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Driven by India’s inherent strengths and a strong policy framework encouraging investment and exports, the textile sector in India is likely to grow to $350 billion by 2030. Trade data of Aug’24 from the Ministry of Textiles shows, India’s RMG exports will grow by 11 per cent Y-o-Y during this period.
With end-to-end value chain capability, a strong raw material base, a large export footprint and a vibrant and rapidly expanding domestic market, India is a traditional leader in the textiles sector.
The Indian government has also launched a number of schemes and policy initiatives to leverage and catalyseits inherent strengths to help the textile sector achieve the targeted $350 billion goal by 2030. The government aims to attract Rs 90,000 crore of investment through PM Mega Integrated Textile Region and Apparel (PM MITRA) Park and Production Linked Incentive (PLI) Schemes in the next 3-5 years. It also aims to focus on schemes like the National Technical Textiles Mission to help India acquire leadership position in emerging sectors such as technical textiles.
After a gap of five years, lingerie brand Victoria's Secret will once again organise its annual fashion show on Oct 15 in New York. The show will feature the brand’s historic models including Tyra Banks, Gigi Hadid and Taylor Hill.
Victoria’s Secret had canceled its annual fashion in 2019, after various controversies, especially regarding the physicality cult of its models, erupted.In response, the company rebranded itself to embrace diversity, body positivity, and inclusivity. This shift included introducing a broader range of models of different sizes, ages, and backgrounds, and launching campaigns that focus on empowerment and authenticity.
In 2021, Victoria’s Secret introduced the VS Collective, a new group of brand ambassadors, which includes women like Priyanka Chopra Jonas, Megan Rapinoe, and Paloma Elsesser. These ambassadors are meant to represent a more inclusive and diverse vision for the brand, focusing on real stories and achievements rather than just physical appearance
A globally recognised American lingerie, clothing, and beauty retailer, Victoria’s Secret is known for its fashion-forward designs and iconic marketing campaigns. Established in 1977 by Roy Raymond in San Francisco, the brand quickly became a leader in the lingerie industry, offering a wide range of intimate apparel, sleepwear, activewear, and beauty products.
At the upcoming edition of ITMA Asia +CITME exhibition from Oct 14-18, 2024 in Shanghai, Itema will showcase its new range of weaving machines including the GalileoRX Rapier and P7300HP V8 Projectile Weaving Machines.
Launched in 2022 to address the specific needs of the Chinese and Asian textile markets, the Itema GalileoRX Rapier Machine is known for its ability to weave a wide range of fabrics with superior quality and precision.The 2.3-m-wide machine is equipped with a new generation machine console, a 15.6-inch capacitive touch screen and the fancy iSaver device to eliminate waste selvedge.
Aiming to demonstrate its ability to handle heavy weight fabrics, the 3.9-m-wide P7300HP V8 Projectile Weaving Machine will produce denim at the show. Currently, Itema is the sole manufacturer of this machine and continues to explore the weft insertion technology.
This year also marks the 70th anniversary of the official launch of TW11 – the first projectile weaving machine. First launched at the Mustermesse in Basel, Switzerland, in 1954, the TW11 revolutionised the weaving industry with its unique weft insertion system and ability to efficiently produce extra-wide and heavy fabrics, laying the groundwork for subsequent generations of projectile looms leading to today’s P7300HP V8.
Itema will also showcase other rapier weaving machines at the exhibition through partners including Huzhou Hyundai, Lilai, Tongxiang, Changfang, and Song&Song.
Mosaic Brands, an established name in Australian fashion retail landscape, has been struggling for years. The company, which owns brands like Millers, Rockmans, Noni B, Rivers, Katies, and others, recently announced the closure of several labels viz. Rockmans, Crossroads, Autograph, W. Lane, and BeMe and also numerous stores. This drastic move reflects deeper issues within the company and potentially within the wider retail sector.
What went wrong?
