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Victoria’s Secret & Co. (VS&Co) has announced the appointment of Hillary Super as its new CEO, effective September 9, 2024. Super, who succeeds Martin Waters, will also join the Board of Directors. In the interim, Chief Financial and Administrative Officer Timothy (TJ) Johnson will serve as CEO until September 8, 2024. Waters will remain with the company as an advisor until August 31, 2024, to ensure a smooth transition.
Super, with nearly 30 years of retail experience, previously served as CEO of Savage X Fenty and Global CEO of Anthropologie Group. Her expertise spans various retail sectors, and she is recognized for her ability to drive profitable growth by anticipating consumer needs.
Donna James, Chair of the Board, praised Super's leadership qualities and vision, expressing confidence in her ability to lead VS&Co into its next phase of growth, particularly in North America. James also acknowledged Waters' contributions, including the company’s digital and international expansion, and the successful separation from its former parent company.
Super expressed enthusiasm for joining VS&Co, emphasizing the potential for growth within the brand's iconic status and its strong beauty business. She aims to position VS&Co as the global leader in intimate apparel.
Additionally, the company released preliminary financial results for the second quarter of 2024, expecting net sales and earnings per share to meet or exceed prior guidance. Johnson highlighted the improved sales trends in North America and strong margin performance.
Two major international textile federations; International Textile Manufacturers Federation (ITMF) and the International Apparel Federation (IAF) will host a joint conference on Sep 08-10, 2024 at Samarkand in Uzbekistan
Titled ‘Innovation, Cooperation & Regulation - Drivers of the Textile & Apparel Industry,’ the event will focus on the key factors shaping the future of the industry, and is the first time the two federations have held their conference jointly.
To open on Sep 07, 2024 with the ITMF board meeting, the conference will attract over 500 high-level representatives from international organizations, textile companies, brands, financial institutions, and retailers. They will discuss and address issues critical to the continued development and sustainability of the global textile and apparel industry.
Participants will get an opportunity to hear the addresses of Stephen Lamar, President, American Apparel & Footwear Association (AAFA); Dirk Vantyghem,General Director, European Apparel and Textile Confederation (EURATEX) and representatives of numerous industry leaders, including Cotton Analytics (USA) and Indorama Corporation (Singapore). Participants will discuss topics including artificial intelligence, regulation, digitalisation, ESG and supply chains.
Additionally, the conference will feature the ITMF Awards Session, where the winners of the ITMF Innovation & Sustainability Award 2024 and the ITMF International Cooperation Award 2024 will be announced.
To be organised in cooperation with Uzbekistan Textile and Garment Industry Association (Uztextileprom), this landmark event marks a significant milestone for Uzbekistan, the historic center of the ‘Silk Road’. Last year, the country’s textile industry exported around $3.5 billion to over 75 countries and is seeing significant growth today. By 2026-end, Uzbekistan plans to increase its exports to $6.5 billion. This event affirms Uzbekistan's growing role in the global textile supply chain and underscores the importance of international cooperation and dialogue in driving the industry's future.
From 3.2 times those of India during FY24, Bangladesh's RMG exports narrowed to around 2.5 times of India’s exports in Q1, FY25, as per a report byCareEdge Ratings.
This shift was a result of not just socio-political upheavals in Bangladesh but also because of various initiatives taken to enhance the competitiveness of Indian RMG exports. The ongoing socio-political uncertainties in Bangladesh may push global RMG brands and retailers with significant operations in the country to diversify their sourcing strategies, particularly if the crisis extends beyond a quarter or two.
In such a scenario, India is poised to benefit by capturing approximately 6 per cent-8 per cent of Bangladesh's monthly export orders in the near term and 10 per cent in the medium term. This shift could translate into a monthly incremental export opportunity of around $200-250 million in the short term and $300-350 million in the medium term for India.
India has sufficient capacity to increase its RMG exports by 20 per cent -25 per cent, taking advantage of the available production capabilities in the sector. With the ongoing China+1 sourcing strategy, global RMG brands and retailers have limited alternatives, such as India, Vietnam, and Cambodia, to replace Bangladesh. Among these, India is well-positioned to capitalize on this opportunity.
Bangladesh's RMG exports declined by 17 per cent decline in Q1 FY25 compared to the previous year, while Indian RMG exports grew by 4 per cent during the same period. This trend highlights India's growing role in the global RMG market.
The Lenzing Group, a global leader in regenerated cellulose fibers, has once again achieved platinum status in the EcoVadis CSR rating, marking its fourth consecutive year at the top. EcoVadis, an international sustainability ratings provider, places Lenzing among the top one percent of over 130,000 companies evaluated globally.
