According to a report by Allied Market Research, the global women's activewear market is projected to reach $216,868 million by 2025, with a CAGR of 7.7% from 2018 to 2025. In 2017, the market was estimated to be $119,078 million, with North America accounting for 42.4% of the total revenue. Activewear, known for its utility and comfort during physical activities, is gaining popularity due to its benefits such as water resistance, bi-stretchable function, and anti-bacterial fabric. The rise in female participation in fitness activities and the adoption of athleisure wear for everyday use are major factors driving market growth. 

Additionally, increased disposable income and fitness concerns contribute to market expansion. However, high costs of raw materials and counterfeit brands pose challenges to market growth. The dynamic fashion trends greatly influence consumers, leading to the purchase of the latest activewear designs, while counterfeit brands hinder the sales of genuine activewear brands. Expansion into plus-size activewear and innovative marketing strategies, such as motivational advertisements and sponsorship of athletes, are expected to drive market penetration. 

Polyester fabric dominates the market due to its flexibility, quick-drying properties, and resistance to shrinkage and wrinkles. The active outerwear segment is projected to grow at a CAGR of 9.1% during the forecast period. 

North America is expected to remain the dominant market, while Asia-Pacific is anticipated to exhibit exponential growth. 

According to reports, there is a new arrangement that allows the use of Indian Rupees to cover import costs that are in line with Rupee-denominated export earnings. The necessary preparations for this arrangement have been completed. 

However, it should be noted that officials have made it clear that banks and businessmen are not allowed to purchase Indian Rupees using US dollars or any other foreign currencies for import payments. 

In addition to the existing US dollar transactions, this initiative introduces the use of INR for trade purposes. 

India's government takes proactive steps to establish the nation as a global center for sustainable and circular textiles. The Ministry of Textiles aims to map India's textile waste value chain, creating recycling clusters and seeking consulting agencies through a request for proposal (RFP). 

These efforts are crucial to secure India's future in textile exports as the country faces increasing demand for sustainable and recyclable products in major markets such as the EU. 

Currently, less than 1% of textile waste is recycled, highlighting the need for circular textile strategies. By embracing circularity, India aims to meet future demands while targeting a substantial increase in textile exports, reaching $100 billion within 5-6 years.

The apparel export industry in Bangladesh has seen a significant decline in the first five months of 2023 due to various factors such as a global economic slowdown, inflation, and US interest rate hikes. These factors have dampened demand for Bangladeshi garments, resulting in a decrease in both export value and volume. 

Several reasons contribute to this decline, including the lingering effects of the Covid-19 pandemic, the ongoing Russia-Ukraine war, and unsold inventory in the US and Europe. 

According to data from Otexa, Bangladesh's ready-made garment exports to the United States, its largest export destination, amounted to $3.30 billion from January to May, a notable 19.16% decrease compared to the previous year. The shipment volume also experienced a negative growth of 30.91% during the same period. In contrast, the overall apparel imports of the United States declined by 22.92% to $31.51 billion. 

While Bangladesh faced a decline in exports, it fared relatively better than China and Vietnam, which experienced contraction rates of 30.44% and 28.07% respectively. This can be attributed to US buyers shifting from China and the implementation of the China-plus policy. 

However, the ongoing Russia-Ukraine war has affected demand, resulting in high inventory levels among buyers and reduced work orders. Data also reveals changes in the US apparel market, with China's share declining and Bangladesh's share increasing. During the January-May period of 2023, the US imported $5.76 billion worth of apparel from China, a decrease from the previous year. 

Vietnam and India also experienced declines in apparel exports to the US. Despite the challenges, Bangladesh has maintained a relatively favorable position compared to its competitors. It is crucial to assess the changing dynamics and implement effective strategies to mitigate the impact of global economic factors on Bangladesh's apparel exports to the United States.

Guess, a renowned lifestyle brand operating in over 100 countries, has released its latest ESG Report titled "Our Best Today, Better Tomorrow." This comprehensive document highlights nine years of impressive sustainability accomplishments and sets the course for future commitments. 

A notable feature of the report is GUESS' inaugural 'double materiality assessment,' a meticulous process that identifies, updates, and prioritizes sustainability topics, thereby rejuvenating the brand's ESG strategy. 

