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Year 2022 will be one of the best years for luxury fashion, say analysts

Year 2022 will be one of the best years for luxury fashion, say analysts

   Pandemic-led supply chain disruptions have caused product shortages across the fashion industry. Luxury fashion; especially, has been a key sufferer of this, says the annual report, ‘The State of Fashion,’ by Business of Fashion and McKinsey. Supply chain disruptions have affected around... Read more

Profits of large and mid-scale spinners to reach all-time high in FY2022: I…

Profits of large and mid-scale spinners to reach all-time high in FY2022: ICRA

  Good days lie ahead for large and mid-scale spinning companies with their profits expected to reach all-time high in FY2022. Revenues of these companies are expected to grow in double digits while operating margins are expected to enhance by 400-600 bps as per an ICRA report. Strong demand and realization... Read more

Australia’s growing textile waste demands urgent action from companies, pol…

Australia’s growing textile waste demands urgent action from companies, policymakers

  The second highest consumer of textiles per person in the world, Australia discards around 23 kg textiles into landfills every year. A large part of this waste comprises non-renewable, synthetic materials that cannot be recycled. This waste is not regulated at the federal levels and requires a shift to a ... Read more

Cambodia’s garment and footwear exports surge in 2021: GMAC

Cambodia’s garment and footwear exports surge in 2021: GMAC

  Cambodia’s garments, textiles and footwear exports have surged by 10 per cent annually over the last decade. Garments industry bounced back last year after a year of decline in 2020 due to the COVID-19. Members of Garment Manufacturers Association Cambodia (GMAC) hope to mark 2021 as a year of stron... Read more

Women’s footwear grows at steady pace as brands launch innovative ranges

Women’s footwear grows at steady pace as brands launch innovative ranges

  Concerned about their physical appearance, women often engage in a variety of activities like trekking, training, yoga, etc. Regular exercising has become an essential part of their daily lives. However, this is also creating demand for exercise-appropriate outfits and footwear. As per recent Future Mark... Read more

Price hike to limit China’s cotton imports, boost local consumption

Price hike to limit China’s cotton imports, boost local consumption

  Less than expected arrival of cotton bales and a 10 per cent tariff on raw cotton caused cotton prices to hit a 10 year’s high of Rs 72,000 per candy recently. As per a CCF Group report, this is a 9.57 per cent hike from Rs 65,800 per candy on December 21. It also spurred prices of Indian cotton yarn. P... Read more

Bangladesh emerges a major accessory hub in South East Asia

Bangladesh emerges a major accessory hub in South East Asia

  In the last 15 years, Bangladesh has emerged as a major hub for manufacturing accessories and packaging materials. The country has a market worth $160 million for buttons and supplies around 90 per cent of locally-made buttons to the industry. Not just buttons, Bangladesh also makes around 30 other garmen... Read more

India’s cotton stocks to decline by 12 lakh bales in FY2021-22: CAI

India’s cotton stocks to decline by 12 lakh bales in FY2021-22: CAI

  The Crop Committee, Cotton Association of India (CAI) has released its December estimate of the cotton crop for the season 2021-22. As per estimates, cotton stock in India is likely to drop by 12 lakh bales to 348.13 lakh bales against earlier estimate of 360.13 lakh bales. From October 2021 to December 2... Read more

Global cashmere clothing market to reach $3,333.6 million by 2026: Study

Global cashmere clothing market to reach $3,333.6 million by 2026: Study

  Estimated to be worth $2844.6 million in 2020, the global cashmere clothing market is expected to be worth $3,333.6 million in 2026 with an estimated growth rate of 4.0 per cent CAGR over the next five year, says Cashmere Clothing Market Report by IndustryDataAnalytics, a digital consultancy company provi... Read more

Cost-effectiveness can help Vietnam maintain competitiveness in T&A sec…

Cost-effectiveness can help Vietnam maintain competitiveness in T&A sector

  One of the fastest growing garment and textile markets in South East Asia, Vietnam is facing increasing competition from Asian and other markets. In the fourth quarter of FY21, Vietnam was able to meet its target of $39 billion in textile and garment exports, growth of 11.2 per cent compared to 2020. Howe... Read more