Several factors contributed to Mosaic Brands' decline. The company primarily caters to women over 50 that has a significant demography and is also highly competitive market. Perhaps that is why, brands like Katies and Millers may have struggled to differentiate themselves and attract younger customers, leading to stagnation. The rise of online shopping and fast fashion has dramatically changed the retail landscape. Consumers, even older demography, are increasingly drawn to online platforms offering greater variety, convenience, and competitive pricing. Mosaic Brands' online presence, while existing, may not have been robust enough to compete effectively.
Mosaic Brands owns numerous labels targeting similar demographics with overlapping styles. This likely led to internal competition and brand cannibalization, diluting customer loyalty and hindering individual brand growth. Rising inflation and cost-of-living pressures have impacted consumer spending, particularly discretionary items like clothing. This has may have squeezed Mosaic Brands' margins and contributed to its financial difficulties. Moreover, Mosaic Brands has been grappling with a significant debt load, which hindered its growth. In their most recent financial report, the company reported a net debt of $44.7 million. The company's share price has dropped over 90 per cent in the past five years and it has already closed hundreds of stores in recent years.
A mirror of the of the overall retail sector
While Mosaic Brands' struggles are specific to its circumstances, they also reflect a broader trend in the retail industry.
The rise of e-commerce: The shift to online shopping is undeniable. Brands that fail to adapt to this new reality face significant challenges. In fact, many traditional retailers like Sears, JCPenney, and some fashion giants have struggled to maintain their brick-and-mortar presence.
Changing consumer behavior: Consumers are more discerning and price-conscious. They demand value, convenience, and a personalized shopping experience. Brands that fail to meet these expectations risk losing market share.
Increased competition: The retail landscape is becoming increasingly competitive, with new players emerging constantly. Fast fashion brands like Shein and Temu, with their agile supply chains and low prices, are putting immense pressure on traditional retailers.
Many other Australian brands have faced similar fate in recent years. For example, Wesfarmers, which owns Kmart and Target, has also faced pressure from online competitors and changing consumer behavior. Similarly, Myer the department store chain has struggled to adapt to the rise of online shopping and has closed numerous stores in recent years. David Jones another department store chain is facing similar challenges to Myer.
Therefore, the challenges being faced by Mosaic Brands serves as a caution for other retailers. Adapting to changing retail landscape, embracing e-commerce, and offering a compelling customer experience are crucial for survival in today's competitive market.
Karl Mayer will highlight innovative solutions for the composite and grid production sectors at ITMA ASIA + CITME 2024, focusing on lucrative opportunities in technical textiles. The company’s presence at the Shanghai National Exhibition and Convention Center will showcase carbon fabrics for lightweight construction applications, targeting both traditional warp knitting customers and new prospects in the carbon composites market.
Two innovative warp knitting machines will be featured at a concurrent in-house show in Changzhou starting October 13. The Weft, upgraded for improved performance, will produce lightweight fabrics for outerwear and interlinings. With a 247 working width and 20 per cent performance boost, this model addresses market demand.
Also debuting is the Weft Grid Eco machine, designed for efficient production of lightweight glass grid structures, mainly for the construction industry. With a working width of 245 and 1,800 rpm speed, it offers a 12 per cent speed increase and is 20 per cent cheaper than its predecessor, the Wefttronic II G.
Jan Stahr, Sales Manager for Karl Mayer’s Technical Textiles unit, anticipates strong interest from both domestic and international customers. This marks Karl Mayer 's first major trade fair participation in Asia since the pandemic.
On October 10, 2024, Lenzing AG's Extraordinary General Meeting elected three new members to its Supervisory Board. Marcelo Feriozzi Bacci, Carlos Aníbal de Almeida Junior, and Markus Furst will serve until the Annual General Meeting addressing the 2028 business year.
Following these appointments, the board now consists of ten members elected by the General Meeting: Carlos Aníbal de Almeida Junior, Cornelius Baur, Helmut Bernkopf, Marcelo Feriozzi Bacci, Stefan Fida, Markus Fürst, Franz Gasselsberger, Cord Prinzhorn, Gerhard Schwartz, and Astrid Skala-Kuhmann. Additionally, five members were appointed by the Works Council.
