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In a year marked by economic uncertainty and a growing awareness about sustainability, the secondhand market has emerged as a clear winner. New data from Consumer Edge, a leading provider of global consumer insights, reveals that resale spending outpaced traditional retail throughout 2024. This trend, driven by budget-conscious shoppers and a desire for unique items, signals a significant shift in consumer behavior with potentially lasting implications for the retail landscape. "The resale market's strong performance in 2024 is a testament to the changing priorities of consumers," says John Smith, Chief Analyst at Consumer Edge. "Shoppers are increasingly seeking value, sustainability, and uniqueness in their purchases. The secondhand market offers all of these, and platforms like Grailed and Depop have successfully tapped into this growing demand."
Resale spending on the rise
Resale spending growth surpassed overall retail spending in 2024. This outperformance was particularly pronounced in the apparel, accessories, and footwear sector.
Resale momentum surged in the latter half of the year. After a summer lull, resale spending rebounded with a 5 per cent year-over-year growth in October, the highest point of the year.
Peer-to-peer marketplaces are leading the charge. Platforms like Grailed and Depop, which facilitate direct transactions between consumers, saw explosive growth, with year-over-year spend increases of over 180 per cent and 90 per cent respectively. For example, social shopping platform Grailed focused on menswear saw a remarkable increase in popularity, this was because of its curated selection of high-quality secondhand items and a strong community engagement. "Grailed has become the go-to destination for fashion-conscious men looking for unique pieces at accessible prices," says David Rosenblatt, CEO of Grailed. "Our growth reflects the increasing desire for individuality and self-expression through fashion."
Similarly, Depop popular among Gen Z, fosters a vibrant community where users can buy and sell unique fashion finds. The platform's emphasis on individual style and creative expression resonates with young consumers seeking alternatives to mass-produced fashion. "Depop is more than just a marketplace; it's a platform for discovering and celebrating personal style," says Maria Raga, CEO of Depop. "Our users are passionate about sustainability and self-expression, and they're driving the growth of the circular economy."
Moving ahead, the secondhand market is expected to continue growing in 2025. As consumers become more conscious of their environmental impact and seek ways to stretch their budgets further, the appeal of secondhand goods is only likely to increase. This trend presents both challenges and opportunities for traditional retailers. While some brands are embracing the resale market by launching their own secondhand platforms, others risk being left behind if they fail to adapt to this evolving consumer landscape.
Latest CITI analysis reveals India's textile and apparel sector clocked in robust export growth in December 2024. Both textiles and apparel registered double-digit growth compared to the same period last year, signalling a positive trend for the industry.
December textile exports on the upswing
Textile exports in December 2024 were 12.76 per cent higher than in December 2023, reaching $1,798.49 million. This strong performance was driven by notable growth in several categories, including jute manufacturing (51.58 per cent), handicrafts (14.90 per cent), and cotton yarn/fabs (11.98 per cent). While cumulative textile exports for the period April-December 2024 showed a more moderate increase of 4.87 per cent, this still indicates a positive overall trajectory for the sector
Table: Textile exports
|
Particulars |
Dec-23 |
Dec-24 |
% Change |
Apr-Dec 23 |
Apr-Dec 24 |
% Change |
|
Cotton Yarn/Fabs./made-ups, Handloom Products etc. |
937.93 |
1,050.31 |
11.98% |
8,670.08 |
8,914.73 |
2.82% |
|
Man-made Yarn/Fabs./made-ups etc. |
374.57 |
421.51 |
12.53% |
3,428.34 |
3,610.27 |
5.31% |
|
Jute Mfg. including Floor Covering |
24.97 |
37.85 |
51.58% |
258.93 |
283.93 |
9.66% |
|
Carpet |
122.98 |
134.23 |
9.15% |
1,037.94 |
1,149.50 |
10.75% |
|
Handicrafts excl. handmade carpet |
134.54 |
154.59 |
14.90% |
1,172.21 |
1,319.12 |
12.53% |
|
Textile Total |
1,594.99 |
1,798.49 |
12.76% |
14,567.50 |
15,277.55 |
4.87% |
December apparel exports on the rise
Apparel exports also performed well, with a 12.89 per cent year-on-year increase in December 2024, reaching $1,462.26 million. This positive momentum contributed to a significant 11.58 per cent rise in cumulative apparel exports for the April-December 2024 period.
