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The preparation for 'Preview in Seoul 2014 (PIS)' exhibition organized by the Korea Federation of Textile Industries, to be held from September 3 to 5 at the COEX Hall, has commenced. Celebrating its 15th anniversary this year, the exhibition promises new experiences for exhibitors and visitors.
Korea Federation of Textile Industries (KOFOTI) has organized a strategy committee with participating exhibitors, buyers, exhibition agencies, consulting firms, and other related experts to upgrade the exhibition experience. Since its first edition in 2000, PIS has become Korea’s professional textile exhibition, and from 2005, it has been nominated as a certified international exhibition every year by the Ministry of Trade, Industry, and Energy (MOTIE), thereby establishing its reputation as a credible source.
Shifting to a much bigger venue, this time, the organisers have fulfilled the wishes of several exhibitors, who want to display their product selection. In the global textile market, Korea’s export of textile goods has augmented. No wonder, PIS, initiated as an international textile exhibition in Korea, soon turned to be a one stop sourcing collection system of both domestic and international yarns and materials, apparel enterprises, subsidiary companies, and digital print companies. Moreover, the exhibition endeavors to become a professional source of innovative and unique fashion and textile trends.
The recent popularity of well-being lifestyle and leisure sports spread wildly in Korea, and the Korean outdoor market is estimated to be the second largest in the world. The upcoming Pyeong Chang Winter Olympics in 2018 will further intensify global interest in the Korean outdoor market. Moreover, the projected prospective growth of the Chinese market increases the possibility of success of the Premium Outdoor Section.
During the exhibition period, new technology, material, fashion, and trend related experts will conduct seminars, an outdoor fashion show, and a brand PT show as well as a variety of other events are also lined up.
www.previewinseoul.com
Leading chemical fiber company from Korea, Hyosung & Kolon is participating in the forthcoming edition of ‘Preview in Seoul 2014’ (PIS), after a long gap of eight years. At the end of May, Hyosung, Kolon FM, and other 130 domestic and foreign companies submitted their applications to exhibit at PIS.
This year’s PIS will consist of rapidly growing outdoor market and local
Chinese brands at the ‘Premium Outdoor Section’, ‘Powerful Apparel Sourcing Section’, ‘Eco-Material Section’, ‘Functional Material Section’, ‘DTP Section’, and ‘Subsidiary Section’. ‘Premium Outdoor Section’ will not only offer outdoor products but also materials that can link different markets, and ‘Powerful Apparel Sourcing Section’ will consist of global apparel vendor companies that have strong competitiveness in the global market.
At a prior briefing, KOFOTI announced the main theme of the exhibition which is: ‘ab-REAL’. ‘ab-REAL’ is a new trend that connects ‘Tactile’ and ‘Fantasy’ together and can portray a fusion of practical suggestions and innovative future market trends. The exhibition’s theme is also further divided as ‘Tricky Ordinary’ (every day’s tricks), ‘Melting Chaos’ (mixed by novelty), and ‘Innovative Fantasy’ (fantasy by technology).
Better Cotton Initiative has become a member of ISEAL alliance, a global membership association for sustainability standards. BCI met the three baseline criteria codes: standard setting, impacts and assurance. Adoption of ISEAL practices by sustainability initiatives provides companies an assurance that the initiative is credible and not just a marketing program or awareness-raising campaign.
Membership of ISEAL demonstrates that Better Cotton Initiative’s global standards program follows credible and effective practices. Following the approval, BCI can now work with other ISEAL members to improve its effectiveness and help demonstrate impact as well as look towards building confidence in its stakeholders that a standard or a label is making a difference to Better Cotton production. In 2013, nearly 7,49,000 tons of Better Cotton were produced through 210 licensed farmers. The year also saw two new brand signatories to the Better Cotton Fast Track Program – Tesco and Tommy Hilfiger.
