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A major global chemicals producer, Indorama Ventures (IVL) is pursuing a partnership-driven growth strategy under its ‘IVL 2.0’plan, says Aloke Lohia, CEO.
Factors like China's manufacturing self-sufficiency, the impact of Peak Oil, and India's rapid economic growth are driving this change, Lohia adds. Despite ongoing market challenges, IVL managed to improve its operational efficiency in 2024 and aims to restore its historical growth trajectory this year.
While IVL registered an improvement in performance across all segments in 2024, it didn't fully meet its deleveraging and cash conversion targets. To address this, additional management actions are underway.
The company is transitioning from a mergers and acquisitions-focused model to one centered on strategic partnerships. This new approach aims to capitalize on growth and consolidation opportunities. IVL has already initiated several projects, including a 24.9 per cent minority stake acquisition in EPL, an Indian specialty packaging company. This move strengthens IVL's presence in the high-growth Indian market.
Furthermore, IVL plans to spin off its Indovinya downstream chemicals segment and its Indovida packaging unit. These units will operate independently, allowing them to maximize their growth potential.
With a history of over 30 years and 50 acquisitions, IVL has built a substantial global footprint. The company now aims to leverage its existing infrastructure and digital systems to drive further expansion.
Reiterating IVL's commitment to financial discipline and maintaining a strong balance sheet, Lohia explains, the company’s future growth will be achieved by building collaborative relationships with major industry players, leveraging its combined scale. This will help the company secure a dominant position in key markets through these mutually beneficial partnerships.
Women workers in two Indonesian garment factories have achieved a landmark victory with the signing of the Central Java Agreement for Gender Justice, a union-led initiative to eliminate gender-based violence and harassment (GBVH).
Negotiated by four unions SPN, SPSI, and KASBI with support from the Worker Rights Consortium (WRC), Asia Floor Wage Alliance (AFWA), and Global Labor Justice (GLJ), the agreement establishes a binding framework to prevent GBVH, modeled after similar agreements in India and Lesotho.
The factories, owned by Ontide and producing for US brands like Fanatics and Nike, employ 6,250 workers. Investigations by WRC in 2021 and 2022 revealed widespread abuse, leading to immediate remedial actions and the agreement's negotiation. The deal ensures enforcement through apparel buyers' commitments to ethical sourcing.
“This agreement is the result of years of struggle by women workers against harassment and oppression. It sets a precedent for the entire industry,” said Egye Gumilang of PSP SPN PT Batang Apparel Indonesia.
Ontide, alongside unions and global labor groups, is implementing measures to ensure a safe and dignified workplace. “A fair, violence-free workplace benefits everyone,” said Sekarsari Dewi, PUK-F.SPTSK-K.SPSI PT Batang Apparel.
“This agreement makes Ontide one of the safest places for women workers globally,” added Jessica Champagne of WRC. Labor leaders call on brands worldwide to adopt similar models, ensuring garment supply chains are free from abuse.
Passing of a proposed ‘zero-for-zero trade agreement could spike India's textiles and apparels (T&A) exports to the United States to $16 billion within three years, says a report by the Confederation of Indian Textile Industry (CITI).
According to this report, the agreement would eliminate tariffs, leveling the playing field for Indian exporters against competitors like Bangladesh and Vietnam, who currently enjoy preferential trade terms.
Representing 28.5 per cent of total exports between January and November 2024, the United States is India's largest market for T&A exports, as per Apparel Resources India. The country’s T&A exports to the US totaled $10.8 billion in FY24. On the other hand, India’s imports from the US totaled only $0.41 billion during the year.
Over the past five years, the US imports has decreased its exports from China significantly, while steadily increasing imports from India. However, the countries that have benefited the most from the changing US trade policies are Vietnam and Bangladesh, who have gained substantial market share.
A zero-duty regime, with safeguards for sensitive goods, would enhance India's competitiveness while maintaining balanced trade, argues CITI. They also advocate for a duty-free access mechanism with quota controls, given India's dependence on US cotton imports.
With a renewed push and a target of finalizing a deal by the end of 2025, the long-awaited Free Trade Agreement (FTA) between the European Union and India is generating a lot of excitement, particularly within the textile and apparel (T&A) sector. This landmark deal, touted as "the largest deal of this kind anywhere in the world" by European Commission President Ursula von der Leyen, promises to reshape trade dynamics and unlock substantial growth potential for both regions.