New Fashion for Good project to accelerate shift to dry processing

New Fashion for Good project to accelerate shift to dry processing

  A consortium project to bring together several innovations in textile pre-treatment and coloration has been launched by the global platform for innovation Fashion for Good. Known as e D(R)YE Factory of the Future, the project accelerates a shift from wet to mostly dry processing, reducing greenhouse gas e... Read more

Better collaboration can smoothen EU-UK trade flow: Euratex

Better collaboration can smoothen EU-UK trade flow: Euratex

  Brexit was expected to change the European trade scenario. However, the impact it has had on textile and apparel trade between the EU and UK has been very dramatic causing significant losses for companies on both sides. The situation may worsen with full customs regime between UK and EU coming into into f... Read more

Activewear, one of the hottest selling categories for DTC brands in 2021

Activewear, one of the hottest selling categories for DTC brands in 2021

  The DTC activewear market remained one of the busiest in 2021 with a large number of acquisitions and IPOs being launched. Some of the most prolific deals in during the year included the acquisition of Sweaty Betty by Wolverine World Wide, the purchase of Beyond Yoga by Levi’s and the snapping up of Osp... Read more

Mens’ fashion matures in 2021 with new collection launch

Mens’ fashion matures in 2021 with new collection launch

Moving over from women’s wear, fashion brands flocked to menswear in 2021. Most expanded their menswear collections during the year, inspired by rising fashion sense amongst men.    Athletes influence menswear collections in 2021 Athletes were the focus for most fashion brands during the year, as per... Read more

Focus on priority sectors can help Nepal achieve LDC targets

Focus on priority sectors can help Nepal achieve LDC targets

  Despite being confronted by unfavorable conditions, Nepal, has made significant socio-economic progress in the last few years. However, it has demonstrated an absurd growth curve where below average economic growth is being supported by a sharp reduction in poverty. As per a report by Himalaya Times, in the l... Read more

Low-skilled workers, infrastructural facilities plague Bangladesh sweater m…

Low-skilled workers, infrastructural facilities plague Bangladesh sweater makers

    Growing from $3 million to more than $4 billion over time, Bangladesh sweater exports have expanded with the country gaining more access to international markets. Bangladesh currently has 400 automated sweater factories that have replaced its manual hand knitting devices with automated Jacquard mach... Read more

Digitization in focus, demand for exclusive products to rise in 2022: Repor…

Digitization in focus, demand for exclusive products to rise in 2022: Report

  This year, more fashion brands will focus on digitization of operations, with NFTs gaining prominence. Digital-first creatives will be the new influencers with more brands adopting the metaverse and digital-first designs, says a new Vogue Business report. Already, Tommy Hilfiger has tapped eight native R... Read more

Moody’s gives stable outlook to Europe as economic recovery strengthens

Moody’s gives stable outlook to Europe as economic recovery strengthens

    Credit analysts at Moody’s Investors Service have predicted European retail and apparel sector will be stable for the year 2022 as they expect business to return to normal over the next t 12 to 18 months. Shipping delays and rising costs to impact margins They believe, vaccine rollout and ac... Read more

Analyzing prices can help textile leaders avoid dispute due to new GST rate…

Analyzing prices can help textile leaders avoid dispute due to new GST rates

  In its 45th meeting held on September 17, 2021, the GST announced certain changes in the GST rates for footwear and textiles in order to correct the existing inverted duty structure. The Inverted Duty Structure scheme entitles a supplier to get a refund of the accumulated Input Tax Credit (ITC) under the prov... Read more

Levi’s tops Remake’s second annual accountability report

Levi’s tops Remake’s second annual accountability report

  Nonprofit organization Remake’s second annual accountability report naming the worst performance in sustainability has been published. The report lists some of the least accountable brands in 2021 which includes Foreever 21, Ross, Global Brands TJX, Cros, Inc, Edingburg Woolen Mill, the Children’s... Read more

New Year begins with a bang for Indian cotton industry as prices touch reco…

New Year begins with a bang for Indian cotton industry as prices touch record high

        Celebrations continue for the Indian cotton industry with prices skyrocketing to record levels of over Rs 71,000 per candy in the first week of the New Year. Domestic cotton prices are currently on par with global rates, particularly those of Intercontinental Exchange (ICE) cotton fu... Read more