Table: Apparel exports
|
Particulars |
Dec-23 |
Dec-24 |
% Change |
Apr-Dec 23 |
Apr-Dec 24 |
% Change |
|
Apparel |
1,295.27 |
1,462.26 |
12.89% |
10,141.67 |
11,316.09 |
11.58% |
Overall, the combined exports of textiles and apparel reached $3,260.75 million in December 2024, a 12.82 per cent increase compared to December 2023. As for cumulative performance from April to December 2024, the total value of textile and apparel exports grew by 7.63 per cent year-on-year. The share of textiles and apparel in India's total exports rose from 7.53 per cent in December 2023 to 8.58 per cent in December 2024, highlighting the growing importance of this sector to the Indian economy.
Quarterly growth momentum continues
In fact, India's textile and apparel sector continued its positive growth path in the last quarter of 2024, reveals the updated CITI analysis from October and November. Both textiles and apparel have shown consistent growth compared to the same period last year, reinforcing the sector's strong position in the Indian economy.
Table: Quarterly textile exports
|
Particulars |
Oct-24 |
Nov-24 |
Dec-24 |
Oct-23 |
Nov-23 |
Dec-23 |
|
Cotton Yarn/Fabs./made-ups, Handloom Products etc. |
985.12 |
1,012.54 |
1,050.31 |
854.21 |
897.65 |
937.93 |
|
Man-made Yarn/Fabs./made-ups etc. |
398.75 |
405.82 |
421.51 |
345.87 |
358.12 |
374.57 |
|
Jute Mfg. including Floor Covering |
32.15 |
35.42 |
37.85 |
21.54 |
23.87 |
24.97 |
|
Carpet |
128.54 |
131.87 |
134.23 |
110.32 |
118.65 |
122.98 |
|
Handicrafts excl. handmade carpet |
145.21 |
149.85 |
154.59 |
125.87 |
130.21 |
134.54 |
|
Textile Total |
1,689.77 |
1,735.50 |
1,798.49 |
1,457.81 |
1,528.50 |
1,594.99 |
Textile exports showed consistent growth over the three months leading to December 2024. October and November saw increases of 15.91 per cent and 11.56 per cent respectively compared to the same months in 2023. This culminated in a 12.76 per cent year-on-year rise in December, reaching $1,798.49 million. All key categories within textiles contributed to this growth, highlighting the broad-based strength of the sector.
Table: Quarterly apparel exports
|
Particulars |
Oct-24 |
Nov-24 |
Dec-24 |
Oct-23 |
Nov-23 |
Dec-23 |
|
Apparel |
1,358.92 |
1,410.55 |
1,462.26 |
1,185.42 |
1,240.87 |
1,295.27 |
Apparel exports too followed a similar trend, with October and November registering strong growth of 14.65 per cent and 13.66 per cent respectively compared to the previous year. December saw a further acceleration, with a 12.89 per cent year-on-year increase, reaching $1,462.26 million.
Overall the combined exports of textiles and apparel showed consistent growth throughout the October-December 2024 period. This sustained momentum underscores the sector's resilience and positive outlook. From April to December 2024, the total value of textile and apparel exports grew by 7.63 per cent year-on-year, driven by the strong performance in the last quarter. The share of textiles and apparel in India's total exports rose from 7.53 per cent in December 2023 to 8.58 per cent in December 2024, further solidifying its contribution to the Indian economy.
Despite the positive growth, the industry faces challenges such as rising raw material costs and increasing competition in the global market. However, the strong performance in December 2024 indicates resilience and potential for continued growth in the textile and apparel sector. The government's support through initiatives such as production-linked incentives (PLIs) is expected to further boost the industry's competitiveness and contribute to its expansion in the coming years.
Profitability of the polyester filament yarn (PFY) sector is expected to improve in 2025 as the production capacity of direct-spun PFY will grow by 3.5 per cent to 1.82 million tons.
Additionally, favorable dynamics in polyester raw materials like PX and MEG, along with stable oil prices and limited RMB depreciation will help prevent significant inventory devaluation.
