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Prominent US apparel conglomerate, VF Corporation plans to embark on an ambitious expansion in partnership with global retail giant GMG.
Spanning the Middle East, North Africa, and Southeast Asia, the company’s expansion plan involves setting up over 300 stores for VF Corp's renowned brands, including Vans, The North Face, and Timberland, within the next five years.
As a part of the partnership, GMG will expand the presence of VF Corp's brands by setting up network of mono-brand partner stores across the world. The company currently operates 90 mono-brand stores in the Middle East, North Africa, and Southeast Asia, which it plans to expand extensively by 2029.
The company also plans to introduce VF Corp’s brands in new Southeast Asian markets. It will particularly focus on the United Arab Emirates and the Kingdom of Saudi Arabia, while extending its footprint into North Africa and Egypt. It will also introduce The North Face brand in the North African market.
Mohammad A. Baker, Deputy Chairman and CEO, GMG, highlights the shared vision between the two entities and the commitment to deliver exceptional consumer experiences. Citing factors like an expanding labor force and a burgeoning consumer base, he underscores the immense growth potential of the SEA market.
Martino Scabbia Guerrini, Executive Vice President and Chief Commercial Officer, VF Corporation, emphasises on the role of the enhanced partnership in driving regional marketplace strategies and delivering innovative solutions to better cater to local consumers' needs.
Having commenced in 2012 with the brand Timberland in GCC countries, the collaboration between GMG and VF Corporation, has evolved significantly to encompass multiple brands across various regions. Despite VF Corporation registering a 16 per cent discline in Q3of fiscal 2024, the company remains focused on its strategic expansion efforts, underpinned by its partnership with GMG.
Owner of the House of Fraser, Sports Direct and Flannels, British retail conglomerate Frasers Group has acquired independent menswear retailer Aphrodite.
Established in 1994, Aphrodite operates a store in Sunderland, UK, and has been selling clothing globally through its website, Aphrodite1994.com since 2007.
The retailer stocks apparel and footwear from brands, including Canada Goose, Comme Des Garcons and Paul Smith. It has been planning to expand its sportswear portfolio. In January 2024 it acquired the assets and IP of CrossFit and fitness performance brand WIT Fitness as part of its wider strategy to become a world-leading sports retailer.
The group has also gradually increased its shareholding of online apparel specialists Boohoo where it is now the largest single shareholder, and Asos.
Renowned luxury couture label Anita Dongre has joined forces with Bemberg, the esteemed brand of cupro fibre by Asahi Kasei Corporation, Japan, to unveil their latest collection, 'Azure.' This collaboration marks a significant stride towards sustainable fashion, blending nature-inspired aesthetics with eco-friendly craftsmanship.
Anita Dongre, celebrated for her timeless elegance and sustainability ethos, seamlessly integrates Bemberg yarn into the 'Azure' collection, epitomizing a steadfast commitment to responsible fashion. The collection, reminiscent of the serene sea, boasts soft hues and delicate palettes, offering breezy dresses, kaftans, and elegant sets perfect for spring-summer wardrobes.
Founder and Creative Director of Anita Dongre, expressed her enthusiasm, highlighting the brand's dedication to consciousness in every aspect of their business. The 'Azure' collection signifies this dedication, featuring Bemberg yarn known for its luxurious feel and biodegradability, aligning perfectly with the brand's eco-mindfulness.
Takeshi Iitaka, General Manager of Bemberg Sales and Marketing Department two at Asahi Kasei Corporation, emphasized the collaboration's significance in promoting sustainable luxury fashion. The partnership resulted in a mesmerizing capsule collection embodying elegance and eco-mindfulness, utilizing the unique properties of Bemberg yarn.
This partnership underscores a shared vision for a more sustainable fashion industry, where environmental responsibility harmonizes with style and quality. The 'Azure' collection stands as a testament to this vision, offering discerning consumers garments of unparalleled beauty and environmental integrity.
Committed to conducting business ethnically and sustainably, Teejay Lanka aims to achieve net zero emissions by 2050, says Salman Nishtar, Group COO - Marketing & Supply Chain. The company's proactive embrace of Environmental, Social, and Governance (ESG) principles is integral to its core business strategy, adds Nishtar. The company has set ambitious targets for 2030 and 2050, boosted by a comprehensive plan guiding its journey towards this overarching objective.
Teejay Lanka has developed a monitoring system to track key metrics such as carbon emissions, water usage, and energy consumption, enhancing resource efficiency. Its commitment to reduce greenhouse gas emissions is validated by the Science Based Targets initiative, ensuring alignment with a 1.5°C trajectory. The company targets a 42 per cent reduction in Scope 1 & 2 emissions and a 25 per cent reduction in Scope 3 emissions from purchased goods and services by 2030.
