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At a meeting of the Steering Committee held on Aug,28, 2024, Rahul Mehta, Chief Mentor, CMAI, emphasised on the significance of the trade show, Bharat Tex 2025, saying, it will showcase the entire textile value chain.
Scheduled from Feb 14-17, 2025, the Bharat Tex 2025 expo has a unique ability to present a holistic view of the textile industry, from fiber to finished garment, all under one roof. It offers international buyers a rare chance to experience the full breadth of India’s textile capabilities, Mehta remarked.
He also highlighted the event’s focus on sustainability stating, it will emphasiseIndia’s advancements in sustainable textiles. With the global demand for eco-friendly products on the rise, India is positioning itself as a leader in sustainable manufacturing, he added.
Besides highlighting India’s prowess in garments and fabrics, Bharat Tex 2024 showcases the country’s extensive capabilities across the entire textile sector. Last year’s edition of the event had significant impact on global trade while this year’s event is also expected to attract a substantial number of buyers, Mehta affirmed.
It will play a crucial role in supporting the government’s ambitious target of achieving $100 billion in textile exports, he added.
Reopening of the Malungushi Textiles Factory, a China-Zambia joint venture in Kabwe, central Zambia commenced recently with the arriving of the first batch of equipment and machinery. The factory is set to resume production after a hiatus of 17 years, creating approximately 500 direct jobs.
Once one of Zambia's largest textile companies, Mulungushi Textiles was originally established as a joint venture between the Zambian defense ministry and China's Qingdao Textiles, with support from the Chinese government. The factory ceased operations in 2007.
The decision to redevelop Mulungushi Textiles was announced during Zambian President HakaindeHichilema's state visit to China in September last year, which focused on establishing a comprehensive strategic cooperative partnership between the two nations.
During the reopening ceremony of the textile unit, ChipokaMulenga, Commerce, Trade, and Industry Minister, Zambia, highlighted, revival of the factory would not only stimulate economic development in the Central Province and surrounding regions but also revitalise the domestic cotton industry.
Historically, Mulungushi's core operations included spinning, ginning, garment manufacturing, weaving, dyeing, and printing cotton materials for the country's defense forces and Zambia Police Service. The company also exported to neighboring countries within the Common Market for East and Southern Africa (COMESA), benefiting from a duty-free facility on imports created by the United States.
Set to return from Sep 03-07 in Seoul, South Korea, the upcoming edition of Seoul Fashion Week will focus on the theme of sustainable fashion. The fashion week will feature a variety of programs focusing on sustainability, with participation from companies like Hyosung TNC, JejuSamdasoo, and the fashion brand Partsparts.
JejuSamdasoo will present its collaborative designs on the runway alongwith the designer brand July Column. The showcased items are crafted from recycled fibers made from empty PET bottles supplied by JejuSamdasoo and repurposed materials from July Column’s existing collections. This show is scheduled for Sep 4 at the Dongdaemun Design Plaza (DDP) in Jung District, central Seoul.
Fashion brand Partsparts will hold a special exhibition titled ‘Zero Waste, Fashion and Sustainability’ from Sep 03-07 at DDP JandiSarangbang in Jung District. The exhibition will highlight the brand’s zero-waste philosophy, featuring its innovative design patterns, self-developed material ‘New Neoprene,’ and seamless bonding techniques aimed at reducing fabric waste. Additionally, from Sep 06-07, the brand will offer a hands-on experience for the public and students, allowing participants to create eco-friendly bags using leftover fabric from its production process.
Seoul Fashion Week is a bi-annual event showcasing brands' Spring/Summer (S/S) and Fall/Winter (F/W) collections. Organised by the Seoul Metropolitan Government, the upcoming fashion week will feature the brands' S/S’2025 collections. Events will be held across multiple locations in Seoul, including the main venue DDP in Jung District, Seongsu-dong in Seongdong District, Cheongdam-dong in southern Seoul, and Hannam-dong in central Seoul.
Textile and apparel (T&A) exports by the United States witnessed a 3.17 per cent declineto $11.5 billion during H1, FY2024. Beginning in the first quarter of the year, this decline persisted throughout the following months, reflecting a broader trend of decreasing exports that had already been notable in 2023. Meanwhile, imports by the country also contracted, largely due to ongoing inflationary pressures.
