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TGC (Tokyo Girls Collection) was held at the United Nations on May 31, 2018. This is a fashion festival held twice a year since August 2005 with the theme of showcasing Tokyo street culture. Around 100 popular Japanese models performed in a fashion show displaying Japan's street fashion. The festival also featured live performances by important artists, a special stage filled with popular guests, booths where participants could touch and try popular items, and various other contents that are unique to TGC.
Models, singers, and celebrities presented the latest casual wear from Japanese and international designers on the runway, while the audience could order the clothes on their smart phones instantly. TGC promotes sustainable development goals among young women. It presents the latest trends, fashion and content surrounding Japan’s girls’ market.
The 2030 Agenda for Sustainable Development is a set of international development goals from 2016 to 2030, which was adopted by the UN Sustainable Development Summit held in September 2015 building on the success of Millennium Development Goals.
After collaboration with FOUNAP in 2015, TGC has been promoting SDGs among Japanese women through many activities, and as a result, TGC had an opportunity to hold the event by being valued as an unique social model that advocates and implements SDGs with leveraging TGC’s overwhelming awareness and the power of diffusion.
The ever-growing denim market in India is on a roll. An organised retail sector, a young population, online penetration of denims and the increasing popularity of engineered or distressed pieces will continue to fuel the growth of this segment. Originally a product for the youth, denim has grown to cut across geographies, gender and age groups.
Given the average age of the Indian consumer today, and the influence of global style trends in the country, the industry can be expected to grow at double-digit. Today, denim is considered a multipurpose fabric. It is used as casual wear, everyday wear, and is also gaining popularity in the leisure form owing to the comfort provided by stretch denims.
New-age companies and start-ups are relaxing norms. With the introduction of Friday dressing and casual dressing to work, denim is increasingly becoming an acceptable attire at work. The Indian denim market is projected to grow at a CAGR of 14.5 per cent till 2021.
Asia has a 22 per cent market share of the global denim industry and India contributes to nearly half that market. India will have a lot of influence in jeanswear in the coming years as the demand is increasing in all segments.
Hosiery manufacturers in India want the government to stop any further export of cotton till the next cotton season begins in October. They feel, this will control cotton prices and make the remaining quantity of harvested cotton crop available to domestic textile sector.
With cotton being the main raw material for knitwear manufacturers, any escalation in prices affects profit margins. Huge fluctuations in domestic cotton prices in recent months have resulted in an increase in cotton yarn prices. Hosiery includes socks, tights and pantyhose and nylons. The growth of socks segment is mainly driven by increasing demand for socks from the age group up to 14 years and the age group 15 to 64.
Consumers look for quality, durability, fit, style, and glamor while purchasing hosiery products. Not only is the market for women’s hosiery rising, the demand for such goods is rising from the men's segment too because these days even men follow new trends in fashion and apparels.
The e-commerce sector is a major driver propelling the growth of the hosiery market. Online retail stores save the consumer's time, give product availability at doorsteps, and offer products at discounted prices. Penetration of sheer hosiery has been lower in India, primarily due to the huge presence of unbranded sheer hosiery in the large unorganised marketplaces in the country.
H&M Q2 sales rose two per cent compared corresponding quarter of previous year. The total number of stores in H&M group was 4,801 as of May 31, 2018, compared to 4,498 in the same time previous year. Sweden-based H&M was founded in 1947. The business idea is to offer fashion and quality at the best price in a sustainable way. The group has 47 online markets and more than 4,800 stores in 69 markets including franchise markets. The number of employees amounts to more than 1,71,000.
H&M aims at using only recycled or sustainable materials by 2030. It launched a pilot project called Take Care in Germany. The project features in-store seamstresses, sales of garment care products and online advice. Take Care aims at encouraging H&M customers to extend the life of their clothes, giving them the means to take better care of their garments.
On products side, H&M has developed a cleaning line with environment-friendly detergents, a stain-removing spray and cleansing wipes for sneakers. Also available are a sewing kit, patches for worn-out clothes and a washing bag designed to prevent the dispersal in the water of the microscopic plastic particles shed by synthetic fibers.
Negotiations over a free trade agreement between Panama and China will begin in July and then talks will alternate between the two capitals every five weeks “to be able to have regular rounds and progress more rapidly. Negotiators are expected to name technical teams that will be charged with discussing details on market access, rules of origin and customs procedures, among others topics.
However, the Panamanian minister did not state for how long the talks would continue but pointed out other treaties with foreign countries have been forged over a period of two years while stressing that on political negotiations. He mentioned Panama had established a direct flight between Beijing and Panama City with a technical stop in Houston, which would operate twice a week.
China has been expanding its influence across Latin America, and Panama is seeking to attract new investment and boost re-exports of Chinese goods throughout the region. It has eleven Free Trade Agreements in operation, with another three under negotiation and another three under consideration.
Bottega Veneta has named Daniel Lee its creative director from July 1. A graduate of Central Saint Martins, Lee was director of ready-to-wear at Céline, owned by rival French conglomerate LVMH Moët Hennessy Louis Vuitton. Lee, is currently the head of ready-to-wear design at Celine, the French luxury label owned by LVMH Möet Hennessy Louis Vuitton.
Claus Dietrich Lahrs, CEO of Bottega Veneta, stated Daniel Lee has a deep understanding of the House’s current challenges both in terms of creation and development. He will bring to Bottega Veneta a new and distinctive creative language that will continue building the House's success based on the ambitious foundations already developed over recent years.
