The fourth quarter revenues of outdoor apparel, activewear, and footwear giant VF Corporation increased by 9 per cent Y-o-Y to $2.8 billion. As per a report by Front Office Sports, the brand’s full-year revenues increased by 28 per cent to $11.8 billion.
VF Corporation houses several activewear brands like Vans Supreme, JanSport, The North Face, Altra Running and Timberland. The revenues of The North Face surged by 24 per cent Y-o-Y to $800 million; those of Vans surged to $1billion. The company’s earnings were partially offset by lower than planned growth at ans. Still, five of VF Corporation’s brands, including Vans, as well as The North Face and Dickies, achieved record sales during the year. The North Face’s revenues grew by 21 per cent to $3.26 billion.
Being held from May 25-26, 2022 at the Tokyo International Forum, this year’s Premium Textile Japan 2023 Spring-Summer edition focuses on growing demand for sustainability in the textile industry in the aftermath of the COVID-19 that hit the industry in 2020.
Welcoming 71 exhibitors in 92.5 booths, the event is being organized by the Japan Fashion Week with support of the Ministry of Economy, Trade and Ministry; Organization for Small & Medium Enterprises and Regional Innovation, Japan; Japan External Trade Organization, Japan Apparel-Fashion Council, The Japan Textile Importers’ Association, Japan Textile Exporters’ Association. Highlights include the JFW Sustainability Project being held alongside the JFW Textile Salon to boost awareness in the industry.
Insights into Japanese fabrics
A Textile Workshop titled ‘Let’s Learn Japan Fabrics!’ has been organized for both days. Inspired by Terakoya meaning ‘temple school’ in Japanese, the workshop features lectures on different fabrics by industry stalwarts from major textile producing regions. It aims to provide deep insights into Japanese fabrics with lectures focusing on their sustainability aspect. Being held in a dedicated area, the lecture being held today was attended by young employees of major apparel and textile manufacturers, retailers, designers in Japan.
Transforming food residues into dyes
Another lecture for May 25 by Yoshihiro Tanimura from Toyoshima & Co. focused on the eco-friendly initiatives of the company. It delves on the process of transforming food residues into natural dyes to produce textiles. The company has established the textile brand in collaboration with food companies like Kagome Co and Sarutahiko Coffee aimed at repurposing coffee waste into dyes.
A lecture on Sustainability with synthetic fabrics and the company’s initiatives is scheduled for May 26, 2022. To be delivered by Mito Yokokawa, Fibers and Textile Marketing Department, Toray Industries, it focuses on sustainability and business development in the company’s manufacturing process using oil as raw material. It will also introduce Toray’s original brand that focuses on using recycled and partially bio-related raw materials.
Savio will be attending “ITM Istanbul 2022” exhibition, taking place in Istanbul, Turkey, from June 14-18, 2022.
Savio will be exhibiting in Istanbul solutions-oriented machinery portfolio: winding, winding for continuous shrinkage, bulking and heat setting and TFO twisting.
To decide which spinning technology is best suited to your needs, Savio offers numerous solutions to support the quality of the final yarn product.
Savio automatic winders can easily process special yarns, such as the current very demanded product like the dual core spun yarns. The Savio winding unit is equipped with clearing, splicing and tension control devices for ensuring perfect splices and perfect package shape.
Many years of experience and a close collaboration with customers have allowed Savio to offer several solutions for production of acrylic yarns. The effect of the Volufil machine process gives acrylic fibers dimensional stability, higher volume, wrinkle resistance or temperature resistance, which acquires a regular geometrical structure with excellent volume.
Savio Multicone technology and Sirius twisting machines are especially addressed to ustomers producing packages for dyeing and very fine counts, from Nm 200 and above.
Visitors of the Trenggalek Fashion Day at the Textie Musuem in Jakarta were amazed by the fashion works of Novita Hardini SE, Chairperson, Regional National Craft Council (Dekranasda), Trenggalek Regency.
Accompanying his wife in the effort to introduce MSME products, Mochamad Nur Arifin, the Regent of Trenggalek,believes, Trenggalek Fashion Day can give enthusiasm to MSME activists in the region.
The efforts of the Chairperson of the Trenggalek Regency Dekranasda in expanding the MSME market in this event are starting to be felt. Like the blusukan at Tanah Abang Market (the largest textile center in Southeast Asia) some time ago. This effort does not only get a response from traders. Just introduced, one of the traders in this market asked for 10 pieces of cloth. That night, I asked for another 20 pieces.
Even then, when it was delivered to the seller, the buyer had been waiting for 5 pieces of cloth. This was confirmed by the Head of the Trenggalek Regency Cooperatives, Micro Enterprises and UMKM Service, Agus Setiyono.
According to him, after the Head of Dekranasda made a visit to Tanah Abang Market, the Trenggalek Regent's hard work paid off immediately. Not only the merchants responded, but several pieces of Trenggalek Batik were immediately sold.
The consolidated net profit of Vardhaman Textiles increased by 29.33 per cent to Rs 322.12 crore during Q4FY’22. However, net profit declined by 24.8 per cent on a sequential basis. As per an India Infolne report, revenues increased 39.04 per cent Y-o-Y in Q4FY22 to Rs 2,707 crore on consolidated basis. On sequential basis, revenues increased 3.99 per cent during the quarter.
