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The South India Spinners Association (SISA) has advised the Cotton Corporation of India (CCI) to sell cotton primarily to cotton textile mills in the MSME sector from July 01.
Currently at a critical juncture, the textile industry in India is grappling with several financial struggles, says SJagadeshChandran, Secretary, SISA. This has led to several textile mills in Tamil Nadu ceasing operations due to financial crisis, high operational costs, and market volatility. Compounding these challenges is a notable decline in yarn and textile exports, as well as increased pressure from imports, he claims.
To mitigate this situation, the CCI needs to sell its stock of 24 lakh bales only to the MSME spinning mills for three months, opines Chandran.
Four months ago, as the cotton prices increased from Rs 58,000 to Rs 63,000 a candy, the industry requested the Ministry of Textiles and the CCI to abstain from selling cotton to traders. The ministry too advised the CCI to stop selling cotton to traders, leading to prices dropping to Rs 57,000 a candy and remaining stable for four months, he adds.
Expanding its digitalisation efforts, Biella Yarn showcased its new flat knitting collectionat PittiFilati from June 25-27, 2024.
Developed in collaboration with Knitwear Lab, the Dutch Design and Development Centre renowned for its knitting expertise, the collection offers a perfect balance for slowing down and reconnecting in our fast-paced world.
Drawing inspiration from the subtle patterns found in nature, such as soft waves in sand and organic markings on stone, the collection presents tone-on-tone color mixtures that emanate a sense of calm, minimalism and harmony.This season, the collection expands to include luxurious fine bouclé yarns and blends that combine the natural softness of wool with the elasticity of PBT.
Inspired by this season’s theme, garments crafted by MRC Knitwear Research Lab, Biella Yarn's partner, feature plush jacquards, varied textures, and uneven surfaces by combining contrasting yarn textures with special stitches.
At a review meeting of the Industrial Policy and Investment Promotion Department at Mantralaya, Mohan Yadav, Chief Minister, Madhya Pradesh, urged for the swift completion of processes for the Rs5 billion integrated textile and apparel park project in Dhar district, which has been approved by the Textile Ministry.
Highlighting the importance of this project, Yadav underscored the need for concerned agencies to promptly fulfill their roles to achieve the target of employing over 25,000 people through 21 units in the PM mega textile park, as stated in a press release by the government of Madhya Pradesh.
The proposal to establish the PM MITRA Park in Bhensola village, Badnawar Tehsil, Dhar district, received formal approval from the government of India in March 2023. The MoU between the Ministry of Textiles and the government of Madhya Pradesh was signed in Dhar district on May 21, 2023.
Yadav also discussed the proposed industrial policy, instructing the preparation of an integrated plan for the development of industries. He pointed out that various ministries of the Central Government have already approved the establishment of different industrial units in Madhya Pradesh, stressing the urgency of implementing these projects.
The proposed investment of Rs350 billion in mega projects in Pithampur and Ratlam is expected to create employment for over 100,000 people. The development of the Indore-Pithampur Economic Corridor, covering 3,200 acre, is projected to cost Rs21.25 billion and employ about 100,000 people. Additionally, Indore’s multimodal logistics park, with an investment of with an investment of Rs20 billion, will provide jobs for more than 5,000 people.
The state government is prioritising the establishment of employment-oriented industries and plans to celebrate 2025 as the year of industry. An investors summit is proposed for January 2025, with regional industrial summits to be held across the state. Yadav will also meet with industrialists in major Indian cities to attract new industrial investments.
Initiatives benefiting the youth in industries and business will be conducted in cooperation with the Madhya Pradesh Council of Science and Technology (MAPCOST) and organisations like ISRO. Yadav issued several key instructions, including the preparation of an integrated industrial development plan, organising regional industrial conclaves, holding meetings with industrialists for new investments, focusing on employment-oriented industries, and preparing for the investors summit.
The inauguration of 78 industrial units in the state is scheduled soon. The meeting also reviewed the progress of the industry summit held last year and the Regional Industry Conclave-2024 held on March 1 and 2 in Ujjain.
Vietnam surpassed China to become the leading exporter of textiles and garments to the United States during the first five months of this year. The nation achieved the highest export growth among the world's top three exporters in this category, according to the Vietnam National Textile and Garment Group (Vinatex).
From Jan-May’24, Vietnam's textile and apparel exports to the US amounted to approximately $16 billion, marking a 5 percent Y-o-Y increase. Of this, $6 billion was generated from the US market, reflecting a 4 percent rise compared to the same period last year.
With these results, Vietnam has overtaken China to secure the largest market share of textile and garment exports to the United States. According to Cao HuuHieu, General Director, Vinatex, Vietnam also recorded the strongest export growth among the top three global exporters during this period.
