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Arvind, one of India’s largest integrated textile manufacture has, posted a 14 per cent increase in its net profit to Rs 110 crores in the quarter ending March 2016 as against Rs 97 crores in the same quarter a year ago. The brand’s business continued to remain strong with 30 per cent CAGR in Q4.
Arvind ended the fiscal 2015-16 with revenues of Rs 8,431.45 crores up 7.89 per cent and net profits of Rs 362.70 crores, up 6.33 per cent. Operating profits of the company were up 13.13 per cent at Rs 230.28 crore for the quarter ending March 2016 against Rs 203.55 crore the previous year. The operating profit margins for the quarter were recorded at 9.97 per cent, down 0.05 per cent against 9.97 per cent a year ago. Operating profits for the year were at Rs 809.20 crores, up 1.08 per cent. Consolidated earnings before interest, taxes, depreciation, and amortisation (EBITDA) is up by 14 per cent at Rs 297 crores, compared to Rs 260 crores in the corresponding quarter of the previous year.
The company will soon be launching NNNow.com, a shopping platform for Indian customers which will link the offline and online retail shopping experience.
Lenzing is a leading manufacturer of man-made cellulosic fibers has seen substantial increase in earnings in the first quarter of 2016, achieving the best first quarter results since the financial year 2012. Net profit for the period increased almost threefold. Lenzing also achieved close to a three-fold improvement in its cash flow position.
Consolidated revenue rose by 8.1 per cent in the first quarter of 2016 compared to the first quarter of 2015. This increase is mainly attributable to the strong demand for Lenzing fibers and higher fiber selling prices. Consolidated earnings before interest, tax, depreciation and amortization (EBITDA) rose by 54.7 per cent. This corresponds to an EBITDA margin of 18 per cent, up from 12.6 per cent in the previous year. Earnings before interest and tax (EBIT) more than doubled. Accordingly, the EBIT margin climbed to 11.6 per cent from the 5.7 per cent of the prior-year quarter.
Assuming that the overall business environment remains unchanged, Lenzing continues to expect a substantial improvement in earnings for the financial year 2016. It plans to expand its production capacities for specialty fibers. Various existing and new sites around the world are currently being examined to add new capacities.
This June marks the 90th edition of Pitti Immagine Uomo - an important moment in the journey of this event, which over the years, has become the reference trade fair showcasing men’s fashion and the latest trends in contemporary style on a global level. The first edition of Pitti Uomo was held in February 1972 at Florence. There were 43 exhibiting companies and a total of 526 buyers attended, 98 of which came from abroad.
At Pitti Uomo 90 to be held at the Fortezza da Basso, which has long been the fair’s hub, there will be over 1200 collections in total and more than 20,000 buyers are expected, 8,200 of which from abroad. These numbers attest to the evolution of the fair and of a world that is growing and developing every season, focusing on quality, research and internationality. It also proves the fair’s ability– at each edition – to generate new ideas and surprise its increasingly global public.
Pitti Immagine’s partnership with talented video makers has continued with the creation of digital art for the show’s advertising campaign. This new project applies motion design to the Pitti Lucky Numbers theme under the creative hand of Sergio Pappalettera and the direction of Ced Pakusevskij, with photography by Toni Thorimbert, production by HI Production and Max Brun’s supervision.
World Textile Information Network (WTiN) and IMI Europe have signed a strategic partnership for co-operation in the delivery of events and intelligence for the inkjet technology and textile user community. As per the deal, WTiN will offer its unrivalled knowledge of the digital textile printing market to further strengthen the technical content of IMI Europe conferences and seminars, while IMI Europe will in turn supply insights for WTiN media and events into new developments in the broader inkjet field, helping to analyse their potential impact on textile applications. The agreement also opens the way for joint activities in future.
WTiN is the publisher of the world-leading Digital Textile magazine and unique WTiN Intelligence: Digital Textilesservice, delivering detailed market data based on primary sources. It also has an ongoing global programme of WTiN Digital Textile Conferences, of which the next will be in New York on July 13, co-located with the Texworld USA fabric exhibition.
IMI Europe is the recognised leader in the delivery of high-level strategic and technical events for the inkjet printing industry, developing and organising high quality conferences and courses in Europe and Asia. Its annual events include the IMI Europe Inkjet Summer School (Heidelberg, Germany, June 20-24) and the IMI Europe Digital Printing Conference (Amsterdam, Netherlands, November 28-December 1).
The highly fragmented US apparel industry in the United States is estimated at about $182 billion, based on 2015 United States Census Bureau data. Chain stores and mass merchandisers have typically been more prominent in the clothing and accessories market. The US market for apparel has grown at a CAGR of 2.5 per cent over the last 10 years and 3.4 per cent over the last five years. In the last 10 years, the overall market for clothing in the United States has grown in all the years except 2008 and 2009. Conditions were challenging in these two years as a result of the Great Recession, which dampened US retail sales overall.
Meanwhile, the growth rate in activewear or athleisurewear has outpaced the overall clothing market, with a double-digit CAGR over the past five years. Incidentally, most of the gains in the clothing category in the past five years appear to have come from growth in the athleisurewear category. Athleisure is a term that was coined to describe apparel used for a variety of activities, including workout gear, clothes for hanging out with friends, and loungewear. Lately, workwear has also tended toward the casual. Consumers, particularly women and children, have shown a distinct preference for more casual apparel, including yoga wear and other athletic performance wear.
