FW
In a dynamic synergy between Scott Racing Team and three industry-leading companies uniform for the 2024 season emerges, blending innovation, sustainability, and unparalleled performance. This collaborative effort underscores a shared commitment to excellence, with each entity bringing its expertise to the forefront of sports apparel design.
At the heart of this partnership lies the relentless pursuit of superior performance. The 2024 uniform, meticulously crafted in collaboration with Sitip, showcases a fusion of cutting-edge technology and advanced materials. Sitip's renowned fabrics, infused with Roica by Asahi Kasei's premium stretch yarn, redefine sportswear standards, offering athletes unrivaled comfort, breathability, and durability.
The incorporation of Roica yarn introduces a new dimension of functionality to the uniform, with properties such as color retention, resistance to wear, and ease of maintenance. This innovative approach ensures that athletes can focus solely on their performance, without compromise.
Notably, Sitip's dedication to sustainability further elevates the uniform's appeal. With a comprehensive range of certifications and a commitment to reducing environmental impact, Sitip sets a new standard for eco-conscious manufacturing in the sports apparel industry.
The partnership extends beyond technical excellence, encompassing a shared ethos of responsibility and ethics. Sitip's Sustainability Report, alongside a multitude of corporate certifications, underscores the company's unwavering commitment to ethical practices and environmental stewardship.
Rosti knitwear, renowned for its technical prowess and Italian craftsmanship, rounds out the collaboration with its unwavering dedication to product excellence. The renewal of this partnership reflects a mutual commitment to innovation and quality.
For Ivano Camozzi, President of the Scott Racing Team, the 2024 season represents a reaffirmation of the team's winning legacy. With the support of esteemed partners, the team remains poised to uphold its tradition of excellence, driven by innovation, sustainability, and unwavering commitment to performance.
In essence, the unveiling of the 2024 uniform marks a pivotal moment in the evolution of sports apparel, where cutting-edge technology, sustainability, and performance converge to redefine the boundaries of athletic excellence.
Spinnova Plc and Suzano S.A. have solidified their collaboration with the signing of a Letter of Intent (LOI) aimed at establishing a new production facility for wood-based Spinnova fiber. The LOI outlines plans for Suzano to assume ownership and operation of the facility, with a projected annual capacity of 20 thousand tonnes of fiber. Likely to be situated close to an existing Suzano pulp mill, the facility represents a significant step towards expanding the production of sustainable fiber materials.
The non-binding LOI delineates key criteria for advancing into the pre-engineering phase of the facility's development, including preliminary terms and conditions. Notably, Suzano will spearhead the effort to secure funding for the project, alleviating the need for Spinnova to raise capital. This strategic move allows Spinnova the flexibility to explore potential investments in future plants independently.
Since 2020, Spinnova and Suzano have been collaborative partners in Woodspin, an entity focused on advancing wood-based Spinnova fiber technology. The successful operation of Woodspin's inaugural production facility in Jyväskylä, Finland, serves as a testament to the viability of Spinnova's innovation and Suzano's expertise in textile MFC technology.
The forthcoming pre-engineering phase, slated to commence in the latter half of 2024, hinges on several factors, including the delivery of a Process Design Package (PDP) by Spinnova and strategic approval from Suzano. Additionally, meeting specified process and fiber metrics at the Woodspin facility is deemed crucial.
Tuomas Oijala, CEO of Spinnova, expressed enthusiasm for the partnership's potential to scale fiber technology and achieve large-scale industrial production. Meanwhile, Christian Orglmeister, Suzano's Executive Officer for New Business, Strategy, IT, and Digital, emphasized the company's commitment to expanding Spinnova fiber production capacity, leveraging existing infrastructure, and fostering synergies to drive business growth.
The collaboration between Spinnova and Suzano signifies a significant milestone in advancing sustainable fiber production, underscoring their shared vision for innovation and environmental stewardship.
