In the recent past, you have wished and been wished a happy new year. When was the last time someone wished you happy new product? In case you have to stretch your memory about your last new product launch, chances are your products are dated! Let’s take a sock manufacturer as an example. Say, they have been happy with their business as the local market they have been supplying to has been kind to them. Business is steady and profits are healthy. They are unlikely to innovate, presumably somewhat oblivious that they are indeed part of the booming worldwide socks market. As retailers and e-tailers look for fresh new products to woo their customers, this sock manufacturer is likely to take a back seat. On the global scene, the socks market is one of the fastest growing segments of the apparel industry with a compound annual growth rate of 8.5% at present. By 2023, the global socks market is estimated to be worth around the $11.6 billion mark. Specialty socks, athletic s... Read more
Pinakin Chaubal holds Master’s degrees in Management and Textile Engineering. He has been a long time assessor for NATA ISO 17025 laboratory accreditation and has contributed to the review and drafting of several Australian, Joint Australian / New Zealand and International Standards on textiles, clothing and footwear. Global brands like H&M, Zara and most others are getting settled in India at an unprecedented rate. In fact, it’s more a case of who hasn’t entered the zoo, rather than who has. Global selling platforms like amazon.com have been successfully wooing Indian suppliers. Historically price sensitive apparel products like inner ware are moving to brand sensitive categories in the minds of local consumers. Now where does all this leave your product? At the centre stage! In this competitive market, if your product does not take the centre-stage, it will lag, struggle for a while and may eventually suffer from severe competitive arrest. Brand ma... Read more
Though the pandemic affected the entire fashion sector, its impact on workers was massive. Halting of thousands in-progress or finished... Read more
The unlocking of Indian economy has helped revive demand for MMF fibers in the country. As a report by Textile... Read more
As per Comtrade figures, till 2017 India was the world’s second largest exporter of textiles and clothing after China. However,... Read more
Bangladesh is set to be the global recycling hub as fast-fashion brands like H&M and Target have collaborated to launch... Read more
The pandemic saw India emerge as the world’s second largest manufacturer of PPE kits, after China. The textile ministry encouraged... Read more
Even in an ultra-tough market, the digital world is helping fashion sector connect with customers, says Mark Sinnock, Chief Strategy... Read more
COVID-19 has reemphasized the importance of quality, especially while buying FMCG products. Earlier, Indian consumers let discounts determine most of... Read more
The British fashion industry is facing its toughest times as noted designers including JW Anderson, Erdem and Christopher Kane have... Read more
After a challenging era, when its annual revenue shrunk $2bilion in the eight years since its acquisition, Adidas has finally... Read more
Recent deals like online fashion brand Boohoo purchasing UK retailer Debenhams for £55 million and Asos buying Arcadia brands for... Read more