FW
Lenzing Group’s subsidiary, LD Celulose International GmbH, has successfully issued Green Notes worth $650 million. The notes, which mature on January 25, 2032, have a coupon rate of 7.95 per cent per annum and were in high demand among institutional investors.
This funding is part of a broader $1 billion financing strategy for LD Celulose S.A. (LDC), a joint venture between Lenzing and Duratex. It also includes a $350 million syndicated term loan. The proceeds from the Green Notes, along with the term loan and cash reserves, will be used to repay existing financial obligations and fund eligible green projects in line with the company’s Green Financing Framework.
Rohit Aggarwal, CEO of Lenzing Group, emphasized the company's commitment to sustainability, noting that the strong investor interest reflects Lenzing's leadership in sustainable textiles and nonwovens. CFO Nico Reiner added that the transaction transitions LDC's financing to a standalone corporate structure, supporting its position as one of the largest dissolving wood pulp plants globally, with a capacity exceeding 500,000 tons annually.
The Green Notes, issued by LD Celulose International GmbH and guaranteed by LDC and LD Florestal SA, will be listed on the Singapore Stock Exchange. This strategic move further aligns with Lenzing’s vision of enhancing sustainability in the textile and nonwovens industry.
The ZDHC Foundation has named Francesco Pianca as its new Chief Programme Officer, effective November 1, 2024. Pianca, who has over a decade of experience in sustainability, joins ZDHC from Burberry, where he led the transformation of supply chain sustainability and chemical management practices. His previous roles include Corporate Sustainability and Environment, Product Safety, and Global Head of Quality Assurance at Benetton Group.
Pianca's efforts have significantly impacted the fashion industry by promoting cleaner and more sustainable practices. Reflecting on his career, he highlighted his work in driving supply chain transformation as a key achievement and expressed enthusiasm for continuing this mission at ZDHC.
ZDHC CEO Frank Michel praised Pianca's commitment to sustainable transformation and noted his valuable contributions as a former member of ZDHC’s Board of Directors. Michel emphasized that Pianca’s expertise aligns with ZDHC's goal of advancing safer chemical management globally.
As Chief Programme Officer, Pianca will play a crucial role in advancing ZDHC’s 2030 Strategy, which aims to promote cleaner chemistry for resource efficiency, carbon reduction, biodiversity protection, and circularity.
Nicole Rycroft, Founder and Executive Director of Canopy, has been named to The Business of Fashion’s (BoF) annual BoF 500 list, recognizing influential leaders in the global fashion industry. Rycroft is honored for her efforts in driving the adoption of low-carbon, circular, Next Gen materials as sustainable alternatives to traditional fashion production.
Under Rycroft’s leadership, Canopy collaborates with global fashion brands, producers, and innovators to transition from harmful practices like logging Ancient and Endangered Forests for fabrics such as viscose and rayon, which consume 300 million trees annually. Instead, Canopy promotes the use of environmentally friendly materials that support both business growth and ecological balance.
Rycroft expressed her excitement about being included in the BoF 500 and emphasized Canopy's efforts in transforming the fashion industry towards sustainable practices. She noted that the recognition indicates the fashion community's growing commitment to protecting forests and adopting circular solutions.
Rycroft has received numerous accolades, including the UBS Global Visionary, Ashoka Fellow, Canadian Environment Award Gold Medal, and the Climate Breakthrough Award 2020. In 2023, she delivered a TED Talk on the necessity of a Next Gen transition in textiles and packaging.
The Business of Fashion is a leading authority on the global fashion and beauty industries, valued at $2.5 trillion.
Marking a significant milestone for the initiative, about a dozen textile companies are set to receive their first-ever incentive payments under the Production Linked Incentive (PLI) scheme for textiles.
Launched in 2021, the PLI scheme for textiles aims to boost domestic manufacturing of man-made fiber (MMF) fabrics, garments, and technical textiles, with a budgetary allocation of Rs 10,683 crore.
Around 40 companies have already begun their investments with twelve of these expected to receive incentive payouts within this financial year, as per a senior government official. This marks a key development for the scheme, which had previously faced slower-than-expected progress.
The PLI scheme was introduced to boost the domestic production of MMF and technical textiles, including advanced materials like personal protective equipment (PPE) kits, airbags, bulletproof vests, and textiles for aviation, defence, and infrastructure. However, the scheme received a lukewarm response, with 64 companies submitting applications committing to around Rs 6,000 crore in investments. Some companies were hesitant to invest in the targeted textile categories due to a lack of expertise.