Maintaining the ingrained codes of the House, craftsmanship, quality and sophistication, Lee looks forward to evolving what has gone before, while contributing a new perspective and modernity. By commending the entire creative direction of Bottega Veneta to Daniel Lee, a talented young designer,Kering continues to place bold and daring creativity at the center of its strategy.
Bottega Veneta announced its plans to part ways with Maier, who had been at its helm for 17 years, earlier this week.
Archroma recently signed an MoU with the University of Engineering & Technology (UET), Lahore, Pakistan. The partnership will explore new methods in textile research to help the Pakistan textile industry compete with the fast pace of global apparel needs and development. The MoU will be valied initially for a five-year period. As per the MoU, UET students will also be able to join internship placement programs at Archroma Center of Excellence at Karachi. Both partners will jointly hold sessions to prepare students for the challenges of the textile industry through in-house training sessions, developmental projects, research in textile applications and process innovative methodologies by pioneering value additions.
India’s exports rose 5.71 per cent in April. However, major labor-intensive sectors - gems and jewelry, leather and readymade garments -- may continue to see decline. These sectors are still facing the problem of liquidity as banks and lending agencies have continuously been tightening their lending norms and the flow of GST refunds has also slowed down.
Among labor-intensive sectors, readymade garment exports have continued to drop since October 2017. Exports in the sector fell by a significant 22.76 per cent in April, higher than the 17.78 per cent fall in March. At present, the industry is going through a tough period with its competitiveness greatly eroded. This is reflected in the unprecedented month on month decline in apparel exports every month after October 2017.
Refinery exports declined 4.5 per cent in April. This happened despite the rise in global crude prices notwithstanding. However, the rate of contraction reduced from 13.22 per cent in March and 27.44 per cent in February. This happened as major oil refineries were closed at the same time due to maintenance and other issues. Industrial production in the country witnessed a growth of 11.73 per cent in April against a 4.60 per cent rise the previous month.
In a so-called trade war, driven by reciprocal increases of import tariffs, nobody wins. One generally finds losers on both sides. Canada and the US are engaged in a trade dispute. Canada is firm on imposing equivalent tariffs to what the US has outlined for steel and aluminum, and these countermeasures would take effect from July 1. The European Union has made much the same, detailing duties on US products, including T-shirts, jeans and cotton bed linen.
These actions and reactions, apart from damaging long-standing relations, could incite a global trade war where consumers come out the biggest losers and no economy will likely emerge unscathed. Looming tariffs and their countermeasures could pose significant risks to the global economy. Unilateral trade actions aren’t only disruptive as they can prove counterproductive to the global economy and global trade as a whole.
It would be serious, not only if the United States took action, but especially if other countries were to retaliate, notably those who would be most affected, such as Canada, Europe, and Germany, in particular. Each, and including Mexico, has already promised to retaliate with tariffs of their own in the light of the United States’ actions. These measures are likely to move the globe further away from an open, fair and rules-based trade system.
"This seems to be a classic case of the big fish trying to swallow the smaller fish. The Rwandian move of imposing tariffs on the US export of second-hand clothes seems to have bruised many egos in the Donald Trump administration, which promptly suspended duty-free access to the US markets for Rwandan clothing. This squabble between the world’s economic giant and one of Africa’s fastest-growing economies reflects the difficulties that even a low-wage country like Rwanda can face developing an industry in an intensely competitive global market."
This seems to be a classic case of the big fish trying to swallow the smaller fish. The Rwandian move of imposing tariffs on the US export of second-hand clothes seems to have bruised many egos in the Donald Trump administration, which promptly suspended duty-free access to the US markets for Rwandan clothing. This squabble between the world’s economic giant and one of Africa’s fastest-growing economies reflects the difficulties that even a low-wage country like Rwanda can face developing an industry in an intensely competitive global market.
Blurred vision
Until recently, supporting African economic growth was the cornerstone of US-Africa policy. But, the suspension
of access for Rwandan apparel reinforces the growing belief that the Trump administration’s trade vision is highly blurred. And there is no question that US businesses will suffer as a result. Africa represents the last frontier for America’s export-driven economy, with consumer and business spending predicted to reach $6.7 trillion by 2030. But the US misses a larger opportunity by engaging in petty trade squabbles and generally neglecting the continent.
Maintaining dignity
Rwanda’s motivations are as much about dignity as they are about economics. Just as China recently banned imports of “foreign garbage” that it used to buy and recycle, Rwanda is taking a stand against the perceived indignity of buying clothes that others have worn and discarded. The White House fails to grasp this, as well as the bigger picture for the United States.
Rwanda has made huge economic progress in the past 25 years. But the ubiquity of recycled apparel – known as chagua – has stifled the growth of its nascent textile industry and has dented national pride.
A boost to local industry
The country recently launched a national ‘Made in Rwanda’ campaign to mobilise support for local entrepreneurs, artists and craftsmen as well as encourage companies to improve production quality and standards. TV and radio advertisements are also urging Rwandans to shop locally. The country has initiated a series of reforms to attract foreign investors, offering a friendly business environment and significant tax incentives.
Meanwhile, other economies are making aggressive commercial investments in Africa. China has been Africa’s leading trade partner for the last nine years; trade scuffles like this one with Rwanda can only further drive African states into China’s open arms. Nor is it just China — the European Union has been actively traveling the region, signing two-way trade agreements that will disadvantage American companies far more than any tariffs on secondhand clothing.
