garments as it is durable and stretchable.
Polyester the most popular man-made fibre
The Global Synthetic Fibers Market research report by Pune-based Data Bridge Market Research has pointed out synthetic fibres are being utilized in weaving fabrics, narrow fabrics and felt, and finishing and fabricating fabric products which are used in manufacturing home furnishings products and apparel.
Polyester is the most popular as it has durability and versatility. Analysts felt the increase in disposable income that has helped the garment industry to thrive, particularly in the growth-centric nations is one of the major factors driving growth of synthetic fibre market. The increase in social media usage across all age groups and rural and urban areas as well as the growing acceptance of e-commerce, influencers, and the social media business has accelerated the market growth.
Along with this is increased use of textile fabric in several processes, such as knitting, crocheting and weaving among others to manufacture a versatile range of finished and semi-finished goods in segments like bedding, clothing, apparel, medical, and other accessories are all helping this expansion. Global consumption of polyester filament and staple fibre has been rising as compared to the use of pure cotton in the apparel industry mainly due to the price and durability factors.
The sales of home furnishings is set to increase even more from 2022 to 2029 with many more branded and unbranded players and retail stores entering this segment and expanding the market. Switching to man-made fibre will help apparel manufacturers get higher prices.
Bangladesh switches to more synthetic fibre export
As per studies synthetic fibre makes up 78 per cent of the world's clothing and the remaining 22% is made of cotton fibre. With Bangladesh being the hub of apparel exporters, switching to man-made fibre will help Bangladesh apparel manufacturers get higher prices.
André Wissenberg, VP of Germany-based Oerlikon Textile GmbH said at a recent seminar in Dhaka, “Bangladesh has the potential to switch to the production of synthetic fibre-based textiles and apparel to realise greater per unit values in the world market. Buyers are choosing man-made fabrics as substitutes for cotton fibre for sustainability and environmental issues. Bangladesh is the world's second-largest exporter of textile goods while Germany is the second-largest importer of products from Bangladesh. Germany and Bangladesh are therefore in close bilateral dialogue.”
Currently, Asia-Pacific countries dominate the synthetic fibre market because of the large number of manufacturers in the region. With China’s and Korea’s stakes down in the current global situation, it is time India took advantage of this opportunity to maximise domestic consumption and export figures.
Victoria’s Secret revenues for the third quarter fell nine per cent. Comparable sales for the third quarter decreased 11 per cent compared to the third quarter of 2021.International revenues were up 43 per cent.
After nearly a year and a half as an independent, publicly-traded company, the company continues to make significant progress in its transformation and mission to celebrate and champion all women. It has created a solid financial platform with a new, more agile operating structure, and even in a very challenging macroeconomic environment was able to deliver third quarter operating income and earnings per diluted share results above the previous guidance.
The strategic growth plan is to strengthen the core, ignite growth and transform the foundation. Victoria’s Secret has leadership positions in intimates and beauty and recently acquired AdoreMe, a technology-led, digitally-native intimates brand. Victoria’s Secret will leverage Adore Me’s expertise and technology to improve the customer shopping experience and accelerate the modernization of its digital platform.
Founded in 2011, US-based Adore Me is an online-only intimates brand. Victoria’s Secret is forecasting full year 2022 net sales to decrease six per cent or seven per cent compared to last year’s full year net sales.
Vietnam’s textile and apparel industry plans to be more environmental-friendly by 2030.
By 2023, the industry plans to reduce energy consumption by 15 per cent and water consumption by 20 per cent.Earlier in 2022, the EC proposed a new strategy to make textiles more durable, repairable, reusable and recyclable, to tackle fast fashion, textile waste and the destruction of unsold textiles, and ensure their production takes place in full respect of social rights.
Europe is a traditional and key market for Vietnam’s textile and footwear industries. This is an issue businesses must focus on quickly deploying if they want to exploit markets like the US or EU and other large markets. This will also help businesses develop sustainably and reduce production costs. The industry’s businesses have carried out many greening activities, such as replacing electric boilers, using rooftop solar power, and reusing wastewater.
In the first ten months of 2022 the export value of the country’s textile and garment industry was up 17 per cent. This was due to Vietnam’s participation in free trade agreements. These helped Vietnam diversify export markets.In addition, textile and garment industry enterprises are accelerating digital transformation in management and supply chain and catching up with the trend of greening and sustainable development by producing new yarn from hemp and wool.