Former members Christian Bruch, Nicole van der Elst Desai, and Melody Harris-Jensbach have resigned, with Lenzing AG expressing gratitude for their service.
In a subsequent Supervisory Board meeting, Cord Prinzhorn was elected Chairman, Marcelo Feriozzi Bacci was named 1st Vice Chairman, and Stefan Fida was elected 2nd Vice Chairman.
Baldwin Technology, part of BW Converting, will present its TexCoat G4 precision spray system at ITMA Asia 2024 in Shanghai from October 14-18, targeting sustainable textile finishing. As brands, consumers, and regulators increasingly emphasize sustainability, Baldwin aims to meet the demand for eco-friendly production methods with its advanced spray technology.
The TexCoat G4 system offers significant environmental benefits by reducing water, chemical, and energy consumption by up to 50 per cent compared to traditional pad-dry-cure processes. It applies chemicals precisely where needed on fabrics, eliminating waste. The system uses the same chemicals as conventional methods but with more efficiency, aligning with the industry's sustainability goals.
At the event, visitors can view fabric samples treated with TexCoat G4, and Baldwin’s team will discuss the system’s role in reducing carbon footprints and enhancing cost-efficiency.
Baldwin’s recent collaboration with Monforts and Archroma strengthens its commitment to sustainable solutions. This partnership integrates Monforts’ finishing equipment and Archroma’s chemistries with TexCoat G4 technology, aiming to improve dyeing and finishing processes for manufacturers in Bangladesh, China, India, and Pakistan.
BW Converting’s VP, Rick Stanford, highlighted the system’s success in Asia, noting that investments in TexCoat G4 offer both environmental and financial benefits.
The TexCoat G4 exemplifies Baldwin’s vision for greener textile production, providing a win-win for manufacturers and the planet.
A quiet but powerful transformation is underway in the European Union. The continent, once burdened by mounting waste, is steadily evolving into a hub of recycling innovation. The rise in recycling initiatives and increasing recognition of waste as a valuable resource are paving the way for a thriving recycling industry.
As Thomas Fischer, Deputy Director of management research at the German research institute ITA Denkendorf, explained during a recent ITMAconnect webinar, "Europe will suddenly become a region with a lot of raw material, and the more waste that is collected, the more sense it will make to establish recycling hubs."
A mountain of opportunity
This prediction seems to be coming true. The European Union generated a staggering 2.24 billion tons of waste in 2020, according to Eurostat. However, recycling rates are also rising, with 48 per cent of municipal waste being recycled or composted. This growing volume of recycled material is creating a fertile ground for the recycling industry to flourish. This waste is increasingly being viewed not as a burden, but as a valuable resource. Advanced recycling technologies are unlocking the potential to extract valuable materials from waste streams, creating new economic opportunities and reducing dependence on virgin resources.
Several factors are contributing to this positive trend. One major factor is the stringent regulations that EU has implemented and the ambitious waste management targets, pushing member states to reduce landfill and increase recycling. This regulatory pressure is stimulating investment in recycling infrastructure and technology. Meanwhile, innovations in sorting, processing, and recycling technologies are making it possible to recover more materials from waste streams, boosting the efficiency and profitability of recycling operations. And Europeans are increasingly aware of the environmental impact of waste and are demanding more sustainable products and packaging. This consumer pressure is encouraging businesses to embrace circular economy principles and invest in recycling.
Countries take the lead
Several initiatives across the EU showcase the potential of this new recycling revolution
• The Netherlands: With a recycling rate of over 50 per cent, the Netherlands stands as a beacon of success. The country has invested heavily in waste sorting and collection infrastructure, and its citizens have embraced recycling as a way of life. It is home to several state-of-the-art recycling plants, such as the ARN Recycling Plant in Weert, which processes over 200,000 tons of plastic packaging waste annually.
• Sweden: Sweden has achieved remarkable progress in waste management, with less than 1 per cent of its household waste ending up in landfills. This Scandinavian nation has taken an innovative approach to waste management, generating energy from non-recyclable waste through incineration. The heat and electricity produced are used to power homes and businesses, making Sweden a net importer of waste.
