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Vardhaman Textile’s consolidated net profit increased by 31.44 per cent to Rs 210.61 in Q3, FY25. The company’s revenues from operations grew by 5.81 per cent to Rs 2,465.30 during the quarter as against Q3, FY24.
Revenue from textiles rose by 5.03 per cent Y-o-Y to Rs 2,403.94 crore while revenues from the acrylic fiber division increased by 32.14 per cent to Rs 81.78 crore.
Vardhaman Textiles also registered a 28.85 per cent Y-o-Y rise in profit before tax (PBT) to Rs 272.54 crore during the quarter. The company’s expenses increased by 3.09 per cent to Rs 2,272.16 as compared with Rs 2204.08 crore in Q3 FY24.
Total yarn production by the company declined by 0.03 per cent to 65,827 metric tons in Q3 FY25 as compared with 65,849 metric tons in Q3 FY24. Total sales rose by 4.96 per cent Y-o-Y to 66,175 metric tons in Q3 FY24.
Total sales of Grey Fabric by the company contracted by 2.4 per cent to 529 metric tons in Q3 FY25 as against 542 metric tons in Q3 FY24. Its production declined by 3.33 per cent Y-o-Y to 523 metric tons in Q3 FY25.
In Q3, FY25, Vardhaman Textiles produced 0.91 per cent more or 443 metric tons of processed fabric as compared with 439 metric tons in Q3 FY24. Its total sales increased by 1.62 per cent to 439 metric tons in Q3 FY25 as against 432 metric tons in Q3 FY24.
One of the leading textile groups in India, Vardhaman Textiles operations across the yarn, fabric, sewing threads, fiber, special alloys and garment sectors.
Cone Denim has partnered with Guatemalan designer Juan Carlos Gordillo and sustainable finishing company Jeanologia to launch an innovative denim collection at Kingpins New York.
The collection showcases sustainable designs and creative expression in a range of unique denim garments, blending artisanal craftsmanship with modern technology.
It features Cone Denim’s biodegradable fabrics, made with 100 per cent cotton, recycled cotton, and Tencel. These materials provide a lightweight, fluid foundation for Gordillo’s custom designs, which are hand-painted with abstract forms to create one-of-a-kind pieces. The brand blends traditional craftsmanship with modern technology to achieve a compelling design collaboration, says Pierette Scavuzzo, Design Director, Cone Denim.
The garments were finalized by Jeanologia at its Miami hub, using laser and ozone treatments to bring Gordillo’s vision to life. Their designs feature fine, hand-drawn lines and laser-cut patterns inspired by classic whiskers in weathered denim, adding a handcrafted aesthetic to the collection.
The garments embody a narrative of ethics, artistry, and transformation, emphasizes Gordillo. Each piece tells a story of raw, evocative beauty and functional elegance with the collection reconfirming the belief that quality, ethics, and sustainability are inseparable.
Known for his expertise in sustainable denim design, Gordillo earlier showcased his collections at the Vienna Fashion Week and Berlin Fashion Week. In 2023, he launched ReNacer, a collection that incorporated upcycled denim fabrics alongside innovative materials like Black Dry Denim from Tejidos Royo. Earlier, in 2019, he collaborated with Lenzing, Tejidos Royo, Officina39, and Tonello to launch Planet Rehab, a collection highlighting the denim industry’s commitment to reducing environmental impact.
The new collection reflects the growing demand for eco-friendly fashion, blending artistry and sustainability to create versatile pieces designed for everyday life. By combining Gordillo’s craftsmanship with Cone Denim’s sustainable fabrics and Jeanologia’s advanced finishing technology, the collection sets a benchmark for ethical and innovative denim design.
From $16.7 billion in FY24, Pakistan’s textile exports are likely to increase to $18–19 billion in FY25, as per projections by analysts.