Earlier this year, a committee led by the cabinet secretary had raised concerns about the shortfall in investment progress in three of the 14 PLI sectors, including textiles, during FY 2023-24. Despite these challenges, the current wave of incentive payments signals momentum in the textile sector's growth under the PLI scheme.
In response to industry needs, the textiles ministry has sought approval from the Union Cabinet for a second PLI scheme, focusing specifically on the apparel segment. The budget for this new scheme is expected to be Rs 4,000 crore, sourced from unutilised funds from the original scheme.
With MMF apparel accounting for roughly one-fifth of India’s overall apparel exports, this initiative aims to further strengthen the country’s position in global textile markets while promoting advanced manufacturing capabilities in technical textiles.
A White Paper developed by QSA Partners in partnership with industry bodies like the UKFT, British Fashion Council and British Retail Consortium, alongwith major brands like Burberry, Marks & Spencer and John Smedley urges the UK Government to introduce a variable Extended Producer Responsibility (EPR) fee structure to promote sustainability and advance a circular economy in the fashion and textiles sector.
To be unveiled at the UKFT Sustainability Conference, The White Paper calls for immediate government action to establish a variable EPR textile scheme that would ensure rather than shifting the burden onto communities and the environment, producers cover the costs of their products' end-of-life treatment, rather than shifting the burden onto communities and the environment. The proposed system aims to increase recycling, encourage reuse, and reduce the significant waste generated by the UK fashion sector, which sends around 336,000 tons of clothing to landfills annually.
The EPR Sandbox project, which supported the development of the White Paper, analysed over 500,000 garment types to inform fee structures and circular economy strategies. The project tested different models, including per-item and per-kilogram fees, encouraging producers to design products with sustainability in mind. Additionally, it proposed a central fund to support repair, reuse, and recycling efforts. These measures could generate substantial funding for circular initiatives and reduce costs for producers who adopt sustainable practices.
Industry leaders including Burberry and John Smedley have expressed their support to the initiative. Burberry emphasised its commitment to circular practices through aftercare services, while John Smedley highlighted the importance of traceability and raw material partnerships. Marks & Spencer pointed to its long-standing efforts in promoting clothing recycling and repair services.
With the UK fashion and textile sector contributing around £62 billion to the economy but also posing significant environmental challenges, the introduction of variable EPR fees could be a transformative step. By incentivising circular design and supporting UK recycling infrastructure, this initiative could drive meaningful progress toward sustainability, provided the government offers strong backing.
At the recently concluded Garment Technology Expo (GTE) 2024 in Bengaluru, Brother International (India) unveiled its latest range of flatbed and multi-needle machines, targeting emerging entrepreneurs in the garment industry.
With a focus on small business owners, fashion students, and boutique operators, Brother India caters to the rising demand for customised monogramming and fashion designs by offering advanced machines that combine versatility with precision.
Highlighting the company’s new machines that meet the needs of small-scale manufacturers, Rudra Pratap, National Sales Head, says, these products are ideal for small businesses looking to expand their creative capabilities in a competitive market.
The products showcased by Brother India at GTE 2024 were designed to tap into current market trends, particularly the growing demand for custom apparel and monogramming.
Addressing the growing competition from Chinese machines, Pratap points out, Brother India’s machines stand out due to their superior quality, cutting-edge technology, and reliable sales and service support. Besides providing advanced machines, the company also offers adequate after-sales services to help improve the machines’ productivity.
Brother India also conducts comprehensive training programs to ensure entrepreneurs operate the machines efficiently and upgrade their skills regularly. Present in India since 2006, Brother International operates 15 warehouses across the country with a robust distribution network.
Benefiting from an influx of orders driven by rising costs and political instability in competitor Bangladesh, along with international restrictions on China, Pakistan’s textile exports rose to by 13 per cent Y-o-Y to $1.64 billion in Aug’24.
Shagufta Irshad, Research Analyst, JS Global, the recent turmoil in Bangladesh alongwith the restrictions on China have led to clothing importers across the globe increasingly shifting orders to alternative markets like Pakistan, India, and Vietnam. As a result, Pakistan RMG exports grew by 28 per cent in Aug’24 while knitwear and bedwear exports increased by 15 per cent.
This shift in demand has allowed Pakistani exporters to secure higher prices for textile products. During Aug’24, average knitwear prices rose by 14 per cent Y-o-Y, while RMG prices expanded by 58 per cent. Leading Pakistani textile firm, Interloop Ltd (ILP) is expected to benefit significantly from this with declining input costs and rising export prices boosting the company’s profit margins.