The other top three exporting nations are Bangladesh and China. Vinatex data shows that Bangladesh’s export earnings increased by 3.9 per cent to $21.7 billionwhile China's total textile-garment export turnover decreased by 2 per cent from Jan-May to $66 billion. Vinatexattributed Vietnam's rise to the transfer of numerous orders from other countries to Vietnam and a 5 percent decline in the value of the Vietnamese dong relative to the US dollar, rather than an increase in global demand.
In response to intense market competition, many textile businesses in Vietnam have started producing items made of blended and recycled fibers, which are outside their traditional expertise, to capture niche markets. Despite this shift, these businesses continue to produce traditional cotton fiber products.
At the same time, companies are upgrading production technology, promoting research and development of new products, and seeking new customers to reduce reliance on established markets.
ReHubs has unveiled its newly elected Board of Directors, signaling a major advancement in its initiative to expand fibre-to-fibre textile recycling across Europe. The election occurred at the ReHubs Annual Event in Barcelona, hosted by Coleo, which also showcased a state-of-the-art Recycling Sorting Facility. This facility, developed through the partnership between Coleo and ReHubs, marks a significant leap in textile recycling technology.
The newly appointed Board comprises industry leaders from various partner organizations who will collaborate with Executive Director Chris Deloof to strengthen ReHubs' capacity-building and knowledge-sharing efforts.
Members of the Board include Acerina Trejo Machin from Resortecs, Alain Poincheval representing Reju, Anna Pehrsson of Texaid, BouraouiKechiche from Decathlon, Carl Baekelandt affiliated with Concordia Textiles / PurFi, David PuyueloHuguet from Coleo, Dirk Vantyghem of Euratex, Felix Poza Pena from Inditex, Mariska Boer representing Boer Group, OutiLuukko from Rester, and Veronique Allaire Spitzer of Refashion.
During the two-day event, ReHubs' 25 partners actively participated in discussions aimed at fostering collaboration and exchanging innovative ideas. Key highlights featured policy updates from Euratex and dialogues with the European Investment Bank concerning their Venture Debt Program and Advisory Services.
Chris Deloof underscored the significance of collaboration, emphasizing how bringing together individuals with a shared vision over these days had reinforced their commitment to achieving collective goals and closing the loop.
Coleo CEO David Puyuelo highlighted the importance of relentless collaboration, showcasing their new facility in Mataro. As ReHubs continues to expand, it invites interested parties to join its mission to industrially scale up textile waste recycling in Europe.
Online resale platform ThredUp has appointed Noam Paransky to its board of directors. Paransky brings over 25 years of experience in digital retail innovation and omnichannel strategy, which will be invaluable as ThredUp transitions from a traditional resale marketplace to an AI-powered one, according to a press release.
Paransky currently serves as the Chief Omni and Innovation officer, Tapestry, where he oversees the company's digital innovation agenda and ensures an innovative omnichannel experience across all customer digital touchpoints. Before joining Tapestry, he served as the Senior Vice President of digital at Gap, Inc, leading digital sales and engagement channels for all Gap, Inc. brands. Prior to that, he spent nearly two decades as a retail, digital, and marketing expert, collaborating with various retail and fashion brands.
James Reinhart, Co-founder and CEO, ThredUp, emphasises, Noam’s extensive experience in omnichannel strategy and innovation aligns with this focus, and his appointment comes at a pivotal time where we’re leveraging breakthroughs in technology to improve the shopping experience on ThredUp and redefine how people interact with secondhand apparel online.”
Paransky joins a board that includes Patricia Nakache (chair), Ian Friedman, Mandy Ginsberg, Tim Haley, Jack Lazar, Dan Nova, Coretha Rushing, and CEO James Reinhart.
ThredUp's board continues to revolutionise the resale industry and bring circularity to the forefront of fashion, adds Paransky.
This appointment follows the recent addition of Florin Filote as ThredUp's general manager of Europe, marking another step in the company's global expansion and innovation strategy.
British Wool has announced a strategic investment in NexGen Tree Shelters Ltd., a company specializing in biodegradable tree shelters made from British wool. This investment will enable NexGen to start full production of its eco-friendly tree shelters, which have undergone extensive development and testing since winning the Innovation in Wool award in 2020.
The partnership aims to transition NexGen’s innovative products from development to market, enhancing sustainability and eliminating single-use plastics. NexGen has committed to sourcing wool through British Wool’s collective marketing scheme, and British Wool will gain a seat on NexGen’s Board, ensuring close collaboration.
Andrew Hogley, CEO of British Wool, expressed enthusiasm for the partnership, highlighting its potential to remove single-use plastics and boost demand for undervalued British wool. Gary Hurlstone, Founder of NexGen, noted the significant interest in their products and the opportunity to expand into UK and international markets.
