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Daniel Grieder, Former CEO, Tommy Hilfiger has been appointed as the new CEO of Hugo Boss and also a member of its supervisory board for five years.
As per Fashion Network, Grieder worked for Tommy Hilfiger for more than 20 years and was largely responsible for the successful establishment of the brand in the European market. He became its CEO in 2008 and after the integration of the business into the Phillips-Van Heusen (PVH) Corporation, he became CEO and President of Tommy Hilfiger Global and PVH Europe in 2014.
His appointment comes at a time when Hugo Boss is bouncing back from the pandemic that affected demand for one of its core product areas, formalwear. In recent periods it has worked to introduce more casual clothing into its line-up.
Easing of lockdowns in several states has raised delivery hopes of garment and textile manufacturers whose goods are lying in warehouses. Vinod Thapar, Chairman, Knitwear Club, expects the movement of goods to start in the next 7-10 days though things may not return back to normal as of now, he says.
Harish Kairpal, Finance Secretary, Knitwear Club hopes majority of shops and showrooms are allowed to open in a day or so to enable customers to receive the goods. The company has been getting calls from customers based in states like UP, Rajasthan and Delhi for holding discussions about goods that were in transit or are held up at godowns and offices of the transport ever since the lockdown.
Narinder Mittal, General Secretary, Ludhiana Business Forum, adds, customers are calling for finalizing payment schedule of undelivered consignments as they are confident of getting their goods after their state governments ease the lockdown curbs.
As per the June 2021 edition of Cotton This Month, global cotton production is expected to increase by 5.5 per cent in the 2021-22 season while consumption is expected to increase 2 per cent. The report estimates global trade will increase 2 per cent.
As estimated by the International Cotton Advisory Committed, production is expected to increase to 25.5 million tonne due to an increase in planted area in the US and West Africa. On the other hand, consumption is expected to increase to 25.3 million tonne and global trade is expected to increase to 10 million tone. Global ending stocks are also expected to increase to 22 million tonne as the stocks-to-use ratio declines to 0.87, although China’s stock is expected to decrease as the rest of the world’s expands slightly.
Cotton This Month is published at the beginning of the month with the Cotton Update published mid-month. The Cotton Update, which is included in the Cotton This Month subscription, is a mid-month report with updated information on supply/demand estimates and prices.
Global supplier of wood-based specialty fibers Lenzing has signed a cooperation agreement with Swedish pulp producer Södra, to process 25,000 tonne of textile waste per year by 2024. As per Sourcing Journal, the agreement involves the transfer of knowledge between the two companies, which have been proactively working toward creating a circular economy for many years, and a joint process development followed by a capacity expansion for pulp from post-consumer waste.
Both companies will work together to give textile recycling a major boost by further developing technologies towards a broader, industrial-scale use of post-consumer cellulosic waste. They will use the jointly developed pulp ‘OnceMore as a raw material for producing Lenzing’s Tencel x Refibra branded specialty fibers. Södra will also increase production capacity of the pulp 10-fold during 2022 and have a higher level of recycled textile content, says Lotta Lyra, President and CEO.
With an aim to create a global Industry 4.0 player for the fashion, automotive and furniture markets, Lectra has acquired all outstanding shares of Gerber Technology. As per Innovation in Textiles, these shares worth €175 million were acquired through a loan of €140 million, available cash and transfer of €5 million newly-issued Lectra shares to AIPCF VI, Gerber Technology’s sole shareholder.
The union of both companies’ expertise, state-of-the-art technology and resources will enable Lectra offer long-term value to customers, opines Daniel Harari, Chairman and CEO, Lectra. Founded in 1973, Lectra reported revenues of €236 million in 2020 and is listed on Euronext (LSS). Like Lectra, Gerber Technology develops software and automation solutions for businesses around the world.
An US -based company founded in 1968. Gerber Technology develops software and automation solutions for fashion, automotive, furniture and other businesses across the globe.
Mother of Pearl, Nikolaj Storm Copenhagen and Teatum Jones are the three finalists for this season’s Sustainability Award at the Copenhagen Fashion Week. As announced by online retailer Zalando, the three finalists will present their collections during the fashion week to be held from August 10-13, 2021. The seasonal award aims to encourage brands to explore environmentally friendly alternatives and acknowledges sustainable efforts to improve the industry. It forms a part of Zalando’s sustainability strategy, do.MORE, which works to be part of the solution and aims to address the fashion industry’s waste problem.
