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Aimed at boosting production, employment and exports in the textile industry, the Indian government has received investment proposals worth Rs 18,500 crore under the PM MITRA, informs Giriraj Singh, Union Textiles Minister.
With a total outlay of Rs 4,445 crore for 2021-28, the PM Mega Integrated Textile Region and Apparel (PM MITRA) plan, seeks to create large-scale, state-of-the-art industrial infrastructure across the textile value chain. The government has finalized seven locations for these parks. These include. Virudhnagar (Tamil Nadu), Warangal (Telangana), Navsari (Gujarat), Kalaburagi (Karnataka), Dhar (Madhya Pradesh), Lucknow (Uttar Pradesh), and Amravati (Maharashtra).
Each park is expected to attract Rs 10,000 crore in investments and generate approximately 300,000 direct and indirect jobs. The program aims to position India as a global textile hub by providing integrated ecosystems for manufacturers and exporters.
In addition to PM MITRA, the government is implementing schemes like the Scheme for Integrated Textile Park (SITP), Integrated Processing Development Scheme (IPDS), Production Linked Incentive (PLI) Scheme, and National Technical Textiles Mission (NTTM). Programs like SAMARTH, Silk Samagra-2, and National Handloom and Handicraft Development Programs are also in place to support artisans and small-scale businesses through skill building, technological enhancement, and marketing assistance.
To expand the handloom industry, the government provides assistance for raw materials, improved equipment, solar lighting, work sheds, product development, and marketing. Concessional loans under the weavers' MUDRA scheme and social security pensions are also offered to improve workers' welfare.
Through the PM MITRA Park scheme and related initiatives, the government anticipates a transformative impact on India's textile sector, driving substantial investments, creating employment opportunities, and enhancing global competitiveness.
Reshuffling its top management, LVMH has announced Damien Bertrand as the new deputy CEO of Louis Vuitton, while Pierre-Emmanuel Angeloglou will take on the role of deputy CEO role at Christian Dior Couture.
Frédéric Arnault, Son of LVMH's chairman, will succeed Bertrand as CEO of Loro Piana. This move underscores LVMH's strategy of developing executives from within, placing younger leaders in pivotal roles. Bertrand's return to Louis Vuitton reunites him with Pietro Beccari, CEO and his former colleague at Dior. Similarly, Angeloglou's move to Dior reunites him with Delphine Arnault, who previously worked with him at Vuitton.
Emphasizing on the importance of strong leadership for brand desirability, Bernard Arnault praised the vision and dedication of the promoted executives. This restructuring also impacts Fendi, where Angeloglou, previously CEO, will now focus on Dior. The search for his Fendi successor is underway, with Ramon Ros emerging as a potential candidate.
Angeloglou's appointment at Dior follows other recent high-profile additions, reinforcing Dior's status as a top luxury destination. At Loro Piana, Bertrand focused on enhancing brand image and product quality, contributing to its significant growth. Frédéric Arnault will continue this momentum, leveraging his experience from LVMH Watches.
Arnault's tenure at Tag Heuer, marked by innovation and strategic partnerships, showcases his leadership capabilities. His focus on streamlining operations and fostering collaborations, particularly with Formula 1, will be valuable at Loro Piana. This management shift highlights LVMH's commitment to internal growth and strategic leadership for its iconic brands.
Based on the input from state associations and trade sources, Cotton Association of India (CAI) has revised its cotton pressing estimate for the 2024-25 season by 645,000 bales to 29.53 million bales (170 kgs each).
The total cotton supply until the end of February 2025 is estimated at 27.576 million bales, comprising 22.357 million bales of pressings, 2.2 million bales of imports, and an opening stock of 3.019 million bales. Cotton consumption up to February 2025 is estimated at 14.2 million bales, while export shipments are estimated at 900,000 bales. The closing stock at the end of February 2025 is projected to be 12.476 million bales.
The CAI has also adjusted its total cotton supply estimate for the entire 2024-25 season to 35.549 million bales, a decrease of 245,000 bales from the previous estimate. This supply includes the opening stock, the revised pressing estimate, and estimated imports of 3 million bales. Notably, the estimated cotton imports are significantly higher than the previous year.
Domestic cotton consumption for the season remains unchanged at 31.5 million bales. However, the export estimate has been revised to 1.7 million bales, substantially lower than the previous season's estimate of 2.836 million bales. The closing stock at the end of the 2024-25 season is projected to be 2.349 million bales, lower than the previous year's closing stock.
Key points from the CAI Crop Committee meeting include: domestic consumption remains constant, cotton pressing estimates have been reduced due to lower-than-expected output in Gujarat and Maharashtra, import estimates have increased, export estimates remain low, and closing stock is projected to be lower than the previous year. The CAI will continue to monitor pressing numbers and make adjustments as needed.
Driven by the prospect of competitive pricing and diversified raw material sources, Bangladesh is exploring enhanced trade ties with Pakistan. While current trade favors Pakistan, with Bangladesh importing cotton, yarn, and fabrics, these volumes remain significantly lower than imports from China and India. Historically, strained relations have hindered Pakistan's emergence as a major sourcing hub.
