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As a part of a potential bankruptcy filing expected next month, fast-fashion retailer, Forever 21 plans to close at least 200 more stores in the US. The company will sell remaining approximately 350 stores. It will opt for a complete liquidation of its US operations if it fails a find a suitable buyer for the company.
At its peak, Forever 21 boasted over 500 stores across the US and 800 globally. According to a representative for Catalyst Brands, the operating company that licenses the Forever 21 brand in the US, they are exploring options, including a potential sale, while also focusing on cost reduction and store footprint optimization.
Sources indicate, some of the targeted stores have been unprofitable for years, with Forever 21 often delaying royalties and rent payments to keep them operational. The Forever 21 trademark and intellectual property are owned by Authentic Brands, which licenses them to Catalyst Brands.
A unit of JCPenney and owner of the Lucky Brand owner, Catalyst Brands acquired the operating company in January. Previously, it was owned by Sparc Group, a joint venture between Authentic Brands and major Forever 21 landlords Simon Property Group and Brookfield Properties, formed after Forever 21's 2019 bankruptcy.
Regardless of the US operating company's fate, Authentic Brands will retain ownership of the Forever 21 brand and intends to license it to other retailers and distributors.
A much-anticipated large-scale procurement by the Cotton Corporation of India (CCI) at MSP has marginally increased cotton candy prices in India.
CCI aims to purchase over 10 million cotton bales this season despite a decline in production forecasted by the Cotton Association of India (CAI) due to lower yields in key producing regions. As per the CAI report, India’s cotton production is expected to decline to 30.175 million bales this season from 32.745 million bales the previous season.
Total cotton supply is estimated at 23.426 million bales, comprising fresh pressings, imports, and opening stock. Domestic consumption is projected to remain stable, while exports are expected to decrease.
Globally, Brazil's cotton production is forecast to increase, driven by expanded planting area. In the US, domestic mill use has been slightly reduced, but global cotton consumption is seeing marginal increases due to higher demand in several countries.
Market analysis suggests short covering, with open interest decreasing. Support levels for cottoncandy are identified, while resistance levels are also noted, indicating potential price movements.
Despite cotton prices remaining higher than international rates, demand across India’s textile sector will continue to improve, according a new report by Systematix International Equities Research. Spread across upcoming quarters, this improved demand will help profitability and operational efficiency for Indian textile companies, the report adds.
Several factors contribute to the positive demand outlook. Global retailer inventories are normalizing, the US may implement higher tariffs on Chinese goods, labor costs are rising in Vietnam, and Bangladesh faces political instability. These factors position India as a potentially strong player in the global textile market. However, capacity constraints among Indian garment manufacturers could hinder their ability to fully capitalize on the increased demand, the report adds.
Despite this, stable cotton prices, favorable exchange rates, and a focus on operational efficiency will help improve profitability. Indian textile companies have already demonstrated strong year-over-year performance, with revenue, EBITDA, and PAT showing healthy growth. Subdued cotton and stable yarn prices have contributed to gross margin expansion for spinners.
The Union Budget 2025-26 reinforces this positive outlook, focusing on strengthening the textile sector through cotton productivity initiatives, fabric duty restructuring, and support for domestic manufacturing. Increased budget allocation for the sector, coupled with initiatives like the PLI scheme, focus on man-made fibers, a five-year productivity improvement mission, sustainable cotton farming, and the growing technical textiles market, are expected to further propel growth. Increased customs duty on fabric imports will specifically benefit India's technical textile producers.
While the Cotton Association of India (CAI) has lowered its cotton production forecast for the 2024-25 season, the ICAR-Central Institute of Cotton Research (CICR) projects a higher output. This discrepancy adds some uncertainty to the supply outlook. International cotton prices have declined, while Indian prices remain at a premium. However, a reasonable cotton crop is expected to keep prices stable, ensuring predictable input costs.
Presenting a significant challenge to the retail industry, consumer spending, especially on luxury items, seems to be slowing in 2025. Inflation fatigue and economic uncertainty are fueling a new wave of austerity, impacting luxury retail hardest. Gaining traction on social media, the no-buy 2025 movement, particularly among Gen Z, is encouraging minimal spending, focusing only on essentials.
Citing a slowing global economy and changing consumer habits, many brands are experiencing a period of ‘reckoning’ in 2025, says a new report by McKinsey for The Business of Fashion.’
As per this report, high-end brands are already feeling the pinch of this trend. World's largest luxury brand, LVMH registered a decline in sales during the December quarter. The brand’s net income and profit margin also declined significantly. As per experts, this is a result of wrong decisions of luxury brands including excessive price increases and over-reliance on specific product categories.
Despite strong stock markets and home values, affluent consumers seem hesitant to make purchases. They are being prompted by geopolitical tensions and economic uncertainty to protect their wealth. Younger generations and average consumers are deferring unnecessary purchases, notes the report.
