FW
Holding a 7.4 per cent market share, Bangladesh has maintained its position as the world’s second-largest garment exporter, as per a report by the World Trade Organisation (WTO).
Titled, ‘World Trade Statistics 2023,’ the report, released on July 31, estimates, Bangladesh exported garmentsworth $38 billion in 2023.
The leading global garment exporter, China shipped $165 billion worth of apparel, which equates to a 31.6 per cent global market share. Vietnam ranks third with $31 billion in garment exports, capturing a 6 per cent market share. Turkey follows in fourth place with $19 billion in exports and a 3.6 per cent market share. Holding the fifth position, India exported $15 billion in garments, representing a 3 per cent market share.
Indonesia, with a 1.6 percent global market share, exported $8 billion worth of garments in 2023.
The global supply chain faced significant challenges last year due to several factors, including the lingering effects of COVID-19, the Russia-Ukraine war, inflationary pressures on Western consumers, labor unrest demanding wage increases for garment workers, the Red Sea crisis, and rising freight charges.
To celebrate the 10th National Handloom Day, the Textile Ministry is hosting a two-week exhibition called ‘Viraasat from Aug ’06, 2024 at Handloom Haat in Janpath, New Delhi. The event is being organised by the National Handloom Development Corporation (NHDC), a branch of the Ministry.
The exhibition showcases a wide range of handloom products sourced from various unique regions across India, available for both display and purchase. The expo houses 75 stalls featuring handloom weavers and artisans directly selling their products.The products being offered include Banarasi, Jamdani, Baluchari, Madhubani, Kosa, Ikkat, Patola, Tussar Silk, Maheshwari, MoirangPhee, Phulkari, Laheriya, Khandua, and Tangaliya. These exclusive weaves, designs, and traditional motifs continue to attract customers worldwide.
Additional attractions at the exhibition include a curated theme display of exquisite Indian handlooms, workshops on topics like natural dyes, Kasturi cotton, design, and exports, live loom demonstrations, traditional folk dances, and regional cuisine.
The Indian government has launched various initiatives to promote the handloom sector, emphasising the production of high-quality, eco-friendly products. The ministry is encouraging exhibitors at the ‘Virasat’ exhibition to showcase their unique items, aiming to enhance the market for handloom products and boost the income of the handloom community.
Equipped with Longi’s high efficiency HI-MO 5 solar modules, the solar power plant installed by Virdis Engineering in Coimbatore, Tamil Naduprovides significant cost savings for the manufacturer by generating substantial clean energy.
The plant was installed in two phases: the first 1 MW phase was commissioned in May 2023, followed by a 750 kW phase in February 2024. The plant has a remarkable daily generation capacity of 6 units, resulting in an annual electricity bill saving of Rs 1.9 crore.
This integration of solar technology marks a significant technological advancement in the textile industry, reflecting a strong commitment to environmental sustainability. Driven by the mission to make the best of solar energy to build a green world, Longi aims to lead energy-intensive and high-pollution industries, such as textile manufacturing, toward a more sustainable and eco-friendly future. Metakeys: Virdis Engineering, Longi
The global wool yarn market is set to expand at a CAGR of 3.4 per cent from 2024-34 to reach a value of $8.05 billion by 2034.
As per a report by FactMR, East Asia is forecasted to dominate the market, holding a 38.4 per cent share by 2034, with Japan accounting for 28.8 per cent of this share. The South Korea market is expected to grow at a CAGR of 5.6 per cent during this forecast period. China is also projected to be a major player in the East Asian wool yarn market, commanding 57.3 per cent of the regional share by 2034.
Wool's excellent thermal insulation properties drive increased sales of woolen clothing during winter. Additionally, wool's natural and antimicrobial qualities make it a preferred choice for individuals in fast-paced environments where the skin may be prone to microbial infections. The durability, resilience, and resistance to compression of wool yarn make it a popular choice among consumers seeking sturdy and long-lasting garments.
The expansion of the wool yarn market is also fueled by rising demand for high-quality wool, growth in the women's wear segment, and the emergence of consumer markets in developing countries. In particular, the upholstery segment is expected to grow steadily at a CAGR of 3.8 per cent from 2024-34, reflecting the increasing demand for wool yarn in various textile applications. This growth underscores the continued importance of wool yarn in the global textile industry, driven by its versatility and durability.