Shein is the world’s most popular fashion brand. So says price comparison site.
Shein is the most searched fashion brand globally, topping searches across 113 countries. Shein is the largest online-only retailer in the world, producing between 35,000 and 1,00,000 new garments a day. The fast fashion giant is followed by Zara, which took the top spot in 2021, demonstrating Shein’s meteoric rise in popularity over the last 12 months. Finishing in third place is the German retailer Zalando, which is a non-mover since last year. Hugo Boss, Michael Kors and Puma are new entries in the list, with each brand landing at the top spot in one country each.
However, luxury brands failed to land in the top five for a second year running with Shein, Zara, Zalando, Nike and Adidas proving to be the most popular labels. Next is the most-searched fashion label in the UK.
Shein is a Chinese brand founded in 2008. The Chinese e-commerce store has exploded in popularity, and its fast-rate production has made rivals unable to keep up.While the clothing retailer has steadily fed the appetite for super trendy, budget-friendly threads, the true cost of the fast-fashion giant has led activists to criticize its business model and call for change.
Forever 21 is a celebrating a year on Roblox. Since its launch on Roblox last year, Forever 21 has pushed boundaries, becoming the first and largest retailer to make on-trend virtual fashion accessible.
The brand will offer a product range based on a virtual collection that already exists on Forever 21 Shop City. The collection is called F21 Metaverse Collection and includes a variety of hoodies, T-shirts and other accessories Forever 21
Shop City is designed to allow Roblox users, fashion influencers and creative designers to own and manage their own stores. Additionally, in preparation for the holiday season, Forever 21 Shop City will launch a limited-edition product line in December that will offer one item each day for 24 hours.
These products will be sold both offline and online.In the realm of the metaverse, which millennials are still discovering, GenZ seems to be winning the race in product discovery and has already begun to enjoy digital fashion. GenZ is particularly interested in and appreciates the virtual world of fashion and now when such brands launch physical collections, the visibility is a sure shot way to rise with the increase in revenue along with product accessibility irrespective of users present on the virtual platform or not.
The value addition in Bangladesh’s garment exports decreased in the first quarter of the current fiscal year. The value dropped due to the increase in prices of raw materials in the global market.
The United States, Germany, United Kingdom, Spain, France, Netherlands, Italy, Canada, and Belgium were the top destinations for Bangladesh’s readymade garment exports during the quarter. Bangladesh’s earnings from these nine countries accounted for 72 per cent of the country’s total readymade garment exports.However, export earnings from these nine countries decreased by nine percent as compared to that of the previous quarter but were 12 per cent higher than that of the corresponding quarter of the preceding fiscal year.
Moreover, the total export earnings of Bangladesh from the garment sector in the quarter outperformed that of the previous year’s corresponding quarter and the quarterly target. Bangladesh has undertaken a number of initiatives to ease the manufacture and export of readymade garments. Pre-shipment credit, incentives for export expansion, and incentives for export expansion are some significant actions made to increase production and export.
At the same time, Bangladesh should also put priority on the diversification of manmade fibers and global technical textile markets as they fetch higher profits than cotton items.
Reselling platforms are giving clothes a new life. So says Savoo. Among these platforms are Depop, eBay, Asos Marketplace and Vestiaire Collective.
Zara, Nike and Adidas are among Europe’s most sought-after brands for pre-loved clothing.The number of pre-owned Zara items being sold on Depop alone has reached 439,696. Nike comes in second, with 7,447 listings currently active on the Asos marketplace. Adidas has a total of 467,022 listings across the four different marketplaces. H&M has the next most lively resellers market, with 238,677 items listed on Depop making it the app’s fifth most popular second-hand brand. Lingerie brand Victoria’s Secret follows in fifth place, with 340,000 listing on eBay.
Finland is the country most interested in pre-owned brands and clothing. The UK ranks in sixth place overall as Europe’s most sustainable shoppers, despite being home to nearly 68 million people.The importance of being sustainable is rising as shoppers have become more aware of their ecological footprint. From food waste to buying secondhand clothes, consumers are not only more conscious of protecting the environment they live in, but are also looking at ways to save money with sustainable practices in light of the cost of living crisis.
Shoppers are making more of an effort to become more environmental-friendly while still looking fashionable, and wasting less at the same time.
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