FW
Following in the footsteps of Bershka, another label under the Inditex umbrella, Pull & Bear is launching a new capsule collection to commemorate the 50th anniversary of Hello Kitty.
Inspired by the style trends of early 2000s, the licensed collection offers a range of items, from a short-sleeved T-shirt priced at €15.99 to denim shorts at €35.99. It features garment pieces like a denim top, a pink denim mini skirt, and a tulle shirt, predominantly in shades of white and pink.
The collection is complemented by various accessories, including socks adorned with the iconic character’s logo, a bandana, a shoulder bag available in pink or denim, a rhinestone belt, and assorted jewelry pieces such as necklaces in various styles. These items are already available online, with plans to hit stores on May 13.
Headquartered in Narón, A Coruña, Pull & Bear was founded in 1991 and is part of the brand portfolio managed by Marta Ortega, which also includes Massimo Dutti, Bershka, Stradivarius, Oysho, Zara, Zara Home, and Lefties.
Spanning over 200 markets through its online platform, the brand reported a 10 per cent increase in net sales in the last fiscal year, reaching a total of €2.359 billion.
Reebok has unveiled a new initiative in the field of digital fashion with its launch of 'Reebok Impact' on Instagram. Merging the world of sneakers with artificial intelligence, this innovative experience allows users to design personalised digital footwear.
The interactive platform invites Instagram users to embark on a creative journey by sending their photos via DM to @reebokimpact. Through real-time conversations with Futureverse's AI, users can design bespoke Reebok digital sneakers inspired by the colors and styles of their submitted images. Whether it's the iconic Pump, Classic Leather, or Club C models, individuals can select their preferred Reebok shoe and further customise it with AI-generated artwork.
This unique experience is offered at no cost for up to four digital sneaker creations. Users can then share their designs or opt to purchase them as game-ready files compatible with popular platforms like Unreal Editor for Fortnite (UEFN) and Roblox. These digital creations will also integrate seamlessly into various virtual experiences, including the highly anticipated AAA MMO game OPEN, developed by the minds behind Ready Player One.
Todd Krinsky, CEO, Reebok says, Reebok Impact is a groundbreaking initiative to engage a broader audience and revolutionise the digital fashion landscape.
Moreover, the platform enables users to discover incentives for real-life sneaker purchases, fostering deeper engagement and connection with the brand.
Shara Senderoff and Aaron McDonald, Co-founders, Futureverse, view Reebok Impact as the beginning of a journey that sets the future of fashion by merging personal expression with AI-driven innovation.
The government has set an ambitious goal of reaching $100 billion in textile exports by 2030, and is taking targeted measures to address the challenges hindering growth, says Rachna Shah, Textile Secretary.
During April 2023-March 2024, India's textiles and apparel exports declined by 3.24 per cent to $34.4 billion, compared to $35.5 billion in the previous fiscal year. Attributed in part to challenges like the Red Sea crisis, this decline underscores the need for strategic intervention.
Despite geopolitical complexities, Shah noted that some exporters have seen improvements in their order books in the first quarter, indicating a potential upswing in shipments in the coming months. To capitalise on this momentum, the government plans to concentrate efforts on products with high export potential, leveraging schemes like the production linked incentive (PLI) scheme.
Furthermore, Shah emphasised exploring new markets and maximising the benefits of free trade agreements (FTAs) to expand India's textile exports. While acknowledging the competitive advantages of countries like Bangladesh and Vietnam in the global garments trade, Shah expressed optimism about India's ability to regain momentum, buoyed by improving global demand and positive early indicators in the sector.
With Bangladesh slipping from the fifth to the tenth position among its largest export destinations between fiscals 2023-2024, India's export landscape has undergone a significant transformation. Coupled with fears of payment defaults, this decline stems from the substantial forex crisis being faced by Bangladesh currently.
During FY24, India’s merchandise exports to Bangladesh declined by 9.5 per cent Y-o-Y to $11.06 billion from $12.22 billion in FY23. As per industry experts, these exports are expected to decline further in the current fiscal year. Despite being a significant trade partner for India, exporters are exercising autonomy in their commercial decisions. They are adapting to the situation by redirecting goods typically destined for Bangladesh to alternate markets and exploring new destinations.
Acknowledging the need to offset the export deficit resulting from Bangladesh's forex crisis, the government is strategising to tap into other markets. India's exports to Bangladesh have plummeted from over $16 billion in 2021-22 to around $11 billion in 2023-24, necessitating a shift in focus towards other potential markets.
