FW
Target’s comparable sales grew by 1.5 per cent in the fourth quarter. Comparable digital sales grew 20 per cent. Revenue grew by 1.8 per cent. Full-year sales increased 3.6 per cent, reflecting a 3.4 per cent increase in comparable sales combined with sales from non-mature stores. Revenue for the year grew by 3.7 per cent compared to last year, reflecting sales growth of 3.6 per cent and a 6.3 per cent increase in other revenue.
The company, a general merchandise retailer, has more than 1,860 stores in US and employs more than 3,50,000 people. Target has had eleven consecutive quarters of positive comparable sales growth, driven by healthy performance in both its stores and its digital channels. Target has built a sustainable business model that drives strong topline growth and consistent bottom line performance. In the fashion department, it has refreshed stores to make individual brands look more like their own mini boutiques, with more mannequins and table displays showing off merchandise. It has launched dozens of in-house apparel brands over the past three years. Target sources a variety of products from India and works with around 100 Indian exporters like Radnik Exports, Orient Fashion Exports, Richa Global Exports, Shivalik Prints, Trident and Vardhman.
J Crew’s profit climbed 15.4 per cent in 2019. Revenue went up by 2.3 per cent. Thanks to the strategy carried out throughout 2019, the company has created a stronger and more efficient operational base.
American group J Crew has been an institution since 1983. It is renowned for its fresh, luxurious take on everyday staples. America’s favorite basics store J Crew is known for its lace jogging pants, skirts, tank tops, tees, dresses, fine Italian cashmere sweaters, sequin and lace-detailed skirts and playful jewelry. The brand was always interested in quality, often focusing and investing on small details. But then it came into competition with a new class of trendy fast fashion retailers who operate at lightning speed. Also, design details such as nicer buttons and richer colors are less apparent on the internet. J Crew is now trying to compete without marking everything down by 40 per cent every other week. It has created an analytics team to research and optimize the cost of each item. It also plans to switch up its supply chain beyond China. J Crew is the owner of the brand Madewell whose sales increased by 14 per cent in the last year.
As more customers are shopping online, Australian retailers are focusing on smaller stores with more localised ranges. A smaller offline apparel market means brands will need to rethink the way they reach their customers. Brands are becoming less reliant on being stocked in bricks-and-mortar stores and focus more on direct-to-consumer sales. It’s about a collection of 18 pieces that change every month and about not having stock in-store. There are possibilities and opportunities for small brands to be more nimble and respond to the market than with more stock. Emerging designers may be best placed to thrive in this changing bricks-and-mortar landscape because many of them are already questioning traditional ways of selling. Several Australian designers have returned to making products to order, which not only suits a smaller bricks-and-mortar footprint, but is also more sustainable.
Questions remain whether one-off factors have driven retail sales higher over the past two months, but recent economic data, particularly around the labor market, new car sales and tourism, has been strong. And Australia’s population is currently growing far quicker than what many previously thought. These are all factors that would generally support retail sales growth, and with consumer confidence also edging higher, it suggests that perhaps the outlook for retailers is not as bad as expected.
Toni Ruiz is the new chief executive officer of Mango. Previously he was general manager at Mango. He joined the fashion brand as head of finance in 2015, and has been part of the executive team for nearly five years. He rose to general manager two years ago in a move that saw him assume overall responsibility for managing the business.
With an economics degree and an MBA, Ruiz spent many years at Leroy Merlin, part of Adeo, as finance chief for the Spanish market. He was also in charge of international control and planning.
Founded in 1984, Mango is a Spain-based brand. Sales in financial year 2018 were up 1.8 per cent on the previous year. But losses remained quite high, marking a third consecutive annual loss. The business is hoping to return to profit in financial 2019. Mango has an international presence in over a hundred countries. Although the group is committed to directly controlling its online operations, in 2019 it began to franchise its platform in distant countries, where it does not have its own structure, with relevant local partners. Mango centralizes all its logistics in Spain, but it has seven satellite stores that service online operations, located in the United States, Germany, China, Russia, Turkey, Mexico, and South Korea.