Figures from Topline Pakistan Research indicate, Pakistan’s textile exports increased by 6 per cent Y-o-Y and 1 per cent M-o-M to $1.5 billion in December 2024.
Representing the fifth consecutive month of YoY growth, this growth was largely driven by the value-added segment, especially readymade garments, which reported 20 per cent Y-o-Y and 9 per cent M-o-M rise in exports to $357 million. Exports in other segments, including silk, and synthetic textiles, increased by 22 per cent Y-o-Y and 28 per cent M-o-M to $38 million—the highest in 2.5 years.
Value-added segment continued to outperform, with exports rising by 12 per cent Y-o-Y and 1 per cent M-o-M. Knitwear, bedwear, and towels exports grew by 7 per cent Y-o-Y, 13 per cent Y-o-Y and 1 per cent Y-o-Y to $391 million, $256 million, and $88 million respectively. However, exports of basic textiles declined by 16 per cent Y-o-Y and 2 per cent M-o-M to $215 million in December, with cotton yarn exports contracting by 34 per cent Y-o-Y and 22 per cent M-o-M to $63 million.
In H1, FY25, Pakistan registered a 10 per cent Y-o-Y growth in textile exports to $9 billion. Exports of basic textiles declined while shipments in the value-added segment grew by 17 per cent Y-o-Y, driven by a 22 per cent Y-o-Y increase in RMG exports.
This recovery in Pakistan’s textile exports is been attributed to several factors, including an improved cotton crop, shifting orders from Bangladesh due to internal conflicts, and tariffs imposed on China.
All Pakistan Textile Mills Association (APTMA) is urging the Federal Board of Revenue (FBR) to support the sector’s growth by restoring zero-rating or equalizing GST on inputs, expediting refunds, digitizing processes, and shortening audit periods to enhance liquidity and competitiveness.
The Northern India Textile Mills Association (NITMA) has raised alarm over under-invoiced imports of synthetic knitted fabrics, which it says are severely damaging the domestic textile industry. Today, NITMA President Sidharth Khanna made a heartfelt appeal to Prime Minister Narendra Modi, urging intervention to halt the illegal imports and misdeclaration of HS codes under Chapter 60 at Indian ports.
According to NITMA, certain importers are bypassing regulations by declaring synthetic knitted fabrics at prices as low as $1 per kilogram, while the actual global price ranges between $4–6 per kilogram. This malpractice has not only undermined domestic manufacturers but also resulted in over Rs10,000 crore in tax losses.
Although the government recently extended the Minimum Import Price (MIP) of $3.50 per kilogram on 13 synthetic fabric HSN codes until March 2025, imports have continued to rise. Data shows synthetic fabric imports surged from 89 million kilograms in Q1 2024 to 130 million kilograms in Q3 2024, as importers shifted to non-MIP HS codes.
Khanna commended the Ministry of Textiles and the Ministry of Commerce & Industry for their efforts but emphasized that current measures have proven inadequate. He pointed out the alarming involvement of logistics companies in importing these under-invoiced fabrics, predominantly from Nandiambakkam SEZ in Chennai.
To safeguard the textile industry, NITMA has called for a comprehensive investigation into these practices. It also urged the government to enforce stricter regulations and penalize violators to restore fair competition and trust in the market.
“Our industry cannot endure the financial and operational strain caused by such unscrupulous activities. Immediate action is imperative,” Khanna stressed.
Spanx LLC has unveiled a new groundbreaking denim collection that combines cutting-edge technology with unparalleled comfort and fit. Known as Spanxsculpt Redefine, this innovative range features Lycra FitSense denim technology, an advanced fabric with integrated, targeted sculpting zones for tummy control, thigh shaping, and butt-lifting.
The Spanxsculpt Redefine collection utilizes Lycra FitSense technology, integrating the sculpting zones directly into the fabric fibers. A Lycra fiber core is wrapped in a temperature-responsive fiber and encased in a cotton sheath to maintain denim’s timeless look and feel. Through an innovative heat-activation process, targeted sculpting zones are permanently ‘locked’ into the fabric at key areas like the tummy, thighs, and butt. These zones provide shaping benefits without the need for extra boning, paneling, or hardware, ensuring a sleek and comfortable fit.