Revenues for full year FY22 increased by 56.7 per cent to Rs 6,622 crore. Sales from the acrylic fibre business remained flat on Y-o-Y basis while sales of the predominant textiles business grew 41.7 per cent to Rs 2,642 crore. Cash from operations grew by nine times during the quarter. The company announced a dividend of Rs 34 per share for employees.
Due to the spike in cost of raw materials, EBITDA margins for the quarter declined from 22.14 per cent to 19.88 per cent Y-o-Y. Net profit margins declined to 11.90 per cent during the quarter compared to 12.73 per cent in Q4FY21.
The unprecedented rise in raw material prices has compelled the government to order a probe into cotton arrivals in the market. Exporters have also sought long-term policy measures to control rising prices. The prices do not factor in moisture and trash conditions. Excessive moisture can cause an additional 1 per cent loss and a minimum 3 per cent in excessive trash. This leads to Rs 119,600 to Rs 121,680 loss for spinners, says K Venkatachalam, Chief Advisor, Tamil Nadu Spinning Mills’ Association.
Release of cotton in calibrated quantities is adding to their woes, he adds. He advises the government to identify where the cotton is being stopped or hoarded. Spinners have also urged the government to remove cotton from the list of commodities traded on exchanges and make it available to farmers and mills, who are the only stakeholders.
Representatives of mill associations have also urged the government to direct the Cotton Corporation of India (CCI) to buy the cotton from farmers and to sell it only to mills, even in smaller quantities. The CCI should not to sell cotton to traders and multinationals, they advise. Manifold increase in all costs has resulted in an increase in yarn prices. Due to the increase in cotton prices, the working capital of all the mills is reported to have eroded and this has also resulted in a severe financial crunch for mills in buying and stocking cotton, Venkatchalam adds.
Indonesian textile giant PT Sri Rejeki Isman (Sritex) faces the threat of delisting as the sale of its shares has been suspended for almost two years. The suspension of Sritex stock trading began when the company defaulted on its short-term debts.
Referring to Encouraging the Performance of the Textile and Textile Product Industry, the textile and textile product (TPT) industry of Indonesia has continued to experience ups and downs since the 1998 crisis. The industry had recorded growth of up to 15.35 per cent growth in 2019 after contracting in 2015 and growing low in the 2016 period.
The pandemic caused the textile industry to contract by 4.08 per cent in 2021.
However, the Ministry of Industry (Kemenperin) estimtes, textile industry contributed to exports of $ 10.63 billion in 2020. This figure only decreased slightly compared to 2019 (S$ 12.89 billion). The textile industry also still absorbs 4 million workers.
In Q1 FY22, the industry grew by 12.45 per cent Y-o-Y, says, Redma Gita Wirawasta, Secretary General, Indonesian Fiber and Filament Yarn Producers Association (APSyFI). He expects the industry to grow in the range of 5-10 per cent during the year driven n by the entry of investment after last year's groundbreaking
In April 2022, Sri Lanka’ exports of apparel and textiles increased by 22.12 percent in April to $445.79 million. In April 2021, Sri Lanka had exported apparels worth $ 799 million, as per an Economy Next report.
Sri Lanka’s overall exports grew by 11.87 per cent to $915.3 million in April 2022 from a year earlier.
In April 2022, the value of Sri Lanka’s exports topped the 2020 and 2021 April month exports, as per the Sri Lanka Export Development Board.
Exports to the US increased by 23 per cent to $84.1 million, exports to Germany were increased by 27 per cent to $66.5 million and exports to India surged by 10 per cent to $59.4 million.
Global textile innovation and apparel manufacturing business, Alphine Group has adopted the Future-Fit Business Benchmark. Aligning with the United Nations Sustainable Development Goals, the science-based strategic management tool defines the destination for businesses wishing to evaluate the initiatives needed to be undertaken for credible action towards a future-fit society.
Ashok Mahtani, Co-founder and Chairman, Alpine Group says, the tool enables them to accelerate change by bringing the rest of the industry – brands and partners alike – on this journey with them. “We do it so that our innovation and manufacturing can positively impact the entire value chain,” he says.
Lewis Shuler, Head-Innovation, Paradise Textiles, Alpine Group’s dedicated innovation hub adds, what the industry needs to make fashion fit for future is more collaboration on further solutions from all angles. “Our sustainability innovations include textile-to-textile recycling technologies and processes to minimize waste at scale” he adds.
As per an Apparel Resources report, Alpine Group’s announcement as the first textile innovation and apparel manufacturing business globally to adopt the Future-Fit Business Benchmark follows the recent launch of its Factory of the Future as part of Alex Apparels’ state-of-the-art manufacturing facilities in Egypt. Set to open in late 2022, the factory is expected to provide an additional 2,000+ jobs for the local community.
Class is discovering and promoting sustainable and innovative materials. The international eco hub is making responsible innovation travel internationally through A New Point of Materials by Lineapelle, the itinerary space imagined and constructed by Lineapelle in collaboration with Class Ecohub and Orietta Pelizzari, Global Fashion Advisor.
A New Point of Materials by Lineapelle is a new-generation, engaging and immediately accessible exhibition tool that allows all stakeholders in the fashion and luxury industry to discover and learn about the genuinely green journey of leather, textile materials and technologies.
In Milan, a new point of materials was featured inside Lineapelle, the international trade fair which has become a reference point for leather, accessories and textiles, during the time of Milan Fashion Week. Afterwards, this special initiative has been hosted by key sparkers of change in the LA scene, such as The Campus, The ArtCenter College of Design and several design studios.
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