FW
The proposed rise in corporate tax for the Bangladeshi Garment sector is likely to hurt the flow of fresh investment as entrepreneurs will feel discouraged to inject fresh funds.
Finance Minister AMA Muhith had earlier proposed rising the corporate tax rate for the garment sector to 12 per cent from the earlier
As per Muhith's plan, the corporate tax for non-listed garment makers will be 15 percent in the next fiscal year from 12 percent now. He also raised the rate for green garment factories to 12 percent from 10 percent.
The minister, for the first time, imposed a 12.5 percent corporate tax on the listed garment companies.
There are about 5,500 garment factories in Bangladesh, but only a handful of them are listed on the stockmarket.
Cone Denim recently announced to expand its S Gene collection with TENCEL x REFIBRA branded lyocell fibers. The move means Cone Denim is the first fabric producer in North America to use these fibers for denim. Cone Denim’s new fabrics will be made in its North America mills, and Cone Denim has featured its new denim collection at Kingpins New York.
Tricia Carey, director of global business development for denim at Lenzing the new fabrics from Cone clearly demonstrate that sustainability and denim are beautifully compatible concepts.
With TENCEL x REFIBRA Lyocell being the only commercially available fibers made from recycled cotton and wood pulp, the presence of these efforts means Cone Denim gets to improve denim’s sustainability without losing any of its application. Cone 3D R&D team continues to explore and push the boundaries in developing the next evolution of sustainable denims.
Kara Nicholas, Vice President Product Design plus Marketing for Cone Denim says that denim consumers want authentic yet innovative products that maximize comfort, style, and performance they also want to know that their favorite jeans are responsibly made and remain sustainable at the end of their lifecycle when finally discarded.
With the country importing up to 10 million to 15 million bales (2 million to 3 million tonnes) each year by 2019/20, China is set to return as a major cotton importer.
The country’imports are expected to be around 5 million bales in 2017/18.
Cotton imports of China had seen its imports shrink from more than 5 million tonnes in 2011/12 to around 1 million tonnes last year, due to its efforts to reduce state stockpiles of the fibre.
Now, after several years of auctions to low state stocks and with demand improving, buyers are expected to return to the market to supplement a production deficit at home.
Domestic usage of cotton is expected to increase by 1.5 million bales to 41.5 million bales in 2018/19.
China has agreed to significantly increase its purchases of American goods and services, and cotton is one of the top agricultural exports of the United States.
The industry is also lobbying for more cotton supplies amid a hike in prices that could drive more manufacturers to use cheaper manmade fibres instead.
Chile and Pakistan may sign a free trade agreement (FTA) within six months.
This would enable Pakistan to enhance exports of its textiles, leather, surgical and sports goods to the South American country.
Pakistan participated in a recent exhibition in Chile displaying textile, agriculture, sports, surgical instruments, marbles, gems and jewelry, carpets and furniture, and beauty products.
This is part of several initiatives taken by Pakistan to explore Latin American markets. Chile is one of the most free and liberal economies in South America.
Pakistan has a positive trade balance with Chile. Pakistan’s main exports to Chile are cotton yarn, yarn and thread of synthetic fibers, cotton fabrics (woven), synthetic fabrics, made-up articles of textile materials, carpets and rugs and apparel and clothing. Main imports are wood pulp, seeds, chemicals and machinery and electrical equipment, chemical elements and compounds.
Chile is interested in joint partnerships with Pakistan in the field of technology, exploration and diversification of its export mix, while Pakistan is looking to expand its export base in non-traditional markets.
The current trade flows are much below the trade potential between the two countries.
Both sides have agreed to the formation of a joint feasibility group to explore the possibility of a free market arrangement between the two countries.
According to a study by consultancy Bain, casual luxury is driving global sales of high-end apparel, footwear and handbags as big-spending consumers are opting for popular choices in T-shirts, sneakers and rubber sliders.