While a potential US-China trade war 2.0 may shift export demand, China’s cost and scale advantage in polyester will cause orders to shift to exports of raw or semi-finished goods, impacting downstream profits but sustaining upstream stability.
In 2024, the profitability of polyester filament yarn remained challenged due an 8.4 per cent rise in production. Higher operating rates, especially during the Spring Festival, added 1.5 million tons, while 2023’s capacity expansion operated at full capacity, contributing over 4 million tons.
Falling oil and polyester raw material prices devalued PFY inventories significantly during the year, slashing prices by 1,400 yuan/mt. Fixed-price policies briefly improved margins but led to higher inventories, exacerbating losses during the price collapse.
However, since mid-December, the polyester filament yarn (PFY) market has been showing a strong performance, with inventory levels dropping to their lowest in 2024. Two key factors have been driving this improvement: better downstream demand in December compared to November and a steep drop in PFY prices, which encouraged bulk purchases by buyers.
With reduced inventories, PFY prices have rebounded by 500–600 yuan/mt, restoring profitability. Margins for conventional products like POY150D/48F have recovered to 200–300 yuan/mt.
Iluna Group's strategy is deeply inspired by Lavoisier's famous law, guiding its creative process with an emphasis on transformation over creation. Federica Annovazzi, Creative Director of Iluna, explains that today’s true artistry lies in reimagining what already exists. She believes that innovation stems from refining processes, with a focus on sustainable, conscious, and culturally significant transformations in design.
For Summer 2025, Iluna introduces three key creative moods: Simpleness, Essences, and Divine. Simpleness celebrates the beauty found in everyday life, inspired by Ken Scott’s floral maximalism, which comes to life in intricate laces. Essences reflects the timeless purity of water, symbolizing fluidity and evolution, drawing inspiration from Iris Van Herpen's sensory and movement-driven design. Finally, Divine invokes Eastern spirituality through delicate flowers, blending botany and luxury fashion, inspired by Guo Pei’s artistic fusion of Chinese imperial style and European fashion.
Iluna Group, a pioneer in sustainability, has been committed to environmental responsibility since 2018 with its Green Label range. The company ensures full control over its production chain, from polymer to finished lace, with transparency and traceability through the Higgs Index. Its share of sustainable production has risen from 3 per cent in 2018 to over 50 per cent in 2022.
In total, Iluna has produced 7.5 million meters of Green Label lace, saving significant water resources. Innovations include GRS-certified Lurex nets, special finishes like printing and flocking, and eco-friendly materials such as organic cotton and Roica EF, reinforcing the company’s dedication to sustainability and responsible innovation.
Apparel exports from India recorded a significant 12.9 per cent growth in December 2024 compared to the same month last year, according to Sudhir Sekhri, Chairman of the Apparel Export Promotion Council (AEPC). He highlighted that the sector has maintained robust growth over the past six months despite global challenges and subdued demand from major markets.
Sekhri emphasized that this is an opportune time for India to strengthen its global footprint by entering new markets and leveraging platforms like Bharat Tex 2025. The upcoming expo will facilitate new business alliances, expand sourcing networks, and promote Foreign Direct Investment (FDI) in the Indian textile sector.
From April to December 2024-25, ready-made garment (RMG) exports totaled $11,316.2 million, marking an 11.6 per cent increase compared to the previous year. India also achieved impressive growth in key markets: 14.3 per cent in the USA, 8.1 per cent in the UK, 9 per cent in Germany, 20.7 per cent in Spain, and 33.6 per cent in the Netherlands. Notably, exports to free trade agreement (FTA) markets like Korea (22.7 per cent), Japan (9 per cent), Australia (9.8 per cent), and Mauritius (16.6 per cent) also surged.
Sekhri attributed this success to improved product acceptance, compliance-focused factories, and industry-friendly government policies. He expressed optimism about the long-term outlook for Indian apparel exports, driven by adaptability to changing consumer trends and innovation.
Bharat Tex 2025 promises to be a vibrant platform showcasing the synergy of sustainability, global branding, and innovation, enabling the industry to scale greater heights.