In the moderately fragmented wool yarn industry, major players hold a significant portion of global revenue. Emerging players occupy the remaining market share. With growing demand for worsted wool yarn, key market players are investing heavily in this segment through partnerships and acquisitions, especially in Europe and East Asia. For instance, in October 2018, Indorama Ventures (IVL) acquired the worsted wool yarn business of Schoeller Group through its subsidiary, Glanzstoff Management GmbH. Metakeys: FactMR
Turkish denim mill Calik Denim plans to expand its Royal Denim fabric collection by introducing double-sided fabrics and exploring unconventional denim categories like leggings.
Designed for high-end and formal wear, the Royal Denim collection features a blend of organic cotton with luxurious materials like cashmere, silk, hemp, and linen, resulting in fabrics with distinct textures and character.
As per Mehmet SerdarOzcan, Sales Director, Calik Denim, offering excellent color fastness and minimal shrinkage, the collection helps retain the durability and appearance of these premium pieces.
Last month, Calik showcased these fabrics at Premiere Vision in Paris, presenting a range of fashion-forward garments. Prominent brands like Prada, Marc Jacobs, Guess, and Karl Lagerfeld have already expressed interest in the Royal Denim collection, adds Ozcan
Calik Denim has already developed indigo products for Lululemon that offer the fit and functionality of leggings but the appearance of denim. The company is committed to quality through its Farm to Store concept, which leverages Turkish cotton grown by its sister company, Calik Cotton. This allows Calik to maintain complete control over its supply chain, ensuring higher quality standards for its clients.
Calik Cotton began cultivating cotton in 2016 and started ginning it by 2018. The cotton is used in fabrics sourced by brands like PVH and Bestseller-owned Jack & Jones, which utiliseCalik’s organic cotton fabrics. As one of Turkey's largest cotton producers, Calik Cotton produces more cotton than the mill currently consumes and the program is set to become available to more clients.
The Cotton Corporation of India (CCI) has procured 33 lakh bales of cotton at the Minimum Support Price (MSP) from farmers during the ongoing cotton season, which is set to conclude next month.
Lalit Kumar Gupta, Chairman and Managing Director, CCI notes, the corporation conducts two e-auctions daily: one specifically for textile mills and another open to all buyers.
Despite these efforts, the offtake by mills has been sluggish, largely due to an accumulation of yarn stocks and a slowdown in demand. For almost 25 days, CCI sold only 25,000-30,000 bales daily. However, sales increased recently with the corporation selling 20,000 bales. Currently, CCI holds a stockpile of nearly 20 lakh bales.
Looking ahead, CCI needs to prepare for the next cotton season that begins October asMSP operations are expected to expand during this period, emphasises Gupta.
Toincentivise textile mills to purchase more cotton, CCI has introduced a new measure allowing mills to take delivery within 60 days from Aug 01, 2024. Additionally, the corporation has appealed to mills to secure their stock requirements for the current cotton season, aiming to boost sales and manage inventory levels more effectively.
The slowdown in the Italian textile and apparel sector, witnessed in H1 2024 has intensifiedin H2 2024 with the purchasing power of consumersdeclining and geopolitical tensions rising.
As per a report by the employer’s federation for the Italian fashion industry, SistemaModa Italia (SIMI),only 17 per cent of the entrepreneurs reported revenue increases in the first six months of the year. The average sales of these entrepreneurs also decreasedby 5.8 per cent compared to the same period in 2023.
Most industry players do not expect revenues to improve in the second half of the year. Around 48 per cent respondents say, they anticipate market conditions to stabilise in H2, FY24 while 33 per cent anticipate market conditions will deteriorate in the second half of the year.
Conducted in early July among small and medium-sized enterprises (SMEs) across various regions, the surveyshows, only 19 per cent of companies expect sales to increase for the rest of the year. Meanwhile, 61 per cent anticipate a slowdown, and 20 per cent expect stable sales. As per SMI’s prediction, revenues from the textile and apparel sector areexpected to decline by 6.2 per cent during the first nine months of FY24.
Around 64 per cent of entrepreneurs predict, they will end 2024 below 2023 levels, while only 11 per cent hope sales will improve during the rest of the year. A majority, 70 per cent, do not expect recovery until early 2025.
Employment levels in the sector remain relatively stable, according to 54 per cent of entrepreneurs. However, 20 per centreport staff reductions, and 26 per cent have used social safety nets in the second quarter. This trend is expected to intensify, with 33 per cent of companies planning to use social safety nets in the third quarter.
Sergio Tamborini, President, SMIemphasises, the sectors needs to introduce targeted measures to invigorate the production chain and strengthen strategic relationships with Europe and key markets. An urgent strategic plan to preserve Italy's creative, human, and industrial capital needs to be formulated, he adds.