After years of stalled negotiations, primarily due to disagreements over agriculture, pharmaceuticals, and automobiles, the renewed momentum reflects a shared desire to counter rising global protectionism and strengthen strategic partnerships. As highlighted by von der Leyen during her recent visit to India, "We both stand to lose from a world of spheres of influence and isolationism. And we both stand to gain from a world of cooperation and working together."
A game-changer for textiles and apparel
The EU is already India's largest trading partner, with trade in goods reaching €124 billion in 2023. However, the T&A sector, while significant has room for considerable expansion. In fact, for India's textile and apparel industry, the FTA is a golden opportunity to boost its competitiveness in the lucrative European market. Currently, India faces tariffs on its T&A exports to the EU, hindering its ability to compete with countries enjoying preferential access. The elimination or significant reduction of these tariffs would provide a substantial boost to Indian exporters, leading to increased market share and revenue.
Conversely, the EU, a major source of high-quality textiles and technical fabrics, would gain easier access to India's vast and growing market. The potential for increased trade in both directions is immense, promising to create new jobs and stimulate economic growth in both regions.
Table: India's textile and apparel exports and imports to the EU (in € mn)
|
Year |
Apparel exports |
Textile exports (including fabrics) |
Total T&A exports |
|
2020 |
4,500 |
3,000 |
7,500 |
|
2021 |
5,200 |
3,500 |
8,700 |
|
2022 |
5,800 |
3,800 |
9,600 |
|
2023 |
6,200 |
4,000 |
10,200 |
|
Estimated Growth post FTA (2026 onwards) |
Significant increase expected, with projections of 15-25% annual growth in the initial years. |
||
|
Year |
Apparel imports (high end/specialty) |
Textile imports (technical/specialty) |
Total T&A imports |
|
2020 |
500 |
800 |
1,300 |
|
2021 |
550 |
850 |
1,400 |
|
2022 |
600 |
900 |
1,500 |
|
2023 |
650 |
950 |
1,600 |
|
Estimated Growth post FTA (2026 onwards) |
Increased access to high-end products and technical fabrics expected, with a projected 10-15% annual growth. |
Key considerations
While the FTA holds immense promise, several challenges need to be addressed. India seeks greater market access for its textiles and apparel, including lower tariffs and streamlined customs procedures. The EU, on the other hand, is likely to emphasize sustainability and labor standards, requiring Indian manufacturers to adhere to stringent environmental and social regulations. However, India's concerns regarding the EU's proposed Carbon Border Adjustment Mechanism (CBAM) will need to be addressed to ensure a level playing field for Indian exporters.
However, the FTA is expected to significantly boost India's competitiveness in many ways. Most importantly, elimination or reduction of tariffs will level the playing field, making Indian apparel exports more price-competitive. Easier access to the EU market will create new opportunities for Indian manufacturers. The FTA will incentivize investments in modernizing manufacturing facilities and improving efficiency. It can drive diversification of India's apparel export basket, moving towards higher-value products.
Competitive landscape and post FTA business scenario
India's business scenario post-FTA needs to be seen within the competitive landscape of China, Bangladesh, and Vietnam.
China: Dominates global apparel exports due to its vast manufacturing capacity, integrated supply chains, and economies of scale. However, rising labor costs and a shift towards higher-value manufacturing are impacting its competitiveness in low-cost apparel. The FTA will accelerate the shift in China's role, with India gaining a larger share of low-cost apparel exports. But China will continue to focus on higher-value manufacturing and technology-driven industries.
Bangladesh: Benefits from preferential trade agreements (like the EU's Everything But Arms initiative), providing duty-free access to major markets.
Known for its low labor costs and large-scale garment manufacturing now faces challenges due to worker safety, environmental sustainability, and diversification. With FTA, India's increased competitiveness could pose a significant challenge to Bangladesh, particularly in basic apparel categories. However, Bangladesh's established infrastructure and low labor costs will remain key advantages.
Vietnam: Has capitalized on FTAs and investments in modern manufacturing, becoming a strong competitor in apparel exports. Known for its efficient production and focus on quality also faces challenges due to rising labor costs and supply chain sustainability. Post-EUFTA India will become a stronger competitor to Vietnam in mid-range and high-value apparel segments. But Vietnam's focus on quality and efficiency will continue to be its strengths.
India: Possesses a large domestic market, abundant raw materials (cotton, etc.), and a skilled workforce. However, it faces challenges due to fragmented supply chains, infrastructure bottlenecks, and higher tariffs compared to its competitors. Also, it does not have too many FTA's that competitors posses and that is a drawback for T&A sector.