The polypropylene yarn market is evolving rapidly, driven by growing demand for sustainable and high-performance textiles. With the industry focusing on cost efficiency and cutting-edge fibre technologies, advancements in polypropylene and functional yarns are at the forefront. Yarn Expo Spring, taking place from 11–13 March 2025 at the National Exhibition and Convention Center in Shanghai, will serve as a platform to showcase these innovations.
Sustainability, smart materials, and advanced manufacturing processes have made functional textiles more durable and versatile. Polypropylene (PP) yarn is widely used in clothing, carpets, industrial textiles, geotextiles, and medical applications. As industries demand adaptable materials, the polypropylene yarn market is projected to reach $38.3 billion by 2037, growing at a CAGR of 5.7 per cent.
Asia-Pacific, led by China and India, dominates the polypropylene yarn market. China’s robust textile manufacturing sector positions it as a top producer and exporter. Yarn Expo Spring 2025 will highlight this leadership with exhibitors showcasing the latest innovations.
Notable participants include Guangdong Modern High-Tech Fiber Co Ltd, China’s top polypropylene filament manufacturer with an annual output exceeding 50,000 tons; Shandong Tengzhou Huamao Textile Ltd, known for high-tenacity PP yarn and fibres; and Qingdao Bangte Ecological Textile Technology Co Ltd, which develops green and functional fibres like Greenwarm with antiseptic properties. Taiwan’s Neshin Spinning Co Ltd and Suzhou Pure-fiber Textile Technology Co Ltd will also display advanced functional yarns.
Organised by Messe Frankfurt (HK) Ltd and CCPIT, Yarn Expo Spring runs alongside key industry events, offering exhibitors and buyers unmatched networking and business opportunities.
Being held at the International Convention City Bashundhara (ICCB) in Dhaka, from January 15-18, 2025, Dhaka Int’l Yarn and Fabric Show highlights cutting-edge technologies in textile and garment sectors.
Organized by CEMS-Global USA and CCPIT-Tex China, this event serves as a vital platform for industry professionals to explore innovations, establish partnerships, and engage with over 325 exhibitors from over 15 countries showcasing premium yarns, fabrics, trims, and accessories.
During the event, industry leaders called on the government to implement supportive policies to address challenges in the struggling textile and garment sectors. Mohammad Hatem, President, Bangladesh Knitwear Manufacturers and Exporters' Association (BKMEA), voiced concerns about the declining value addition in the knitwear sector, which has fallen from over 85 per cent to 50-60 per cent due to outdated government policies. Without immediate intervention, the sector’s challenges would deepen, Hatem warned.
He further criticized the government’s decision to reduce incentives following Bangladesh’s graduation from Least Developed Country (LDC) status. He contrasted this with India’s continued policy support for its ready-made garment (RMG) industry, which has helped attract foreign investment. Hatem urged the Bangladesh Investment Development Authority (BIDA) to take proactive measures to address these issues and foster a favorable investment environment. He also encouraged Chinese investors to consider Bangladesh’s textile sector.
Anwar Hossain, Vice Chairman, Export Promotion Bureau (EPB) and Administrator, Bangladesh Garment Manufacturers and Exporters Association (BGMEA), assured entrepreneurs that steps were being taken to resolve these issues. He expressed concern over rising gas prices, which are affecting business expansion and deterring foreign investment. Hossain emphasized the importance of creating a business-friendly climate and focusing on backward linkages and non-cotton goods production to prevent further declines in value addition.
Other key speakers at the event included Dewan Muhammad Humayun Kabir, BIDA, Song Yang, Commercial Consulate of China in Bangladesh, and Zhang Jian, Secretary, Chinese Embassy in Bangladesh.
The exposition proves to be crucial bridge between Bangladeshi manufacturers and international suppliers, fostering growth and collaboration in the global textile industry, affirms Meherun N. Islam, President and Group Managing Director, CEMS-Global.
Ekoten Textile, Europe’s premier knitting manufacturer and Turkey's top circular knit exporter, has expanded its production capabilities by integrating Karl Mayer technology. The Izmir-based industry leader, known for its daily output of 40 tonnes of premium fabrics, is entering the warp knitting sector with cutting-edge tricot machines.