The primary destinations for T&A exports from the United States remained Mexico and Canada who imported textiles and clothing worth $6.1 billion and $4.2 billion from the country respectively during this period. Exports to the European Union dropped by 11.2 per cent over the six months to $1.2 billion. Exports to China remained constant at $361 million, outpacing the Dominican Republic, the UK, and Japan in market size.
Similarly, T&A imports by the United States also declined by 3.58 per cent to $49.3 billion in H1, FY24. Inflation was one of the primary reasons of this decline, causing concerns among both consumers and brands, despite signs of a slowdown since July. China remained the largest exporter of T&A to the US, with exports worth $11.1 billion in H1, 2024.
China was followed by Vietnam with exports worth $7.2 billion to the US. India exported T&A products worth $4.7 billion to the US while exports by Bangladesh dropped by 10.6 percent.With exports worth $2.8 billion to the US, the European Union experienced a 2.9 percent decline and was the fifth largest supplier, leading Indonesia, Mexico, Cambodia, and Pakistan.
Fashion retailer has renewed its partnership with Tata Consultancy Services (TCS) for an additional five years to transform its technology operations to support its ambitious global expansion plans.
An international fashion retailer with a presence in 17 countries across Europe and the US, Primark seeks to build a more resilient, reliable, and efficient IT operating environment. TCS will support Primark's transition to a more agile, product-based operating model through automation and the adoption of intelligent automation and Devops technologies.
This new approach will streamline application development, testing, and maintenance processes, ultimately reducing time-to-market for Primark's products and aligning with its growth strategies.
Andrew Brothers, Chief Information Officer, Primark, emphasises, this collaboration ensures that the retailer is able to respond swiftly to market trends and customer demands, thus continuing to offer high-quality products at competitive prices.
Shekar Krishnan, Vice President and Head of Retail UK and Europe , TCS, adds. the partnership supports Primark's mission to provide affordable fashion globally and helps them achieve their growth vision through innovation and technology.
Luxury fashion house, Lanvin Group registered a 20 per cent Y-o-Y decline in revenue to €171 million in H1, FY24, The firm’s gross profit margin fell by 1 per cent to 57.5 per cent. Its adjusted EBITDA also decreased by €1 million due to proactive cost management, leading to a loss of €42.1 million.
Despite these setbacks, the gross profit margins of the group’s brands including Lanvin, St. John, and Caruso improved significantly asthey benefitted from a better full-price sell-through and strategic inventory management. The group faced difficulties in the global luxury market, particularly in the EMEA region and Greater China, as well as a weakened wholesale channel. However, the Lanvin brand experienced strong growth in the APAC region outside of Greater China.
Revenues of the brand Wolford declined by 28 per cent to €43 million due to significant shipping delays caused by integration issues with a new logistics provider, and the challenging wholesale market in Europe further impacted its performance. Its gross profit margin fell from 72 per cent to 63 per cent.
Brand Sergio Rossi’s revenue contracted by 38 per cent to €20 million, with a 49 per cent decline in EMEA and a 22 per cent drop in APAC, including a 34 per cent decline in Greater China. Despite these challenges, the brand’s gross profit margin remained relatively stable at 50 per cent.
St. John’s revenue decreased by 14 per cent to €40 million, with consistent declines across distribution channels.The brand’s largest market, North America registered a 10 per cent decline in revenues, while revenues from APAC declined by 46 per cent due to general market softness. However, the brand's gross profit margin increased significantly from 62 per cent to 69 per cent, driven by better full-price sell-through and an improved channel mix.
Currently, Lanvin Group is focusing on initiatives to increase retail and digital traffic and implement operational cost efficiencies to improve DTC profitability as it navigates through a challenging market environment in 2024.
Newly launched upcycling service, Newless is revolutionising sustainable fashion by offering a 'bespoke' experience to customers to transforms preloved garments into custom, fashion-forward pieces. Through this initiative, the brand makes upcycling more accessible and appealing to a wider audience, thereby helping reduce the environmental impact of the fashion industry.
Recogniaing that unworn clothes are often left forgotten in wardrobes, and consumers often find it challenging to shift from fast fashion to sustainable alternatives, Newless offers an easy and creative solution. The company revitalises old garments, providing designers an opportunity in the sustainable fashion market.
