Chinese garments are coming to India via Bangladesh. Cotton garments such as trousers, shorts and shirts and cotton T-shirts are among the top four imported items from Bangladesh. This surge is catching up in synthetic textile products as well, at a much faster rates. The high volume of imports from Bangladesh is one of the main factors that has caused stagnation in the textile business in India. Bangladesh holds the second largest share in readymade garments in the world, after China.

Textile companies from China provide fibers and fabrics to units in Bangladesh and get them exported as finished goods to India. Bangladesh can export over 60 products to India duty-free, including readymade garments. The value of garment imports from Bangladesh into India has risen 480 per cent in the last five years. China is seen as taking undue advantage of this trade leniency to Bangladesh.

India imposes GST on textile goods sold in the domestic market. But the same products from Bangladesh reach the domestic market without any duty. The cost difference works out to be ten per cent or 15 per cent. Even the transportation cost from Bangladesh is negligible compared to transporting from, say, West Bengal.

US apparel prices are on the rise. With rising cost of raw materials and inputs that go into fibers and fabrics to the cost of labor and logistics, are leading to price hikes for customers. Besides, there’s the threat and likelihood of a 10 per cent tariffs on apparel imports from China and the potential for higher rates down the road. If this happens, American companies will be forced to raise prices. Already, footwear and apparel are some of the most highly taxed products in the US, reaching as high as 37.5 per cent. The impact could challenge consumer spending in an already tough retail market.

Retail apparel prices increased 1.1 per cent in June, the first gain in four months. Though some cost pressures from the low raw cotton prices have eased in the supply chain, there are other areas where costs are causing prices to climb. These are labor, chemicals and transportation. The polyester business was dampened by the continuation of high levels of yarn imports, which play significant pressure on selling prices. The global fiber market remains under strong pressure due to the increasing fiber capacities in the Asian market, in particular in the standard fiber segment.

The 2020 Beltwide Cotton Conferences (BWCC), to be held from January 08-10, 2020 at the JW Marriott in Austin, Texas, will highlight latest research and technologies in the cotton industry. The BWCC, coordinated by the National Cotton Council (NCC), annually brings together university and USDA researchers, extension personnel/agents, consultants, and industry sales/support personnel. The forum helps U.S. cotton industry members tailor new products and production/processing systems to their operations for maximum efficiency.

The topics selected by the consultant community for consideration on the 2020 program are: an expert panel of entomologists to discuss timely topics ranging from Bt resistance to results of testing Bollgard 4. Among other key issues receiving a focus will be water restrictions, including the status of aquifers across the Cotton Belt; an update on precision agriculture technology; a discussion of EPA’s role in the plant protection chemicals’ review and registration processes; and a briefing on a multi-state potash study.

The 10 BWCC cotton technical conferences, which will provide updates on research and current/emerging technology, will meet concurrently beginning on January 9, 2020 and conclude on January 10, 2020. The Engineering-Systems Conference, for example, will feature presentations on sustainability and contamination prevention while the Economics Conference will cover such topics as crop insurance, disaster assistance and trade. The Ginning Conference will continue to focus on efficient processing/maintaining quality fiber along with updates regarding ongoing ginning research, ginning efficiencies, new equipment, and lint contamination prevention/research.

Vardhman Textiles’ total income was Rs 1683.08 crores during the period ended June 30, 2019, as compared to Rs 1856.37 crores during the period ended March 31, 2019. Net profit was Rs 120.99 crores for the period ended June 30, 2019, as against Rs 182.01 crores for the period ended March 31, 2019. EPS was Rs 20.36 for the period ended June 30, 2019, as compared to Rs 33.17 for the period ended March 31, 2019.

Total income was Rs 1683.08 crores during the period ended June 30, 2019, as compared to Rs 1727.24 crores during the period ended June 30, 2018. Net profit was Rs 120.99 crores for the period ended June 30, 2019, as against Rs 162.74 crores for the period ended June 30, 2018. EPS was Rs 20.36 for the period ended June 30, 2019, as compared to Rs 27.92 for the period ended June 30, 2018.

Vardhman Textiles, which began operations in 1965, is engaged in manufacturing yarn, fabric, acrylic fiber, garments, sewing threads and alloy steel. The group has over the years developed as a business conglomerate with a presence in India and in 75 countries across the globe. The company is a one-stop shop for all kinds of spun yarn offering a variety of contemporary blends and shades.

As per Deloitte’s latest Deal Monitor report, of the 265 mergers and acquisitions that took place in the luxury sector last year, many involved conglomerates who were seeking to diversify their holdings by buying companies in adjacent sectors. One of several luxury-focused companies expanding sideways is Fartech which recently announced a $675 million acquisition of New Guards Group, the Italian incubator of streetwear labels including Off-White and Palm Angels. The move will enable Farfetch to extend its proposition upstream by adding design, production and brand development to its capabilities.

LVMH recently forayed into the tourism sector with its $3.2 billion purchase of the Belmond hotel brand while Dubai-based property developer Damac acquired a controlling stake in Roberto Cavalli last month.

While fashion companies are investing in adjacent sectors, private equity investors are continuing to prioritise luxury fashion, despite the mixed success of such investments. For the third consecutive year, a Deloitte survey of 60 leading private equity firms noted that these were interested in investing in fashion even though they expect beauty, restaurants and digital luxury goods to grow twice as fast.