The second collaborative collection by Levi’s and ERL features a range of reimagined denim pieces infused with ERL's nostalgic, playful style. Inspired by the skate and surf culture of Venice, Calif, the capsule collection merges Levi’s iconic denim designs with a retro flair.
The collection includes a bootcut jean, vest, overall, dress, and purse, all adorned with various light washes that evoke a sun-faded aesthetic. Each piece showcases co-branded accents and distinctive stitching.
Taking cues from a vintage '70s Levi’s silhouette, the vest is treated to a washed-out effect and triple-lined with a shaggy sherpa finish at the hem. Featuring burnished tin shanks, zigzag stitching along the back and side seams, and ERL embroidery on the front panel, the vest exudes a unique charm.
The dress features a row of shanks down the front, complemented by a straight hem, zigzag stitching at the side seams, and convenient inseam pockets, with the ERL logo stamped at the bottom.
With a wide, baggy leg adorned with pintuck side striping, the overall offers a simplified design, omitting the front pocket and featuring tonal zigzag stitching along the center seam. ERL embroidery accents the left leg, while a hammer loop adorns the right.
Blending ERL’s relaxed fit with Levi’s classic 517 style, the bootcut jean boasts side seam slits for a subtle flare. Distressed detailing along the waistband and a white-printed Two-Horse Pull graphic add a contemporary touch.
Crafted with co-branded shanks, the purse mimics the design of a traditional 5-pocket jean, offering a unique accessory option.
This collaboration marks Levi’s second venture with ERL founder Eli Russell Linnetz, following their successful debut last fall. Photographed by Linnetz himself, the latest collection encapsulates the sun-kissed essence of Californian Americana. It is available through Levi.com, the Levi’s app, select Levi’s stores, and Dover Street Market.
Esteemed New York City-based brand celebrated by luminaries like Oprah, Beyoncé, and Selena Gomez, Telfar has launched a new collection titled, ‘Telfar Denim.’
Dubbed a ‘modular denim system,’ the collection includes a range of unisex garments, including jeans, shorts, skirts, and jackets. Each piece is meticulously crafted with unique features, such as three-panel segmentations, frayed cutout thighs, and deep pockets, ensuring both style and functionality. Custom hardware and debossed leather patches add a touch of luxury to the collection.
One of the collection's standout features is its commitment to inclusivity. Telfar spent over two years perfecting the unisex fit, leveraging its TeflarTV platform to fit the garments on hundreds of diverse bodies. This dedication to diversity ensures that the collection is accessible to a wide range of individuals, with sizes ranging from 2XS to 2XL.
Moreover, Telfar is disrupting the traditional fashion calendar by eschewing the typical showroom system. Instead, the brand is ‘building a wardrobe block by block,’ emphasising longevity over fleeting trends. This approach reflects Telfar's vision to re-center apparel on its own terms and challenge industry norms.
Sustainability is also a key focus for Telfar. The collection features cotton and organic cotton denim in black and indigo washes, sourced responsibly to minimize environmental impact. By prioritising sustainable materials and manufacturing processes, Telfar ensures that its garments are not only stylish but also eco-conscious.
In terms of accessibility, Telfar is making strides to ensure that the collection is available to a wider community. By securing the right manufacturing and materials, the brand aims to cater to more than just seasonal shoppers, fostering a more inclusive and sustainable fashion landscape.
Telfar Denim is now available on the brand's website, with prices ranging from $110 to $240. With its innovative design, commitment to inclusivity, and sustainable practices, this collection solidifies Telfar's position as a trailblazer in the fashion world.
Vardhman has approved an ambitious plan to revamp and modernise its spinning and fabric business with an investment of approximately Rs 2,000 crore. The plan signifies the company's commitment to expand its operational capacity while embracing sustainability.
Currently, Vardhman has a capacity of 12.37 lakh equivalent spindles and an annual production of around 175 million meters of processed fabric. As part of its expansion strategy, the company plans to add approximately 50,000 equivalent spindles including 5,520 rotors and 17,000 spindles. Additionally, Vardhman aims to venture into the Technical Textiles sector and produce approximately 15 lakh meters of fabric per month.