The International Social and Environmental Accreditation and Labeling Alliance was founded in 2002. It is the global association for social and environmental standards. It works with companies, non-profit organisations and governments. ISEAL members are committed to creating standard systems that give business, governments and consumers the ability to choose goods and services that have been ethically sourced and that help the environment and guarantee producers a decent living.
www.isealalliance.org/
The rift between the North American retailers group Alliance and the European group Accord over garment safety inspection in Bangladesh has surfaced again as Accord has declined to accept inspection of any factory by any individual retailer under Alliance. Bangladesh garment factory owners say this stance of Accord would add to the problems of the embattled garment industry. This means more than 200 factories will have to be inspected again even after this has been done by American retailers under Alliance.
Accord says it would consider inspection reports of Alliance on some conditions. All corrective action plans for a faulty unit will have to meet the approval of Accord and all Accord obligations will remain in full effect for Accord brands regardless of whether Alliance brands accept these obligations.
European retailers feel that Alliance is lenient in factory inspection. Accord, on the other hand, has been criticised for its tough stance on the inspection process and its reluctance in giving any fund to workers of any factory closed during the inspection. After the Rana Plaza factory collapse on April 24 last year that killed more than 1,100 people, mostly garment workers, western retailers and apparel brands, reacting to public outrage, began a major push to improve safety at the Bangladeshi factories they do business with. But instead of joining forces, the western brands have divided into two feuding camps.
Planet Textiles will take place on March 19, 2015 in Shanghai. This event addresses the environmental and social impact of the global textile supply chain. Planet Textiles debuted in Hong Kong in 2009. The 2015 event will have sportswear giants, textile mills, brands, retailers and other organizations.
Planet Textiles is attended by buying houses, wholesalers, importers, sourcing agents, manufacturers of apparel fabrics and garments, international fashion retailers and brands, fashion designers, and textile consultants. And for the first time Planet Textiles will be held alongside Intertextile Shanghai Apparel Fabrics. This is an exhibition that has previously attracted over 69,000 visitors and 3,700 exhibitors. It also features the unique ‘All About Sustainability’ zone, which complements the Planet Textiles Summit and means Shanghai will be a must-visit destination in March 2015 for retailers and brands looking to source sustainable textiles.
Intertextile Shanghai Apparel Fabrics is one of the foremost events for apparel fabrics and accessories. It attracts a large number of manufacturers, wholesalers, importers, retailers, exporters from around the world. The product groups includes fabrics such as cotton, wool, silk, linen, ramie, man-made, knitted, coated, lingerie and swimwear fabrics, functional fabrics, printed fabrics, fibers and yarns, embroidery and lace accessories, textile-related CAD/CAM/CIM technology. <br/>
10times.com/intertextile-shanghai-apparelfabrics
Specialty Fabrics Expo 2014 and Advanced Textiles Expo will be held Minneapolis, Minnesota, US, October 14 to 16, 2014. The event is the largest specialty fabrics and technical textiles trade show in the US and is organized by the Industrial Fabrics Association International (IFAI).
The fabrics show will focus on the needs of traditional market segments, while the Advanced Textiles Expo will meet the needs of the high end of the industry supply chain, serving goods suppliers, materials and other products and services for advanced applications as well as advanced product fabrication.
The show will also feature comprehensive programming designed to help attendees understand the current specialty fabrics markets, end-user applications, emerging markets, advanced technologies and the future of fabric products.
Minneapolis is the backdrop for decision makers and influential goods and services providers from across the industry and around the world as they come together to research, buy, network and learn. The business climate in Minneapolis is top-notch as the area is headquarters to 20 Fortune 500 companies and is the heart of the country’s bio-medical industry.
The Industrial Fabrics Association International is the world’s leading and longest-running specialty fabrics trade organization since 1912, with nearly 1,800 member companies located in 55 countries. It publishes seven market-specific magazines and organizes global industry events.
ifaiexpo.com/
India is expected to have a good cotton crop in the new season beginning in October 2014. Hopes are that the production will be at least 37 million bales. With similar prospects for US this year, the world’s cotton crop will probably be a bounty.
Price volatility is a major concern for spinners in India. Several associations are pleading with the Cotton Corporation of India to ensure supply throughout the year at a stable rate. Earlier, cotton prices were season-dependent and rate changes were expected only four times in a season. Now, with the advent of technology, price fluctuations happen on a daily basis.