New rules being proposed especially by the US and the EU can enable the likes of Google, Facebook, Amazon and Microsoft to monetize data on a grand scale.

That means the role of governments in overseeing global electronic commerce can weaken. The US, for example, does not want any discriminatory restrictions on the treatment of digital products, cross-border transfer of information by electronic means, and location of computing facilities, including cloud computing, among others. The US’s position is also being shared by Japan and several other former members of the Trans-Pacific Partnership agreement.

However, the US, EU and Japan among others want to prohibit the mandatory transfer of source code by suppliers of software in other countries. Studies have shown that software with complex source code could contain certain hidden algorithms that facilitate dark data flows without the consent of the countries and help tech-companies in monetizing that dark data. Russia has challenged the need for a prohibition on source code, saying that without credible security and other guarantees, it is incumbent on the suppliers of software to provide source code.

Tech companies, while insisting their technology is too complex to be legislated, spend billions of dollars lobbying against any oversight.

As pe Center for International Trade Expositions and Missions, (CITEM), Philippines aims to generate over P2.53 million revenues from its maiden participation at the US trade show Pretty Women that will feature contemporary lifestyle fashion brands for women. The Philippines delegation also aims to generate $790,000 in export sales and around 240 buyer inquiries from the trade show.

Project Women is a part of the Men’s Apparel Guild in California (MAGIC) event being held from Aug 12 to 14 at the Las Vegas Convention Center. The trade fair is considered as the most comprehensive fashion marketplace in the US. CITEM, the export promotions arm of the Department of Trade and Industry, is organising the country’s participation at the event, along with the Philippine Trade and Investment Center in Los Angeles and in San Francisco. The participating brands include Calli, Lara, Vesti and Virtucio, which make handbags; Agsam Fashion Fern, Beatriz Accessories, Ken Samudio and Maco Custodio.

Nandan Denim’s total income was Rs 464.30 crores during the period ended June 30, 2019, as compared to Rs 389.40 crores during the period ended March 31, 2019. Net profit was Rs 3.21 crores for the period ended June 30, 2019, as against Rs 4.07 crores for the period ended March 31, 2019. EPS was Rs 0.67 for the period ended June 30, 2019, as compared to Rs 0.85 for the period ended March 31, 2019.

Total income was Rs 464.30 crores during the period ended June 30, 2019, as compared to Rs 359.62 crores during the period ended June 30, 2018. Net profit was Rs 3.21 crores for the period ended June 30, 2019, as against Rs 5.23 crores for the period ended June 30, 2018. EPS was Rs 0.67 for the period ended June 30, 2019, as compared to Rs 1.09 for the period ended June 30, 2018.

Nandan Denim is India’s largest denim fabric manufacturer. From a year-on-year perspective, Nandan has completed capacity expansions at the denim fabric, shirting fabric, and yarn manufacturing units. The company’s fabric manufacturing capacity is 110 million meters per annum. Going forward, emphasis will be laid on fashion denim fabrics to target better realizations compared to regular denim material.

For the first quarter, Century Textiles and Industries’ net profit rose 11.06 per cent. Total income fell 10.37 per cent. Total expenses fell 3.62 per cent. Mumbai-based Century Textiles and Industries is active in textiles, viscose filament yarns, cement, and pulp and paper. In textile business, Century Textiles has two revenue streams: cotton fabric and denim units, The company has a vertically integrated plant at Bharuch for manufacturing cotton fabrics. The cotton division is one of the oldest in India and manufactures a wide range of premium textiles and supplies to many international players, including Royale Linen, Ralph Lauren, DKNY, Belk and US Polo. Century Textiles’ financial metrics have declined, mainly due to its high debt. Interest costs have corroded its profit after tax. Besides, due to falling demand and pressure on selling prices of cement, the financial performance of cement units has also suffered.

Net sales were Rs 2209.38 crores during the three month period ended June 30, 2018, as compared to Rs 2301.18 crores during the three month period ended June 30, 2017. Net profit for the three month period ended June 30, 2018, was Rs 162.66 crores as against Rs 120.24 crores for the three month period ended June 30, 2017.

Rupa and Company’s net profit for the first quarter dropped 10 per cent. Revenue rose three per cent. Ebitda was up two per cent.

Rupa, one of the largest knitwear brands in India, produces inner wear, casual wear, thermal wear, and sleepwear for men, women, and children. The company will be expanding its product portfolio especially in the women’s category and will be entering the women’s lingerie segment later this year. It is also looking at leveraging its brand equity by entering the children’s innerwear segment and has launched the Kidline brand. The company has its presence in the infant wear segment through its brand Bumchum Tots. It expects a ten per cent growth in turnover in 2019-20.

Rupa has over 18 brands and 8000 stock keeping units. In the innerwear industry, the company is a leader, having a distribution network across India. It has a pan-India presence with a large distribution network consisting of four central warehouses, six EBOs, 20 branches, 1000 dealers and more than 1,18,000 retailers. It is also looking at enhancing availability through presence in e-commerce, multi-brand outlets and large format retail stores. The company is also looking forward to open Rupa EBOs through the franchise route across India and expand its retail footprint.