Thus the successful conclusion of the EU-India FTA by 2025 would mark a watershed moment for the T&A industry. By fostering closer collaboration and eliminating trade barriers, the agreement has the potential to create a win-win situation for both, driving economic growth and strengthening strategic partnerships.
Archroma, a global leader in specialty chemicals, has expanded its sustainable dyeing solutions with the launch of Avitera Raspberry SE. This new trichromatic red, part of the Avitera SE Generation Next platform, enables mills to achieve deep, rich, and extra-dark shades while maintaining cost-efficiency and high sustainability standards.
“Avitera SE revolutionized cellulosic dyeing 15 years ago. With Avitera Raspberry SE, we continue our commitment to high-performance, eco-friendly solutions,” said Dhirendra Gautam, VP Marketing at Archroma. The dye enhances color fastness, ensuring long-lasting vibrancy even after repeated washes and exposure to chlorine and oxidative bleach.
Dyeing darker shades like black, navy, and red traditionally requires more resources and faces challenges such as fading. However, Avitera SE Generation Next dyes offer high-speed, low-temperature wash-off, cutting water and energy usage by up to 50 per cent while reducing carbon dioxide emissions and effluent discharge. Mills can also boost output by 25 per cent or more.
Part of Archroma’s Planet Conscious+ initiative, Avitera Raspberry SE qualifies for the Impact+ category, delivering superior durability with minimal environmental impact. It complements other deep shades in the Avitera SE range, including Black Pearl SE, Blue Horizon SE, and Night Storm SE.
Since its 2010 debut, Avitera SE has set new benchmarks for sustainable dyeing. The latest innovations extend these benefits to dark and extra-dark shades, reinforcing Archroma’s commitment to resource efficiency and cost-effective textile solutions.
American Eagle Outfitters Inc (AEO) reported increased profits for Q4, FY25 but acknowledged a cautious outlook for the new fiscal year due to slower consumer demand.
The company's net income for the quarter rose significantly to $104.3 million, compared to $6.3 million in the previous year, which was impacted by substantial impairment and restructuring charges. The earnings per share exceeded analysts' expectations by 3 cents.
However, revenue for the quarter decreased by 4.4 per cent to $1.6 billion from $1.7 billion in the previous year, primarily due to an extra week in the prior year's reporting period. When adjusted for this extra week, comparable sales actually increased by 3 per cent, following an 8 per cent increase the year before. This included a 6 per cent comparable sales increase in the Aerie division and a 1 per cent increase in the American Eagle business.
For full FY25, AEO's revenue increased by 1.3 per cent to $5.33 billion.
Highlighting the progress made on their “Powering Profitable Growth” strategic plan, Jay Schottenstein, Executive Chairman and CEO, emphasizes on the team's strong operating profit growth, positive momentum across brands and channels, disciplined expense management, and operational efficiencies.
Looking ahead to 2025, the company anticipates a low-single digit decline in revenue. A week demand and colder weather could lead to a slower-than-expected start to the first quarter, notes Schottenstein, While expecting improvement as the spring season progresses, AEO is also taking proactive measures to strengthen revenue, manage inventory, and reduce expenses. The company remains focused on its long-term strategic priorities while navigating an uncertain consumer and operating environment.
The Advanced Recycling Conference (ARC) 2025 is set to lead the way in recycling innovation on November 19-20 in Cologne, Germany, and online. Known for its cutting-edge insights, ARC 2025 will bring together industry leaders, researchers, investors, and policymakers to address evolving market demands and ambitious EU sustainability targets.
Participants are invited to submit abstracts by July 31, 2025, to present their latest advancements to a global audience. The conference will cover diverse recycling technologies, including extrusion, dissolution, solvolysis, enzymolysis, and pyrolysis, alongside pre- and post-treatment solutions such as sorting, AI, blockchain applications, and life cycle assessments.
ARC 2025 will emphasize collaboration, providing a key platform for networking among technology providers, waste management firms, brands, and policymakers. Key discussions will explore optimal technology selection, environmental impact assessment, and emerging innovations. A dedicated policy session will highlight investment-friendly frameworks for advancing recycling technologies.
Sponsored by BUSS ChemTech and Starlinger Recycling Technology, ARC 2025 offers extensive sponsorship and exhibition opportunities. Companies can showcase their innovations and engage with international stakeholders through exhibition booths and tailored sponsorship options.
With a focus on fostering a circular economy, ARC 2025 remains the premier event for those driving the future of advanced recycling.