Apparel Sourcing Week will be held in Bengaluru, June 18 to 20, 2020. The three day show will present opportunities for networking, knowledge and will feature 100 leading manufacturers from India, Bangladesh, Vietnam and Sri Lanka, showcasing a diverse portfolio of products and latest collections on one platform. Also present will be 50 manufacturers and suppliers of innovative fabrics and accessories. Knittech which specialises in flat knit shawls and stoles will be there. Knittech’s products are noted for their flexibility and elasticity in weaving. Its entire collection is in tune with international trends, with the best quality yarn, best possible infrastructural facilities and unique designs.
Star a provider of fashion apparel across a broad range of product categories including women’s and men’s woven garment, cut and sew knits and intimate apparel will be there. They provide customers comprehensive design services, product development resources, such as fabric sourcing and trim development and in-house value-added services such as garment washing and embroidery. Liva stands for high quality fabric made using natural cellulosic fibers of the Aditya Birla Group, delivered through an accredited value chain. Unlike other fabrics which are boxy or synthetic, Liva is a soft, fluid fabric which falls and drapes well. Anuma Fashions produces woven garments, specialising in shirts, blouses and shorts for children.
"Impacted by an economic slowdown and poor capital investments, Indian textile machinery exports declined 11.50 per cent to $743.32 million in 2019. Of all machines, spinning, twisting and yarn preparation machines were the largest exported products, though their exports declined by 29.86 per cent to $214.9 million in 2019 over the previous year. Bangladesh remained the top export market for most of India’s textile machinery goods."
Impacted by an economic slowdown and poor capital investments, Indian textile machinery exports declined 11.50 per cent to $743.32 million in 2019. Of all machines, spinning, twisting and yarn preparation machines were the largest exported products, though their exports declined by 29.86 per cent to $214.9 million in 2019 over the previous year. Bangladesh remained the top export market for most of India’s textile machinery goods.
Commodity-wise textile machinery exports from India
Exports of spinning, twisting and yarn preparation machines declined 29.86 per cent in 2019. Bangladesh was the top market for Indian machines, with total exports declining by .35.31 per cent over previous year.
Under this segment, cotton spinning ring frame was the most exported item. However, the exports for this commodity declined by 31.96 per cent to US$ 118.67 million over the previous year. The second top exported item were cotton processing machinery whose exports grew 90.22 per cent to $90.22 million. Exports of cotton spinning roving frames registered a negative growth of 39.95 per cent while those of cotton combing machines too declined by 33.36 per cent. Export of blowroom machines declined by 47.47 per cent. Under this segment, parts and accessories used for extruding, drawing and texturing of auxiliary machinery was the topmost commodity worth $48.58 million in 2019. Netherland continued to be top market, with a value of $18.68 million.
Knitting machinery grows, processing machines decline
In 2019, export of knitting machines grew 31.87 per cent to $2.87 million while sewing machines grew 0.94 per
cent to $58.68 million. Germany was the top market with exports growing 9.93 per cent during the year.
Export of processing machines registered a negative growth of 27.38 per cent, while that of printing machinery grew 19.66 per cent. Bangladesh was the top market for this commodity with exports growing 19.95 per cent. A part of printing machinery used for ancillary printing was the topmost commodity exported from India in 2019. Its exports totaled to $19.25 million during the year with a minor decline of 0.54 per cent over previous year. Export of weaving machines (looms) exports declined 7.14 per cent to $34.75 million with Vietnam being the topmost market.
Bangladesh leads Indian export growth
Though Bangladesh remained the top export market for India’s textile machinery products, in 2019, exports to the country declined 26.81 per cent to $82.99. Spinning, twisting and yarn preparation machines were the most exported commodity with exports declining 35.31 per cent to $35.99 million. Export of printing machinery also declined 20 per cent to $17.35 million during the year.
Germany retained its position as the second biggest export market for India’s textile machinery products with $63.39 million and an adverse growth of 2.40 percent.
Amongst the top seven export markets for India, Italy was the only country that witnessed positive growth in 2019. Exports to the country grew 19.35 per cent to $26.79 million. On the other hand, exports to Turkey declined 52.74 per cent to $25.98 million in 2019 over previous year. Spinning, twisting and yarn preparation machine was exported the most in 2018, but registered a fall of 52.95 per cent in 2019 to $14.83 million over previous year.
