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Kraig Biocraft Laboratories, Inc, a leader in spider silk-based fiber development, announces the receipt of a new investment license in Vietnam. This marks a major step in the Company’s efforts to scale up its production to meet increasing global demand for its cutting-edge spider silk materials.
The investment license enables Kraig Labs to significantly expand its production capabilities and respond to the growing number of inquiries for its high-performance fibers. The expansion will serve various markets, including textiles, defense, and medical sectors, all of which are eager for the availability of these breakthrough materials.
Founder and CEO Kim Thompson expressed excitement about the license, stating, "This is a crucial milestone in our journey towards cost-effective spider silk production. The license solidifies our commitment to scaling production and fulfilling demand."
Kraig Labs plans to develop advanced rearing facilities in Vietnam as part of its growth strategy. The Company remains dedicated to eco-friendly practices, ensuring that its innovative materials are not only strong and lightweight but also sustainable.
This investment marks a significant move forward in Kraig Labs’ vision to revolutionize material science with one of the 21st century's most impactful biomaterials.
Gildan, a leader in affordable, quality apparel, is excited to present its latest products at the Impressions Expo Long Beach, California. The company will showcase innovations from its renowned brandsGildan, Comfort Colors, American Apparel, and Championwith a focus on new collections, live printing demonstrations, and sneak peeks at 2026 styles.
Emma Budzisz, Vice-President of Marketing at Gildan, emphasized, "The innovations we're introducing strengthen our position as the top choice for decorators, supporting our growth through our Gildan Sustainable Growth strategy."
Gildan introduces an innovative Plasma Print Technology, enhancing the direct-to-garment printing process with softer fabrics, brighter colors, and improved print consistency. The brand's Light Cotton collection incorporates Soft Cotton Technology for added comfort, softness, and durability. New additions to the collection include styles like the 3000 and 3000B, while Gildan expands the Hammer Maxweight and SoftstyleMidweight Fleece collections.
Comfort Colors, celebrating its 50th anniversary, adds new colors to the popular 3023CL and 6030 styles, as well as new youth options and a cozy Fleece Dorm Blanket. A preview of 2026 collections will reveal fresh women's silhouettes.
American Apparel continues its premium offerings with new colors in the 2001 and 2001CVC styles and the introduction of a Super Heavyweight collection for an oversized street-style fit. The brand also features its Logo collection, exclusive on Amazon.
Champion, now under a licensing agreement for the printwear channel, unveils athletic apparel with bold, authentic styles, including a wide range of t-shirts, sweatshirts, and more.These brand innovations promise to support decorators and meet growing industry demands.
The European Union's stringent sustainability regulations are reshaping the apparel and textile industry. To help professionals adapt to these changes, Testex and FutureWear Group GmbH have introduced the Testex Academy, a cutting-edge educational platform. This initiative aims to equip industry leaders with the tools and knowledge required to thrive in the evolving regulatory landscape.
The Academy’s first certification program offers an eight-hour curriculum tailored for professionals across key roles, such as sustainability management, regulatory compliance, and supply chain operations. Delivered through weekly modules, the program ensures participants can integrate their learning into daily workflows. It combines assessments and guided reflections, making it ideal for onboarding new managers and upskilling experienced professionals.
Led by experts and auditors from Testex and FutureWear Group, the program provides a unique blend of theoretical knowledge and actionable insights. Participants will gain access to exclusive interviews, case studies, and practical strategies focused on driving sustainability, ensuring compliance, and fostering sustainable supply chains.
Key benefits include mastering EU sustainability regulations, accessing content from industry leaders, and earning a recognized Testex Academy Certificate to enhance professional credentials.
This comprehensive certification program is designed to empower decision-makers to navigate the complexities of sustainability regulations while securing a competitive edge in the EU market.
Puma is facing challenges as sales of its newly launched Speedcat shoes, inspired by motor racing, have fallen short of expectations. This comes amidst a rise in popularity for Adidas' retro Samba soccer trainers, dominating the market.
With bewer brands like On Running and Hoka rapidly gaining market share, the sportswear industry is undergoing a seismic shift, chipping away at the dominance of giants like Nike. This increased competition is intensifying the fight for shelf space at major sporting goods retailers.