Led by General Zhang Tao, Vice President and Secretary General, a delegation from the Sub-Council of Textile Industry, China Council for the Promotion of International Trade (CCPIT), met Faruque Hassan, President, Bangladesh Garment Manufacturers and Exporters Association (BGMEA), to discuss a potential collaboration to elevate Bangladesh’s apparel industry on the global stage by organising international exhibitions.
The delegation was accompanied by Wu Zhizhen, Deputy Director, and Jiao Jiao, Assistant Director, Sub Council of Textile Industry, CCPIT. Leo Zhuang, Managing Director of Liz Fashion, was also present at the meeting.
The parties delved into showcasing the strengths of Bangladesh’s Ready-Made Garment (RMG) industry, highlighting its enhanced capabilities in manufacturing complex and high-end fashion products. Additionally, they discussed the Sub-Council of Textile Industry, CCPIT's role in facilitating investments in Bangladesh's non-cotton textile sector, as the country’s apparel sector is increasingly diversifying towards higher-value garments, especially those made using man-made fibers.
Hassan provided insights into the impressive transformation of Bangladeshi garment factories, emphasising advancements in safety, dynamism, modernisation, energy efficiency, and environmental friendliness.
The youthful brand under the Hugo Boss umbrella, Hugo unveiled Hugo Blue, its latest denim-focused line for Gen Z and younger consumers on March 06, 2024 in Berlin. The debut featured a spectacular launch event attended by approximately 1,000 guests.
Attendees at the event explored the inaugural collection of Hugo Blue and immersed themselves in its vibrant world. The experience seamlessly blended inspiring product installations with a diverse array of entertainment and gaming elements.
Despite having initiated the Hugo x Replay jeans capsule collaboration with Replay in October 2022, the German fashion powerhouse opted to launch its standalone brand, encompassing menswear, womenswear, and all-gender pieces.
The collection showcases bold logo details and various shades of blue denim, with a primary focus on denim essentials and streetwear, including printed t-shirts, hoodies, tops, shorts, pants, and outerwear.
The key looks were creatively presented through three distinct ‘closets,’ featuring playful inflatables, denim walls, and large LED panels. A ‘Customisation Zone’ allowed local artists Rafaella Braga and Max Teutsch to personalize guests' Hugo Blue pieces live, adding a unique touch to each item.
Additionally, each participant received a Hugo Blue denim tote bag, while selected VIP guests were treated to a teaser in the form of a denim jacket with an iron-on flower patch and an integrated NFC chip, offering an immersive Hugo Blue experience on Snapchat. The event also marked the introduction of Planet Hugo, an ecosystem of connected experiences on Roblox, a leading platform for communication and connection.
The launch showcased the first two 3D environments of Planet Hugo—Hugo Hangout and Hugo Fashion Match—in a gaming zone, displaying different immersive spaces simultaneously on multiple screens. Nadia Kokni, SVP- Global Marketing and Brand Communications, Hugo Boss, highlighted the event's focus on activating gaming and the metaverse as cultural focal points.
Despite the positive momentum, Gap anticipates that fiscal 2024 net sales will remain flat compared to $14.89 billion in 2023, contrary to analysts' expectations of a 0.48 per cent rise.
In Q4 FY24, Gap’s comparable sales increased by 4 per cent while those of Old Navy experienced a 2 per cent growth. However, sales of the brands Athleta and Banana Republic declined by 10 per cent and 4 per cent respectively.
Gap reported net sales of $4.30 billion, a 1.3 per cent increase surpassing estimates of $4.22 billion during the quarter. Additionally, the company reported a profit of 49 cents per share, outperforming estimates of 23 cents per share.
Gap's gross margin surged by 38.9 per cent, a substantial increase of 530 basis points, driven by lower supply-chain costs related to freight and manufacturing, as well as controlled promotions and price adjustments on select products like leggings and skinny jeans.
The company's forecast suggests that the process of enhancing product assortments, particularly at Athleta and Banana Republic, may take longer than initially anticipated.