Men’s fashion comes of age globally as brands adopt size inclusivity

Men’s fashion comes of age globally as brands adopt size inclusivity

    The boom of inclusive sizing within women’s fashion in the past few years highlights the growing awareness about health among all age groups of people. Most brands, like the small-scale Universal Standards to those operating on a global scale like Old Navy, are expanding their size bases, to m... Read more

India: Take action against MCX, NYCE speculators, urge cotton stakeholders

India: Take action against MCX, NYCE speculators, urge cotton stakeholders

    Stakeholders in the Indian cotton industry have urged the Central government to take immediate action against MCX and NYCE speculators for hedging and trading of Cotton Kapas. In a letter to the Prime Minister, R C Jain, Chairman, TT Ltd writes, Piyush Goyal, Union Minister of Textile and Railways h... Read more

Vietnam leads the list global top 10 apparel sourcing countries in 2022

Vietnam leads the list global top 10 apparel sourcing countries in 2022

  Just Style’s list of top 10 apparel sourcing countries to watch out in 2022 contains a mix of a few likely and unlikely suspects. Based on the ranking of GlobalData's Apparel Intelligence Center the list rates countries on the basis of 15 main factors that influence a supply chain executive’s deci... Read more

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INSIGHTS

Creativity, innovations to help brands face the COVID-19 storm: McKinsey study

Creativity, innovations to help brands face the COVID-19 storm: McKinsey study

Spurring the biggest economic contraction since World War II, COVID-19 has hit every sector from finance to hospitality. Its discretionary nature makes the sector particularly vulnerable, say McKinsey... Read more

COVID-19 Impact: Unchartered way forward for Bangladesh’s denim industry

COVID-19 Impact: Unchartered way forward for Bangladesh’s denim industry

Top global brands/retailers have been flocking to Bangladesh for the quality of denim products at competitive prices. A new relatively new entrant in denim, Bangladesh expects strong demand for their ... Read more

COVID-19 is not the only reason for decay of brands and retailers today

COVID-19 is not the only reason for decay of brands and retailers today

Even before COVID-19 pandemic, most Western brands and retailers were struggling to survive. In the new millennium, brands and retailers increased their reach to new geographies by opening more and mo... Read more

McKinsey suggests five strategies for fashion companies to combat COVID-19

McKinsey suggests five strategies for fashion companies to combat COVID-19

Even as brick-and-mortar shut down, fashion firms can position themselves for recovery when the COVID-19 pandemic fades, says a McKinsey study. However, to achieve these objectives, firms need to firs... Read more

Time for brands to protect the industry by standing by their commitments

Time for brands to protect the industry by standing by their commitments

CANCEL the shipments, is not the right word at the moment, perhaps to HOLD could be more reasonable. Brands should stand by their commitments as their orders are already in process. This is the only ... Read more

 
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Coronavirus Impact
LEADERS SPEAK

‘Retailers need to inform customers about the category of masks they are selling’

Bobby Arora, Director, Status Quo

Bobby Arora Status Quo“We wait for customers to come into our stores. At this moment it is important for every offline retailer to reach out to their customers and tell them about the new products they have started selling. They need to tempt and bring their customers to buy their product and when they buy they will obviously come in and buy more products. Sometimes even though we do not want to buy online but the continuous rotation of ads tempt us to buy the product but this doesn’t happen offline. In today’s situation retailers will have to adopt this approach of showing customers the products they need as it could be they are delaying the purchase of these products.” 
Read Full Interview Here

“China’s superiority may remain unchanged even after COVID-19”

Akira Kawashima, Senior Director, Japan Fashion Week Organization/Textile Division
Akira Kawashima Senior Director“Due to the turmoil caused by COVID-19, global apparel and textile industry has been greatly affected. In Japan, many people are forced to work from home and consequently not only individual workers (including freelancers) but also company employees are frightened of large-scale personnel-cuts. Incomes have reduced to 60 per cent of normal. Amid such a situation, people’s desire for ‘dressing’ is low. This tendency will continue for a while even after COVID-19 is over, which will lead to local small-mid-sized textile companies suffering from lack of funds, as they cannot wait for recovery, causing more bankruptcy and/or voluntary closures.” 
Read Full Interview Here

“Discount retailers and value-oriented brands stand to win”