Trade data reveals a substantial imbalance. In H1, FY25, Bangladesh's exports to Pakistan were $39.77 million, while imports reached $372.1 million. For FY24, exports totaled $61.98 million, and imports $627.8 million. Compared to China and India, Pakistan's contribution is minimal, accounting for only 1 per cent of Bangladesh's total imports.
Economists like Mohammad Abdur Razzaque emphasize on the need for diversified and competitive supply chains for Bangladesh's economic growth. He suggests, the country should focus on addressing tariff and non-tariff barriers, though he doesn't see an immediate need for a Free Trade Agreement (FTA). Business leaders such as Abul Kasem Khan and Mir Nasir Hossain highlight the potential for competitive pricing and diversified sourcing, particularly for cotton and denim fabrics.
A 2022 study by the Pakistan Business Council highlighted the trade imbalance and potential for increased Pakistani exports. To strengthen bilateral trade, the Pakistan-Bangladesh Joint Business Council was recently formed.
Md Hafizur Rahman, Administrator, FBCCI acknowledges the potential for increased trade, citing improvements in visa processes and the establishment of a direct shipping line. Bangladeshi textile manufacturers are diversifying their sourcing strategies, with Pakistan becoming a key cotton supplier. Showkat Aziz Russell, President, Bangladesh Textile Mills Association (BTMA), notes, the devaluation of Pakistan's currency has made its cotton more competitively priced, leading to increased imports. Despite past challenges, strengthened trade ties are expected to boost trade volumes between the two nations.
The Ministry of Commerce and Industry plans to develop three textile parks in Andhra Pradesh with an investment of over Rs 310 crore.
To be developed under the Scheme for Integrated Textile Park (SITP), these textile parks will be located in the Anantapuramu, Nellore, and Guntur districts. They will help stimulate investments, generate employment, and boost exports within the state's textile sector.
Announcing the development of these parks in the Lok Sabha, Jitin Prasada, Minister of State for Commerce and Industry, emphasized the central government's commitment to supporting the state’s industrialization through various initiatives.
The three upcoming parks include the Hindupur Vyapar Apparel Park in Anantapuramu, the Tarakeswara Textile Park in Nellore, and the Guntur Textile Park in Guntur. Each project has been allocated specific funds: $11.72 million (Rs 102.27 crore) for Anantapuramu, $11.86 million (Rs 103.44 crore) for Nellore, and $12.05 million (Rs 105.12 crore) for Guntur. The Brandix India Apparel Park in Visakhapatnam, developed under a similar scheme, has already been completed with an investment of $15.41 million (Rs 134.41 crore).
Additionally, the Ministry of Micro, Small, and Medium Enterprises is implementing the Micro and Small Enterprises Cluster Development Program nationwide, with Andhra Pradesh receiving a grant of $5.69 million (Rs 49.66 crore) for infrastructure projects in the FY25, informed Prasada.
Furthermore, the central government has approved three industrial projects in Andhra Pradesh under the National Industrial Corridor Development Program. The National Industrial Corridor Development and Implementation Trust has disbursed over $61 million (Rs 531.36 crore) in the past five years to support these projects.
Softening consumer demand led to American Eagle Outfitters (AEO) signaling a cautious outlook for the new fiscal year despite the company reporting a significant rise in profits during Q4, FY25.
In Q4, FY25, AEO’s net income increased to $104.3 million from $6.3 million in the same period last year. The previous year's results were significantly impacted by $131 million in impairment and restructuring charges.
However, AEO’s revenue for the quarter ending February 1, 2025 decreased by 4.4 per cent Y-o-Y to $1.6 billion from $1.7 billion last year. This discrepancy was attributed to an extra week in the prior year's reporting period. When adjusted for this extra week, comparable sales actually rose by 3 per cent, building on an 8 per cent increase from the previous year. This growth was driven by a 6 per cent increase in comparable sales at the Aerie division and a 1 percent increase at the American Eagle business.
Highlighted the progress made on the company's ‘Powering Profitable Growth’ strategic plan, Jay Schottenstein, Executive Chairman and CEO, AEO emphasized on the team's strong operating profit growth, positive momentum across brands and channels, and disciplined expense management.
For the full fiscal year, AEO's revenue increased by 1.3 per cent to $5.33 billion from $5.26 billion. Looking ahead, the company anticipates a low single-digit decline in revenue this fiscal year.
Schottenstein acknowledged a slower-than-expected start to the first quarter, citing weaker demand and colder weather. While expecting improvement as the spring season progresses, AEO is taking proactive measures to boost revenue, manage inventory, and reduce expenses.
Zara’s parent company, Inditex plans to invest €1.8 billion this year in store refurbishments, technology, and online platform improvements, maintaining its 2024 capital spending level.
Despite meeting analysts expectations and reporting 10.5 per cent in currency-neutral sales for the year to €38.6 billion, the company reported only 4 per cent growth in Q1, FY25 compared to 11 per cent growth registered a year earlier.