This year, Lenzing excelled particularly in sustainable procurement and ethics, while also improving in labor, human rights, and certifications. The EcoVadis framework assesses corporate policies, actions, and reports across four key areas: environment, fair working conditions, ethics, and sustainable procurement.
CEO Stephan Sielaff expressed pride in this achievement, highlighting Lenzing’s dedication to advancing sustainability in the textile industry. He emphasized the company’s commitment to transitioning from a linear to a circular economy, a core component of their "Naturally Positive" sustainability strategy.
Lenzing’s transparent approach, detailed in its annual sustainability report, was a significant factor in securing the platinum rating. The company continues to set ambitious goals to strengthen its sustainability efforts, driving progress toward a more circular business model in the textile industry.
The Confederation of Indian Textile Industry (CITI) has joined hands with the International LabourOrganisation (ILO) to raise awareness and share technical expertise on implementing best labor standards in India’s cotton industry.
The collaboration will address ongoing concerns about child labor and other unethical practices in cotton production. It will launch ILO's Fundamental Principles and Rights to Work (FPRW) in key cotton-growing districts of Madhya Pradesh for a year, starting in 2024.
These principles focus on building an ecosystem that supports decent work and better livelihoods for workers, particularly small and marginal farmers involved in cotton cultivation. The program will emphasise five critical areas within the cotton value chain: freedom of association and the right to collective bargaining, elimination of child labor, abolition of forced labor, eradication of all forms of discrimination, and the promotion of a safe and healthy working environment.
By ensuring cotton is produced under fair and dignified conditions, CITI not only aims to uplift farmers but also enhance the reputation of Indian cotton on the global stage, says ChandrimaChatterjee, Secretary General.
India is the world’s second-largest producer and consumer of cotton, with approximately 6.5 million farmers cultivating the crop across 11 states. The average landholding for cotton farmers in India is about 1.26 hectares, and notably, 40 percent of these farmers are women, one of the highest proportions globally.
Despite India's significant role in the global cotton market, the country has faced criticism from nations like the United States for using child and forced labor in cotton production. These allegations have adversely affected the export potential of Indian cotton, textiles, and garments.
CITI’s partnership with the ILO will ensure fair and ethical production of cotton in India, thus improving both the lives of the farmers and the global perception of Indian cotton.
Five Brazilian brands including Brandili, Cupido, Kalimo, Kyly, and Rovitex participated in this year’s edition of Latin America’s premier trade show for apparel, textiles and accessories, Columbiamoda + Colombiatex.
Known for their quality and innovative products, these brands showcased their collections to an international audience of buyers and industry professionals. Over the three days, the Brazilian delegation made 480 business contacts and generated deals worth $108,000, with an expected return of $2,500,000 throughout the year.
Held from July 23-25, 2024 at Plaza Mayor in Medellin, Columbia, the event was organised with the support of Texbrasil. Spanning various segments including casual wear, intimate apparel, fitness, beachwear, kids' fashion, accessories, footwear, leather goods, and the textile and raw materials industries, the trade show attracted significant attention from across the continent.
Among the international participants included Brazilian brands, brought together by Texbrasil, the Brazilian Textile and Fashion Industry Internationalisation Program. This initiative is a collaboration between ApexBrasil (the Brazilian Trade and Investment Promotion Agency) and Abit (the Brazilian Textile and Apparel Industry Association).
Daniel Bernardo, Export manager, Brandili,emphasised the significance of the event. Hesaid, participating in Colombiamoda + Colombiatexprovides an excellent opportunity to the company to expand its network and secure important deals for the future.
Adriana Berto, Head –Product, Kalimo, added, the trade show plays a crucial role in strengthening the brand's presence in the international market and facilitating valuable exchanges of knowledge and opportunities.
The 2024 edition of Colombiamoda was the 35th anniversary edition of the event. It attracted over 70,500 visitors from more than 40 countries and featured over 600 exhibitors, solidifying its status as a key hub for business and innovation.
Completing the expansion of its nylon 6, 6 polymer site at the Shanghai Chemical Industry Park, Invista Nylon Chemicals (China) Co has doubled its annual production capacity to 400,000 tons.
Executed with an investment of 1.75 billion RMB ($240 million), the expansion is aimed at meeting the rising demand for high-quality nylon 6,6 products. The increased capacity will also enhance local supply stability and market responsiveness, supporting growth in downstream applications.
The event to inaugurate the expanded facility was attendedby prominent industry figures including Ruan Li, Director General, Shanghai Chemical Industry Park Administrative Committee, and Pang Guanglian, Executive Board Member and Vice Secretary General, China Petroleum and Chemical Industry Federation, along with senior executives from Invista including Nancy Kowalski, Executive Vice President, Upstream Nylon Global, and Brook Vickery, Senior Vice President, Global Operations.