Usha Periasamy, Director, Brands & Operations, Classic Polo
Usha Periasamy Director Brands Operations Classic Polo“Consumer spending is dramatically curtailed during a recession. Consumers have adopted short-term behaviour during the pandemic that in many cases will become permanent, as a lesson learned from such unprecedented occurrences. Not only do consumers become more financially conservative but also credit may become less available and a large cohort may go into default on their debt, dramatically limiting purchasing power. Consumers will wake up from the pandemic in a new economic reality, changing their commercial behaviours in extreme ways.
Read Full Interview Here

“Deferral of some duty payments and import fees would provide needed liquidity” 

Steve Lamar, President and CEO, AAFA
Steve Lamar President and CEO AAFAUS deferred duty payments on some imports for 90 days. American Apparel & Footwear Association (AAFA) President and CEO Steve Lamar agreed the deferral of some duty payments and import fees would provide "some of the liquidity needed to keep more Americans employed and more American companies operational during this crisis."
But he added: "Limiting the goods that qualify for deferral will in turn limit the relief that is provided for America's employers and also limits the beneficial impact for US supply chains that have been mobilised to meet the personal protective equipment shortage we face domestically. We urge that all goods – including textiles, apparel, footwear, and accessories facing Section 301 tariffs – be covered by this deferral action. Every day we have to pay those duties means another day we can't pay our workers." 
Quoted in Just-Style

Don’t use this opportunity to stitch up suppliers’

Simon Carter, Founder, Simon Carter menswear brand, UK
Simon Carter Founder Simon Carter menswear brand UKMy approach at the moment is that if you don’t need the expense, cut it, but don’t use this as an opportunity to stitch up suppliers. We are hearing stories of brands and retailers that are doing that but in my opinion it won’t serve them well in the longer term. The supply chains are going to be ravaged after this and you will need them. People will remember.
Cut costs and try to keep your cash where you can but you will be judged at the end of this. Try and make low level payment plans at the very least. Similarly, the Coronavirus Jobs Retention Scheme is very generous scheme. Be very careful with the furlough process and don’t abuse it. The government will be checking up. 
Quoted in UKFT

Crisis presents opportunities, and we will be ready to act on those that make good strategic sense”

 Chip Bergh, CEO, Levi Strauss
Chip Bergh CEO Levi Strauss“I also believe that crisis presents opportunities, and we will be ready to act on those that make good strategic sense,” said Chip Bergh, CEO, Levi Strauss , “ not underplay the human cost of the pandemic, or the need to protect employees,” he said, during a conference call with investors.
“Whether that’s taking back underperforming franchise businesses, or upgrading real-estate locations because of retail bankruptcies, or finding great talent in a decimated job market, the crisis gives us an opportunity to not just renew the business, but to reset it for the future.”
“We will play to our strengths, leveraging the strength of the brand, our connection with our fans, and the digital capabilities and omnichannel capabilities that we’ve invested in over the last few years,” he added. 
Quoted in WARC

“Coronavirus lockdown has changed our lifestyles in ways that make buying new clothes particularly irrelevant”

Andrew Lipsman, Principal Analyst, eMarketer
Andrew Lipsman Principal Analyst eMarketerConsumers are actually spending more on essential goods: Grocery stores saw a 26.9% increase in spending and health stores saw a 4.3% increase. This is partly because these are the only brick-and-mortar stores that are allowed to remain open right now, but it is also because consumers are worried about spending money unnecessarily with a significant recession looming on the horizon. Across the board, sectors that rely on discretionary spending have seen declines. “There is a lot of uncertainty and anxiety about the future,” says Andrew Lipsman, principal analyst at the research firm eMarketer. “People are shifting their spending to focus on the things they really need and cutting their budgets on less essential goods.” Quoted in Fast Company
Read Full Interview Here

‘India can take advantage of this situation and increase its textile exports’

G B Aras, Director Textile Engineering Group, ATE
G B Aras Director Textile Engineering Group ATE“One inherent advantage Indian textile industry has is that we are fully independent as far as the supply chain is concerned. Compared to other industries like pharmaceutical, electronics etc, their supply chain is dependent of global suppliers including China. So the industry that can really take advantage from global market with sustainable increase in exports is textile. If the government realizes this and gives proper support the industry will bounce back faster and increase its export share.”
Read Full Interview Here