This trend of casual fashion is driven by Millennials, with help also from their comfort-seeking parents and the next generation of consumers, teens.
It is helping boost sales of personal luxury items including apparel, footwear and handbags, to upwards of 280 billion euros (329 billion), up 8 percent from 260 billion euros in 2017.
While a strong euro is penalizing sales to tourists in Europe, local consumers are filling the void to keep the market steady with a projected growth of 2-4 percent.
Younger consumers who had long been detached from luxury are now buying individual elements that appeal to them.
The demand for casual and street wear gives the luxury producers a new creative outlet — such as luxury Birkenstock-style footwear. And it is also giving household names like Fila, Nike, Adidas and Birkenstock more access to big-spending consumers of luxury goods, D’Arpizio said.
Hubbub has launched a campaign which is seeking to achieve the same kind of media exposure for textile microfiber pollution as has been received by single-use plastics and wet wipes.
The campaign is also looking to educate consumers on how to combat this type of microfiber pollution through changing domestic laundry practices and taking a different approach to the apparel they buy.
Hubbub is a non-profit organisation which promotes environmental causes. it will use the latest scientific research – which is, as yet, at a very early stage – to create numerous campaigns encouraging people to engage with the environmental impact of clothes, helping them to play an active role in reducing microplastics.
The textile microfiber pollution problem has garnered an increasing amount of media attention over recent months. In the UK, the focus seems to be shifting toward this particular area of marine pollution.
Hubbub includes reference to the fact that microfiber shedding is not exclusive to synthetic apparel.
The campaign includes guidelines for consumers like choosing clothes which are more durable; washing clothes only when needed since microfibers are released in the wash.
The campaign is supported by The Campaign for Wool, an organisation representing an industry which uses the issue of microfiber pollution to promote the virtues of its natural fiber.
"As per the European Clothing Action Plan, Europeans consumed over 6.4 million ton of clothing in 2017. France alone discards 600,000 ton of clothing and accessories per year, reveals a case study by the Ellen MacArthur Foundation, of which only a quarter is collected in recycling bins or charity shops. Under the country’s circular economy roadmap, lawmakers are planning to impose a ban on unsold clothing just the same way it passed a law preventing supermarkets from throwing away or destroying unsold food two years back. With the Prime Minister Édouard Philippe at the helm, by 2019 new regulations or incentives would prohibit brands from discarding unsold clothing into landfills or through incineration, instead requiring sustainable measures like recycling or donating to charity shops."
France has been leading the eco-friendly countries’ race globally. From a solar-powered road to up cycled installations, the country has continuously found creative ways to make environmentalism its mission. Following in the footsteps of a 2015 food waste law, the French government has turned its attention to textiles, making it illegal for retailers to throw away unsold clothing.
As per the European Clothing Action Plan, Europeans consumed over 6.4 million ton of clothing in 2017. France alone discards 600,000 ton of clothing and accessories per year, reveals a case study by the Ellen MacArthur Foundation, of which only a quarter is collected in recycling bins or charity shops. Under the country’s circular economy roadmap, lawmakers are planning to impose a ban on unsold clothing just the same way it passed a law preventing supermarkets from throwing away or destroying unsold food two years back. With the Prime Minister Édouard Philippe at the helm, by 2019 new regulations or incentives would prohibit brands from discarding unsold clothing into landfills or through incineration, instead requiring sustainable measures like recycling or donating to charity shops.
The initiative is a part of the proposed Circular Economy Roadmap, which outlines 50 measures for France to become a circular, sustainable economy —
one that moves away from a linear ‘take, make, dispose’ model towards a model of restoration and regeneration. The details of the entire move are yet to be outlined, according to legislators, it may include potential tax breaks for companies that re-use or recycle clothing, rather than dump them in a landfill, thereby linking sustainable practices with profit. Regardless, it is not likely to be a fully-fledged law, but rather an incentivised proposal. Moreover, it would also include potential tax breaks for companies that re-use or recycle clothing. Francois Souchet, lead of the Circular Fibres Initiative at the Ellen MacArthur Foundation, stated now is the time for the fashion industry to ensure their products are used more. Whether it’s through pressure from legislators or consumers, a lot of signals say the time is right for the industry to rethink their business model.