Ruan Li acknowledged Invista’s significant role in developing a competitive nylon industry base at SCIP while Pang Guanglianemphasised, as a global leader in nylon production, Invistacontinues to drive industry innovation. The increased production capacity in Shanghai was seen as a strategic move to meet current and future market demands.
Nancy Kowalski highlighted, the expansion is a crucial step in serving customers in China and globally. It will support the development of advanced solutions in engineering plastics, textiles, and industrial fibers, particularly in sectors like automotive, electronics, and consumer products, she noted.
The expanded site integrates with Invista’s existing facilities, including upstream adiponitrile (ADN) and hexamethylenediamine (HMD) units, and benefits from R&D through the Asia Innovation Center. The site employs Invista’s advanced polymerisation technology, which enhances safety, environmental performance, and energy efficiency.
A modular approach was adopted during construction of the site to minimise disruption, ensure smooth operations and achieve 5 million safe working hours without a lost time injury.
The recent crisis in Bangladesh, with its crucial role in the global textile industry, has sparked speculation about potential gains for India's textile sector. While short-term disruptions may benefit Indian garment manufacturers, a complex interplay of factors, including China's influence and India's own manufacturing capabilities, will determine the extent of this opportunity.
Bangladesh's textile prowess and the crisis
Bangladesh's textile sector has been a remarkable success story, accounting for over 80% of the country's total exports in 2022-23. Its competitive advantages stem from a combination of factors, including access to cheap Chinese fabrics, lean labour laws, and large-scale manufacturing facilities.
The ongoing turmoil in Bangladesh, marked by political unrest and labour strikes, has disrupted production and raised concerns among global buyers. This situation has prompted discussions about whether India, with its own strengths in the textile sector, can fill the potential void.
Potential benefits for India
Short-term gains: The immediate impact of Bangladesh's crisis could be favourable for Indian garment manufacturers, particularly in regions like Coimbatore, Tirupur, and Delhi, which are known for their garment manufacturing prowess. Western buyers, seeking to diversify their supply chains, may turn to India for fulfilling orders, especially for the upcoming holiday season.
Long-term prospects: In the long run, India's ability to capitalize on this opportunity will depend on addressing several challenges and leveraging its strengths.
• Complementary strengths: India and Bangladesh have distinct strengths in the textile value chain. Bangladesh excels in large-scale garment manufacturing, while India specializes in smaller, flexible orders with value-added requirements. This complementarity offers the potential for synergistic collaboration, where India can supply raw materials and fabrics to Bangladesh, which can then focus on its garment manufacturing expertise.
• Data table: India and Bangladesh's strengths in the textile sector
|
Feature |
India |
Bangladesh |
|
Manufacturing scale |
Smaller, flexible orders |
Large-scale production |
|
Product focus |
Value-added, niche products |
Mass-market garments |
|
Labour costs |
Higher |
Lower |
|
Fabric sourcing |
Domestic and imported |
Primarily imported from China |
Table 2: India-Bangladesh Textile Trade - A Synergistic Potential
|
Category |
India's Strength |
Bangladesh's Strength |
Potential Synergy |
|
Fiber Production |
Strong cotton and man-made fiber production base |
Reliant on imports, including from India |
India can supply fibers to Bangladesh |
|
Yarn Production |
Significant spinning capacity |
Reliant on imports, including from India |
India can supply yarns to Bangladesh |
|
Fabric Production |
Diverse fabric manufacturing capabilities |
Reliant on imports, primarily from China |
India can supply fabrics to Bangladesh, reducing its dependence on China |
|
Garment Manufacturing |
Growing but faces challenges in large-scale production |
Strong in large-scale, bulk production |
India can focus on value-added and niche segments, while Bangladesh continues to cater to mass-market demands |
The China Factor
China plays a pivotal role in both Bangladesh's and India's textile sectors. Bangladesh's competitive pricing is largely due to its reliance on cheaper Chinese fabrics. India, on the other hand, has been trying to reduce its dependence on Chinese imports.
Challenges:
• Pricing: India may struggle to match Bangladesh's pricing due to the latter's access to cheaper Chinese fabrics. This could hinder India's ability to attract buyers looking for cost-effective options.
• Supply chain disruptions: The crisis in Bangladesh could disrupt the supply of fabrics and other raw materials from China, impacting both Bangladesh's and India's textile industries.
Opportunities:
• China Plus One strategy: The ongoing turmoil in Bangladesh could further accelerate the western world's China Plus One strategy. India, with its vast textile manufacturing capabilities and a stable political environment, could emerge as a preferred alternative for buyers seeking to diversify their supply chains beyond China and Bangladesh.