In line with its commitment to sustainable practices, Vardhman is set to venture into Green Power generation, exploring avenues such as solar, wind, or hybrid projects. This move echoes the company's dedication to reduce its carbon footprint and embrace renewable energy sources. Furthermore, Vardhman aims to upgrade its IT systems to streamline operations and boost efficiency.
The ambitious expansion and modernisation plan is slated to be executed within the next two years. The project will help Vardhman unlock new business synergies and secure a competitive edge in the market. Additionally, these modernisation efforts will enable Vardhaman to drive productivity gains across various business operations.
Compared to the previous year, China's textile and apparel (T&A) exports declined by 3.12 per cent Y-o-Y to $23.934 billion in April 2024. Data from Chinese Customs shows, China’s textile exports declined by 2.36 per cent Y-o-Y to $12.190 billion, while garment exports decreased by 3.90 per cent Y-o-Y to $11.744 billion.
In the first four months of 2024, the value of China’s cumulative exports of textiles and clothing registered a modest increase of 0.58 per cent Y-o-Y to $89.836 billion over the same period in the previous year. Textile exports from January to April increased by 1.19 per cent Y-o-Y to to $44.28 billion compared to the corresponding months in 2023. Meanwhile, apparel exports remained steady at $45.55 billion during the same timeframe.
The fluctuations in export figures reflect the dynamic nature of the global textile and apparel market and underscore the need for continuous adaptation and innovation within China's textile industry to maintain its competitiveness on the international stage.
In Q1, FY’24, apparel imports by the US dropped by 7.14 per cent to 18.07 billion from 19.46 billion in the corresponding quarter of the previous year.
As per data from the Office of Textiles and Apparel (OTEXA), apparel imports by the US from Bangladesh declined by 17 per cent to $1.75 billion from $2.13 billion during Q1FY23, indicating a significant shift in sourcing preferences or market conditions.
Contrastingly, apparel imports from China, another heavyweight in apparel manufacturing, registred a marginal dip of only 0.71 per cent, reinstating China's dominance as the one of the major apparel supplier to the US.
Emerging as formidable competitor in the apparel industry, Vietnam recorded a modest increase of 0.91 cent in clothing exports to the US. This uptick signifies a growing reliance on Vietnam as a sourcing destination due to factors such as competitive pricing or manufacturing capabilities.
Similarly, Cambodia witnessed a notable surge of 11.13 per cent in clothing exports to the US. This trend was possibly driven by factors like favorable trade agreements or operational efficiencies within the Cambodian garment industry.
Conversely, US clothing imports from India declined by 8.79 per cent, indicating a potential challenge or shift in competitiveness within the Indian apparel sector vis-à-vis other sourcing destinations.
Overall, these fluctuations in apparel imports underscore the intricate dynamics of global trade relationships and the constant evolution of sourcing strategies within the highly competitive apparel industry.
Vardhaman Textiles unveiled its fourth-quarter financial results on May 9, 2024, showcasing resilience amidst market turbulence. Despite a slight dip in topline performance by 1.05 per cent year-over-year (YoY), the company witnessed a robust 26.36 per cent increase in profits. Quarter-on-quarter (QoQ) comparisons revealed a notable upswing, with revenue climbing by 5.58 per cent and profits surging by 25.19 per cent.
A closer look at operational metrics unveils a strategic tightening of expenses. Selling, general, and administrative expenses saw a significant 8.89 per cent decline sequentially, juxtaposed with a 7.1 per cent YoY uptick. Operating income surged impressively by 45.99 per cent QoQ and 33.74 per cent YoY, underlining the company's adept management amidst challenging economic conditions.
Earnings per share (EPS) stood at Rs 7.05 for Q4, marking a substantial 26.43 per cent YoY increase, reflecting positively on the company's bottom line growth trajectory.
Despite recent market volatility, Vardhaman Textiles has exhibited resilience in its returns, with a -3.07 per cent performance over the past week, while boasting a robust 14.71 per cent return over the last six months and a 10.54 per cent Year-to-Date (YTD) return.
Analyst sentiments remain predominantly bullish, with a consensus "Buy" recommendation as of May 11, 2024. Out of four analysts covering the company, two issued a "Strong Buy" rating, one a "Buy" rating, and one a "Sell" rating.
With a market capitalization of Rs 12343.43 Cr and a 52-week high/low of
Rs 475.5 & Rs 318.35 respectively, Vardhaman Textiles continues to navigate market challenges with a solid financial footing, positioning itself for sustained growth in the textile sector.