Richard Dickson’s CEO, strategic initiatives to revitalise Gap's brands, particularly Old Navy, have successfully attracted consumer interest in its apparel and accessories. The company had witnessed a decline in sales over the past few quarters as customers shifted towards competitors like Amazon.com and Shein, which offer diverse product assortments.
A leading Finnish fashion and textile technology firm, Infinited Fiber Company has successfully concluded a €40 million funding round with investments from prominent new investors such as Inditex, TTY Management, Youngone, and Goldwin, alongside existing backers.
This marks the second round of investments for the company, following the initial closure in the summer of 2023, which saw H&M Group, Adidas, Bestseller, and Zalando join forces with investment entities VTT Ventures, Security Trading, and Nidoco AB.
Petri Alava, Co-founder and CEO, highlighted the pivotal role of this investment in advancing the scale-up of Infinna, the company's flagship product. Alava emphasised that the industry's confidence in their technology solidifies it as a key driver for circularity in the textile sector.
The new investors represent heavyweight entities in the retail domain. TTY Management, owned by Tadashi Yanai, the influential figure behind Fast Retailing, which oversees brands like Uniqlo, Theory, J Brand, and Comptoir des Cotonniers, stands out among them.
Inditex, the parent company of Zara, has unveiled ambitious sustainability targets, aiming to accelerate emission reductions. The strategy entails slashing scope 1 and 2 emissions by 90 per cent from a 2018 baseline, while reducing value chain emissions (scope 3) by 50 per cent of 2018 levels. The company has set the ambitious goal of achieving ‘net zero’ emissions by 2040, intending to utilise offsets to tackle the remaining 10 perc ent of emissions that are challenging to eliminate.
Infinited Fiber Company specialises in Infinna, a revolutionary cellulosic fiber derived entirely from textile waste. Resembling cotton in look and feel, Infinna serves as a sustainable alternative for crafting various apparel items, including T-shirts, jeans, blouses, dresses, hoodies, and more. With the support of these investors, Infinited Fiber Company aims to further its mission of promoting sustainability within the fashion and textile industry.
In a groundbreaking move following their December partnership and exclusive preview in Europe and Japan, Lee and Diesel have announced the global availability of their revolutionary Dieselves Lee capsule collection.
These two denim giants, traditionally seen as competitors, have joined forces to craft a collection of jeans entirely fashioned from fabric sourced from both brands’ unsold stock. Each pair is artisanally conceived and meticulously crafted to celebrate differences in length and rise.
Every Dieselves Lee Jean is a unique blend, with Diesel denim on one side and Lee denim on the other. Simon Fisher, Managing Director, Lee-Europe says, this capsule collection redefines competition and places innovation at the forefront. By merging their strengths, the two brands have set a new standard, one denim at a time.
This collaboration symbolises the unifying power of denim in harmony with both brands' dedication to fostering unity.
Through this collaboration, Lee and Diesel have also reaffirmed their commitment to innovation and sustainability, inspiring change in the fashion industry and beyond.
Over 1,000 international exhibitors are expected to showcase their products at the upcoming ITM, Turkey's premier textile machinery exhibition, to be held from June 04- 08, 2024, at the Tuyap Fair and Congress Center in Istanbul.
Few of the premier exhibitors at the trade fair will include Oerlikon’s Polymer Processing Solutions division, its joint venture partner BB Engineering and Oerlikon Barmag Huitong Engineering.
The presentations of these companies will encompass complete solutions from melt to yarn, fibers, and nonwovens, emphasising the harmony and quality ensured by their integrated technology. They will unveil concrete sustainability strategies, celebrating the 20th anniversary of their e-save sustainability label introduced in 2004.
André Wissenberg, Head -Marketing, Corporate Communications, and Public Affairs, underscores Oerlikon’s commitment to profitable and sustainable growth, reflecting their ethos of performance, quality, sustainability, and commitment.
Mechanical recycling offered by the company, led by OBHE homogenizer technology, focuses on PET waste, ensuring uniform melts for further processing.