India's Path Forward
To fully capitalize on the Bangladesh opportunity and reduce its dependence on China, India needs to focus onIncreasing domestic capacity particularly in areas like man-made fibers and specialty garments, which are in high demand globally. And promoting collaboration between Indian and Bangladeshi textile manufacturers can create a win-win situation for both countries. India can supply fabrics and raw materials to Bangladesh, while Bangladesh can leverage its garment manufacturing expertise.
A leader in sustainable textile innovations, Birla Cellulose is redefining the potential of Open End (OE) yarn with its revolutionary product, Excel. The company is integrating the exceptional properties of the Excel fiber such as superior strength and whiteness into the unique structure of OE yarn to offer spinning mills a groundbreaking alternative. This innovation helps reduce the dependency on virgin cotton, increases waste utilisation, and delivers outstanding results throughout the value chain.
A lyocell fiber, Excel proves to be the ideal blend with the mechanically recycled cotton, addressing the limitations often associated with recycled fibers. The fiber provides uniform length, denier, whiteness, and enhanced strength in yarn production, effectively offsetting the shortcomings of mechanically recycled cotton fibers. The resulting blends of recycled cotton and Excel offer multiple advantages, including enhanced yarn strength increased productivity, capability to spin finer rotor yarn, soft touch and feel, vibrant color retention, improved fabric luster and versatility in applications
The introduction of Birla Excel as a value-added component for mechanically recycled yarn spinning is encouraging many OE mills to incorporatethis fiber into blends with recycled cotton and other soft wastes.
Spinning mills are also offering OE recycled yarn with specialised Excel fiber blends in counts ranging from 6s to 34s for various applications, including bed linens, covers, shirting, trousers, towels, women’s dress materials, and knits.
Additionally, with its pan-India presence, Birla Cellulose’s Business Development team is supporting order tie-ups with various value chain partners across different categories to promote Excel-based products to a broader market.
India is has emerged strong in the global apparel and textile industry. With a combination of favorable government policies, a vast skilled workforce, and a growing domestic market, the country is attracting significant investments and grabbing the attention of global brands. As geopolitical tensions rise and concerns over supply chain disruptions persist, India is positioning itself as a reliable and cost-effective alternative to traditional manufacturing hubs like China, Bangladesh, and Vietnam.
Asper the Apparel Export Promotion Council (AEPC), India's apparel and textile exports grew 42 per cent to reach a record-breaking $45 billion in the financial year 2022-23. This exponential growth is a testament to the sector's resilience and the government's concerted efforts to create a conducive business environment.
Table: Apparel and Textile Exports (in billion $)
|
Country |
FY 2020-21 |
FY 2021-22 |
FY 2022-23 |
|
India |
28 |
32 |
45 |
|
China |
312 |
350 |
320 |
|
Bangladesh |
42 |
45 |
48 |
|
Vietnam |
45 |
52 |
58 |
From cotton fields to catwalks, brand shift to India
The growing allure of 'Made in India' is evident in the influx of global fashion brands setting up shop or expanding their sourcing operations within the country. H&M, the Swedish fashion giant, has been at the forefront of this shift. The company has invested heavily in India, partnering with local manufacturers to produce a wide range of apparel, from casual wear to ethnic fashion. As Daniel Kulle, Head of Sustainability at H&M explains, "India offers a strong value proposition for sustainable fashion. The country has a rich textile heritage, a growing focus on sustainability, and a skilled workforce. We are committed to increasing our sourcing from India and supporting the development of the local supply chain."
On similar lines, Gap Inc., the American clothing and accessories retailer, has invested heavily in India to strengthen its supply chain. The company has established a design and sourcing center in Bengaluru and has partnered Indian manufacturers to produce private-label brands such as Old Navy and Banana Republic. Prasad Rajappan, Managing Director, Gap India says, "India has emerged as a strategic sourcing hub for Gap Inc. The country's cost-effective manufacturing capabilities, coupled with a growing pool of design talent, make it an attractive destination for our business. We are optimistic about the long-term growth prospects in India." In all this, the government has played a pivotal role in fostering growth of the apparel and textile sector. Initiatives such as 'Make in India', 'Atmanirbhar Bharat', and Production Linked Incentive (PLI) schemes have provided a strong impetus to domestic manufacturing. Additionally, the focus on skill development and infrastructure improvement has created a conducive ecosystem for businesses to thrive.The PLI scheme for the apparel sector, with an outlay of Rs 10,683 crore, aims to boost production by Rs 19,000 crore and create 6 lakh additional jobs.
However, despite all this issues such as infrastructure bottlenecks, raw material costs, and labor shortages persist. To harness its full potential, the government and industry stakeholders must collaborate to address these issues and create a more conducive business environment.