In celebration of National Relaxation Day on August 15, Tommy Bahama has teamed up with Ray’s Hometown Bar on the Lower East Side for a special capsule collection. Known for its motto "Make Life One Long Weekend," Tommy Bahama has designed three signature silk camp shirts and three baseball hats for the occasion.
The collaboration will include two kickoff events and ten happy hours at Ray’s, offering attendees cocktails made with Tommy Bahama spirits. Carlos Quirarte, cofounder of Authentic Hospitality, highlighted that Ray’s has always been a welcoming spot for the community to relax, making the partnership with Tommy Bahama, known for its relaxation-inspired clothing, a perfect fit.
Ray’s designer, Jack Berry, explained that the inspiration came from Tommy Bahama’s patterns, which evoke casual hangouts and the art of a good cocktail. They chose three iconic silk camp shirt styles and added a subtle Ray’s touch. The hats, designed in teal and coral, reference Miami architecture, a central element of the Tommy Bahama brand.
Challenges including high production costs, elevated interest rates, inadequate gas supply, and soaring electricity tariffs, have led to thePakistan’s textile exports stagnating at 1.6 per cent of global exports, amounting to a mere $16 billion. As per a report by APTMA, the country lags significantly behind the $40 billion worth of textile exports from Bangladeshdespite a $5 billion investment in modern machines as energy shortages continue to hinder growth.
ZahidMazhar, Chairman, APTMA—Southern Zone, notes, Pakistan’s textile exports declined from $19.33 billion in 2021-22 to $16.50 billion in 2022-23. To reach the ambitious target of $60 billion in exports by 2027, the country needs to increase its textile exports to $33 billion byintroducing supportive policies, he adds.
A few of the key challenges being faced by the textile industry in Pakistan include high energy costs, especially capacity payments to Independent Power Producers (IPPs), which inflate electricity tariffs. The government pays Rs. 35 per unit for electricity but charges Rs. 60 per unit.
There is a call to cancel unnecessary IPP contracts and conduct a forensic audit, as capacity payments have surged from Rs. 200 billion in 2015 to Rs. 2 trillion in 2024.
The textile industry also struggles with high gas and RLNG costs, leading to the closure of 30 per cent of mills. The government's plan to cut off gas supply to captive power plants by January 2025 is impractical, given the current electricity network's limitations.
Additionally, high interest rates of 19.50 per cent are stifling industrial activity, and the recent Federal Budget 2024-25 has imposed anti-industry measures, including increased taxes and withdrawal of zero-rating sales tax on local inputs for export manufacturing. These policies threaten to deindustrialise the economy and hinder export growth, particularly in the textile sector, which is vital for Pakistan's economic stability.
Being held at Yashobhoomi, Dwarka from Aug 01-03, the 11th edition of GartexTexprocess highlights the potential for foreign direct investments (FDIs) and joint ventures in the sector. Organised by MEX Exhibitions and Messe Frankfurt Trade Fairs India, the event spanning three days, showcases the latest industry trends and innovations.
Over 180 exhibitors, representing more than 600 brands from India, China, Italy, Japan, Singapore, Taiwan, and the USA, are participating in the event. They are presenting their latest advancements in textiles and garment manufacturing, including denims, machinery, sewing machines, fabrics, trims, and accessories.
The inauguration was graced by several notable figures from the textile industry, including Giriraj Singh, Elgar Straub, Managing Director, VDMA Textile Care, Fabric & Leather Technologies;SharadJaipuria, President, Denim Manufacturers Association and Chairman, Ginni International; Simon Lee, Managing Director, Hyosung Group);AamirAkhtar, Group President and CEO-Textiles, Jindal Worldwide; Mithileswar Thakur, Secretary General, Apparel Export Promotion Council;HimaniGulati, Director, MEX Exhibitions, and Raj Manek, Managing Director, Messe Frankfurt Trade Fairs India.
Appreciating the event for its comprehensive knowledge sessions, product displays, and B2B networking opportunities, Singh emphasisedon the importance of joint ventures and FDIs, as well as the collaborative efforts between suppliers, manufacturers, and brands in driving the textile sector forward. He highlighted the sector's significant employment potential, second only to agriculture, and stressed the importance of sustainable fabrics like handlooms.
The event showcases innovative product launches and the latest trends in the industry. Expressing his delight at the positive response, Manek notes, the Indian government's focus on manufacturing is worth appreciating. Highlighting the strong turnout and international participation, Juneja underscores the event's role in shaping the future of textile and garment manufacturing.
Dedicated to denims, the second day included sessions covering topics such as denim manufacturing, sustainable solutions, laundry automation, and the use of AI in trend identification and lifecycle assessment. These discussions offered valuable insights for industry professionals, enhancing their knowledge and practices.
