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Skechers projects its sales for the fiscal year 2024 will range between $8.875 billion and $8.975 billion.
The brand achieved record-breaking results during Q2, FY24 with sales rising by 7.2 per cent to reach $2.16 billion. It attributes this growth to a strong performance across all markets and channels, including a 7.7 per cent increase in domestic sales and a 6.9 per cent rise in international markets. Despite sales declining by 2.6 per cent decline in the APAC region, a 10.3 per cent gain in the Americas and a 3.9 per cent rise in the EMEA contributed to a 5.5 per cent growth in wholesale sales. The brand’s direct-to-consumer sales rose by 9.2 per cent, driven by a 40.6 per cent increase in EMEA, a 4.1 per cent expansion in the Americas, and a 5.8 per cent uptick in APAC.
The brand’s net earnings for the quarter declined to $140.3 million, compared to $152.8 million in the same period last year. John Vandemore, Chief Financial Officer, notes, the robust sales growth achieved by the company' despite significant operational and foreign exchange challenges, underscoreits position as a leader in comfort technology. It also encourages the company to raise its full-year guidance, adds Vandemore.
The Office of the Development Commissioner (Handloom), Government of India, is implementing the National Handloom Development Program and the Raw Material Supply Scheme to provide financial assistance to handloom agencies and workers. This would help them procure raw materials, upgraded looms and accessories, solar lighting units, constructworksheds, develop new products and designs, technical and common infrastructure, and market handloom products both domestically and internationally.
The government is also implementing the National Handicrafts Development Program and the Comprehensive Handicrafts Cluster Development Scheme to offer support in areas such as marketing, skill development, cluster development, direct benefits to artisans, infrastructure, and technology support.
While it has not established specific export targets due to the complexity of factors such as geopolitical situations, international market trends, market dynamics, and industry feedback, the Government continuously monitors export performance and takes various measures to boost textile exports.
Victoria's Secret has unveiled its latest collection, 'Victoria's Secret Dream,' featuring ForeeverStretch Lac-the softest lace to date.
Combining elegance with everyday comfort, the collection introduces Marshmallow Memory Foam bra padding for unparalleled relaxation.
The comprehensive collection includes bras, panties, and alluring sleepwear such as corsets, slips, babydolls, bodysuits, cami-sets, etc. Prices for the collection start at $44.95 for bras, $16.95 for panties, and $69.95 for sexy sleepwear. Sizes range from XS to XXL, with bra sizes covering bands 32-40 and cups A-G.
The collection offers beautiful intimates manufactured using the latest technologies, says Janie Schaffer, Head - Design and Creative Officer, Victoria's Secret & Co. It launched along with a captivating campaign featuring Candice Swanepoel, Devyn Garcia, Mayowa Nicholas, Taylor Hill, and BehatiPrinsloo. Shot by photographer Angelo Pennetta and styled by Emmanuelle Alt, the campaign was shot at the Longleat House in England.
Wrangler alongwith one of Europe’s largest vintage retailers, Beyond Retro has unveiled a new collection ofupcycled denim garments. A part of the Wrangler Reborn initiative, the collection features reworked pieces including the Greensboro straight leg jean, reworked shorts, the iconic jacket, and a heritage shirt.
Crafted from discarded Wrangler denim sourced by Beyond Retro, garments in the collection highlight the durability and longevity of Wrangler's fabrics. Each of its pieces is unique, with distinctive denim panel variances and fading. The collection is priced between $90 and $180.
Launched in 2022, Wrangler Reborn offers a curated selection of vintage and preloved denim dating from the 1950s to the 2000s. The collection’s launch coincided with Wrangler's 75th anniversary, emphasising the brand's rich heritage.
Known for its collaborations with brands to utilise used textiles and deadstock, Beyond Retro has previously launched collections with Converse, YMC, Gina Tricot, and Stuart Trevor, Founder, All Saints. The retailer also owns its own label, Beyond Remade, which is entirely made from discarded garments.
This partnership with Beyond Retro is part of a series of sustainable projects by Wrangler, which is owned by Kontoor Brands. In April, Wrangler joined Accelerating Circularity, a Walmart Foundation-funded non-profit focused on commercial-scale textile-to-textile recycling systems, to develop a new 5-pocket jean from upcycled denim. Additionally, Wrangler upcycled denim scraps and cardboard tubing to create a shade structure for a Texas sandlot baseball team.