This investment underscores British Wool’s commitment to sustainability and promises to create value for its members by opening new markets for British wool. The eco-friendly tree shelters represent a major step forward in sustainable agriculture and environmental conservation.
The 71st edition of the India International Garment Fair (IIGF) was inaugurated today by Union Textiles Minister Giriraj Singh in New Delhi. The event, graced by prominent figures including Member of Parliament Ramesh Bidhuri, AEPC Chairman Sudhir Sekhri, international buyers, and exhibitors, aims to boost the Indian garment and textile industry.
India’s economic growth and textile sector ambitions
In his inaugural address, Giriraj Singh highlighted India's rapid economic growth, with a GDP growth rate of 7.2 per cent, and projected it to become the third-largest economy by 2027-28. He attributed this growth to a supportive political environment and enhanced infrastructure, fostering a conducive business ecosystem.
Giriraj Singh highlighted the significance of the fair in global trade, noting with pleasure that around 600 buyers from over 50 countries are participating in this edition of the IIGF.
Goals for the Indian textile industry
Singh outlined ambitious targets for the Indian apparel and textile market, currently valued at $165 billion, aiming to reach $350 billion. He urged the industry to elevate apparel exports to $50 billion by 2030. Singh also stressed the importance of promoting technical fibers and geo textiles, sectors identified for significant growth potential by Prime Minister Modi’s roadmap.
Competing globally and domestic strengthening
The Minister expressed his vision for India to surpass China in textile exports, noting rising costs in Bangladesh as an opportunity. He advocated for the development of small clusters for minor players to enhance ready-made garment (RMG) exports. Additionally, Singh called for the revamping of textile parks and promoting green textiles to sustain growth.
Singh encouraged the adoption of the 'hub and spoke' model to boost domestic manufacturing and industry collaboration. He underscored the necessity of establishing strong Indian brands and announced plans to revive the Scheme for Integrated Textile Parks.
Address by AEPC Chairman and future outlook
Sudhir Sekhri, Chairman of AEPC, acknowledged the challenges faced by Indian apparel exports due to global economic headwinds but highlighted a recent 9.8 per cent increase in exports in May 2024. He expressed confidence in overcoming these challenges under the leadership of Prime Minister Modi and Minister Singh.
Mithileshwar Thakur, Secretary General of AEPC, noted the optimistic forecast by the IMF, with the world economy expected to grow at 3.2 per cent in 2024 and 2025, and global inflation projected to decline. Thakur urged the Indian apparel industry to capitalize on these opportunities and expand its global footprint.
The IIGF will feature knowledge sessions on June 25 and 26, covering topics such as global trade challenges, manufacturing excellence, and sustainable fashion. These sessions aim to equip industry stakeholders with insights and strategies for growth.
Collective efforts and fashion showcases
Organized by the AEPC through the International Garment Fair Association (IGFA), in collaboration with the Clothing Manufacturers Association of India (CMAI), Garment Exporters & Manufacturers Association (GEMA), and Garment Exporters Association of Rajasthan (GEAR), the fair exemplifies the collective effort and teamwork within the industry. The 71st edition will also host two daily fashion shows from June 25 to 27, showcasing premier collections from exhibitors.
The India International Garment Fair continues to be a pivotal platform for the Indian textile industry, fostering international trade relationships and showcasing India's manufacturing prowess.
Fast fashion's grip on the clothing industry may be loosening, as a growing movement – slow fashion – takes root. Fast fashion, with its emphasis on cheap, trendy clothes and frequent turnovers, has dominated for decades. However, a growing awareness of its environmental and social costs has led to the rise of slow fashion – a movement promoting ethical production, quality garments, and mindful consumption.
The rise of slow fashion, a measured emergence
Data suggests slow fashion is gaining traction. A Global Fashion Agenda 2022 Pulse Survey revealed that 63 per cent of fashion executives believe sustainability will be a key competitive differentiator within the next three years. This shift is driven by a growing consumer base concerned about the environmental and ethical impact of fast fashion. A McKinsey & Company report: states that 60 per cent of millennials are willing to pay a premium for sustainable products. . The rise of resale platforms like ThredUp (reportedly valued at $1 billion in 2021) and Patagonia's worn wear program further highlight a shift in consumer behavior.
Growth drivers: Ethics, environment in focus
Several factors fuel slow fashion's rise. Ethical concerns about garment worker rights and fair wages are a major motivator. The Rana Plaza garment factory collapse in 2013 tragically highlighted the dangers of fast fashion's exploitative practices. Exploitative labor practices in fast-fashion factories have been exposed, pushing consumers towards brands committed to fair wages and safe working conditions. Environmental consciousness is another key driver. A 2020 McKinsey report estimates the fashion industry is responsible for 10 per cent of global carbon emissions. Consumers, particularly millennials and Gen Z, are increasingly concerned about sustainability and are seeking eco-conscious alternatives. Patagonia, a leading outdoor apparel brand, exemplifies this shift. The company prioritizes recycled materials and encourages customers to repair worn-out gear, fostering a culture of mindful consumption. Also,slow fashion emphasizes well-made, timeless pieces that last longer, appealing to those seeking value over fleeting trends.
