In the next cotton cycle, shipments from Brazil are expected to reach 1.74 million tons. From August 2021 to April 2022, the country exported 1.58 million tons of cotton. To increase its cotton production capacity, Brazil has launched Cotton Brazil, an international market development program to promote agricultural sustainability.
The program has striven to develop appropriate agricultural practices through research and innovation over the past two decades and ensuring sustainable cotton cultivation, says Marcelo Duarte, Director - International Relations, The Brazilian Cotton Growers Association (ABRAPA). The Indonesian textile industry, which imports 41 per cent cotton from Brazil, is seen to have positive growth potential. This will be improved in the future by utilizing sustainable raw materials.
Especially for Indonesia, Cotton Brazil plans to launch a Seller Mission in the fourth quarter, which will allow it to forge stronger partnerships with companies across the industry value chain, explains Marcelo.
The pandemic has fuelled US consumers’ love for pre-owned fashion. A report by resale clothing website ThredUp, shows, in 2020, the pandemic year, around thirty-three million consumers in the country bought secondhand apparel for the first time. Around 76 per cent of these first-time buyers plan to increase their spending on secondhand clothing in the next five years. The secondhand apparel market in the US is projected to double to $77 billion in the next five years. Analytics company GlobalData, also pegs the growth of clothing resale market to be 11 times faster than the broader retail clothing sector through 2025. Mapped by online resale pioneer eBay, Tirath Kamdar, General Manager-Luxury, opines, growth has accelerated as more consumers are becoming eco-conscious. It is also being driven by the increase in luxury shoppers, he adds.
Thrift modernization boosts resale market
Consumers’ attitudes towards secondhand shopping are changing swiftly, adds Erin Wallace, Vice President- Integrated Marketing, ThredUp. This is attributed to the rise of online resale and the associated modernization of thrift. Also, lack of stigma attached to thrift shopping by the younger generation further fuels this transformation, he adds.
Sarah Davis, Founder, CCO, and President, Fashionphile, asserts, as against earlier, buying resale has now become a bragging right. With the resale market heating up, battle for buyers and sellers is also ensuing. Alongwith markplaces like Poshmark, eBay and consignment sites like the RealReal, global fashion brands brands Levi’s and Coach have also joined the race to grab a share of the online resale market.
In March, consignment site Vestaire Collective bought Tradesy for an undisclosed sum. Etsy purchased its competitor Depop in 2021 for $1.6 billion. Poshmark plans to venture into international markets including Canada, Australia, and India as part of its growth strategy while ebay is adding new features to attract buyers and sellers:
Online resellers plan physical expansion
Meanwhile, online resellers are also setting up brick-and-mortar presence to boost sales. Fashionphile has set up 10 store-in-stores with Neiman Marcus to sell luxury items directly to customers. ThredUp, is offering its Resale-as-a-Service (RaaS) to Walmart, Adidas, Target etc, to engage in resale on their own sites.
Owned by URBN, the parent to Urban Outfitters, Nuuly, is helping customers extend the lifestyle of their garments, adds Kim Gallagher, Director - Marketing and Customer Success.
Resale brands struggle with dwindling bottomline
Having ignored fashion resale initially, many brands are digging their heels into it. An example is accessories brand Dagne Dover, which launched its resale website Almost Vintage in mid-2021. Though currently a small part of its overall business, the platform looks to soon onboard bigger brands, says Deepa Gandhi, Co-Founder and COO. It also plans to become an unofficial requirement for brands ESG, she claims.
However, despite a growing number of companies foraying into this space, it is becoming extremely difficult for companies to scale up resale businesses. RealReal registered a $236 net loss in 2021. The company does not hope to make profits till 2024. ThredUp also reported a net loss of $63.2 million just as Poshmark which showed a loss in recent quarter. To be successful in the long run, these companies will need to formulate a strong differentiation strategy, asserts Tim Ceci, Principal Consultant-Retail and Consumer, Point B.
Section 301 penalty tariffs on finished Chinese textile and apparel imports give American manufacturers a chance to compete and provide trade officials with an essential trade negotiation tool, said the National Council of Textile Organizations (NCTO)
Klim Glas, President and CEO, outlined a few key points in a written testimony submitted to the US International Trade Commission during three days of hearings on the economic impact of Section 301 China tariffs and Section 232 steel tariffs on U.S. industries.