Such partnerships are a part of Wrangler's ongoing strategic effort to prevent denim waste from ending up in landfills through systemic circularity practices, states Vivian Rivetti, Vice President-Global Design. These projects reaffirm the company's commitment to durability and longevity, he adds
After five years of holding the position, Diana Wyman has resigned from the post of Executive Vice President (EVP), American Association of Textile Chemists and Colorists (AATCC) effective August 9, 2024.
Post her resignation, Wyman will join Recreational Equipment Inc. (REI), a Silver corporate member of the Association. During her tenure at AATCC, Wyman also served as the Director -Publications, Membership, and Technical Departments. A member of the association since 2001, she actively participated in numerous administrative and technical committees.
In the interim, John (Jack) Daniels will take over the vacated post until a permanent replacement is found. Previously employed as the EVP of the association for over 20 years, Daniels will function as Executive Vice President, Emeritus.
During her tenure at the association, Wyman successfully guided AATCC through COVID-19 shutdowns and restrictions. She oversaw building enhancements, displays, and celebrations for the Association’s 100th anniversary in 2021. Wyman also negotiated and signed memoranda of understanding with Colombia and Sri Lanka for the national adoption of AATCC standards.
Besides, she played a pivotal role in forming AATCC’s e-textile committee and publishing a test method for measuring fiber fragment (‘microfiber’) release in laundering. She also presented papers on these and other testing-related topics at conferences and industry events globally.
US-based footwear giant Deckers Brands expects net sales during the entire FY 25 to grow by 10 per cent approximately to $4.7 billion.
Driven by a double-digit growth across all markets, the company’s net sales during Q1, FY25 increased by 22.1 per cent to $825.3 million.
Direct-to-consumer net sales of the California-based company rose by 24 per cent to $310.6 million for the fiscal quarter ending June 30, 2024. Wholesale net sales also expanded by 21 per cent to $514.8 million.
Regionally, domestic net sales of the company grew by 23 per cent to $515.9 million, while international net sales surged by 20.8 per cent to $309.5 million.
Brand-wise, Ugg sales rose by 14 per cent to $223 million, and Hoka brand sales jumped by 29.7 per cent to $545.2 million. These gains offset a 4.3 per cent decrease in net sales for Teva and a 28.4 per cent decline for Sanuk. Sales of other brands, mainly Koolaburra, skyrocketed by 123.5 per cent to $4.0 million.
The brand licensing division of Hela Apparel Holdings, Focus Brands has entered into an exclusive long-term licensing partnership with Reebok to design, source, and distribute Reebok-branded outerwear products for adults and kids in the UK and Europe.
A part of the Authentic Brands Group, Reebok boasts a rich heritage across various active pursuits. This collaboration expands Focus Brands' existing strategic relationship with the Authentic Brands Group and marks the first major milestone for the Hela Group since acquiring Focus Brands in January.
According to Ray Evans, CEO, Focus Brands, the company’s agreement with Reebok helps strengthen relationship with the team at the Authentic Brands Group. The joint venture is designed boost Reebok’s presence in the outerwear category by leveraging Hela Group’s manufacturing capabilities.
As per the agreement, Focus Brands will be Reebok’s exclusive brand licensing partner in the UK and Europe for its outerwear category, covering products for men, women, and kids, including outdoor jackets, soft shells, bonded fleeces, and padded jackets. These products will be available in specialty sports stores, major department stores, and e-commerce platforms across the region. Focus Brands will oversee all aspects of design, sourcing, marketing, and distribution.
This partnership represents Focus Brands’ strategic expansion with Authentic Brands and the first significant milestone for the Hela Group since acquiring Focus Brands in January. The group’s new licensing agreement with Reebok is a further step in growing Focus Brands into a world-leading brand management company.
Archroma, a global leader in specialty chemicals, has achieved a Gold rating from EcoVadis, positioning it among the top 5 per cent of over 130,000 companies evaluated for sustainability. This accolade underscores Archroma's commitment to environmental performance, ethics, labor rights, and sustainable procurement.