Retailers, from Walmart to Ferragamo, need to adapt to this growing trend, the report states. They need to understand customers needs and deliver accordinglyl. The growing ‘No Buy 2025’ movement demands, brands cater to the priorities of the new generation of shoppers.
The National Council of Textile Organizations (NCTO) has appointed Katherine White as its new Vice President of Policy, effective February 18, 2025.
White will lead policy initiatives critical to the US textile industry and support NCTO’s lobbying efforts in Washington, DC.
“We are excited to welcome Katie to NCTO,” said President and CEO Kim Glas. “Her expertise and deep engagement in textile policy will be invaluable in advancing our advocacy agenda.”
White expressed enthusiasm for her new role. “The US textile industry is a strategic manufacturing sector and vital to our national economy and defense,” she said. “I look forward to working with NCTO and its members to strengthen industry competitiveness and growth.”
Previously, White served as the US Trade Representative’s (USTR) Chief Textiles and Apparel Negotiator and as an International Trade Policy Advisor on the House Ways and Means Committee. She played a key role in shaping US trade laws, focusing on de minimis regulations, customs enforcement, and trade agreements like the USMCA.
Her experience includes working at the International Trade Administration, the White House’s National Economic Council, and on Capitol Hill, where she collaborated with the textile and apparel industry on trade legislation.
A North Carolina native, White holds a Master of Public Policy from Duke University and dual Bachelor of Arts degrees in Political Science and International Studies from the University of North Carolina at Chapel Hill.
Kontoor Brands has signed a definitive agreement to acquire Helly Hansen, a global outdoor and workwear brand, from Canadian Tire Corporation. The acquisition aligns with Kontoor’s strategy to expand its portfolio beyond Wrangler and Lee, accelerating growth and enhancing its global presence.
Scott Baxter, CEO of Kontoor Brands, emphasized the synergy, stating, “Helly Hansen’s heritage, quality, and innovation make it a perfect fit for our expansion strategy.” The acquisition is expected to strengthen Kontoor’s position in the growing outdoor and workwear categories, leveraging its operational expertise to scale Helly Hansen globally.
Financially, the deal is positioned to drive revenue and earnings growth, with expectations of improving Helly Hansen’s profitability and cash flow through operational efficiencies. Kontoor’s EVP and CFO, Joe Alkire, highlighted the company’s strong balance sheet, ensuring a smooth acquisition process with funding from cash reserves and new debt financing.
Key benefits include diversification across geographies, categories, and consumer demographics. Kontoor aims to double Helly Hansen’s operating margin, optimize supply chain efficiencies, and enhance international market penetration. The deal is also expected to provide access to a younger, more affluent consumer base.
The transaction, approved by Kontoor’s Board of Directors, is set to close in Q2 2025, pending regulatory approvals. With immediate earnings and cash flow accretion expected in 2025, the acquisition underscores Kontoor’s commitment to long-term value creation.
Gildan Activewear Inc has announced key executive leadership changes as part of its long-term succession plan.
Chuck Ward, currently President of Sales, Marketing, and Distribution, has been named Executive Vice President and Chief Operating Officer (EVP & COO), a newly created role, effective March 1, 2025. He will continue reporting to President and CEO Glenn J Chamandy. Ward, who joined Gildan in 2011 through the acquisition of GoldToe Moretz, has held leadership roles across sales, supply chain, and manufacturing.
Additionally, Rhodri (Rhod) J. Harries, EVP, Chief Financial and Administrative Officer, has announced his retirement effective January 1, 2026. To ensure a smooth transition, Luca Barile, currently CFO of Sales, Marketing, and Distribution, will assume the role of EVP and Chief Financial Officer on March 1, 2025.
Harries will continue as Chief Administrative Officer until his departure. Barile, who joined Gildan in 2012, has extensive experience in financial planning, internal audit, and enterprise risk management.
CEO Glenn J Chamandy praised Harries contributions, stating, “Rhod has played a key role in guiding our financial strategy and ensuring our strong financial position.” He also expressed confidence in Ward and Barile, emphasizing their leadership in advancing Gildan’s Sustainable Growth Strategy.
These leadership moves underscore Gildan’s commitment to continuity and long-term value creation as the company drives forward with its growth objectives.
Karl Mayer Technische Textilien is set to showcase its highly successful Max Glass Eco multiaxial warp knitting machine at JEC World 2025 in Paris from March 4-6. Visitors to stand 5Q128 will see an extensive display of innovative non-crimp patterns and a multimedia presentation.
Designed for cost-efficient production of glass fiber non-crimp fabrics, Max Glass Eco has seen strong demand, particularly in the wind power sector. First introduced at JEC World 2024, it quickly became a bestseller.
"Since launch, we have signed multiple contracts, including major projects, surpassing our initial sales expectations," said Hagen Lotzmann, Vice President Sales. The key markets are China and India.
The Max Glass Eco stands out with its 101” working width, a production speed of up to 1,800 min⁻¹, and an output of 410 m of fabric per hour. Its success is driven by an excellent price-performance ratio and adaptability, with optional features allowing customization for various applications.