Cotton prices have retreated to the lowest level in nearly five years as investors worry that global production could overwhelm demand for the fiber. The US, the world’s biggest cotton exporter, is expected to produce a large crop in the season that begins August 1. But global demand is likely to fall short, especially with top importer and consumer China wrapping up a two and a half year stockpiling program.
Although the monsoon has arrived in India, the volume of precipitation has varied widely and yield is likely to suffer in some places. The disappointing monsoon appears to have cost India the chance of overtaking China as the world’s top cotton grower.
Pakistan wants to take its textile exports to $150 billion by 2025. The Vision 2025 paper lists out developing human and social capital, achieving sustainable indigenous and inclusive growth, modernisation of public sector, energy, water and food security, public sector-led growth and entrepreneurship, developing a competitive knowledge base through value addition, modernisation of transport infrastructure and greater regional connectivity as it focus area.
Emphasis has been given to entrepreneurship development and private sector-led growth in the program. A bigger role has been envisaged for private sector organisations and entrepreneurs to contribute more effectively to the growth of the economy and development of the country. Technology constraint has emerged as one of the main hurdles for Pakistan. The government has announced many incentives for the textile sector in the recently announced federal budget including technology up-gradation.
Pakistan is in dire need of enhancing exports to provide some cushion to its sagging economy and to ensure sustainable economic growth. The textile industry is the most important manufacturing sector of Pakistan and has the longest production chain, with inherent potential for value addition at each stage of processing, from cotton to ginning, spinning, fabric, processing, made-ups and garments. The overall sector contributes nearly one-fourth of industrial value-added, consumes more than 40 per cent of banking credit to manufacturing sector and accounts for 8 per cent of GDP.
However, despite being the fourth largest producer and the third largest consumer of cotton globally, Pakistan’s comparative advantage is largely pre-empted by low value-added exports.
A free trade agreement is being negotiated between the European Union and Vietnam. The FTA may be completed before the end of the year. But European retail clothing brands want duties on apparel to be eliminated. They also want more flexible rules of origin.
The European Branded Clothing Alliance (EBCA) says the EU-Vietnam FTA is a priority and is welcome but it looks forward to a global trade policy environment which eases the operation of its supply chains. To be able to benefit from new preferential tariffs, EBCA says its member companies require a more flexible approach from the EU on rules of origin for apparel, reflecting the global value chains it operates. Since Vietnam has limited fabric production available to international brands, EBCA says this could severely restrict its ability to benefit from reduced tariffs if the current model for rules of origin is maintained.
The group also wants to see the FTA address non-tariff barriers that hinder European retailers setting up operations in Vietnam, such as cumbersome economic assessment tests and quality testing on apparel consignments.
The European Branded Clothing Alliance represents around 60 brands with a major European presence - including Inditex, H&M, Levi Strauss, Gap, Nike and VF Corporation.
www.ebca-europe.org/
Bangladesh's exports to China made a quantum leap in the last fiscal year. Over the last four years, the volume of exports to the Chinese market increased more than four times. Export earnings from China in July of fiscal 2014-15 grew by 53.88 per cent compared to the corresponding period.
Items Bangladesh exports to China include readymade garments and textiles, fish and crabs, leather and leather goods, jute and jute-yarn and plastic waste. Apparel constitutes a third of the exports. China is gradually drifting away from basic readymade garment items because of the high cost and switching over to high-tech industries. This has given Bangladesh a big scope to grab the market. Also China gives Bangladesh zero-tariff access.
Currently, Bangladesh as a least-developed country gets duty-and quota-free access for 4,788 products to the Chinese market. The trading list accounts for 67 per cent of the country's export basket. Chinese investors are coming to Bangladesh to explore export possibilities. Bangladesh's apparel exports could triple by 2020 as European and US buyers also plan to strengthen their presence in the country. Bangladesh considers China as important a market as Japan and Russia and is aiming to push up exports to China to a billion dollars within a couple of years.