Puma's recent financial performance reflects these challenges. The brand’s Q4, FY24 sales grew by 9.8 per cent, falling short of analyst expectations of 12 per cent. Its net profit for the year declined to €282 million ($293 million) from €305 million, primarily due to increased interest payments on debt.
To address these challenges, Puma has initiated a cost-cutting program aimed at boosting its EBIT margin to 8.5 per cent by 2027, up from 7.1 per cent in 2024. However, Barclays analysts warn, this could divert management's attention from crucial sales growth initiatives.
Puma now faces the daunting task of navigating a highly competitive market while simultaneously improving its profitability. The success of its cost-cutting measures and the ability to reignite sales growth will be critical to its future success.
Levi Strauss & Co (LS & Co) recently revised its projections for revenue growth for the current fiscal year. The company anticipates revenues will rise by approximately 1 per cent this fiscal compared to the previous guidance of 1 per cent to 3 per cent.
This updated forecast follows the company's October trading update, where it narrowed its full-year revenue outlook to the lower end of the previous range, raising concerns about softening demand for its apparel.
The denim giant recently appointed Artemis Patrick, President and CEO, Sephora North America, to its board of directors, effective February 1, 2024. Patrick will also join the audit and nominating, governance, and corporate citizenship committees, effective March 1, 2024.
With an experience of over 19 years at the LVMH-owned Sephora, Patrick brings a wealth of experience to LS & Co. In her current role, she oversees the strategy, vision, and financial performance of Sephora's US and Canadian operations.
A proven leader with a strong track record in merchandising, brand building, and e-commerce, Patrick’s expertise will prove invaluable to LS & Co as the company strengthens its position in the retail and apparel industries and enhances its omnichannel retail capabilities, says Bob Eckert, Chairman, Board of Directors, LS & Co.
As the Cotton Corporation of India (CCI) increases its cotton purchases this year due to low market prices, spinning mills in Gujarat are urging the corporation to launch a depot sale scheme starting March 2025. Spinners believe this scheme is crucial for price stability, and will help small and medium-sized enterprises (MSMEs) operate smoothly.
Jayesh Patel, Senior Vice President, Spinners Association Gujarat says, Indian cotton is currently the most expensive compared to global benchmarks like Brazilian, American, and African cotton. These high prices have been preventing spinners from stocking Indian cotton for the past 28 months. While CCI's MSP purchases support farmers, the Corporation needs to implement a depot sale scheme to stabilize the market, he adds.
In recent years, higher cotton prices have driven spinners towards open market purchases, notes Patel. However, with CCI expected to stock 35-50 per cent of Gujarat's cotton crop this year, the the depot sale scheme will help stabilize market prizes and support MSME mills facing stock shortages, he explains.
Further emphasizing on the importance of transparent communication regarding CCI's stock levels and any strategic decisions that may impact the depot sale scheme's implementation, Patel says, timely access to this information will prevent market speculation and foster a more transparent business environment for members of the association.
Finland-based Spinnova, renowned for its patented technology that creates textile fiber from wood pulp and waste materials like leather and agricultural waste without harmful chemicals, has joined the International Textile Manufacturers Federation (ITMF) as a corporate member. Spinnova’s mechanical process produces fibers resembling natural cellulosic materials like cotton, offering an eco-friendly solution for the industry.
Christian Schindler, Director General of ITMF, welcomed Spinnova, emphasizing its role in enhancing sustainability and fostering circular textile economy solutions. "At ITMF, established companies collaborate with innovative start-ups, driving valuable discussions and partnerships," he noted.
Lasse Holopainen, Spinnova’s Chief Revenue Officer, highlighted the significance of joining ITMF to expand their global network, exchange industry insights, and navigate the textile sector's evolving dynamics. "Being part of an international platform like ITMF connects us with members from across the textile value chain," Holopainen stated.
Spinnova’s membership aligns with ITMF’s mission to promote sustainable practices in the global textile industry.
Driven by a bearish outlook from the US Department of Agriculture's (USDA), the World Agricultural Supply and Demand Estimates (WASDE) report projects a significant increase in global cotton production and ending stocks for the 2024-25 crop year.