Rishad Bathiudeen, Sri Lanka's Minister of Commerce and Industry has vowed to safeguard the country's apparel industry from the Trans-Pacific Partnership (TPP) trade agreement which has the potential to result in trade diversion from Sri Lanka. The minister said, we need to be able to carefully address the new Trans-Pacific Partnership (TPP) Agreement. We in the government understand that TPP is a trade challenge in the future and are currently studying it.
Bathiudeen was addressing the launch of Ransalu Pranama Combo Card jointly by Joint Apparel Association Forum (JAAF) Sri Lanka, Channel 17, Mobitel and Commercial Bank at Cinnamon Grand, Colombo on May 9. The country's pioneering workforce smartcard was launched to honor its apparel workforce has matured to become the first ever dual swipe card in the country.
Further, the minister said the TPP is not a trade challenge only for Sri Lanka but it even affects trading systems of its own 12 member countries in the Asia-Pacific region including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam. The minister said Sri Lanka however, can generally expect some major aspects that could change and advised the apparel manufacturers to safeguard their designs.
Monsanto Mahyco Biotech has challenged the new price control notification for genetically modified Bt cotton seeds. Prices of Bt cotton seeds under the new notification, issued on March 8, came into effect from April 1. Under the new notification, the maximum retail price of Bollgard II Bt cotton seeds has been fixed at Rs 800 per packet, including Rs 49 as royalty fee payable to technology providers, for the 2016-17 season.
Prior to the notification, the average prevailing MRP was Rs 1,100 per packet and the royalty fee was Rs 163 per packet. Meanwhile, in a civil suit between Monsanto and one of its former licencees, Nuziveedu Seeds, Monsanto told the court that the seed company has not complied with court orders to pay it royalty after selling the old stock manufactured prior to November 2015.
Monsanto made the submission after Nuziveedu told the court that since the new notification has come, it cannot be compelled to pay more from April 1 onwards. However, to this Monsanto replied that since the license with Nuziveedu had been terminated on November l5 last year ,and as the termination has not been challenged, it is no longer a licensee and thus the notification would not apply to it. The court fixed the matter for hearing on May 16.
www.monsanto.com/
China’s cotton reserve auctions are off to a rapid start, outpacing last year’s sales in the first week alone, a sign of a shortage of high-grade supplies in the world’s top textile market. Beijing sold 1,20,350 tons in the first week of sale that began May 3, 2016. The bales sold, mostly imported cotton, represented nearly the entirety put up for sale and almost double the total volume sold in 2015.
This indicates a serious shortage of high-grade cotton for China’s textile sector. In the past, reserve sales have met tepid demand, raising questions over the quality of the fiber that’s piling up in China’s warehouses following a stockpiling program that Beijing scrapped in 2014.
The country's inventories were estimated to have swollen to some 11 million tons during the program. The aggressive buying pace is likely to continue as China’s spinners remain short of cotton. The daily rate of about 30,000 tons auctioned is likely to continue to be upped and it appears this year's offer price was more acceptable to buyers.
For 2016-17 crop year China's imports are expected to be up slightly from this year’s 13-year low but only one-fifth of the record buying pace seen four years ago.
US sports brand Nike has set environmental and social targets as a part of its vision for a low-carbon, closed-loop future. The targets to be achieved by 2020 include having zero waste from contracted footwear manufacturing sent to landfill or incineration without energy recovery, sourcing 100 per cent of products from contract factories meeting the company's definition of sustainable, and achieving a 10 per cent reduction in the average product environmental footprint and an increased use of more sustainable materials overall.
Other sustainability targets include: increase in water efficiency by 18 per cent per unit in apparel material dyeing and finishing, and working with fewer, better contract factories. The brand’s use of environmentally preferred materials has increased overall.
Nike believes it is not enough to adapt to what the future may bring. It believes in creating the future it wants to see through sustainable innovation. The company’s teams are advancing ambitious new business models and partnerships that can scale unprecedented change across the business and the industry.
Nike has set a moon shot challenge to double its business with half the impact. It's a challenge it has set for itself, its collaborators and its partners as Nike moves toward a circular economy future. This is a bold ambition that's going to take much more than incremental efficiency – it's going to take innovation on a never seen before scale.
www.nike.com/
Textile processing units in Sircilla, Telengana, are facing a water shortage. Drought conditions caused by monsoon failure have depleted the groundwater table and dried-up most of the borewells in Sircilla and its surroundings. The water woes, in turn, have become a bane for many textile workers. Getting regular work has become a luxury since the units they are employed with have no dependable water source now. Workers engaged in units with a dried-up water source count on their luck to get work as the owners have reduced production considerably due to the water scarcity and other market-linked problems.
They get work only when the unit owners order for water tankers to run different sections of textile processing from fabric dying to starching, stentering (stretching), sizing, drying and others. It also depends on orders the units get. Or else the workers have to bide their time at home.
The crisis in the textile units coupled with water woes is affecting workers’ lives from children’s education to family’s health needs. Sircilla at one time had handloom, power loom and textile processing units whirring round-the-clock. There were over a 100 units a decade ago. Hardly 70 are functioning now and more than half are on the verge of closure.
