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The parent company of Uniqlo, Fast Retailing Co has committed Rs 220 million (around $3 million) for those affected by COVID-19. As per India Retailing, the company will donate Rs100 million to two non-profit organizations, GiveIndia and the AkshayaPatra Foundation. In addition, it will also provide more than 600,000 UNIQLO AIRism masks to frontline workers.
Through GiveIndia, funds will be utilized for the immediate provision of such medical equipment as oxygen concentrators and to strengthen healthcare infrastructure in critical states, as wellas providing cash relief for the families of the deceased. The donation to the AkshayaPatra Foundation will be used to provide cooked meals and dry ration supplies to low-income daily wage workers who are impacted by the surge of COVID-19. The donation of UNIQLO AIRism masks by Fast Retailing will be distributed to front-line workers and those providing essential services.
realize a better society. Its programs not only provide millions of garments to those in need but also emergency financial assistance in times of natural disaster. Working with the United Nations High Commissioner for Refugees (UNHCR), the company also provides support for refugees and displaced people around the world.
E-commerce sales in the Asia Pacific region are expected to nearly double by 2025 reaching $2 trillion, according to global market research company Euromonitor International.
The region is predicted to see the highest retailing sales growth in 2020-2025, following Latin America, with digitalization, connectivity and demographics representing the key drivers in the region’s shift into an innovation hub post-pandemic.
In this year’s whitepaper ‘Top 100 Retailers in Asia 2021’, Euromonitor looks at how the APAC region world-class mobile connectivity enables digital transformation and is supported by extremely tech-savvy consumer segments in the region.
In 2020, businesses receiving online orders recorded 37.6 per cent growth and will reach 44 per cent by 2025. Livestreaming experienced an explosive growth in 2020 in tech-advanced markets. Countries like China and emerging economies in Southeast Asia including Indonesia and the Philippines witnessed a surge in social commerce through WhatsApp, Instagram and Viber, says Quan Yao Peh, Research Analyst, Euromonitor International.
In its fourth quarter ended March 31, 2021, Vardhaman Textiles posted a net profit of Rs 243.47 crore as against a loss of Rs 170.52 crore posed in third quarter ended December 31, 2021. Total income increased to Rs 1,994.47 crore during the third quarter ended March 31, 2021 as compared to Rs 1,806.85 crore during the previous quarter. EPS increased to Rs 42.83 as against Rs 29.97 EPS reported during the quarter ended December 31, 2020.
On a yearly basis, Vardhaman Textiles posted a net profit of Rs 243.47 crore for the period ended March 31, 2021 as against net loss of Rs 145.71 crore during the period ended March 31, 2020.
The company’s income for the financial year ended March 31, 2021 increased to Rs.1,994.47 crore from Rs.1637.19 crore reported during the year ended March 31, 2020. Its EPS for the period increased to Rs 42.83 as compared to Rs.25.60 for the period ended March 31, 2020.
ROICA™ by Asahi Kasei has unveiled a new brand identity which merges performance, innovation and responsible imprint. The company focuses on two main strategies: continuous R&D and innovations in sustainability and partnerships with leading responsible innovators across the entire value chain.
ROICA™ identity will be activated in all its communication tools and channels, such as a renovated website and social media presence The visual identity is then represented in five different designs, each for one of the five applications that can be enhanced by ROICA™ yarns: Activation for performative sportswear garments, Aqua for smooth swimwear, Style#Fit for casual wear and athleisure,
Since 1971, ROICA™ has been raising the bar in fashion, lingerie, activewear, hosiery and textiles with smart innovation. It now marks a unique milestone in the world of stretch by creating cutting edge tools, such as the hangtags that provide, through simple and well-designed icons, clear and concise functional information showing for each application the values and performances of each single ROICA™ product: ROICA Colour Perfect ™, ROICA Resistance™, ROICA Feel Good™, ROICA Eco-Smart™, ROICA Contour™.
The company has also introduced a branding policy that indicates the allowed blends for smart yarns belonging to the unique ROICA Eco-Smart™ family. Its constant investments in R&D, people and technology have allowed the company to engineer agile, multi-facetted and sustainable stretch yarns which redefine the new circularity, delivering the style, support and finish, trusted to match the performance demands and ambitions of the new generation contemporary consumer.
Pakistan-based integrated denim manufacturer Soorty launched a new size inclusive workplace collection that embraces disabilities and diversity in the workforce. As per Sourcing Journal, the Seasonless II collection spans all seasons. The genderless collection features existing concepts that focus on longevity, adaptability and intelligence in denim. It includes Resync, a line of fabrics supported by one-size-fits-all technology. The trans-seasonal, adaptive fabric sculpts the body with 360-degree stretch comfort that fits a range of four sizes—two sizes up and two sizes down. The innovation makes it possible for jeans to comfortably mold to various body shapes and sizes, spanning both men’s and women’s garments.