BB Engineering's VacuFil system complements the effort by recycling post-consumer and post-production polyester waste with consistent quality.
Oerlikon's prowess in digitalisation, epitomised by the Plant Operation Center (POC), will be upgraded with atmos.io, allowing for enhanced data processing and customer control over their business operations.
The Las Vegas Convention Center hosted Sourcing at Magic Las Vegas from February 13-15, 2024, attracting 800 exhibitors representing 40 countries, including African nations, Brazil, China, and the United States.
The event showcased a diverse array of offerings, ranging from technology suppliers and service providers to manufacturers, industry experts, and nonprofit organisations. With a focus on entrepreneurship, sustainability, and social good, the event featured verified-sustainable exhibitors.
Richard Jessup, Vice President-Sales, Optitex, a Tel Aviv-based company specialising in 2D pattern making and 3D avatars, was surprised by the presence of global companies of the show.
Among the first-time exhibitors was jellibeans, an AI-powered design-to-production collaboration and intelligence platform based in Los Angeles. Brian Marsh, Co-founder and COO emphasised their aim to help users identify and forecast trends while enabling them to monetize their passion for fashion.
Stratasys, an Israel-based 3D printing giant, made its Sourcing debut, showcasing its ability to directly print 3D designs onto fabric. Colton Mehlhoff, Manager-Applications Engineer, highlighted the company's capability to achieve designs not feasible with other techniques, particularly suitable for high-end brands like Dior, Louis Vuitton, and Alexander McQueen.
Hong Kong-based quality-control service provider QIMA offered rapid on-the-ground inspection and auditing services worldwide, ensuring compliance with international labor laws and regulations. Dory Lanenter, Senior Business Development Manager, emphasised their client-focused approach and technological efficiency.
Emphasising his focus on the buyer’s perspective, Andreu David, Vice President, Sourcing at Magic, Las Vegas, says, this ensures a strong return on investment for both buyers and exhibitors.
Omer Bolat, Minister of Commerce, Turkey, says, textile and raw materials exports from the country surged by 6 per cent to over $1.5 billion during the months of January and February, 2024. They hope to surpass the 2023 total of $33 billion textile and raw materials exports this year,
Despite a slight decline in garment exports, Bolat expects a turnaround as European and American demand rises. The government is actively supporting the industry through various initiatives.
Recognising the importance of environmental compliance, Bolat emphasised the need for adherence to the ‘Green Deal’ for exports to the EU. The Ministry is offering consultancy services to companies undertaking Green Deal compliance projects, covering up to 10 million lira of the expense.
Bolat highlighted existing benefits for exporters, including corporate tax advantages, financing through Türk Eximbank, and revamped Turquality promotion programs. These programs offer brand and marketing support, with additional extensions for earthquake-affected textile regions.
Further, Bolat emphasised Turkey's continued strength as a production and supply base. He pointed to the country's success during the pandemic, highlighting its ability to deliver high-quality products within a short timeframe. Turkey achieved a national income of $1.119 trillion in 2023, exceeding the $1 trillion threshold for the first time. Bolat also noted a rise in the national income per capita and a decrease in the unemployment rate.
Bolat highlighted positive manufacturing indicators, including a Purchasing Managers' Index (PMI) exceeding 50 for the first time in 8 months. This signifies expansion in the manufacturing sector. Additionally, the capacity utilisation rate for manufacturing reached 77 per cent in February, and industrial production increased for the first time in 5 months.Bolat reported a rise in employment by 913 thousand people in 2023, reaching 32.1 million. The youth unemployment rate also decreased to a record low of 15.5 per cent, while the youth employment rate rose to 53.1 per cent.
Bolat highlighted a decline in imports and a rise in the export-to-import ratio to 75 per cent. This resulted in a significant decrease in the foreign trade deficit, dropping by $9 billion in just two months. Bolat attributes this improvement to reduced foreign currency needs, achieved by closing the trade and current account deficits.