Footwear brand Neeman’s has raised $1 million (Rs 7 crore) in pre-series A funding led by Anicut Angel Fund and other angel investors. The brand will use the funds for expanding its business, product portfolio, and marketing. This investment will support the brand’s journey, as it scales up in a growing footwear market in India while targeting aware, responsible, comfort-seeking and fashion-conscious customers.
Neeman’s was founded in 2017 by Taran Chhabra and Amar Preet Singh and projects itself as an all-day wear brand claiming that it makes use of recyclable and chemical-free materials for its products. The brand recently launched its eco-friendly merino shoe brand in collaboration with The Woolmark Company on its e-commerce site. The collection includes classic sneakers, jogging shoes, and loafers in a range of colors.
Italian textile producer and luxury men’s wear label Ermenegildo Zegna and US casual wear brand, Fear of God have entered into a partnership. Over 95 per cent of the fabrics in the collection of suits and double-breasted leather blazers come from Zegna’s mills. Fear of God provided the denim and a light-but-dense cotton seen in roll-neck tops. Silhouettes are looser. Details are deft, especially at the neckline in this tieless collection – like marvelous silk tops, cuffed and finished with clever zippered funnel-necks. There are excellent checked Chesterfields, dashing suede shirt-jackets and plush lambskin jerkins. Any lapel is dropped or lazy. Lots of pants are finished with cummerbunds or wide waist-belts; jackets come with Henleys and soft collar tops. The tailoring is easily digestible since a too tailored look is anathema for this generation.
The range is titled Fear of God exclusively for Ermenegildo Zegna XXX, from the triple-X couture division of the Italian label. In total, there are 39 looks, accessorized with some natty gray suede moccasins and smart boots. Plans are to retail the collection in over 30 Zegna flagships, major department stores and e-tailers. The collection is aimed at a new clientele.
In the first nine months of 2019, Vietnam’s exports to the US jumped by 34.8 per cent. >But the US no longer considers Vietnam a developing country. This means Vietnam will stop receiving some preferential treatment. Vietnam’s developing country status with the WTO remains unchanged and it still enjoys the Generalized System of Preferences (GSP). Vietnam, however, will have to be even more careful to deal with origin fraud and transshipment as this has been the source of US tariffs on Vietnam in the past. The tariffs were imposed to prevent steel products that originated from China attempting to bypass anti-dumping rules. Overall, Vietnam-US trade will likely to continue to increase. However, Vietnam will need to be more careful particularly for industries such as steel, footwear and agricultural products exports to the US, which have been growing. If it does not, the US is likely to impose countervailing duties on products that it deems to harm its domestic industries.
The US has recently slimmed down its list of developing and least developed countries. So the move is not directed specifically at Vietnam but includes several other countries. The move will allow the US a reduced threshold for starting an investigation into which countries are harming US industries with subsidized exports.
The global T-shirt market is growing at six per cent and is expected to register significant growth with rising disposable incomes and a rapidly shifting trend toward customized T-shirts. In addition, advances in technology have led to the introduction of advanced inkjet heads that are compatible with a variety of inks from different suppliers. In addition, fine embroideries with a faster output rate have also been developed significantly. The industry has been aligning its research and development activities taking into account the dynamic nature of fashion trends demanding shorter production cycles and high-quality prints.
Cotton is the most common and preferred fabric for T-shirts. However, other materials such as linen, Lycra, polyester, rayon, and blends of two or three materials are also used for manufacturing T-shirts. T-shirts made from Lycra and polyester are generally used for athletic apparels, while cotton and linen T-shirts are preferred for daily casual wear.
Based on ink type, the T-shirts market is classified into dyes ink, sublimation ink, pigment ink and others. The emergence of advanced alternative techniques such as sublimation printing is a major driving factor for custom T-shirt printing and the dyes and inks involved in printing the T-shirts. Printing technology and advanced machines capable of creating flawless embroidery have also helped the overall T-shirt industry to flourish.