“Buyers and Sellers should plan together to see how they can sustain”

K K  Lalpuria, MD, Indo Count 
K K Lalpuria MD Indo Count“The current situation is very uncertain, complex and unprecedented. Customers who closed their stores or point of sales have no option but to cancel their orders. In fact, we are unable to ship to even those who have not cancelled their orders. Some have deferred it where there is low impact believing it may start by the first week of June. As the situation has impacted both parties in the business they should take each other’s views in resolving issues; should be open for suggestions and see mutually how they can minimize the loss. They should plan together to see how they can sustain their market share and build on opportunities.
Read Full Interview Here

‘We need to learn from this crisis and push ourselves to be self-dependent’

R K Agarwal, Chairman, Telangana Spinners Association
R K Agarwal Chairman Telangana Spinners Association“Not only India and but the entire world is realizing, we need to have alternate supply sources. Indeed, this is a big eye opener for everyone more so for us since we are in competition with China. There is nothing that stops us from creating large capacities where we will be able to cater to the world’s requirement in various segments, and fulfill the entire value chain in apparel and the downstream industry. I am sure, many entrepreneurs will come forward to assess the pitfalls we are going through and the lessons learnt from them. In future, some investments will go through in fabric and other raw materials that we are sourcing from China. We need to learn from this and push ourselves to be self-dependent.” 
Read Full Interview Here

‘There is an opportunity for India as everyone will look for an alternative source’

Ramesh Poddar, Chairman, Siyaram
Ramesh Poddar Chairman Siyaram“Definitely there is an opportunity for India as everyone will look for an alternative source. Hence, if we are able to exploit this chance, then definitely there is a possibility for India to be the next sourcing hub. China on the other hand has the advantage of bulk production and to get that kind of advantage and to come to their cost structure will take time though our labour costs are comparatively the same and the advantage they have is of mass scale production. I feel India should take this challenge and fill the gap." 
Read Full Interview Here

‘Future apparel sale will depend on the sentiment that prevails after COVID-19’

R K Rewari, Managing Director, Morarjee  Textiles 
R K Rewari Managing Director Morarjee Textiles“It is wait and watch strategy as we have been informed by customers due to the pandemic all orders are on hold. We can prepare ourselves for future challenges of low demand. Low demand means markings are also low and competitiveness is higher in the market this puts pressure on us to go back to basics to see our cost structure, ways of doing business etc. Many things might change. One is low demand, and the other is new rules of conducting business, most of which will be through video conferencing etc. It looks like there could be a systematic change in overall structure. We are preparing ourselves by keeping our morale high, think positive and identifying the gaps that need to be filled to enable us to meet the challenge of demand whether it is low or high." 
Read Full Interview Here 
“When will life go back to normal? Hopefully never” 
Marina Gorbis, ED, Institute for the Future
Marina Gorbis ED Institute for the Future"The normal wasn't normal," said Marina Gorbis, executive director of Palo Alto's Institute for the Future. "The normal wasn't good." The Institute focuses not only on forecasting the future but also developing innovative solutions. "What kind of future do we want to live in?" she asks. "What kind of future do we want to create? And what can we do to promote that desirable future?" COVID-19 has disrupted what we thought was normal. Gorbis said we're at the first of three stages. The first is reaction to the crisis. Reset is second when we re-assess and evaluate what happened and why. The third is reinvention. For example, the pandemic has revealed weaknesses in hospital capacity and gaps in who has health coverage. The pandemic has exposed the need for government help with many households vulnerable when a paycheck ends. "The fact that millions of people don't have $400 in savings in case of emergency is unacceptable. That's not normal," "I don't want to go back to normal," she concluded. "We need to create a new normal."