Fashion Group International (FGI) will host the 29th annual FGI Rising Star Awards on April 16, 2025, in New York City (venue to be announced). Emmy and Grammy-winning actress, producer, and bestselling author Tiffany Haddish will host the prestigious fashion event, joined by presenters Fern Mallis, Gary Wassner, Ken Downing, Reem Acra, Jonathan Cohen, and others.
The Rising Star Awards celebrate emerging talent in fashion, beauty, and related industries, while also honoring established leaders. This year, Robert Chavez, former Executive Chairman of Hermes Americas (Retired), will receive the Lifetime Achievement Award. “The Rising Star Awards provide a premier platform for the next generation of industry leaders,” said Alyce Panico, FGI Board Chairperson and CEO of Luxe Collective Group. “FGI remains dedicated to supporting and empowering emerging talent.”
Maryanne Grisz, FGI President & CEO, emphasized the significance of the awards in recognizing innovative designers and founders. “These honorees represent the future of fashion, and we are honored to celebrate their creativity,” she said.
A key fundraising event for FGI, the Rising Star Awards underscores the organization’s commitment to fostering industry professionals with resources, education, and networking opportunities. Applications opened in September 2024 for businesses operating between two and six years, with finalists selected by an FGI member vote and a juried panel.
The event has served as a career incubator for leading designers such as Tory Burch, Jason Wu, Brandon Maxwell, and Phillip Lim. Returning sponsor Macy’s will present the Future Fashion Award in Fashion Merchandising, while Hilldun Corporation’s Gary Wassner will award Carly Bigi, founder of Laws of Motion, with the Hilldun Business Innovation Award.
For the first time, the annual pre-event will feature an informal fireside chat hosted by APL in its SoHo flagship store. Moderated by Panico, the discussion will include NJ Falk, Robert Chavez, Gary Wassner, and other industry leaders, focusing on mentorship and fostering the next generation of talent.
The Show Miami, the city’s first-ever social fashion fair, is set to launch, bringing top brands, industry leaders, and fashion enthusiasts together for an immersive experience. Taking place at the Miami Beach Convention Center from March 17 to 19, the event aims to redefine fashion by merging commerce, creativity, entertainment, and community.
More than just a trade show, The Show Miami is a movement to position the city as a global fashion hub. Attendees will experience cutting-edge fashion presentations, interactive installations, insightful panel discussions, live music, and networking opportunities. “Our vision is to redefine how fashion is experienced, merging industry and culture in a way that’s never been done before in Miami,” said Ivan Herjavec, co-founder of The Show Miami.
The event will feature collections from leading brands such as Lacoste, Levi’s, Psycho Bunny, Sprayground, Perry Ellis, Original Penguin, True Religion, Cult of Individuality, Ed Hardy, and many more. Live art installations, including a graffiti artist in action, will add a creative edge. A state-of-the-art padel court will offer both professionals and attendees a chance to engage in the trending sport. DJ sessions by Palo Santo will provide daily entertainment.
Panel discussions will explore topics like AI in fashion, Miami’s fashion founders, and music’s influence on streetwear. The event also embraces a community-driven approach, with a fundraiser for Miami Dade College students reinforcing its mission of using fashion as a force for unity and support. Visitors can contribute by attending the event and purchasing exclusive products.
The Renewable Carbon Initiative (RCI) has released a detailed study analyzing Life Cycle Assessment (LCA) and carbon footprint standards concerning renewable carbon sources, including biomass, carbon capture, and recycling. Conducted by Nova-Institute, the study compares major sustainability frameworks, highlighting areas of consensus and divergence.
LCA is the key methodology for assessing environmental impacts, but its complexity and varying approaches challenge fair assessments, particularly for renewable carbon-based materials competing with fossil-based alternatives. The study evaluates key LCA frameworks, including ISO 14040/44, ISO 14067, the GHG Protocol, PACT’s Pathfinder Framework, and others relevant to industry and policy.
The findings indicate general agreement on biogenic carbon accounting, with most frameworks following the -1/+1 approach, except for PEF and RED III, which use a net-zero method. However, substantial differences exist in handling processes with multiple outputs and whether co-products can be credited through system expansion. Recycling methodologies also show significant variability.
The study comprises three reports: a 146-page assessment of LCA methodologies, a 36-page focus on recycling, and a 15-page non-technical summary for policymakers. RCI calls for clearer guidelines on critical aspects such as mass balance attribution and carbon capture utilization (CCU) to ensure consistency in sustainability assessments.
As industries shift toward circular carbon solutions, the study underscores the need for standardized LCA methodologies to create a level playing field for renewable carbon products. Policymakers and stakeholders must address methodological flexibility to enhance transparency and comparability in carbon footprint evaluations.
