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H&M has announced its latest designer collaboration with Indian designer Anamika Khanna, marking 20 years since its first such collaboration with Karl Lagerfeld in 2004.
This partnership, H&M’s second with an Indian designer following Sabyasachi Mukherjee, will launch on September 5 in select countries including India, the UK, South Africa, Malaysia, Singapore, and Vietnam.
AnamikaKhanna, known for her highglamour wedding wear, is reimagining traditional Indian garments like kurtapajamas and caftans with a focus on comfort and versatility.
The collection features womenswear, menswear, and accessories, emphasizing prints, embroidery, and easy silhouettes.
The collaboration aims to bring Indian design to global markets and reflects the growing influence of Indian fashion worldwide.
To be organised by the Southern Gujarat Chamber of Commerce and Industry (SGCCI) in Surat, Yarn Expo 2024 will for the first time showcase specialty yarns used in silk replacement fabrics, sportswear, technical textiles and medical textiles. The expo will be held from Aug 09-11, 2024, at the Surat International Exhibition and Convention Centre (SIECC) in Sarsana.
Approximately 92 exhibitors from across India will participate in the expo that will also attract over 1,000 buyers from various cities nationwide. A special pavilion dedicated to the sources of raw materials for yarn production will be featured for the first time.
Vijay Mewawala, President, SGCCI, states, the primary goal of this edition of Yarn Expo is to advance the textile industry in Surat by providing industrialists with knowledge about the latest yarn production technologies. Spanning approximately 116,000 sqft, the expo will attract exhibitors from Surat, Ahmedabad, Vadodara, Navsari, Mumbai, Erode, Coimbatore, Tamil Nadu (Namkhal and Karur), Jaipur, Bangalore, Panipat (Haryana), Chennai, and Karnataka.
This year, the Yarn Expo will highlight a variety of yarns, including Silver Jari and Gold Jari, Tensil Yarn, Katan, N Silk, Lyocell, Zinc Linen, Carbon Fiber, Moisture Management, Bio-Degradable, Hemp Yarn, and Antimicrobial Yarn. N silk and lyocell yarns are notable for replacing silk in textiles, while carbon fiber and biodegradable yarns are used in technical textiles. Antimicrobial yarns are essential for medical textiles. These yarns are also used in sportswear, technical textiles, and export-oriented fabrics.
As announced by Nikhil Madrasi, Vice President, SGCCI, RohitKansal (IAS), Additional Secretary, Ministry of Textiles, will be the chief guest at the inaugural function on Aug 9, 2024. Other dignitaries to attend the event include PrajaktaVerma (IAS). Joint Secretary, Textile Ministry; Anil Kumar (IRS), Director; SP Verma, Additional Textile Commissioner and J. Raghunath, Senior Vice President, Reliance Industries.
eVent Fabrics, a leader in high-performance waterproof and breathable technologies, has partnered with Formidable Media, a public relations agency with extensive experience in the textile and apparel industries. This collaboration aims to enhance eVent's strategic communications and boost global brand visibility.
Chad Kelly, President of eVent Fabrics, expressed enthusiasm about the partnership, highlighting that eVent has been a leader in breathable waterproof technology for the past 25 years. He emphasized that recent advances in performance and sustainability have positioned the company to embrace its next phase of growth in the market.
Formidable Media will support eVent’s public relations efforts to increase brand recognition and market share. The company offers a range of technologies, including waterproof, windproof, and professional options, tailored for demanding apparel, footwear, and accessories. Their new sustainable solutions, alpineST and eVent BIO, exemplify their commitment to eco-friendly practices.
Scott Kaier, Founder and President of Formidable Media, remarked that eVent is an ideal partner due to its high-performing waterproof and breathable laminates, as well as its range of PFAS-free offerings. He believes these strengths position the brand for significant growth.
eVent Fabrics joins Formidable Media’s roster of esteemed clients, including Allied Feather + Down and Active Apparel Group.
The Lenzing Group, a top supplier of regenerated cellulose fibers, saw a gradual business improvement in the first half of 2024. Revenue grew by 4.8 per cent to €1.31 billion, driven by a 9.3 per cent increase in fiber revenue.
Despite higher raw material and energy costs, EBITDA rose 20.4 per cent to €164.4 million, with an EBITDA margin up from 10.9 per cent to 12.5 per cent. The operating result (EBIT) improved to €18.9 million from a previous loss, while earnings per share narrowed to minus €1.84.