The newly established warp knitting division began production in January 2025 at a state-of-the-art 10,000 square meters facility. This move aligns with Ekoten’s commitment to innovation and meeting the growing demand for advanced textiles, particularly in the activewear market, which now constitutes 70 per cent of its sales.
Renowned for supplying high-end brands like Decathlon, Lululemon, and Hugo Boss, Ekoten aims to provide comprehensive solutions, offering both circular and warp-knitted fabrics. With the addition of Karl Mayer’s HKS machines, the company is well-positioned to cater to the increasing demand for functional and technical textiles.
Ekoten’s R&D efforts are equally impressive, creating around 300 new fabric designs monthly. “While circular knitting has been our strength, warp knitting opens exciting opportunities for us,” said Bilge Cinar, development executive at Ekoten.
To ensure seamless integration, Ekoten’s team underwent extensive training at Karl Mayer facilities in Turkey and Germany. The partnership also benefits from Karl Mayer’s global infrastructure, including local support and expert guidance.
Ekoten’s warp-knitted fabrics will debut at Premiere Vision Paris in September 2025, with additional showcases in Munich and Portland. The company plans to scale its warp knitting operations, aiming to replicate its market leadership in circular knitting.
The Joint Apparel Association Forum (JAAF) has reiterated the need for targeted policy initiatives to help Sri Lanka capitalize on opportunities created by the geopolitical shifts in global apparel trade.
Emphasizing the stagnant growth of apparel export earnings over the past decade, JAAF highlighted the need for more strategic planning to enhance the country's competitiveness in the global market.
Yohan Lawerence, Secretary, JAAF, points out, Sri Lanka’s outdated policies have hindered its ability to capture and maintain valuable market shares amidst changing trade dynamics. The association is currently lobbying with the American Apparel and Footwear to secure Generalized System of Preferences (GSP) for Sri Lanka’s apparel products in the US.
The association aims to initially source raw materials and identify products meeting the criteria, informs Lawrence. He emphasized on the need to evaluate the markets and identify countries that require FTAs.
From January - November 2024, Sri Lanka’s apparel exports grew by 5.27 per cent Y-o-Yto $4.3 billion, compared to the same period in 2023. The country’s exports to the United States and the UK grew 6.25 per cent Y-o-Y and 9.37 per cent Y-o-Y respectively. Meanwhile, exports to the EU saw a slight increase of 0.04 per cent Y-o-Y while shipments to other markets also grew by 9.43 per cent Y-o-Y.
Driven by denim mills’ and manufacturers’ efforts to embrace regenerative agriculture, the global denim industry is making a significant shift toward regenerative cotton.
This transition is being accelerated by initiatives aimed at educating farmers, providing funding, and sourcing locally grown, traceable regenerative cotton. These efforts aim to create a more sustainable and resilient denim production process by focusing on soil health, carbon sequestration, and water conservation.
Some of the key mills leading this change include the Brazil-based Vicunha which has incorporated regenerative cotton into its product range through its Regen by Vicunha initiative. The mill has partnered with Scheffer, a leader in regenerative cotton production, and aims to produce 2 million meters of regenerative denim by 2025.
Similarly Pakistan-based Artistic Milliners is expanding its regenerative cotton program from 92 farmers in 2023 to 600 in 2024. The program focuses on regenerating ecosystems in Rahim Yar Khan, a region affected by chemical-based farming practices. The mill plans to increase its use of regenerative cotton from less than 2 per cent to 5 per cent over the next few years, with an emphasis on soil health, carbon emissions reduction, and biodiversity.
Pakistan-based Soorty launched the Soorty Regenagri Initiative in 2023, targeting 5,000 acre in South Punjab. The initiative focuses on sustainable practices like reducing chemical use, promoting biodiversity, and increasing female farmer participation. The brand’s regenerative cotton usage increased significantly in 2024, and it plans to continue expanding based on customer demand.
The global demand for regenerative cotton is growing despite the challenges faced by regenerative agriculture related to supply chain consistency, lead times, and cost. The denim industry’s shift towards regenerative cotton represents a growing commitment to sustainability, with mills and brands scaling up production and working together to promote long-term ecological restoration.
