FW
Target is launching its first denim take-back event in all Target stores from Aug 4-10, 2024. The initiative allows customers to recycle their used denim, regardless of brand or condition, and receive a 20 per cent discount on new denim purchases. This promotion applies to both national brands like Levi's and Target-owned brands such as Universal Thread, Wild Fable, Goodfellow& Co., and Cat & Jack.
The denim take-back event builds on the success of Target's car seat trade-in program, which has recycled 2.6 million car seats and 39.7 million pounds of material since 2016. Gena Fox, Senior Vice President -Merchandising - Apparel and Accessories, says, the company is offering 20 per cent off Target Circle deal to make it even more affordable for customers to refresh their denim wardrobes while also contributing to waste reduction waste and keeping used denim out of landfills.
Denim is a major category within Target's apparel portfolio. The company owns brands like Universal Threads, Wild Fable, Goodfellow & Co, and Cat & Jackalong with with national brand partners like Levi's.The popularity of new styles and fits, such as baggy and cargo silhouettes, as well as straight and relaxed fits, continues to grow in the market, she notes.
Brixton's new Fall 2024 collection embodies the brand's rich heritage and dedication to celebrating diversity and individuality within communities. The collection showcases an extensive range of apparel and headwear, meticulously designed for comfort and durability, suitable for any season. This season, Brixton has expanded its offerings with tailored trousers and novelty bottoms, seamlessly blending functionality with a refined aesthetic.
A key highlight of the collection is its versatile day-to-night styling, featuring cozy cardigans, soft lounge sets, vintage-inspired slips, and statement accessories. These pieces are designed to make a statement while ensuring the wearer feels comfortable and stylish throughout the day. The collection captures the laid-back yet sophisticated vibe that Brixton is known for, offering wardrobe staples that can transition effortlessly from casual daywear to chic evening attire.
Inspired by the unique style of singer-songwriter Zella Day, the collection's garments reflect the various facets of a musician's day-to-day life. Each piece is crafted to embody the essence of Zella Day's life and artistic expression, showcasing elements that resonate with her free-spirited, bohemian style. The collection incorporates boho-chic elements with a modern twist, making it perfect for those who appreciate fashion that tells a story and exudes personality.
Additionally, the collection emphasises a commitment to quality materials and craftsmanship, ensuring that each item not only looks good but also stands the test of time. The thoughtful design and attention to detail make this collection a standout, offering pieces that are both fashionable and practical. Whether it's the intricate embroidery on a vintage slip or the perfect fit of a tailored trouser, every element is carefully considered to provide a cohesive and inspired wardrobe.
India and the United Kingdom are in the final stages of negotiating a Free Trade Agreement (FTA), with the textile and apparel sector poised for significant benefits. The deal has the potential to reshape trade flows, boost exports, and create a win-win situation for both nations. Rajeev Saxena, Joint Secretary, Ministry of Textiles opines, "The FTA will provide a level playing field to Indian textile exporters and help exports grow significantly. We are confident that the FTA will be a win-win for both India and the UK."
Current state of play
India and the UK share a long-standing trade relationship in the fashion, apparel, and textile sectors. However, existing tariffs and regulatory hurdles have somewhat constrained the full potential of this partnership. India is currently the fifth-largest apparel supplier to the UK, with exports valued at approximately $1 billion annually. The sector faces challenges due to the 10 per cent duty imposed on Indian apparel exports to the UK, putting it at a disadvantage compared to competitors like Bangladesh, which enjoys duty-free access under the Least Developed Country (LDC) scheme. As Sanjay Jain, Managing Director of TT Ltd and former Chairman of CITI points out, "The FTA with the UK is a much-needed boost for the Indian textile industry. It will level the playing field with Bangladesh and enable us to tap into the full potential of the UK market."
Table: India's apparel exports to the UK
|
Year |
Value ($ mn) |
Growth rate (%) |
|
2019 |
950 |
3.2 |
|
2020 |
820 |
-13.7 |
|
2021 |
1050 |
27.4 |
|
2022 |
1120 |
6.7 |
The FTA is expected to eliminate tariffs currently ranging from 4 to 12 per cent on Indian textiles and apparel entering the UK market. This can significantly improve the competitiveness of Indian products, potentially leading to a $5 billion gain in exports according to the Global Trade Research Initiative (GTRI).
FTA, a catalyst for growth
Industry leaders believe the FTA can be a game-changer, unlocking new opportunities for both countries.
Tariff reduction: The elimination or substantial reduction of tariffs on textiles, apparel, and fashion products is expected to make Indian exports more competitive in the UK market.
Level playing field: The FTA is anticipated to level the playing field with competitors like Bangladesh, enabling Indian exporters to offer more competitive prices.
Rule of origin: Clear and simplified rules of origin will facilitate trade and boost investor confidence. Moreover Indian exporters can explore new product categories and cater to the evolving preferences of UK consumers.