Challenges in slow fashion's growth
Despite its momentum, slow fashion faces hurdles. Higher production costs due to quality materials and ethical labor practices can translate to steeper price tags making it less accessible to budget-conscious consumers. Transparency throughout the supply chain is another challenge. Consumers need clear information about a garment's origin and production process to make informed choices. While awareness is growing, many consumers remain unfamiliar with slow fashion options or struggle to differentiate between genuine and performative sustainability efforts by brands. Moreover, fast fashion's dominance, aggressive marketing strategies, and convenience still pose a significant challenge.
The embrace of slow fashion varies geographically. Europe, particularly Germany and Scandinavia, leads the way, driven by strong consumer awareness and government regulations promoting sustainability. North America shows promise, with a growing market for eco-conscious brands. As per Grand View Research, the US market projected to reach $25.2 billion by 2025. However, regions like South Asia, where fast fashion's affordability holds strong appeal, may take longer to adapt. A growing middle class and rising awareness of environmental issues could lead to a shift in these regions.
Segment wise, luxury and premium have a higher profit margin, allowing brands to invest in sustainability initiatives more readily. Consumers in these segments are also more likely to prioritize ethical and environmental factors. The value segment presents the biggest challenge. While some affordable slow fashion brands exist, convincing budget-conscious consumers to pay a premium for sustainable clothing requires a shift in mindset and potentially, government incentives.
Womenswear has traditionally been a bigger driver of fashion trends, making it a natural leader in slow fashion adoption. Menswear and kidswear sectors are showing slower growth, possibly due to a more traditional focus on functionality and durability, which slow fashion inherently promotes. However, there's growing interest in sustainable options for these segments as well.
The future of slow fashion is promising. As environmental concerns escalate and consumer awareness grows, slow fashion is expected to continue its upward trajectory. Technological advancements in sustainable materials and production processes, coupled with government support and increased industry transparency, can further accelerate this growth. However, bridging the price gap and effectively communicating the value proposition of slow fashion remain key challenges.
The fashion industry is on the cusp of a major transformation, driven by a compelling need for transparency and sustainability. Enter blockchain, a revolutionary technology poised to reshape how clothes are made, distributed, and ultimately, consumed.
Tracing the Journey: From farm to final sale
One of the biggest challenges in fashion is a lack of transparency. Blockchain offers a solution with its secure and immutable ledger system. Every step of a garment's journey, from raw materials to finished product, can be tracked and verified. This empowers consumers to make informed choices about the clothes they buy and strengthens brands' commitment to sustainability. For example, Lectra's TextileGenesis partnered International Cotton Association to promote ethical trade and sustainability.
Combating counterfeiting
Counterfeiting is a multi-billion dollar problem, damaging brands and potentially posing health and safety risks. Blockchain can significantly reduce counterfeiting by creating a unique digital identity for each product. This allows for easy authentication and exposes counterfeit items. Aware Traceability Platform for example, offers a user-friendly solution for brands to implement blockchain in their supply chains.
Streamlining the supply chain
Fashion supply chains are complex, involving numerous stakeholders. Blockchain acts as a centralized platform, streamlining communication and data sharing. This translates to faster information retrieval, lower operational costs, and a more agile and responsive industry. Martine Jarlgaard pioneered the use of blockchain in fashion with garments featuring smart labels that recorded every step of the manufacturing process.
Early days, big potential
While the promise is undeniable, blockchain adoption in fashion is still in its early stages. Challenges include the cost of implementation, the need for industry-wide standards, and ensuring data privacy. Additionally, the fragmented nature of the industry and varying levels of digital readiness pose hurdles.
Industry collaboration is a must for blockchains success, widespread adoption requires collaboration among brands, suppliers, and retailers. Implementing blockchain can be expensive, especially for smaller companies with limited digital infrastructure.
The road ahead
Phased approach: Experts recommend starting small, focusing on tracing a specific product line or aspect of the supply chain.
Focus on practical applications: Focus on projects that address specific needs, such as ethical sourcing or counterfeit prevention.
Collaboration is key: Industry collaboration is crucial to overcome challenges and unlock the full potential of blockchain.
While blockchain is still in its early stages in fashion, it has the potential to be a game-changer. By embracing this technology, brands can become more transparent, sustainable, and efficient, ultimately benefiting the entire fashion ecosystem.