The Resync range was launched in February to make products that can adapt with consumers’ fluctuating sizes and ultimately keep them from the landfill. It partnered fashion size and fit software Scircula, which developed an e-commerce fit solution, which collects customer size, fit and buying behavior data in real-time to provide insights at the SKU level.
Soorty’s new collection also includes Redream, a collection of fabrics made of non-virgin components, such as post-consumer and post-industrial waste, GRS-certified recycled polyester, Lycra T400, Ecomade T400, CoolMax Ecomade and Repreve.
Primark has launched a new leisurewear collection under its Primark Cares label. As per Sourcing Journal, the new collection contains garments made from recycled cotton sourced from unused fabric waste and recycled clothes. The collection is certified by circular fashion company Recover, which aims to close the loop on fashion.
The eight-piece range is available at 179 Primark stores globally. Each garment is made with 15 per cent and 25 per cent recycled cotton. The rest is mix of materials, including sustainable cotton from Primark’s Sustainable Cotton Program, organic cotton and polyester. With prices ranging from $5 to $14, the new collection includes hoodies, joggers, sweats, Ts and leggings in navy, white, black and gray with hero items such as a V-neck T-shirt style and a matching hoodie and jogger set.
The Primark Cares initiative conveys its seriousness towards its responsibility by supporting people who make its clothes and those involved in protecting the environment. Primark Cares labels can be found across a wide range of products in its stores.
A broad coalition of industry organizations and labor unions have supported Senate Majority Leader Chuck Schumer and Senate Minority Leader Mitch McConnell’s proposal to include robust domestic procurement policies for PPE in the U.S. Innovation and Competition Act (USICA) that is currently being reviewed by the Senate.
The coalition specially requested the senators to extend rules for PPE procurement substantially similar to the Berry Amendment to the federal government’s largest buyers of these products, including the Departments of Homeland Security, Health and Human Services, Veterans Affairs, and Defense.
It thanked them for including such a provision in Section 4153 of the USICA, which is substantially similar to the bipartisan Make PPE in America Act (S.1306) introduced earlier this year by Senators [Gary] Peters and [Rob] Portman. It emphasized that the emergent US PPE industry needs the purchasing certainty provided by long-term government support. It urged the government to extend domestic purchasing requirements for PPE in US Innovation and Competition Act to four critical departments with the largest federal purchasing power for these products—DHS, HHS, VA, and DoD.
Complying with government directives for COVID-19, Lakshmi Machine Works has stopped operations in textile machinery division (TMD) and machine tools division (MTD) May 24, 2021. Lakshmi Machine Works is one amongst world’s leading three textile machinery manufacturers that produce the entire range of spinning machines. The company caters to both the domestic as well as exports markets. It also manufacturers CNC machine tools and precision castings for industries world over. It recently added the advanced technology centre to manufacture components for the aerospace industry.
In the third quarter of FY21, Lakshmi Machine Work’s consolidated net profit zoomed to Rs 33.26 crore from Rs 3.26 crore in Q3 FY20. Its net sales rose by 49.4 per cent to Rs 478.56 crore. In 2020, Lakshmi Machine Works was awarded as the Most Innovative Company of the Year at the CII Industrial Innovation Awards. Instituted by CII, the awards recognize innovative Indian enterprises across sectors.
South Korea’s Hyosung TNC Corp hopes its textile business generate sales worth over 1 trillion won ($890 million) in the second quarter. As per reports, most of this demand will be boosted by spandex used in making protective face mask and sportswear.
In the first quarter of FY21, Hyosung TNC recorded sales worth 831.8 billion won from its textile business. The company hopes to generate more than 1 trillion won in revenue from this business in the second quarter as its spandex exports surged amid the global economic recovery. Since last year, Hyosung TNC started ramping up spandex yarn capacity at its Turkey and Brazil factories. The company plans to complete capacity expansion in the second half this year.
A comprehensive fiber manufacturer, Hyosung produces a majority of leading world-class products such as ‘creora, aerocool and askin’ throughout the fiber industry. The company manufactures and supplies nylon, polyester yarn, textiles, and dyed, processed fabric products, including the spandex brand ‘creora’ chosen by globally renowned brands in market segments such as lingerie, swimming suits and stockings.
Zwickauer Kammgarn GmbH (ZKS) offers its customers a complete service for climate-neutral yarn by offsetting CO2 emissions. Beate Wilms, Managing Director, says, the company can calculate the exact CO2 footprint of every customer’s yarn product beyond– along the supply chain starting from the raw material. It analyses the exact emissions from raw material extraction, transport routes, yarn production to delivery of the finished goods to the customer, packaging and disposal.
Wherever possible, ZKS relies on innovations in raw materials and processes to reduce or completely avoid its ecological footprint. In addition to natural raw materials, this is increasingly ensured by bio-based, biodegradable and recycled raw materials. Where C02 emissions cannot yet be avoided, the climate-damaging emissions are offset by reforestation or with marine protection projects against plastic waste.
ZKS provides its entire know-how along the value chain. This starts with researching raw materials and purchasing on the world market and continues through production to the question of whether the product can be returned to the cycle when it is disposed of.