The Spanxsculpt Redefine collection includes two flattering styles: flare and slim straight, available in two versatile washes. Both styles feature a functional five-pocket design, zip fly, button closure, and numeric sizing (0–26), marking Spanx’s first denim offering with fully functional sizing and traditional denim details. Spanx plans to expand the collection throughout the year with new styles, fits, and washes to meet customer demand.
Spanxsculpt Redefine is part of the Spanxeffect framework, which includes products designed to smooth, shape, and sculpt at varying levels of compression. With this framework, Spanx has introduced a new way for customers to identify and shop for the specific results they desire across its range of apparel, activewear, and intimates.
The Spanxsculpt Redefine denim collection transforms an iconic wardrobe staple into a must-have for women seeking premium sculpting and comfort in their everyday style. Cricket Whitton, CEO, Spanx, describes this collection as a game-changer in sculpting and comfort, offering women a new level of functionality in denim.
Sustainable fashion brand Nobody’s Child has entered the growing resale market in partnership with Reskinned with the tagline, ‘Loved once, loved again.’
Aligned with its belief that ‘beautiful fashion shouldn’t cost the Earth,’ the brand designs pieces that can be ‘loved, worn, and cherished for years.’ Its collaboration with Reskinned will help ensure these pre-loved styles find new homes through resale or repurposing. Any items that are no longer wearable will be responsibly recycled to prevent them from ending up in landfills, according to the retailer.
As an added incentive, customers participating in the program will receive a voucher worth up to $30 to use at Nobody’s Child.
Instrumental in helping brands execute their circular fashion strategies, Reskinned has, in recent years partnered with major fashion brands like Dune London, River Island, Seasalt, and Joules. Nobody’s Child also collaborated with repair specialist Sojo last year to mark World Earth Day, reinforcing its dedication to sustainability. The initiative reflects the brand’s ongoing commitment to building a more circular future for its products.
Walmart has launched new strategic pilot programs with three India-based startups to enhance its US supply chain and sourcing operations. These selected startups—Pune-based KBCols Sciences, Chennai-based GreenPod Labs, and Bengaluru-based Cropin—were chosen after their participation in the Walmart Growth Summit last year.
The pilot initiatives aim to drive large-scale innovation across Walmart’s supply chains, focusing on improving the availability of fresher products, reducing waste, and implementing sustainable manufacturing practices. These programs will test solutions to advance sustainability and efficiency in both food and textile industries.
Specializing in non-GMO natural dyes made from fermented microbes derived from agricultural waste, KBCols provides an eco-friendly alternative to synthetic dyes. Their dyes require less water and energy in the production process, promoting sustainable practices in textile manufacturing. Walmart’s pilot program will test KBCols’ dyes on woven materials and jersey cotton to evaluate their properties.
GreenPod Labs produces sachets filled with plant extracts that activate the natural defense mechanisms of fruits and vegetables, slowing ripening and extending freshness. This innovation can prolong the shelf life of produce during transportation, open new sourcing geographies, and improve overall product quality. Walmart, in partnership with UC Davis, will test these sachets for effectiveness in its produce supply chain.
Cropin provides an AI-powered agricultural technology platform that offers insights into crop yields, health, and seasonal transitions. Walmart’s pilot will evaluate Cropin’s technology to improve resource optimization, ensure consistent harvest quality, and enhance yield estimation accuracy. These insights could help Walmart source perishable commodities more effectively, reducing waste and improving product availability.
Kyle Carlyle, Vice President-Sourcing Innovation & Surety of Supply, Walmart emphasizes, the company focuses on building a supply network aligning with its sustainability and efficiency goals through its collaboration with global innovators. These three startups exemplify the company’s commitment to boost the growth of textile industries, he adds.