The three finalists will receive funds to cover the production costs and will debut their designs in the Zalando Greenhouse - the official hub of Copenhagen Fashion Week that showcases the latest in sustainable fashion. The winner will receive a prize of €20,000 and a partnership with the online retailer in developing an exclusive capsule collection, which represents sustainable advancements and innovation.
India’s cotton yarn/fabrics/made-ups, handloom products exports, grew 24.85 per cent in May 2021 over May 2019, according to the preliminary data on India’s merchandize trade in May 2021 released by the country's Ministry of Commerce & Industry. Exports of jute products, including floor covering, increased 20.99 per cent in May 2021 over May 2019.
However, India’s leather exports of leather declined -36.48 per cent while exports of readymade garments declined 27.59 per cent, and handicrafts excluding hand-made carpet declined 19.48 per cent during the month.
Import of raw cotton and waste declined 39.94 per cent while those of leather and leather products declined 37.19 per cent and textile yarn/fabric/made-up articles’ imports declined by 14.48 per cent.
India’s trade deficit increased 74.69 per cent to $6.32 billion in May 2021 from trade deficit of $3.62 billion in May 2020. Its merchandise exports increased by 67.39 per cent to $32.21 billion while merchandise imports increased by 64.54 per cent to $38.53 billion
British Wool has declared Imogen Ogborne from Devon the winner of new Training & Development program. Member of Lewdown Young Farmers Club, Imogen, began her involvement in wool handling in October 2019 when she secured a job with a contractor in New Zealand. Ever since, Imogen has been passionate about shearing and wool handling and now seeks to improve her skills.
Launched earlier this year, the new British Wool Shearing Training & Development Program offers one winner from each UK nation the opportunity of winning 12 months of training as well as a Lister Shearing prize package worth £500.
At the beginning of the 12 month program, the training will include attending a British Wool machine shearing course, followed by a gear course, a wool handling course and completing the program with a second machine shearing course. The development aspect would give Imogen the opportunity to get advice from experienced British Wool shearing instructors and also, depending on availability and shearing ability, the opportunity to gain on farm experience working with a shearing contractor. During the 12 months program, the four UK winners will also visit British Wool’s head office and wool grading depot in Yorkshire as well as a scouring plant, to follow the wool supply chain process.
More than 150 initial public offerings have priced so far this year with Brooks Brothers’ parent company Authentic Brands Group (ABG) and luxury fashion and China’s fast fashion e-tailer being the latest to launch their IPOs.
As per Sourcing Journal, ABG has acquired many bankrupt retailers including Barneys New York, Brooks Brothers and Lucky Brand. Rescued from a trio of Chapter 11 petitions, the labels join a stable of household-name brands including Aéropostale, Jones New York, Nine West, Vince Camuto, Juicy Couture and Nautica, in addition to Hart Schaffner Marx, Herve Leger, Hickey Freeman, Thomasville and Sports Illustrated. The company aims to grow to $25 billion in coming years. It plans to launch an IPO worth $10 billion later this year.
Chinese fast fashion e-tailer Shein is also eyeing the public markets. The e-tailer is looking at the US equity market for a listing. Founded in October 2008, the company targets the European, American, Australian and Middle Eastern markets, and relies heavily on a community of micro-influencers to reach trend-conscious consumers through social platforms. In January, Shein was an early frontrunner for bankrupt Arcadia’s Topshop and Topman brands, said to offer about $409.7 million after Next plc backed out. Asos eventually acquired the pair’s brand assets and inventory for $363.2 million, casting its cost-intensive stores by the wayside.
Italian brand Benetton has collaborated with secondhand fashion marketplace Depop to launch a new collection of the brand’s vintage garments. As per a Spin Off, the 60-piece collection spans the 1980s to 1990 and includes men’s and women’s pieces and accessories, showcasing Benetton’s DNA and commitment to color. The collection includes rare rugby shirts, iconic colorblocked sweatshirts, patchwork denim jackets, Argyle jumpers and linen shorts.
Benetton has also launched a new campaign for the collection. The campaign sensitivizes important social issues, just as Benetton’s campaigns did in the 1990s when the brand addressed many a controversy at the time with its now famous promotions that were photographed by Olivero Toscani and now are icons of advertising.
It features @YouthClubStore who is committed to promoting more conscious consumption of fashion, @ArchiveSix who speaks to her empowerment as a POC businesswoman, dancer @Ayo, on the importance of self love and self acceptance and @Hadiyahh who is passionate about the representation of real female bodies in the media.