To support biodiversity, Teejay also pledges to plant one million trees along the Kelani River by 2050. It has already initiated reforestation projects in India and Sri Lanka on a Group level, earning him the top spot in the Higg Index among global players, highlighting its eco-friendly practices.
On the social front, Teejay's Corporate Social Responsibility (CSR) initiatives encompass raising awareness about sanitation, constructing washroom facilities in schools, and supplying hygiene products to promote health and hygiene standards.
The company's Akura program, repurposes unused paper into books for schools, promoting sustainability and education concurrently. In terms of Diversity, Equity, and Inclusion (DEI), Teejay's ‘SheCan’ initiative focuses on increasing women's leadership at the Group level, with the knitting operation in its India plant exclusively staffed by female employees.
Teejay's commitment to governance is underscored by its recognition as the No. 1 corporate for transparency in corporate reporting for the second consecutive year by Transparency International Sri Lanka, reflecting its unwavering dedication to transparency and accountability.
Experts predict a significant boost in Pakistan’s cotton yarn exports to China this year due to a good yield. In the first two months of 2024, Pakistan’s cotton yarn exports to China have surpassed the $100 million mark.
Data from the General Administration of Customs of the People’s Republic of China reveals, Pakistan’s cotton yarn imports increased by 98 per cent to over $100.98 million during the first two months of 2024, compared to the corresponding period last year.
In January and February of 2024, Pakistan’s exports of uncombed single cotton yarn alone surpassed $57.77 million with country emerging as the second-largest exporter in this category after Vietnam for the current year. Exports of uncombed single cotton yarn grew by $41.95 million in the first two months of 2024, compared to $14.54 million during the same period in the previous year.
Sajid Mahmood, Head - Transfer of Technology Department, Central Cotton Research Institute, highlights the Pakistan-China yarn trade as a pivotal opportunity for Pakistan to expand its exports beyond predominantly Siro Yarns.
Mahmood recommends diversifying into other high-quality variants such as cotton, carded, and combed yarns to enhance competitiveness in the Chinese market.
Despite Pakistan's advantage of a free trade agreement with China, the country faces stiff competition from India, particularly in non-Siro yarns, notes Mahmood.
Vietnam too presents a challenge with similar duty-free privileges, indicating the need for Pakistan to navigate through these competitive dynamics effectively, he adds.
In the pursuit of sustainability and innovation, the textile industry continues its relentless quest for new fibres and advanced technologies. The upcoming Techtextil 2024 exhibition, scheduled from April 23-26 in Frankfurt, Germany, promises to be a showcase of groundbreaking developments. Among the highlights are fibres derived from organic or recycled sources to meet sustainability goals and those boasting novel functional properties for high-performance applications.
Fibre Extrusion Technologies (FET), a specialist member of the British Textile Machinery Association (BTMA), stands at the forefront of this revolution. With its expanded Fibre Development Centre, FET has ramped up technical trials, catering to a diverse clientele from multinational corporations to startups. Managing Director Richard Slack emphasizes their focus on biopolymers, recycled fibres, and medical devices, highlighting the drive towards sustainable and functional solutions.
Moreover, Airbond unveils game-changing splicing technologies, offering efficient processing of costly fibres like UHMWPE, carbon, and aramids. Their innovative splicers, capable of handling yarns up to 16,000 tex, promise significant reductions in waste.
Techtextil 2024 also features sophisticated testing systems from BTMA members like James Heal and Verivide, ensuring quality control in technical fabric production. Additionally, Shelton Vision introduces WebSpector, a cutting-edge fabric inspection system with adaptive image processing techniques.
Amidst growing emphasis on sustainability, BTMA CEO Jason Kent underscores the industry's continual quest for new functionalities and processing technologies. Techtextil serves as a vital platform for industry players, facilitating growth and collaboration in an ever-evolving landscape.
Founded in 1940, BTMA plays a pivotal role in promoting British textile machinery globally, fostering collaboration and innovation within the sector. As the textile industry navigates towards a sustainable and technologically advanced future, exhibitions like Techtextil provide a crucial nexus for driving progress and seizing emerging opportunities.
Uniteks, one of Turkiye’s premier ready-made clothing manufacturers, has taken a significant stride towards enhancing its operational efficiency and profitability. The company has announced the adoption of Coats Digital’s GSDCost solution, aimed at revolutionizing its production operations.
With a keen focus on optimizing efficiencies, streamlining line balancing, and improving capacity planning processes, Uniteks seeks to ensure seamless alignment with customer expectations. This strategic move is anticipated to bring substantial improvements, ultimately boosting profits and solidifying its position in the market.
Uniteks, founded in 1990 and based in Izmir, Turkiye, is renowned for its intricately designed knitwear products, catering to esteemed global brands such as H&M, Zara, and Primark. Boasting an annual production capacity exceeding 40 million units and an annual turnover of $185 million, Uniteks consistently maintains its leadership position in the industry.