These pilot programs reflect Walmart’s broader strategy to harness innovative technologies for building sustainable, efficient, and resilient global supply chains.
The European Union plans to set up a major textile recycling facility in Sillamäe, Estonia. Set to become the largest in the Baltic region, the facility will be developed by three interconnected companies with an investment of €100 million. Of this, €39 million will be provided by the EU's Just Transition Fund through Estonia’s Enterprise and Innovation Foundation.
The three companies will create a closed-loop system where each of their output will be fed into the next stage of the recycling process. The facility will process up to 70,000 tons of textile waste annually, with materials sourced from Estonia and neighboring countries.
The recycling process will begin with sorting incoming textile waste. Higher-quality materials will be earmarked for reuse, while lower-quality synthetic fibers will be blended with recycled plastic to manufacture construction boards. This innovative material will be made from a combination of textile waste fibers, recycled plastic, and additives.
Once operational in late 2026, the facility is expected to employ 150 people. The three factories will span approximately 1.5 hectare, and preliminary agreements have already been signed for both domestic and international product distribution.
The project aligns with broader EU initiatives to support regions facing socio-economic challenges in transitioning to climate neutrality. Estonia has designated Ida-Viru County, one of its economically disadvantaged regions, as the recipient of these resources.
In a landmark presidential address, President Trump unveiled a sweeping set of policy initiatives aimed at revitalizing the American fashion, apparel, and textile industries. The announcements sent shockwaves through the sector, promising significant changes to manufacturing, sustainability, and labor practices. "For too long, the American fashion industry has been outsourced and undervalued," the President declared. "Today, we begin a new chapter, one where American creativity and craftsmanship lead the world once again."
Policy announcements
‘Made in America’ tax incentives: A significant tax credit will be offered to companies that manufacture clothing and textiles within the US. This aims to incentivize reshoring and boost domestic production.
Sustainable fashion fund: A $1 billion fund will be established to support research and development in sustainable materials and manufacturing processes. This initiative aims to reduce the environmental impact of the fashion industry and promote circularity.
Fair labor standards: New legislation will be introduced to strengthen labor protections for garment workers, including a national minimum wage for the industry and stricter regulations on working conditions.
Skills development and apprenticeship programs: Federal funding will be allocated to support training and apprenticeship programs for aspiring designers, pattern makers, and textile workers. This aims to address the skills gap and create new job opportunities in the sector.
Import tariffs: The President announced plans to impose tariffs on imported textiles and apparel from specific countries, citing concerns over unfair trade practices and environmental standards. This move is expected to significantly impact the cost of imported goods and potentially reshape global supply chains.
Industry reactions
The President's announcements have been met with a mix of excitement and apprehension. "This is a game-changer," says Anna Wintour, Editor-in-Chief of Vogue. "These policies have the potential to revitalize American fashion and make it a global leader in sustainability and ethical production." For example, The Renewal Workshop that specializes in apparel repair and upcycling, stands to benefit significantly from the Sustainable Fashion Fund. "This funding will allow us to scale our operations and create a more circular model for the fashion industry," says Nicole Bassett, Co-Founder of The Renewal Workshop.
The US apparel market is a significant economic sector, valued at approximately $358.70 billion in 2024, with projections to grow at a compound annual growth rate (CAGR) of 2.11 per cent between 2024 and 2028. Despite this growth, the industry faces challenges, as over 97 per cent of apparel sold in the US is imported, highlighting a reliance on global supply chains.
Concern about tariffs and its implications
Meanwhile, some industry leaders have expressed concerns about the potential impact on costs and competitiveness. "We applaud the President's commitment to sustainability and fair labor practices," says Bob Bland, CEO of the American Apparel & Footwear Association. "However, we need to ensure that these policies don't inadvertently harm American businesses or make them less competitive in the global market."