Founded by Anita Shannon, Newless employs emerging UK designers to reconstruct old, outdated and undesirable garments into pieces to be cherished by their owners. Through this initiative, Newless aims to demonstrate that upcycling cannot just be fun, accessible, and affordable, but can also offer a stylish, lower-impact alternative.
Newless has already hosted several successful pop-up events in collaboration with organisations and brands in London, showcasing the appeal and potential of upcycled fashion.
The textile sector in India willwitness significant growth in H2, FY25, as per a report by Systematix Institutional Equities.
According to the report, this growth will be driven by an increased demand momentum and volume growth surpassing inventory levels. Some of the key factors contributing to this growth will include easing inflation, normalised channel inventories, improved supply chain dynamics, and the prospect of interest rate cuts.
The report also highlights global shifts in supply chain strategies, particularly due to the China +1 policy and the political instability in Bangladesh, as factors prompting global brands to reconsider their heavy reliance on Bangladesh. This has led to alternative sourcing options like India, Vietnam, Cambodia, and Sri Lanka gaining traction.
While the Indian textile industry has faced export challenges due to disruptions in the Red Sea region, the spinning sector is showing signs of recovery with a moderate increase in both domestic and export demand. Retail demand has remained strong, creating a robust environment in the second half of the fiscal year. Financial performance metrics for textile companies in Q1 FY25 revealed significant year-on-year growth in revenue, EBITDA, and PAT, driven by higher volumes and reduced raw material costs.
However, the industry continues to contend with rising domestic cotton prices that have increased to Rs 58,000-60,000 per candy. This price hike makes the Indian textile industry less competitive on the global stage, particularly due to the decline in international cotton prices. Despite this, garment sales volumes increased by 11 per cent Y-o-Y in Q1 FY25 as demand in global retail industry resurged leading to liquidation of the unsold inventory.
Driven by its aggressive digital and omnichannel expansion, robust wholesale and retail performance, and strategic partnerships, G-III has set its fiscal 2025 net sales guidance at $3.2 billion, reflecting a 3 per cent increase from the previous year.
The company is strengthening its presence in Europe besides reducing reliance on PVH brands and targeting high-growth markets like India and China.
G-III Apparel is also advancing its digital and omnichannel strategies by upgrading e-commerce platforms for DKNY and Karl Lagerfeld Paris, focusing on enhancing their digital presence, CRM capabilities, and loyalty programs. In Europe, the company is leveraging AWWG’s infrastructure and increasing its stake from 12 per cent to 19 per cent, with additional growth opportunities in India.
In North America, G-III is making significant investments in marketing to boost global brand awareness and sales, with plans to add over 2,500 points of sale this fall. The company’s first-quarter fiscal 2025 wholesale net sales increased to $598 million while retail sales rose to $31 million.
All brands of G-III Apparel demonstrated substantial growth in FY24, with DKNY achieving double-digit sales increases and Karl Lagerfeld expanding its distribution network. The successful relaunch of Donna Karan has further strengthened the company’s portfolio. As a result,
Despite these achievements, G-III faces challenges from shifting consumer spending patterns due to inflationary pressures, which may impact short-term performance. In FY25, the company projects adjusted net income will decline to $10 - $15 million from the previous year.
BrunelloCucinelli, Executive Chairman, and Creative Director, of his bespoke Italian luxury label projects, the brand’sales will grow by 10 percent in both 2024 and 2025with its turnover doubling by 2030.
For the six months ending June 30, the brand’s net profit grew by 31.1 percent growth to €66.1 million.Its revenues increased by 14.1 per cent to €620.7 million from €544 millionin the same period of 2023. Operating profit rose by 19.3 percent to €104.6 million, while earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 14.8 percent to €177.8 million.
The brand’s revenues in the Americas expanded by 19.4 per cent to €225.6 million during H1, FY24. Driven by local consumers and tourists from the US and Asia, revenues from Europe increased by 7.8 percent to €153 million. Sales from Italy rose by 11.8 percent to €68.1 million. In Asia, revenues climbed 14.3 percent to €174 million.The brand’s global retail sales increased by 14.7 percent to €395.2 million during the period.
As of June 30, BrunelloCucinelliSpAoperated 126 stores including a new location in Miami’s Design District. It plans to open new stores in Toronto and Wuhan, China in the second half of the year.