This slower start has raised concerns among analysts, who had predicted higher growth. William Woods, Analysts, Bernstein noted, despite Inditex reporting a 7 per cent sales increase in the most recent week, the company needs to accelerate significantly to meet expectations.
According to a few analysts, Zara's recent success may have been boosted by consumers trading down from higher-end brands during the cost-of-living crisis. Jelena Sokolova, Morningstar believes, this trend may not continue at the same pace.
Committed to profitable growth, Inditex reported a 9 per cent increase in net profit to €5.9 billion in 2024. Oscar Garcia Maceiras, CEO emphasized on the solidity of the company's growth.
The company continues to invest in logistics, with it set to open a new distribution center in Zaragoza this summer. Inditex also plans to open its first stores in Iraq. Its brand Bershka will launch in Sweden while Oysho will debut in the Netherlands and Germany.
Currently available at Walmart, a new jean range by Wrangler demonstrates the growing mainstream appeal of circular supply chain practices.
Launched by Kontoor Brands, the Wrangler x Accelerating Circularity jean range is available in black and indigo shades. This men's straight-fit jean is made using mechanically recycled post-consumer and post-industrial cotton. Priced at $39.99, the jean incorporates 26 per cent recycled cotton, along with virgin cotton and elastane for added stretch.
A nonprofit dedicated to scaling textile-to-textile recycling systems, Accelerating Circularity emphasizes, collaborating with Wrangler allows the firm to set a new standard for post-consumer recycled content in commercially available denim.
The Wrangler x Accelerating Circularity collection was developed through collaboration across the textile supply chain, involving companies committed to sustainability. Bank & Vogue handled the collection of post-consumer waste, while Martex collected post-industrial waste. Giotex and Estopas performed the mechanical recycling. Parkdale Mills produced the yarns, and Cone Denim manufactured the fabrics.
As part of Accelerating Circularity's US-based trials, 23 tons each of post-consumer and post-industrial cotton were successfully recycled. In future, the organization aims to recycle 325 tons of post-consumer cotton, polyester, and man-made cellulosic materials.
Marking a significant evolution for the event founded by Emmanuelle Rienda, Vegan Fashion Week has rebranded itself as the Ethical Luxury Summit, Held in Los Angeles from March 10-12, 2025, the summit’s latest edition focused on ethical fashion and sustainable luxury, attracting a diverse audience including celebrities and industry professionals.
Rienda emphasized the shift, noting that the summit now encompasses broader ethical practices, reflecting the growing industry focus on sustainable materials and responsible production. The event's ‘Golden Hour Fashion Show’ featured collections from Ecole Duperré designers, highlighting the school's commitment to sustainable fashion practices. Mathieu Buard, Director of the school, explained their long-standing use of recycled fabrics.
Designer Victor Clavelly's avant-garde, alien-inspired silhouettes captivated the audience, while Guy Chassaing showcased intricate designs crafted from recycled wool scraps. The Moroccan collective Label Oued presented a vibrant collection, collaborating with Balmain to create pieces that blended Moroccan heritage with Californian style.
The summit also included panel discussions on topics such as the relationship between luxury and ethical practices, the role of AI in fashion, and the importance of artisanship. An ethical designer gallery featured brands like Tanaka, showcasing upcycled designs, and Carter Wade, known for bags made from plant-based fibers. De Florencio presented streetwear made from dead stock, while Atelier 7474 displayed haute couture pieces, including reworked tutus, made from dead stock materials.
Vegan footwear brand Zingales showcased its sustainable shoes, highlighting the use of innovative, non-petrochemical materials. The summit concluded with a fundraising gala, featuring vegan culinary delights, underscoring the event's dedication to ethical and sustainable practices within the luxury fashion industry.
United Legwear & Apparel Co. (ULAC) has appointed Tony Lucia as the new President of ULAC Europe BV, overseeing their European and UK subsidiaries. Reporting to Cyril Hottot, CEO, ULAC, Lucia will lead sales efforts for brands like Scotch & Soda, Ted Baker (e-commerce), Hurley, and Skechers.
With this appointment, ULAC aims to to expand its presence in the UK and EU markets, focusing on increased sales across both physical stores and online platforms. The company aims to strengthen consumer engagement and drive innovation throughout its operations.
Having an extensive experience with global brands such as Armani, Hugo Boss, Escada, and G-Star Raw, Lucia will prove to be key asset for the company's growth, asserts Hottot.
Founded by Isaac Ash, ULAC is a global designer, manufacturer, and distributor of various apparel and accessory products. The company has collaborations with may reputed firms including a joint venture with Puma North America and distribution agreements with Scotch & Soda, Hurley, and Ted Baker. ULAC also holds licenses for well-known brands like Skechers, Van Heusen, DKNY, Champion, Arrow, and Weatherproof, and owns the Pro Player and Lemon brands. Additionally, ULAC develops private-label brands for major retailers.