Of course, the proposed tariffs have sent ripples of concern through the industry. While intended to boost domestic manufacturing, they could also lead to increased costs for consumers as tariffs will likely translate to higher prices for clothing and textiles, impacting consumers and potentially dampening demand. What’s more, companies heavily reliant on imports may face challenges in sourcing materials and finished goods, leading to potential delays and disruptions. And trading partners could retaliate with their own tariffs on American goods, potentially harming other sectors of the economy.
For example, Everlane the clothing retailer, known for its transparent pricing and ethical sourcing, could face challenges due to the tariffs. "We are committed to providing our customers with high-quality, ethically made clothing at affordable prices," says a spokesperson for Everlane. "We are closely monitoring the situation and exploring all options to mitigate the impact of tariffs on our business."
Similarly, Patagonia the outdoor apparel company, renowned for its commitment to sustainability, has long advocated for responsible trade practices. "We believe that trade should be fair and sustainable," says a Patagonia representative. "We are hopeful that these tariffs will encourage a more responsible and equitable global trade system."
Political and cultural shifts
The return of President Trump to the White House has also influenced fashion trends, with a resurgence of ‘Republican chic’ styles. This aesthetic emphasizes traditional, feminine ensembles and polished, high-maintenance looks, marking a departure from previous Democratic fashion trends.
The point is that President Trump's ambitious vision for America's fashion industry promises significant change. Yet, the introduction of tariffs introduces complexity and uncertainty, potentially affecting prices and supply chains. The coming months will be critical in assessing how these policies shape the industry's future, impacting stakeholders from manufacturers to consumers on a global scale.
A new report by McKinsey & Company highlights the global consumption patterns, forecasting significant transformations in how and what the world consumes by 2050. The report, titled ‘Global Consumption Outlook to 2050’, utilizes extensive data analysis and modelling to reveal a world grappling with shifting demographics, technological advancements, and climate change.
Consumption boom in emerging economies
The report predicts that emerging economies, particularly in Asia and Africa, will drive the majority of consumption growth. By 2050, these regions are expected to account for over 50 per cent of global consumption, up from approximately 35 per cent today. This shift will be due to rising incomes, urbanization, and a growing middle class.
Table: Global share in consumption
|
Region |
Consumption share (%) in 2023 |
Consumption share (%) in 2050 |
|
Developed Economies |
65 |
45 |
|
Emerging Economies |
35 |
55 |
Services will take center stage. While spending on goods will continue to increase, the report highlights a significant rise in demand for services. Sectors like healthcare, education, and leisure are projected to witness substantial growth, reflecting changing lifestyles and priorities. Sustainability concerns will drive change. That is growing awareness about environmental issues and resource scarcity will significantly impact consumption patterns. Consumers are expected to increasingly favor sustainable products and services, forcing businesses to adapt and innovate. For example, India, with its growing middle class and increasing environmental concerns, provides a compelling case study on the shift towards sustainable consumption. The report highlights the increasing popularity of eco-friendly products, renewable energy solutions, and shared mobility services in the country. Technological advancements will continue to reshape consumption in profound ways. E-commerce, digital services, and the sharing economy are expected to gain further traction, transforming traditional retail and consumption models.
Rise of silver spenders
One major trend will be the rise of ‘silver spenders’. The report highlights the growing influence of the elderly population on consumption. With increasing life expectancy and improved health, this demographic is expected to become a major consumer force, particularly in sectors like healthcare, travel, and leisure. A case study from Japan, a country with a rapidly aging population, demonstrates how businesses are adapting to cater to the unique needs and preferences of older consumers.
The report also acknowledges the challenges associated with these consumption shifts. Inequality, environmental degradation, and resource constraints need to be addressed to ensure sustainable and inclusive growth. However, the it highlights the immense opportunities presented by these changes, particularly for businesses that can innovate and cater to the evolving needs of consumers.