The decision to embrace GSDCost stems from the company's challenges with varied costings, inaccurate historical data, and inconsistent time studies. Ayhan Vatansever, Uniteks’ Productivity & Investment Manager, highlighted the need for standardized methods to address these issues effectively.
Coats Digital’s GSDCost solution, recognized as the international standard in the sewn products industry, offers a scientific approach to method analysis and time determination. This not only facilitates transparent garment costing but also fosters a more collaborative and sustainable supply chain.
In the words of Nejat Erdogan, Uniteks’ General Manager, the adoption of GSDCost will streamline cost planning processes, leading to more realistic pricing and improved customer service. Furthermore, it is poised to optimize production efficiencies and support the company’s digital transformation journey.
Coats Digital expressed enthusiasm in supporting Uniteks through seamless implementation and comprehensive training programs. This partnership underscores a shared commitment to embracing digital solutions for enhanced competitiveness and sustainability in the global market landscape.
Denim maker Levi Strauss has revised its yearly profit forecasts upwards attributing the increase to the company’s recent cost-saving measures that included reducing its workforce and adopting more moderate approach to discounts on its denim products.
To achieve cost efficiencies, Levi's streamlined its global corporate workforce, including trimming senior leadership positions, and streamlined operations in Europe while discontinuing lower-margin ventures like its Denizen brand and European footwear business. The company incurred a restructuring charge of $116 million in the first quarter.
Despite the company reporting a loss of $10.6 million in the first quarter, compared to a profit of $114.7 million the previous year, Harmit Singh, Chief Financial Officer expressed optimism about the stability of the US consumer market.
Sales of Levi's products directly to consumers through its website and owned stores increased by 8 per cent on a constant-currency basis during the quarter. However, sales through wholesale channels, including department stores like Macy's and Kohl's, declined by 19 per cent on a constant-currency basis, a sharper decline than the 3 per cent drop in the fourth quarter.
Additionally, higher full-price sales and reduced product costs boosted Levi's gross margins by 240 basis points to 58.2 per cent in the first quarter. However, the company maintains its full-year revenue growth outlook in the range of 1 per cent to 3 per cent.
Although Levi's net revenue decreased by approximately 7.8 per cent to $1.56 billion in the quarter ending February 25, it slightly exceeded estimates of $1.55 billion, according to LSEG data.
Facing reduced orders from retailers amidst inflation concerns, Levi's plans to trim its product range by approximately 15 per cent and focus on expanding products favored with consumers, particularly baggy fits and loose styles.
Frankfurt is set to host Techtextil, the premier global fair for technical and innovative textiles, from April 23 to 26, drawing attention to the dynamic landscape of the technical textile industry. Over 50 Italian textile machinery companies are poised to showcase their prowess in Germany, with 30 congregating at the Italian Pavilion, jointly organized by the Italian Trade Agency and ACIMIT (Association of Italian Textile Machinery Manufacturers).
The sector of technical and innovative textiles has witnessed a staggering growth trajectory, with global trade surging to €44.7 billion in 2023, boasting an average annual growth rate of 4.4 per cent since 2009. The European Union, contributing 35 per cent to this figure, solidifies its pivotal role in this domain. Leading the pack are Germany and Italy, accompanied by industry giants like China, the United States, and Japan.
This exponential growth has fueled an escalating demand for specialized machinery tailored to the unique needs of this sector. Italian manufacturers, with their renowned technological prowess, have adeptly risen to the challenge. With over 100 ACIMIT member companies catering to sector clients, their dominance is evident.
Marco Salvade, President of ACIMIT, underscores the significance of Techtextil as a linchpin for Italian manufacturers, reaffirming the adaptability and versatility of Made in Italy technologies. While the Italian contingent at Techtextil represents a significant portion of the nation's machinery producers for technical textiles and nonwovens, it also highlights their global prominence and unwavering commitment to innovation.
The Union Textiles Ministry plans to revamp testing infrastructure to tackle the issue of sub-standard textile exports and boost the country's reputation on the global stage. Industry leaders have been raising concerns regarding the impact of low-quality pashmina shawls and silk exports on India's image as a reliable supplier.
The ministry intends to establish cutting-edge laboratories besides upgrading existing facilities. Its primary goal is to rigorously test and authenticate the purity of various textile products, encompassing pashmina, silk, cotton, and coarse-wool items, prior to their shipment to international markets.
Expected to play a crucial role in elevating the quality standards of Indian textile exports, this comprehensive initiative will also instill greater confidence among global buyers concerning the authenticity of the products they procure from India. The initiative will help curb the export of sub-par products to the global market, thereby boosting India's position in the international textile industry.