Additionally, a rebound in cotton prices has further supported the value-added textile sector. Since July 2024, international cotton prices have increased by 20 per cent, and local cotton prices have risen by 8 per cent. However, Pakistan's domestic cotton production has fallen short of expectations. The industry projects an output of 6.5-7 million bales this year, significantly lower than the government's target of 10.8 million bales for FY25. This shortfall is attributed to a decrease in the area under cultivation and adverse weather conditions.
The reduced cotton crop has forced Pakistani textile manufacturers to increase cotton imports by 8 per cent during the first two months of FY25. Despite a 20 per cent recovery in international prices, cotton imports remain 13 per cent lower than the same period last year, partially offsetting the gains in export prices.
A manufacturer for brands like Wacoal, Freya, Fantasie, Elomi and Goddess, Walcoal Europe has acquired the UK-based lingerie and swimwear retailer Bravissimo.
Founded in 1995 by Sarah Tremellen and her husband, Bravissimo has grown into a go-to destination for fuller-bust lingerie and swimwear. Under the new ownership, Bravissimo will continue to operate as a separate company, with Leanne Cahill continuing as the CEO, a role she has held since 2020 when Tremellen became the chairperson.
The acquisition follows a successful 2023 for Bravissimo, with the company’s underlying EBITDA more than doubling from the previous year. Reflecting on the milestone, Tremellen says, both Bravissimo and Walcoal Europe have played pivotal roles in expanding the range of bigger cup sizes in the UK over the last 30 years.
Geoff Embley, CEO, Wacoal Europe, adds, this partnership strengthens Wacoal Europe’s shared vision and expands its mutual mission to deliver perfectly fitting lingerie and swimwear.
Bravissimo will continue to operate from its Leamington Spa office and warehouse, with all UK stores remaining open. The acquisition comes at a celebratory time for the company, which recently won the Customer Service Team of the Year award at The Retail Bulletin’s People in Retail Awards.
VF Corp is appointing Chris Goble, Chief Product Officer and General Manager, Gap North America as the new Head of its workwear brand Dickies
This appointment represents the ninth leadership change made by Bracken Darrell, CEO since he joined VF Corp. in July 2023. Under his leadership, the company has seen a series of high-profile shifts, including the replacement of the chief design officer and the head of the Vans brand. Todd Dalhausser, the previous general manager of Dickies, has transitioned to lead the North Face Americas.
In a recent report, Adrienne Yih, Analyst, Barclays, emphasised, these leadership changes have brought bring significant improvements throughout the organisation over the past year.
Known for its overalls and pants, Dickies is refocusing on its workwear roots after struggling to establish itself as a fashion brand in the US. During the latest earnings call, Darrell acknowledged, the brand had ‘moved too fast’ in this direction, resulting in a loss of footing in its core work business. This contributed to a 15 per cent decline in Dickies revenue in the three months ending in late June, while Vans experienced a 21 per cent revenue contraction in the same period.
For the first time, specialised sports trade show ISPO Munich will be held in collaboration with the Danish fashion show Copenhagen International Fashion Fair (CIFF).
To run from Dec 03-05, in Munich, ISPO Munich will hold a partner stand for CIFF where Danish brands from the denim, sportswear, streetwear and sneaker sectors will showcase their newest collections.
ISPO Munich will also have dedicated hall for showcasing.athleisure, sports fashion and streetwear within the Zeitgeist by ISPO, a fashion-focused section that debuted for last ISPO edition and the ISPO 520M concept area hosting outdoor market novelties.
One of the most important platforms for the international fashion industry, CIFF has evolved from being a regional trade fair into a more international inspiring trade platform that showcases some of the industry’s most future-orientated brands. Since its foundation in 1993, the fair has been dedicated to promoting excellent design, fashion-forward innovation and high-quality fashion at a democratic price point.
The exhibiting CIFF brands from the denim, sportswear, streetwear and sneaker sectors will showcase further innovations and help amplify the importance of ISPO Munich as a global platform for the sports business. In return, CIFF will welcome a selected number of the ISPO Munich partnering brands to present the Danish f/w 2025 Copenhagen Fashion Week for the 64th edition of CIFF.
This year’s ISPO Munich brand portfolio will include participants such as Veja, Amundsen, Haglöfs, Bellroy, Mey, Quartz Co, Sandqvist, We Norwegians, Varsity Headwear, Snowpeak, And Wander, Stereo Skis, Two. One–at the Zeitgeist by ISPO area–and Hoka, Faction, Adidas Terrex, Asics, Columbia + Sorel, Stanley, Dolomite, Zalando and Smart–at Ispo 520M, in addition to the brands selected by CIFF.