• Germany: The birthplace of the ‘Green Dot’ recycling system, Germany has a long history of waste management leadership. Germany recycles 67 per cent of municipal waste. The country's recycling initiatives are underpinned by stringent regulations and a strong emphasis on producer responsibility.
Recycling hubs for waste management
The emergence of ‘recycling hubs’ is a key trend in the EU's waste management landscape. These centralized facilities utilize advanced sorting and processing technologies to extract valuable materials from waste streams, creating high-quality secondary raw materials for use in manufacturing. The more waste collected, the more economically viable these hubs become, resulting in a positive feedback loop that drives further recycling.
As technology advances and circular economy principles gain traction, the European recycling industry is industry is expected to become more efficient and profitable, generating jobs and contributing to a more sustainable future.
The journey from a waste-burdened continent to a recycling powerhouse is a testament to the EU's commitment to environmental protection and resource efficiency. The rise of the recycling industry is not just an economic opportunity, but also a crucial step towards a greener and more resilient Europe.
The forthcoming EU Green Rules are poised to reshape the landscape for suppliers, buyers, and consumers across Europe. As the bloc strengthens its commitment to sustainability and ethical practices, a closer look at the price impacts, investment needs, and consumer implications reveals a complex picture. These regulations, such as the Corporate Sustainability Due Diligence Directive (CSDDD), mandate sustainable practices throughout the global supply chain, putting higher pressure on major international brands to ensure compliance.
Price hikes and investment demands for suppliers
The EU's ambitious environmental regulations are set to increase costs for suppliers across various industries. From stricter emissions standards to sustainable sourcing requirements, businesses face the challenge of adapting their operations to comply. The brunt of this impact will be felt most acutely by suppliers in low-income countries, like those highlighted in the clothing industry case study. Suppliers, particularly in low-income countries like Bangladesh, will likely need to secure new contracts and financial support to meet these costs. The report predicts that transitioning to green practices will require a staggering $1 trillion investment, raising questions about the financial burden on suppliers, particularly those in developing economies.
Navigating the impact on buyers
The price increases at the supplier level will inevitably trickle down to buyers, forcing them to re-evaluate their sourcing strategies and potentially absorb higher costs. This will be especially challenging for businesses operating on tight margins. As seen in the clothing sector, major brands are being urged to share the financial and logistical burdens with their suppliers to navigate this transition smoothly. The impact on global clothing brands is also notable. The new regulations will inevitably lead to increased costs, as brands invest in sustainable practices and technologies. These additional expenses may be passed on to consumers, potentially leading to higher prices for clothing.
What does it mean for the European consumer?
For European consumers, the new regulations may lead to slightly higher clothing prices. However, they can also expect to see more sustainable and ethically produced clothing on the market. Consumers are becoming increasingly conscious of the environmental and social impacts of their purchases. The EU's green rules may help drive demand for sustainable clothing, incentivizing brands to prioritize sustainability throughout their supply chains.
Thus the EU's forthcoming green regulations will undoubtedly have a significant impact on the global clothing industry. The regulations signal a shift towards a more sustainable and ethical future for the fashion industry, but also present challenges in terms of cost and investment. Collaboration between brands and suppliers will be crucial to navigating this transition successfully.
French luxury goods company Kering has strengthened the management team of its renowned label Gucci by appointing Stefano Cantino as its new CEO. To assume office in Jan’25, Cantino will succeed Jean-Francois Palus who was appointed as the CEO last year to oversee a period of transition at the label, which lagged behind rivals during the pandemic.
Having joined Gucci in May 2024 as the brand’s Deputy CEO, Cantino was earlier engaged with the LVMH-owned label Louis Vuitton for a period of five years as the head of its Image and Communications division. Armed with over 20 years of experience in the communication and marketing roles at Prada, Cantino will also join Kering's Executive Committee as its board member.
Accounting for half of the group’s sales and two thirds of its profit, Gucci is currently been revamped by Kering under the leadership of Sabato de Sarno, Art Director. However, the current downturn in the global luxury market along with the delayed rebound in China continues to pose challenges for the brand.