CEO Stephan Sielaff highlighted ongoing efforts to reduce costs and boost global sales, aiming for enhanced profitability and resilience. CFO Nico Reiner noted the positive impact of performance initiatives on EBITDA and free cash flow, anticipating over €100 million in benefits this financial year. Capital expenditure decreased, and cash reserves grew to €825.9 million.
Significant changes included suspending the €4.50 per share dividend policy and Suzano SA acquiring a 15 per cent stake from B&C Group. Leadership updates featured the appointment of Walter Bickel as Chief Transformation Officer and Rohit Aggarwal as the future CEO.
Looking ahead, Lenzing anticipates stable growth in environmentally responsible fibers despite global economic uncertainties. The company's performance program is ahead of schedule, promising continued earnings improvement and a stronger market position in sustainability.
Karl Mayer North America will exhibit at CAMX 2024 in San Diego from September 9-12, showcasing their expertise in non-crimp fabric production.
Located at booth EE54, the company will present high-performance machines such as the Cop Max 4, a versatile producer of multilayer, multiaxial fabric structures, and the Cop Max 5, designed for processing carbon fibers.
The UD 700 fiber spreading system and the newly launched Max Glass Eco, ideal for manufacturing glass fiber goods, will also be featured.
Karl Mayer will highlight sustainable composite reinforcements using natural fibers. In collaboration with the winter sports industry, they have developed non-crimp fabrics from hemp and flax fibers for snowboards and skis, gaining positive feedback at Techtextil and JEC World.
Lutz Heinig, Sales Manager at Technical Textiles, highlighted the industry's need to reduce its ecological footprint. He noted that Karl Mayer's non-crimp fabrics made from natural fibers can make a significant impact. Heinig looks forward to engaging with the American trade audience and introducing Karl Mayer’s innovative technologies to new companies in the sector.
Citing expected currency headwinds, higher freight costs and continued muted consumer sentiment, German sportswear brand Puma has narrowed its outlook for full-year core profit even as the brand reported its second-quarter results.
Having recently launched new marketing initiatives to better compete with larger rivals like Adidas and Nike, Puma has been grappling with weaker consumer demand and excess stock at the sportswear retailers through which it makes most of its sales.
The company now expects operating profit (EBIT) to range between €620 million-€670 million ($676-$731 million), compared to its previous forecast of €620 million to €700 million.
The company expects net income to change in 2024 in line with the operating result. It reported a net income of €304.9 million in 2023.
In the second quarter, the company’s currency-adjusted sales rose by 2.1 per cent to €2.12 billion, aligning closely with the €2.15 billion expected by analysts, according to LSEG data. This growth was driven by a 9 per cent increase in the Americas region.
However, in the Europe/Middle East and Africa region, currency-adjusted sales dropped by 4.3 per cent to €817.9 million. While Europe returned to growth, this was offset by declines in Eastern Europe, the Middle East, and Africa, following a strong quarter in the previous year.
In the Asia/Pacific region, the company’s sales grew by 1.9 per cent, boosted by growth in Greater China. Its quarterly EBIT increased by 1.6 per cent to €117 million despite negative currency effects.
SudhirSekhri, Chairman of AEPC, highlighted growing concerns among buyers over the escalating civil unrest in Bangladesh. He noted that fast fashion buyers are pulling their orders from Bangladesh due to the instability.
These orders, primarily involving man-made fabrics sourced from China, Korea, and Europe, are challenging to shift to India because of India's restrictive import policies. Only orders using Indian-origin fabrics might be moved to Indian factories.
Sekhri emphasized that long-term buyer confidence in Bangladesh was already waning due to capacity saturation, a trend accelerated by the current unrest. Buyers are now expediting their search for alternative manufacturing hubs. For India to benefit, local factories need to increase their capacities.
However, buyers remain cautious about relocating their orders to India unless the Indian government revises its import policies to allow easier access to imported man-made fabrics, trims, and accessories.
In summary, while the turmoil in Bangladesh creates opportunities for Indian manufacturers, significant policy changes are essential for India to become a viable alternative for fast fashion buyers.
Backlash against the clothing retailer Forever 21 has intensified in recent weeks following social media posts from frustrated shoppers claiming the brand was reducing its plus-size offerings in U.S. stores. Additional videos highlighted that Forever 21 recently shut down its Instagram account dedicated to plus-size clothing customers.