The ESG assessment conducted by GUESS adopts a double materiality approach, carefully analyzing the significance and impact of various topics on both society and the environment, as well as their financial implications. 

The report focuses on three impact pillars: respect nature, be a good teammate, and get things done. GUESS' ESG Report adheres to globally recognized frameworks such as the Global Reporting Initiative (GRI) Universal Standards, the Sustainability Accounting Standards Board (SASB), the GHG Protocol, and the United Nations Sustainable Development Goals (SDGs). 

The company ensures strong accountability by seeking reasonable assurance from a third-party provider for key ESG metrics and disclosures during the FY 2022-2023 reporting periods. 

The brand also aims to ensure that 75% of global apparel materials are environmentally preferred by 2030, thereby elevating its design portfolio. GUESS intends to promote a circular economy through partnerships that focus on repair, reselling, and upcycling in key markets, as well as prioritize positive change for women through training opportunities with suppliers. 

The Europe India Centre for Business and Industry (EICBI) collaborated with Morten Lokkegaard, a Member of the European Parliament from Denmark, to invite leaders from Europe and India's textile industries. 

Unlocking opportunities 

They convened at the European Parliament in Brussels to discuss the pros and cons of an EU-India Free Trade Agreement (FTA) focused on the Textile & Clothing Industry. The conference emphasized the need for a strong partnership between the regions to transform the global textile market and drive progress in various sectors. 

Highlights the potential of ‘Textile Collaboration’

Government representatives, industry heads, academics, and civil society from both Europe and India explored avenues of collaboration, particularly in textile cooperation and the proposed FTA. Key discussions addressed challenges faced by European companies in India, advocated for a zero-duty policy for textiles, focused on market access privileges, eliminated non-tariff barriers, and emphasized policy alignment. 

Demonstrability 

The event showcased the complementary strengths of the EU and India in the textile industry and discussed the possibility of an early harvest approach to expedite progress and foster confidence. This milestone event lays the foundation for an enhanced textile partnership, creating remarkable opportunities for a prosperous future.

H&M Group CEO Helena Helmersson's recent visit to Dhaka, where she met with Prime Minister Sheikh Hasina, was seen as a positive encounter. 

However, the company now faces backlash for its decision to lay off 46 employees from its Dhaka office just before the Eid al-Adha festival, prompting concerns about compassion and violating sustainability principles. As one of the largest buyers in Bangladesh's apparel industry, 

H&M sources from over 250 factories and purchases approximately $3 billion worth of products annually. While the company claims to follow local laws and regulations, critics view the terminations as brutal and part of a larger cost-cutting plan amid the global economic slowdown. 

This move follows H&M's previous layoffs during the COVID-19 pandemic, further fueling discontent. Many individuals and organizations emphasize the need for H&M to take responsibility for its staff, considering its substantial profits earned through cheap labor in countries like Bangladesh. 

They argue that companies should share their profits and establish emergency funds to support employees during crisis periods. Meanwhile, despite challenges such as energy shortages, inflation, and declining foreign exchange reserves, Bangladesh's apparel sector has shown progress, with a 10.3% year-on-year growth in apparel exports for the fiscal year ending June 30. 

The industry's expansion has been fueled by higher-value items and increased market shares in nontraditional markets like Japan, Korea, and India.

Luxury fashion, characterized by its premium, exclusive, and high-price tag products, is experiencing remarkable growth in the global market. With the expanding fashion industry and the increasing demand for aesthetic products, the luxury fashion market reached a size of US$ 237.0 billion in 2022. Looking ahead, market analysis by IMARC Group projects a significant growth rate (CAGR) of 3.60% during the period of 2023-2028, with an expected market value of US$ 294.7 billion. 

Luxury fashion encompasses various categories, including clothing and apparel, footwear, watches, jewelry, fashion accessories, designer handbags, perfumes, cosmetics, and more. These products are renowned for their elevated quality, exclusive nature, and high-value aesthetics. 

Crafted with high-grade materials and superior craftsmanship, luxury fashion items often serve as a status symbol, driving their extensive demand among both male and female consumers worldwide. Several factors contribute to the growth of the luxury fashion industry. 