The 301 penalty tariffs should be maintained absent substantive improvements in China’s pervasive, predatory trade practices, Glas said in her testimony. China’s illegal actions have put U.S. companies at a serious disadvantage, and tariffs give American manufacturers a chance to compete. Glas noted that U.S. trade officials have “stressed that the penalty tariffs also create leverage and are a ‘significant tool’ in ongoing negotiations with China.
While some advocates for lifting the tariffs point to concerns about inflation, Glas said, “canceling these penalty duties would do little to ease Americans’ inflationary pains.” She also noted that “apparel prices out of China continue to hit rock bottom even with the Section 301 tariffs in place. As detailed in an economic study recently released by Werner International, U.S. import prices for apparel from China have dropped 25 percent since 2019 and 50 percent since 2011.”
Glas also warned that lifting the tariffs would have “a substantial negative ripple effect” on U.S. free-trade agreements, including undermining those with Western Hemisphere partners that have established shorter coproduction supply chains and serve other U.S. and regional interests.
Over 1,300 independent sourcing experts in the fashion, textiles and fabrics categories have been onboarded by Hong Kong-based B2B tech-enabled global sourcing platform, BuyHive.
These experts are said to be based in major sourcing destinations across Asia and around the world.
According to BuyHive, its ‘Expert Sourcing Network’ platform has attracted maximum independent sourcing experts from major sourcing hubs like India, Hong Kong, Indonesia, Bangladesh, Mainland China, Cambodia, Thailand, Vietnam and the USA.
All sourcing experts on the platform are selected after a stringent screening process to ensure they can meet the high standards of global fashion buyers.
A majority of the 1,300 fashion sourcing experts have worked with prominent international fashion or apparel brands, including Calvin Klein, Michael Kors, Burberry, Tommy Hilfiger, GAP, Levi’s, PUMA, etc
The Spring/Summer 23 edition of contemporary and premium fashion show Scoop ended on a successful note. Located at Olympia West from July 17-19, 2022, the show offered an exclusive edit of over 250 contemporary womenswear, menswear, accessory and lifestyle collections expertly curated by the show’s Creative Director and Founder, Karen Radley.
The space was bustling with buyers from across the country including buying teams from Matches, Anthropologie, Browns, John Lewis, Fortnum & Mason, as well as a host of independent boutiques from across the UK including The Mercantile, Cavells, Precious, Hetre, Daniels, Javelin and many more.
The show celebrated an impressive line-up of designers and new faces including premium women’s and menswear collections from & ME Unlimited, 0711 Tbilisi, A.Kjærbede, Absolut Cashmere, Aligne, Arche, Aspiga, Azurée, Beatrice B, Bird Sunglasses, Brgn Men, Brgn Women, Bruuns Bazaar, By Malina, Conditions Apply, D.A.T.E, Dea Kudibal, Devotion Twins, Electric + Rose, Elie Saab Silks, Emily Lovelock, Enamel Copenhagen, Fillyboo, Folklore, Frnch, Hutch, Jessica Russell Flint Lingerie, Jessica Russell Flint Rtw, Joseph Ribkoff, Khaiden, Knowledgecotton Apparel Mens, Laidback London, Mos Mosh M/W, Mos Mosh W/W, Mud Jeans, My Sleeping Gypsy, Narratives The Line, Norr Copenhagen, Primrose Park, Redefine, Rose & Rose, Sacre Coeur, Simone Bruns, Stripe & Stare, Sundress, Tandem, Tinsels, Transit, Twinset, West Seventy Nine, etc.
Worldwide market leader in sustainable, on-demand digital fashionx and textile production technologies, Kornit Digital has set up an interactive booth at one of the world’s largest virtual printing tradeshows – Printing Expo Online 2022. The exhibit offers all the benefits of a physical tradeshow, but with convenient, online access any time.
Tailored to meet the demands of evolving businesses, the show is open 24-7-365 days a year – and has welcomed over 60,000 global visitors since November 2020. Kornit’s virtual exhibit is fully aligned with customer requests for a more flexible tradeshow experience – allowing participation at their convenience.
The multi-story showroom makes it possible to self-navigate across Kornit’s game changing single-step, digital direct-to-garment (DTG) and direct-to-fabric (DTF) solutions – unlocking new possibilities for on demand, sustainable digital fashion and textile production. Solutions on display include Kornit Atlas Max, the newly introduced Kornit Atlas Max Poly, Kornit Presto Max and KornitX Workflow offering.