Premiere Vision Paris, held from February 11 to 13, 2025, brought together key players in the creative and responsible fashion industry. Focused on know-how, the event reinforced its role in shaping the sector’s global transformation, catering to all segments from mass distribution to luxury.
Returning to its historical agenda, Premiere Vision now features two distinct editions: Savoir-faire in February and Innovation & Tech in September. This year’s event also introduced a forward-looking fashion space, expanding its scope to include beauty. The show continues to grow, setting bold ambitions for its international reach.
Strong global participation
The latest edition attracted nearly 30,000 international professionals from 126 countries, representing over 13,000 companies. Around 1,100 exhibitors from 40 countries, including Italy, France, Spain, Portugal, Japan, the UK, Belgium, South Korea, Turkey, and China, showcased their latest innovations. The Hosted Guests program welcomed 220 key decision-makers, while 1,500 business meetings were facilitated through the Matchmaking program.
Florence Rousson, President of the Premiere Vision Management Board and General Manager of The Creative Pole, highlighted the event’s significance in driving industry growth. She emphasized Première Vision’s commitment to offering a curated, selective platform while personalizing the visitor experience. The event also hosted the annual plenary session of the French Fashion & Luxury Industry Strategic Committee, where over 100 professionals discussed the sector’s future.
High-profile delegations
Première Vision Paris reaffirmed its status as a key platform for global industry development. It welcomed delegations from Portugal, South Korea, Egypt, Tunisia, Brazil, and Indonesia. Representatives from the European Apparel and Textile Confederation (EURATEX), the International Wool Textile Organisation (IWTO), and Quebec’s fashion organization mmode were also present. Additionally, renowned Indian designers, the Moroccan Association of Textile and Apparel Industries (AMITH), and Japan Fashion Week representatives participated in the event.
Strengthening business support
The trade show introduced several initiatives to help businesses navigate industry challenges. The updated Premiere Vision mobile app now features an enhanced directory, instant messaging, an AI assistant, and personalized event planning. The Hosted Guests program facilitated key networking opportunities, ensuring international decision-makers connected effectively. Conference stages hosted 21 talks and 22 pitches, featuring 75 speakers discussing know-how, innovation, and sustainability. The Inspiration Forum showcased Spring-Summer 2026 trends, sustainable craftsmanship, and innovative designs in leather, fabrics, and accessories. The Sourcing Solutions Forum guided professionals in selecting suppliers and eco-friendly materials.
Fashion Director Desolina Suter stressed the growing importance of sustainability in fashion. She highlighted the role of know-how in reimagining a more responsible industry focused on resource conservation and circularity.
Expanding the creative pole
During the event, Florence Rousson unveiled ‘The Creative Pole,’ GL events newly named fashion division. It unites 18 events under three brands: Premiere Vision, Tranoï, and Fashion Source. Additionally, she announced the launch of the International Observatory of Creation, a strategic tool to analyze trends and industry shifts.
Rousson emphasized The Creative Pole’s role in fostering industry transformation, strengthening global connections, and building synergies across the fashion supply chain. She expressed enthusiasm for the upcoming edition, scheduled for September 16-18, 2025, where innovation and technology will take center stage.
Fakir Fashion Limited, one of Bangladesh’s largest vertically integrated garment manufacturers, has implemented Coats Digital’s GSDCost solution to standardise production, enhance cost management, and optimise resources.
Based in Narayanganj, Fakir Fashion produces 300,000 garments daily with over 18,000 employees. It supplies top global brands like H&M, Zara, Guess, and Tom Tailor and has earned accolades such as Best Supplier in Bangladesh by Inditex and Top Global Supplier by Esprit.
Despite its advanced infrastructure, Fakir Fashion faced challenges like inconsistent Standard Minute Values (SMVs), skill gaps, and reliance on manual Excel-based processes. GSDCost will help streamline operations, improve cost accuracy, and reduce inefficiencies.
Managing Director Fakir Kamruzzaman Nahid stated: “As a leading supplier, we continuously invest in innovation to enhance efficiency, competitiveness, and sustainability. GSDCost will standardise our processes, minimise manual dependency, and improve cost predictions, reinforcing our commitment to excellence.”
Coats Digital’s GSDCost solution provides scientifically validated time benchmarks to optimise production, improve line balancing, and cut inefficiencies. Fakir Fashion anticipates at least a 2 per cent productivity boost in the initial phase, alongside cost savings and reduced overtime.
Md Anisur Rahman Bhuiyan, Senior Sales Manager at Coats Digital, welcomed Fakir Fashion’s adoption of GSDCost, emphasizing its role in enhancing efficiency and competitiveness in the apparel sector.
Fakir Fashion plans to integrate GSDCost with its ERP system to enable real-time data insights, ensuring better decision-making and operational transparency. This investment aligns with the company’s strategy to adopt sustainable, tech-driven solutions that support growth while maintaining quality and cost efficiency.