However, Forever 21 asserts that it does not intend to pull back from the plus-size clothing market. Instead, it aims to consolidate all of its social media accounts into a single Forever 21 account.
The brand emphasised its commitment to increasing its plus-size offerings. Like many stores that once dominated shopping malls, Forever 21 has faced significant challenges in recent years. The chain filed for bankruptcy in 2019 and was subsequently bought out of bankruptcy in 2020.
The group that saved the brand consisted of Authentic Brands Group and two real estate companies, which NPR reported as being ‘America's largest mall operators.’ The new owners have since partnered with online fashion retailer Shein in hopes of revitalizing and expanding Forever 21.
In May 2024, Karl Mayer launched its Energy Efficiency Solution (EES) for warp knitting machines, aiming to enhance sustainability and reduce costs. By July, customers had shared positive initial feedback. To ensure ease of use, Karl Mayer translated the manual into six languages and created a tutorial on their Academy online platform.
The EES provides detailed guidance on setup, display options, and analyzing energy consumption and carbon dioxide emissions. Recent updates include a timer function and full integration into the Customer Portal for streamlined access alongside other tools like the Dashboard and CoreLite.
Karl Mayer collaborated with Rokona, a German warp knitting specialist, on this project. Rokona's commitment to sustainability, reinforced by their ISO 14001 certification, made them an ideal partner. Stefan Passauer, Production Manager at Rokona, highlighted the importance of verifiable environmental contributions and praised the EES for meeting customer demands for documented carbon dioxide reduction data.
Rokona was involved from the beginning, providing input and testing the system on several machines. Passauer noted that the EES operates reliably, offering valuable insights into energy consumption and cost comparisons. He appreciated the new standby mode feature, which automates energy-saving during production breaks, a significant improvement over the previous manual process.
Future enhancements suggested by Rokona include optimizing display features and linking article data with operating data for better integration.
New Delhi faces a complex challenge as it prepares to renegotiate its free trade agreement (FTA) with the Association of Southeast Asian Nations (ASEAN). While the bloc offers immense economic potential, concerns over cheap imports, particularly from China, are putting pressure on the Indian government.
Cheap imports a worry
The Asean-India Trade in Goods Agreement, signed in 2009, has seen bilateral trade soar to $122.67 billion last financial year. While the pact aimed for deeper economic integration, concerns have emerged about a trade imbalance favoring Asean and the potential for China to exploit the agreement as a backdoor for duty-free exports to India. The textile, apparel, and fashion sector has been particularly vocal about the challenges posed by cheap imports. Domestic manufacturers argue that the FTA has eroded their competitiveness, leading to job losses and factory closures.
Economists and industry experts are divided on the best course of action. While some advocate for increasing import duties to protect domestic industries, others warn against such measures, fearing potential retaliation from ASEAN countries and damage to India's image as a trade-friendly nation. "The FTA has provided a back door for China to route duty-free supplies into the Indian market, eroding the competitiveness of local companies," warns Biswajit Dhar, a professor at the Council for Social Development.
Balancing act
The Indian government finds itself in a quandary. On one hand, there's a compelling case for protecting domestic industries. On the other, raising import duties could sour relations with Asean, a crucial geopolitical partner. Experts suggest a nuanced approach. Strategic tariff adjustments within the FTA framework, such as increasing duties on specific items like mobile phone and automobile parts, could be considered. This flexibility, enshrined in the agreement, allows for annual reviews of "highly sensitive lists" and "exclusion lists." However, any such move could invite retaliation from Asean countries. Moreover, it could reinforce India's image as a protectionist nation, deterring foreign investment.
Need to tread carefully
While the overall trade figures are available, granular data on the textile, apparel, and fashion sector's performance under the FTA is limited. This hampers policymakers' ability to make informed decisions. Therefore, India must tread carefully. A comprehensive assessment of the FTA's impact on various sectors, including a detailed analysis of the textile, apparel, and fashion industry, is essential. Engaging in constructive dialogue with Asean partners to address specific concerns can help build trust and find mutually beneficial solutions.
Ultimately, India's success in balancing its economic interests with strategic priorities will determine the outcome of the FTA review. A well-calibrated approach that protects domestic industries without alienating Asean is crucial for India's economic growth and geopolitical standing.