Investment facilitation: The FTA is anticipated to encourage investments in the textile and apparel sector in both countries, leading to job creation and technology transfer.
Intellectual Property Rights: Strong IPR protection will safeguard the interests of fashion designers and brands.
The FTA is also expected to significantly boost Indian exports of apparel, textiles, and fashion accessories to the UK.
Table: Projected growth in Indian exports post FTA
|
Product category |
Projected growth (%) |
|
Apparel |
25-30 |
|
Textiles |
20-25 |
|
Fashion Accessories |
30-35 |
In terms of product segments, India has a strong foothold in women's apparel, with a wide range of products from ethnic wear to contemporary fashion. The UK is a major market for home textiles, and Indian exporters are well-positioned to capitalize on this demand. Moreover, India's cotton production prowess can be leveraged to increase exports of cotton-based apparel and textiles. As the negotiations for the India-UK FTA progress, the fashion, apparel, and textile sector is eagerly awaiting the final agreement, which is expected to unlock new avenues for growth and prosperity.
Sensitive Fabrics by Eurojersey has launched new 2026 summer collection titled, ‘Radiant.’ Embodying a new lifestyle marked by the ever-growing dream of living without restrictions and boundaries, the collection reflects a relaxed rhythm and a holiday spirit filled with summer light. Driven by a desire to explore and live freely, the collection embraces a nomadic way of life that easily adapts to changing habits and moves without geographical or temporal constraints. It fosters a slower, more serene, and mindful daily rhythm.
The collection showcases three key trends: Greek Breeze, Palm Royale, and Tropical Vibes. Itdelineates an exotic journey through sunny cultures and vibrant atmospheres, creating an imaginary itinerary that blends European elegance with the tropical allure of Miami and the lively energy of South America. These travel destinations, each with unique characteristics, evoke a vivid summer image. The warm, radiant light of the season permeates the colors and prints, making them bright, saturated, and visually linking different cultures and landscapes.
Renowned for their patented textile construction, Sensitive Fabrics are ideal for the swimwear industry. They offer high performance, including 50+ sun protection, breathability, and quick-drying capabilities. These fabrics are resistant to the effects of chlorinated and salt water, sunscreen, and are ten times more heat-resistant than other materials. With three-dimensional elasticity and proven shape and color retention, they result from innovative technology that creates protective and versatile swimwear.
A report titled, ‘What Fuels Fashion?’ by Fashion Revolution, recognises Puma as the top performer among 250 major fashion brands and retailers. The report evaluatesthe companies' efforts to reduce greenhouse gas emissions, focusing on public self-disclosure about their decarbonisation strategies across their operations and supply chains.
The assessment covers five key areas: accountability, decarbonisation, energy procurement, financing decarbonisation, and just transition and advocacy. Puma received an impressive overall score of 75 per cent, placing it at the forefront of the evaluated companies. However, the report highlights a concerning trend: the fashion industry as a whole is still significantly behind in meeting climate targets and reducing emissions.
Anne-Laure Descours, Chief Sourcing Officer, Puma, emphasises, there is a need for collective action across the industry to achieve climate goals.
In 2023, Puma set new greenhouse gas reduction targets, approved by the Science Based Targets Initiative (SBTi), after achieving its previous goals seven years ahead of schedule. By 2030, the brand aims to reduce its absolute Scope 1 and 2 greenhouse gas emissions by 90 per cent from a 2017 baseline and has also committed to a 33 per cent reduction in absolute Scope 3 emissions from its supply chain and logistics compared to 2017 levels.
Renowned Italian luxury brand, Salvatore Ferragamo experienced a 41 per cent decline in operating profit during H1, FY24. This decline reflects a challenging economic environment and weakened consumer demand across all major regions.
The company's EBIT reached €28 million ($30.2 million) in the first half of the year, which, although a significant drop, was better than expected. Analysts had anticipated a sharper decline to €20 million, as reported by Italian broker Equita. This beat suggests that while the company faced headwinds, it managed to maintain a level of profitability beyond market expectations.
The group's overall revenues fell by 6 per cent at constant exchange rates in the second quarter. This decline was driven by various factors, including the ongoing challenges in the global luxury market and specific regional issues.
The company faced considerable difficulties in the Asia Pacific region, which has traditionally been a strong market for luxury goods. The consumer environment in this area was particularly challenging, leading to a notable decline in sales. This region's performance significantly impacted the company's overall financial results.
While Asia Pacific struggled, there were positive trends in other parts of the world. However, these positive trends were not sufficient to counterbalance the declines experienced in the Asia Pacific.
Marco Gobbetti, CEO, says, despite challenges, the company remains focused on navigating the tough market conditions and leveraging its brand's strength and heritage to achieve long-term growth.