As per the report, global cotton production is forecast to rise by 1.2 million bales to 117.4 million bales, primarily fueled by larger harvests in India and Argentina. However, a sharp 43 per cent decline in raw cotton (kapas) arrivals in North India through November 30 has created a raw material crunch for ginners and spinners. The Cotton Association of India (CAI) estimates domestic cotton consumption for 2024-25 at 313 lakh bales, with pressing estimates remaining unchanged at 302.25 lakh bales.
India's cotton imports are expected to rise by 9.8 lakh bales to 25 lakh bales. By November 30, approximately 9 lakh bales had already arrived at Indian ports. Ending stocks for 2024-25 are projected to decline to 26.44 lakh bales from 30.19 lakh bales last year.
Globally, the December estimate for US all-cotton production was revised upward to 14.3 million bales, while world production increased to 117.4 million bales. World consumption is projected to rise by 570,000 bales, led by increased demand in India, Pakistan, and Vietnam, offsetting a decline in Chinese consumption. Global cotton exports are expected to increase slightly, with notable growth in Brazil, Benin, and Cameroon.
Bangladesh's textile industry is facing a crisis as imports, particularly from India, are rising. In 2024, the country’s cotton yarn imports increased by 39 per cent to $2.28 billion, while fabric imports rose by 38 per cent to over $2.59 billion. This is putting a significant strain on local textile mills, despite recent investments to enhance production capacity.
With garment manufacturers increasingly favoring cheaper imports, citing price competitiveness, local mills are struggling to compete due to rising production costs and reduced government incentives for using local yarn. For example, MB Knit Fashions saves over $200,000 by importing yarn from India instead of sourcing locally, despite government incentives.
Concerns are been raised about the illegal import of yarn through smuggling. Additionally, textile mill owners allege that Indian exporters benefit from substantial government subsidies, enabling them to sell yarn at dumping prices. They are urging the government to impose anti-dumping duties on imports from India.
Experts argue, long-term support for the textile industry through taxpayer money is unsustainable. Instead, they suggest focusing on reducing business costs for local mills, such as logistics, port, banking, and customs costs, to enhance their competitiveness.
The rise in imports is threatening the viability of the domestic textile industry and may have significant negative impacts on Bangladesh's economy, warn experts.
Poised for a robust, the global hosiery market is set to expand at CAGR of 2.9 per cent from 2025-30 to reach a projected value of $51.14 billion by 2030.
According to a new market analysis report, the sector's expansion is being fuelled by increasing consumer preference for apparel combining functionality and fashion, alongside the growing demand for hosiery in health, fitness, and professional applications.
A key factor driving this market growth is the increasing use of hosiery products among individuals dealing with varicose veins and other leg disorders. The compression and support offered by these products help manage circulation issues, making them a preferred choice for many.
In addition, the rising global fitness movement is boosting demand for hosiery as a workout essential. Fitness enthusiasts and athletes are turning to hosiery for its comfort and performance-enhancing properties. This trend is particularly pronounced in developing countries such as China, India, South Korea, Brazil, and Mexico.
Manufacturers are focusing on innovation to meet evolving consumer demands and stay ahead in a competitive market. For instance, designed for sub-6°C temperatures, Stolen Goat’s winter and wet tights have been widely appreciated for their practicality and comfort.
Particularly favored by sports persons, medical professionals, and working individuals owing to their durability and practicality, the non-sheer segment held an impressive 85.1 per cent share of the global market in 2024.
Women remain the largest consumer group in the hosiery market, with strong demand driven by a focus on personal and professional presentation. However, male consumers are also increasingly adopting hosiery, not only for health reasons but also for its aesthetic appeal. The men’s hosiery segment is anticipated to grow at a CAGR of 4.5 per cent during the forecast period.
In the coming years, the Asia Pacific region is expected to witness the fastest growth, driven by improving living standards and rising disposable incomes in countries such as China and India.
Leading manufacturers such as Hanesbrands, Golden Lady, Gildan Activewear, and Spanx, Inc. are driving growth in this segment through continuous innovation and targeted product development. As the market evolves, the hosiery industry is expected to see sustained growth, supported by its ability to adapt to shifting consumer preferences and emerging lifestyle trends.