“I do not think any country is equipped to replace China including India”

Thomas Verghese, Former-Chairman, CII Marketing, Retail and Textile Councils
Thomas Verghese Former Chairman CII Marketing Retail and Textile Councils“Lack of credibility and trust will lead to many large brands looking for alternative sourcing to China but I do not think any country is equipped to replace China including India.  India does not have that kind of capacity to feed global demand and are not in a position for bulk manufacturing of normal commodity items. We do more of customized exports. We don’t do manufacturing of bulk items. We don’t have that capacity and infrastructure at the moment. It will take two to four years minimum even if everyone is aligned and the government gives supporting fiscal and tariff benefits. Given the reality of Indian industry and government’s policy support measures, it seems an unrealistic expectation.”
Read Full Interview Here

‘Once the country opens up, we will face severe worker issues’

R D Udeshi, President, Polyester Chain, Reliance Industries
R D Udeshi President Polyester Chain“Once the country opens up after the lockdown, at the onset, we will face severe worker issues. Textile industry is a labour-intensive industry and with large number of workers having returned to their native bases before and during the lockdown, availability of labour would be scarce. This is generally noticed after festivals and we are likely to face a greater challenge in bringing them back to work. However, we expect things to normalize by May, assuming that the lockdown is partially and reasonably eased by April. Some units will restart aiding workers to return back to their manufacturing hub and situation would gradually stabilise” 
Read Full Interview Here
A slowdown in demand will be seen for fairly a long time 
Arvind Mathur, CEO, Raymond UCO Denims
Arvind Mathur CEO Raymond UCO DenimsThe garment industry is facing a challenging situation. While buyers have stopped orders as they are facing their own problems and production have been cut down but what is bothering is that payments are being held back in most cases. As for our own operations, due to the national lockdown we are adhering to government directives and have stopped work. Once the lockdown opens in India and globally, we will decide the market as most of our products are export based and we do not foresee any immediate change in the situation. There will be a substantial cut down of orders and orders that are on hold or pending may or may not come back soon. I feel, India’s lockdown may continue for a longer time even though I hope it does not extend beyond April 14. Even the domestic market may not be normal once the lockdown is over. A lot of thing has shifted dramatically during this period the impact is going to be for long term. A slowdown in demand both from domestic and export market will be seen for fairly a long time after the lockdown.”

In short to midterm, it would impact as there’s disruption in global supply chain

Dilip Gyanchandani, Country Manager, India, Wool Mark Company
Dilip Gyanchandani Country Manager India Wool Mark CompanyFrom the textile and garment industry prospective there would be short- to mid- term business impact on volumes as due to the lockdown working factories have come down to minimum production levels. From September onwards, normalcy should be restored but it will take about three to four months for the industry to bounce back. Things are looking good now but it is an uncertain period and is difficult to say something at this stage because it looks like we are containing the pandemic.
Read Full Interview Here

‘Once everything normalizes there will be a big momentum’

Debabrata GoshOerlikon, General Manager India 
Debabrata Gosh General Manager India Oerlikon“Once everything normalizes there will be a big momentum. The advantage is that we have a huge potential and such big domestic market hence we are not dependent on exports alone. I don’t see any threat for the textile industry. As for opportunities, we are expecting more export orders in future because the same has happened in the yarn segment and it will happen in the fabric segment also and the world will take India more seriously as a manufacturer. So far everybody was dependent on China. Since they offered cheaper rates, people switched to China but now the world will think in a different way to keep the supply chain active from India.”
Read Full Interview Here
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HOW TEXTILE RECYCLING WORKS

International Conference on Cellulose Fibers 2022 to be held in hybrid form…

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A Cat Eye View Cat Eye <br />China Insight
CHINA INSIGHTS

Contributed by Mr. Zhao Hong & Ms. Xing Rong

Amid unprecedented Non Woven growth, China revises mask quality standards

Amid unprecedented Non Woven growth, China revises mask quality standards

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China: Silk city Shengze is pilot zone for the world-class textile cluster

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India: NAEC seeks government intervention on rising cotton yarn, fabric pri…

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Eraldo Poletto to be Diesel’s new CEO for North America

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Chinese fashion retailer Shein plans to launch an IPO in New York this year

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Scheme to trial dry processing technologies launched

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China’s cotton yarn exports increase 33.3%

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Sateri’s China viscose mills evaluated for social and labor practices

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Bangladesh lingerie exports surge 43% in 2021

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Sangam India posts Rs 43.74 crore net profit in FY22 Q3

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Control rising cotton prices, urges NAEC to government

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M&S to step up Bangladesh sourcing

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Adidas Originals and Prada debut into the metaverse

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Government begins work on new Textile Technology Development Scheme

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Indonesia to impose anti-dumping import duty for PSY products

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Italian trade shows Micam, Mipel and Milan Design Week postponed

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