Mark Garrett, Group CEO, highlighted the company's dedication to sustainability through its 2030 environmental targets, which include a 40 per cent reduction in water intensity, a 15 per cent cut in energy intensity, and zero hazardous waste to landfill. Archroma also aims to slash Scope one greenhouse gas emissions by 20 per cent and Scope two emissions by 40 per cent during this period.
Martina Beitke, Group Sustainability Director, emphasized the importance of ongoing sustainability assessments since 2017, noting their role in enhancing industry standards. She praised the company’s commitment to innovation, partnership, and strong leadership in driving positive environmental and societal impacts.
A new report, ‘Voice of the Consumer Survey 2024’ by PwC India, reveals a seismic shift in the Indian consumer landscape. As digitalization accelerates, consumers are becoming increasingly discerning about where they spend their money and whom they trust with their personal data.
The survey, based on responses from 1,000 Indian consumers, underscores the growing importance of trust, sustainability, and personalized experiences in the retail sector. While online shopping is gaining traction, physical stores continue to hold a strong appeal, with 56 per cent of consumers frequently purchasing non-grocery items in-store. However, the in-store experience needs an upgrade. Retailers must leverage technology like augmented reality and mobile payments to create engaging and seamless shopping journeys.
Trust as the new currency
Data privacy emerges as a paramount concern. Almost 82 per cent of Indian consumers consider data protection crucial for building trust. This sentiment is particularly pronounced in the context of social media, the least trusted channel despite being a primary platform for product discovery. Brands must prioritize transparent data handling practices to gain consumer confidence.
Ravi Kapoor, Partner and Leader – Retail and Consumer sector, PwC India, emphasizes the importance of authenticity in building trust. "Brands need to stay authentic to earn consumer trust and ultimately build loyalty," he said.
The rise of conscious consumerism
Indian consumers are increasingly conscious of their impact on the environment. The survey revealed that 46 per cent consumers view climate change as a significant threat, driving a surge in demand for sustainable products. A remarkable 60 per cent are actively seeking out environmentally friendly options, with 75 per cent actively seeking information on food sustainability.
“Our survey reveals three main drivers of building trust; firstly, how well do brands make life easier for their consumers; secondly, how well they connect with their consumers and finally how do they ensure inclusiveness with their consumers,” said Kapoor.
The fashion and apparel sector, a major contributor to environmental concerns, is at a crossroads. Brands must integrate sustainability into their core business models, from sourcing to production and packaging. Offering transparent information about sustainability practices, such as independent sustainability scores, can significantly enhance brand reputation.
The survey highlights the influence of social media in the fashion industry. A whopping 77 per cent of consumers discover new brands through social media, emphasizing the importance of effective digital marketing strategies. However, trust remains a challenge, with 76 per cent of consumers expressing concerns about privacy on social media.
To thrive in this evolving landscape, businesses must adopt a holistic approach. This includes prioritizing data privacy, incorporating sustainability into core operations, delivering exceptional customer experiences, and leveraging technology responsibly. “Indian consumers’ optimistic sentiment shines through the survey with a whopping 75 per cent of consumers saying that they will increase spends in the clothing/footwear/grocery and health and beauty categories in the next six months,” noted Kapoor.
By understanding and responding to these consumer trends, businesses can build lasting relationships and drive growth in the dynamic Indian market.
With production rebounding, the United States is expected to reclaim its status as the top cotton exporter in 2024/25, as per the June 2024 World Agricultural Supply and Demand Estimates (WASDE) report by USDA.
In the 2023/24 season, Brazil surpassed the US to become the world's largest cotton exporter, with exports reaching 12.4 million bales. Brazil's cotton production during the 2023/24 season is estimated to have hit a record 14.6 million bales under favorable conditions, while US production declined due to drought in the Southwest.
For over a century, the United States has been the world's leading raw cotton exporter, a position it has rarely relinquished. The most recent exception was during the marketing year 1992/93 spanning August–July, when Uzbekistan took the lead. Historically, US-grown cotton primarily was supplied to domestic mills, but by the early 2000s, raw cotton exports became predominant.
The expansion of textile and apparel product exports from countries like China, following the phase-out of import quotas in developed countries, shifted the destination of US-grown cotton to foreign mills. This shift led to increased competition from other cotton-producing nations. Recently, Brazil has emerged as a significant competitor, driven by the expansion of cotton production in its Center-West region.