A recent report titled What Fuels Fashion?, by Fashion Revolution indicates, major fashion brands including DKNY, Tom Ford and Reebok have failed to outline plans to reduce carbon emission emissions in their supply chain.
The report ranks 250 of the world's largest fashion brands and retailers, each with a turnover of $400 million or more. It evaluates these brands based on 70 sustainability criteria, such as emissions targets, supply chain transparency, and the use of renewable energy in factories. As per the report, only four out of 250 brands have met the emissions reduction targets set by the United Nations. While 117 brands had decarbonisation targets, only 105 disclosed updates on their progress, with 42 reporting increased scope-3 emissions compared to their baseline year.
Additionally, the report highlights that 86 per cent of companies lack a public coal phaseout target, and 94 per cent do not have a public renewable energy target. Only 43 per cent of brands are transparent about their energy sources.
Another major concern for the brands is overproduction. Almost 89 per cent of large fashion brands failed to disclose the number of garments they produce annually. The industry's impact on supply chain workers, particularly in regions prone to severe weather events, is also troubling. In countries like Bangladesh, extreme weather conditions, such as floods, pose significant risks to workers. The report notes that only 3 per cent of major brands disclose efforts to support workers affected by the climate crisis.
Maeve Galvin, Global Policy and Campaigns Director, Fashion Revolution, emphasises the potential for the fashion industry to make a positive impact. She states, by investing at least 2 per cent of their revenue into clean, renewable energy and upskilling and supporting workers, fashion could simultaneously curb the impacts of the climate crisis and reduce poverty and inequality within their supply chains.
Expressing concerns over the critical condition of the domestic textile industry, Farhan, AqilSyauqi, Executive Secretary, Indonesian Filament Fiber& Yarn Producers Association (APSyFI) says, the release of 26,000 containers containing illegal imports at the port has further exacerbated the situation in Indonesia’s textile industry.
As factories continue to remain shut and thousands of employeeslaid off, Syauqi blames AirlangaaHartarto, Coordinating Minister for Economic Affairs and Sri Mulyani, Minister of Finance for the crisis. He alleges,information regarding the contents of the containers was never made public, and even the ministers responsible for trade and industry were unaware of what was inside.
The association has demanded transparency and clarity regarding the contents of the containers, emphasisingon the need for firm action by the government. The association calls for decisive measures to safeguard the domestic textile industry from the adverse impact of these illegal imports.
A global leader in sustainable chemicals, Indorama Ventures Public Company has joined the innovative T-REX (Textile Recycling Excellence) Project. This ambitious initiative aims to establish a harmonised blueprint across the European Union for the closed-loop sorting and recycling of household textile waste, facilitating the fashion industry's transition towards a circular and sustainable future. By uniting key stakeholders across the entire value chain, the T-REX Project positions itself as a frontrunner in sustainable innovation.
As the designated spinning partner, Indorama Ventures will process chemically recycled feedstock into polyester yarns and fibers through the extrusion process, ensuring the removal of impurities. This role aligns with the company's broader goals of promoting the circular economy and advancing the circular fashion industry through PET recycling and the supply of recycled materials. It underscores Indorama Ventures' strong commitment to sustainability.
Diego Boeri, Executive President-Fiber Business, Indorama Ventures, says, utilisingcircular feedstock across the value chain to help partners achieve their sustainability goals, Indorama Ventures plans to leverage its technical expertise to boost textile-to-textile recycling within the T-REX Project.
Funded by the EU, The T-REX Project aims to create a unified system for post-consumer textile waste recycling in Europe. It brings together a consortium of 13 major players from across the value chain, alongside research institutes, to transform end-of-life textiles from waste into valuable feedstock. The project's goal is to develop new business models that can be scaled up, ultimately making a significant impact on the sustainability of the textile industry.
A prominent player in the textile industry, RSWM plans to set up a new production unit in Jammu & Kashmir with an investment of Rs 730 crore. Spanning 32 acre, the upcoming facility will expand the region's industrial landscape and contribute to its economic development.
To be operational within the next 18-24 months, the new production facility will manufacture a wide range of textile products, leveraging advanced technology and machinery to ensure high-quality output. The plant will include state-of-the-art infrastructure, adhering to international standards and sustainability practices.
One of the key highlights of this project is its potential to create employment opportunities for around 3,000 individuals. This will not only provide job prospects for the local population but also enhance skill development in the region. The new unit will employ a diverse workforce, including skilled technicians, engineers, and administrative staff, contributing to the socio-economic upliftment of the area.
RSWM's decision to invest in Jammu & Kashmir underscores its commitment to foster industrial growth and supporting the government's initiatives to promote investment in the region. The company's move aligns with broader efforts to stimulate economic activity, attract investment, and develop the region's infrastructure. By setting up this facility, RSWM aims to strengthen its market position, expand its product portfolio, and meet the growing demand for textiles in both domestic and international markets.