Fashion retail giant H&M is shutting down its business operations in Russia to exit from the brands.
H&M’s decision to leave Russia comes four-and-half months after it suspended its retail operations in the country.
Helena Helmersson, CEO, says, it has become impossible for the company to continue operations in Russia due to the “current situation.”
As part of its exit plan, H&M will temporarily reopen stores in Russia to sell off all remaining inventory.
Shutting down operations in Russia will cost the company 2 billion Swedish Krona ($191 million) and have a 1 billion Swedish Krona ($96 million) impact on the company’s cash flow.
H&M joins a growing list of major global brands that have halted or shut their businesses in Russia since its invasion of Ukraine, which was followed by a multitude of economic sanctions from the West. Last month, Nike announced plans to exit the Russian market, three months after suspending retail operations. Among other fashion and apparel brands, Spain’s Inditex—the owner of H&M rival Zara—told shareholders last week that it was monitoring the situation in Russia where its stores remain temporarily closed.” In March, Uniqlo’s parent company, Fast Retailing, also halted sales in the country citing “a number of difficulties
Once high-flying Hong Kong fashion retailer before it tumbled into years of losses, Esprit Holdings is planning a comeback in Asia, turning away from a fast-fashion strategy where it failed to compete with brands such as Zara and H&M.
The company is now focusing on better-quality clothing that is more expensive than fast fashion apparel but more sustainable, says William Pak, CEO. It also set up uplo 56 stores in Asia in early 2020 amid coronavirus-induced lockdowns.
A pop-up store opened in Seoul in April, and a flagship outlet in Hong Kong’s Causeway Bay shopping centre is set to open next month.
While the focus will remain on e-commerce, the company wants to have at least one signature store in vital Asian markets where it also has an online presence.
It has launched online platforms in South Korea, Hong Kong, Taiwan and the Philippines, and plans to expand into mainland China, Singapore and Thailand by the end of the year.
Dr Gohar Ejaz, Patron in Chief, All Pakistan Textile Mills Association (APTMA) indicated, the Pakistan Textile Industry is expecting a notable increase in exports during FY23 with a growth rate above 20 per cent given that the Government continues with the Policy of ‘Regionally Competitive Energy Tariffs’ for exports.
Textile Industry has posted record exports of $4 billion in FY22 with its expansion and investment plans of about $5 billion under LTFF and TERF schemes – YOY growth of 25 percent up till June 30, 2022.
Earlier, APTMA stated that the growth was only possible due to the supply of energy at regionally competitive tariffs. Currently, textile is the only sector that continues to grow and bring foreign exchange to the country, gearing up to close at $20 billion in June 2022 compared to $15.4 billion in June 2021.
In addition, Pakistan Textile Industry plans to import 6 million bales of cotton this year from the US and Brazil. Pakistan’s cotton imports are on the rise again. After importing just 3.1 million bales of 170 kg during the first nine months, over 1.1 million bales made their way through ports of entry during April and May 2022.
In April, APTMA reported that the overall cotton area in this decade has declined by 33 per cent from 2.9 million hectare to 1.9 million hectare. Almost 1.5 million farmers grow cotton out of which 75 per cent is grown in Punjab while the rest is grown in Sindh, while the cotton area in Punjab has decreased by 50 per cent from 2.53 million hectare(2012) to 1.28 million hectare (2022).
Knitted and non-knitted apparel and clothing accessories (HS code 61 and 62) exports by Cambodia surged by 39.36 per cent to $4,510.104 million during January-June 2022, shows trade e data released by Cambodian General Department of Customs and Excise
The exports of Cambodia’s knitted apparel and clothing accessories (HS code 61) increased by 39.3 per cent to $3,157 million during the first half of this year, while the export of non-knitted apparel and clothing (HS Code 62) surged by 39.4 per cent to $1,352.481 million. The export of other made ups textile articles (HS code 63) increased by 0.7 per cent to $95.860 million in January-June 2022 compared to $95.147 million in the first half of last year.
In June 2022, Cambodia’s export of knitted and non-knitted apparel and clothing accessories increased by 40.51 per cent to $867.985 million, as against exports of $617.92 million in June 2021. Exports of knitted apparel and clothing accessories rose 35.7 per cent to $646.458 million during the month, while the export of non-knitted apparel and clothing increased 56.7 per cent to $221.527 million.
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