Ways to achieve sustainability
The Ellen MacArthur Foundation, which worked with the French government on the scheme, outlines three areas of action that brands can take. First, set up new business models that move away from a classic retail model. Second, innovate and use recyclable materials. Third, make clothes to be made again by incorporating recycling into the design process. On this move, French luxury house Chanel has stated it avoids (the practice of disposing off unsold clothing) and does everything possible to eradicate it. Chanel’s strategy of producing collections only when it receives orders from buyers’ cuts down considerably on unsold stock. It is also planning to recycle unsold items.
Most companies have a tough task in managing their sustainability goals, for instance, last year, H&M was accused of burning 12 ton of new, unsold clothing per year (although the fast fashion chain denied the claims). Meanwhile, Louis Vuitton has long been rumoured to burn all unsold bags to avoid lowering brand cachet by selling discounted items in stores. On changing paradigms, Souchet asserted the opportunity is to disconnect revenues from resource consumption and satisfy changing customer needs. Brands need to align the design and business model.
Due to new data and information received after publication of the 40th International Textile Machinery Shipment Statistics (ITMSS 2017) last month, the International Textile Manufacturers Federation (ITMF) has revised its statistics for the year 2017.
As per the new data available, the growth in the short-staple spindles has been revised 8 per cent from the earlier 21 per cent. Open end rotors during the period reported zero per cent growth as against 24 per cent published earlier.
However the growth figure for shuttleless looms was increased to 14 per cent from the earlier 13 per cent. The growth in fabric discontinuous was increased to 70 per cent from the earlier 44 per cent; while the growth in fabric continuous was increased to 5 per cent from the earlier zero per cent.
SANTEX RIMAR GROUP has appointed Simone Rancan, former SMIT CEO, as new CEO of the group thus ensuring continuity and a smooth transition.
Joining the group in 2016 as its SMIT CEO, Rancan started his career in Sperotto Rimar and later managed important companies of the weaving and spinning sector.
Stefano Gallucci has been nominated as the CEO of CenterValue, a manufacturer of highly automated medical systems for the diagnosis and management of ocular pathologies based in Italy and USA controlled by SANTEX RIMAR GROUP shareholders.
The company has also announced a structural architecture involving mechanics, electronics and communication systems to provide the most advantageous weaving machine configurations for production of high quality fabrics.
The system is versatile enough to be upgraded anytime, can incorporate custom made self-retaining grippers and is engineered for a wide range of weft material and counts, according to a company release.
London Fashion Week Men’s (LFWM) is taking place June 8 to 11. This is a bi-annual showcase of the most creative and innovative names in the fashion industry.
It features over 50 designer businesses and welcomes guests from over 45 countries.
LFWM brings together an international audience of global media and retailers supported by industry creatives, collaborators, brands and businesses from China, France, Germany, Italy, Japan, South Korea, Spain, the US and UK. There are catwalk shows, experiential activations, pop up shops and performances from alternative hip hop to classic tailoring and previews of collections from international design houses and award winning British designers.
Internationally celebrated designers Alex Mullins, Berthold, BLINDNESS, COTTWEILER, Edward Crutchley, MAN, Matthew Miller, PRONOUNCE, Sharan Wauchob, and Qasimi will hold catwalk shows.
London is an international hub for menswear. The men’s clothing market grew by an estimated 3.5 per cent in 2017. Menswear now accounts for 26 per cent of the total clothing market. Menswear is predicted to grow by 11 per cent between 2018 and 2022.
Since the inception of a dedicated menswear fashion showcase in London in June 2012 over 430 designer brands have been part of over 750 catwalk shows, presentations, performances and events.