Shifting consumer preferences towards high-quality and stylish clothing, featuring advanced technical fabrications and craftsmanship, are key drivers of market expansion. 

The rise of social media promotions and celebrity endorsements has propelled the popularity of premium fashion brands, further establishing them as status symbols. Additionally, leading market players' adoption of sustainable production methods, such as utilizing ethically sourced, recycled, or eco-friendly materials, reflects the industry's heightened environmental concerns and positively impacts market growth. 

The incorporation of augmented reality (AR) in the fashion industry has revolutionized the shopping experience, enabling customers to virtually explore and make purchases from the comfort of their homes. This technology-driven innovation has significantly stimulated the global luxury fashion market. 

Moreover, the growing demand for customization, premiumization of superior quality and designer products, and the increasing brand loyalty among customers are expected to further propel the market's growth in the forecasted period. As the luxury fashion market continues to flourish, key players in the industry are actively driving its evolution. 

In-depth profiles of these influential market players can be found in the comprehensive report, offering valuable insights into their strategies and contributions to the market's competitive landscape.

EU apparel imports from the world experienced a significant decline of 7.62% during January-April 2023, reaching a total of US$29.83 billion. The quantity of clothing imports also saw a steep downturn of 15.45%. 

Winners and Losers in EU Apparel Imports 

Among the top ten sourcing countries for EU apparel, Vietnam and India demonstrated positive growth, while imports from other countries declined notably. 

Bangladesh: Decline in Imports 

In terms of EU apparel imports from Bangladesh, there was a 6.25% decrease in dollar value, amounting to US$7.06 billion from January to April 2023, compared to US$7.53 billion during the corresponding period in 2022. The quantity of imports from Bangladesh also declined by 12.48% during this period. 

China and Turkey: 

Decrease in Imports EU imports from China witnessed a dip of 17.07% in dollar value and 21.05% in quantity. Similarly, during January-April 2023, the EU’s imports from Turkey, the third-largest apparel source, declined by 13.68% in value and 24.66% in quantity. 

India and Vietnam: 

In contrast, the EU’s imports from India and Vietnam experienced slight growth of 0.45% and 3.41%, respectively, in value terms. However, imports from both countries declined by 8.17% and 7.26% in quantity, respectively. 

Decline in Imports from Other Sourcing Countries 

Simultaneously, the EU’s imports from other top sourcing countries, such as Cambodia, Pakistan, Morocco, Sri Lanka, and Indonesia, decreased by 5.59%, 7.52%, 16.61%, 17.16%, and 7.99%, respectively, in value terms. 

Unit Price Analysis 

Analyzing the unit price (USD value/kg), the EU’s cumulative unit price of imports from Bangladesh increased by 7.12% (from US$16.98 to US$18.19). 

This rise reflects higher raw material and production costs,  ignalling progress towards the higher price segment. Average unit prices of imports from other countries also experienced an upward trend during the mentioned period.

According to Amazon, Indian exporters participating in the Amazon Global Selling program are expected to surpass $8 billion in cumulative overseas sales this year. In the Exports Digest 2023 released by Amazon, it was revealed that exports from India through the program reached $5 billion in the previous year. 

The report highlighted the program's growth since its inception in 2015, with a current count of 125,000 exporters onboard. Notably, in 2022, 1,200 Indian exporters achieved sales exceeding Rs 1 crore. 

The report also provided insights into popular export categories, which include toys, home and kitchen products, and beauty items. Furthermore, emerging product categories like apparel, groceries, and health and sports equipment demonstrated promising potential for exports. 

In terms of regional distribution, Delhi emerged as the leading exporter, followed by Rajasthan, Maharashtra, Uttar Pradesh, Gujarat, and Madhya Pradesh. 

Amazon India optimistically highlighted recently the inclusion of a dedicated chapter on e-commerce exports in the FTP'23. This initiative aims to enable $20 billion in cumulative e-commerce exports from India by 2025. 

The report also disclosed that more than 266 million 'Made in India' products have been exported to customers in the US, the UK, the UAE, Canada, Spain, France, and Italy through the Amazon Global Selling program.