Made-in-Italy men’s fashion posted a 3.4 per cent revenue growth in 2017, higher than the 2.1 per cent rise initially forecast last January. Total menswear revenue was equivalent to a 17.2 per cent share of Italy’s overall textile/fashion revenue, and a 27.4 per cent one of apparel revenue alone.
Knitwear was up 7.6 per cent and garment manufacturing was up 3.4 per cent. Shirt and leather apparel production were down by more than two per cent and ties fell by 9.5 per cent. Exports accounted for 65.5 per cent of total menswear revenue.
In 2017, Germany surpassed France as the main foreign market for Italian menswear exports, growing 10.1 per cent. Exports to the UK also grew by a healthy 8.3 per cent, making the UK Italy’s second-largest market. France was up 3.8 per cent and Spain 3.9 per cent though the latter slowed down after the 15.4 per cent leap in 2016. Russia was one of the most positive markets for Italian menswear in 2017, with exports growing 19.6 per cent.
Vietnam’s garment and textile exports is likely to reach $200 billion by 2035 fuelled by import tax reduction brought about by free trade agreements, increasing automation in production and favorable world market. Vietnam’s garment sector is likely to rake in $34.5 billion from exports this year. The sector has great potential for development to 2035. However, thorough preparations to meet the target export value is needed. Firstly, the domestic material consumption rate needs to be raised, aiming at 80 per cent of fibres and 60-65 per cent of other materials by 2030-2035.
Vietnam is now less dependent on Chinese materials as domestic materials can meet 40-45 per cent of the sector’s demand. The rest of it is imported from China, Japan, Indonesia, the Republic of Korea and Thailand.
The US has escalated its apparel imports. Marginal rise in unit prices has made the United States spend more on apparel imports from January to April 2018. The US imported 8,531 million square metres of apparel as compared to last year up 1.46 per cent.
The country spent $25.15 billion on imported apparels in the review period which were slightly higher than the previous year. China, Vietnam, Bangladesh, Indonesia and India were the top five apparel exporters to the US during the first 10 months of 2018. Indonesia increased its value share in the US but China lost a significant share in value terms.
India, posted solid growth after its apparel shipment went on negative side in Q1 ’17 by 0.80 per cent. India exported apparels worth $ 1.43 billion in the review period adding another $ 394 million in April from March month. On the other hand Bangladesh, remained positive in its apparel exports to the largest apparel importer in the world. Bangladesh’s apparel shipment value was $1.79 billion as against $1.74 billion.
Italian leader in the production of man-made yarn Fulgar, has been pursuing a wide-ranging green program involving the production process and product offered. The company has developed two sustainable products that are fast becoming best-sellers. These are: Evo, a bio-based yarn made from castor oil; and Q-Nova, a yarn developed exclusively from regenerated raw materials.
Launched five years ago, Q-Nova was the first speciality to be developed by Fulgar. This eco-sustainable yarn makes the company’s production processes more sustainable, leading to lower CO2 emissions and water consumption. Q-Nova is made exclusively from regenerated raw materials through a mechanical process that uses no chemical materials that could compromise the sustainability of the end product. Owing to its environmental sustainability performance, supply chain and zero-kilometre philosophy, Q-Nova has been supported and adopted by many companies, especially in the circular knit, legwear and woven material sector for the clothing, intimate wear and sportswear industry.
These unique features have led Q-Nova to be selected for an extensive range of uses in high-end capsules and collections in the sport-technical field, and as a leading product for many top commercial and research brands in northern Europe, the UK and North America.
Socks manufacturer SNQS, based in Tirupur, plans to expand production capacity. The company has 700 socks making machines, producing 90,000 dozen socks a month. SNQS will add a further 100 machines with an investment of nearly Rs 7 crores. The company uses machines of Italian manufacturer Lonati and is likely to install the same machines in future as well.
The company works with cotton, bamboo, aloe vera yarns and is now trying options in Tencel also. Though these yarns are comparatively expensive, SNQS wants to give something new to the market. Working with prestigious companies like M&S, Max (Landmark Group), Nutmeg etc. the company is also receiving some tag on orders from such exporters that want to give socks along with their core products.
Global socks market is estimated to grow at a CAGR of 8.5 per cent from 2015 to 2023. In a number of developing and less developed countries, such as Asia Pacific, Latin America and Africa, the market features a largely unorganized structure with a number of domestic players that tap growth opportunities through their economical products. Athletic socks are presently the most in-demand varieties of socks. The segment accounted for over one-third of overall sales of socks across the globe in 2014.
Pakistan Textile Exporters Association (PTEA) has hailed the increase in country’s exports of 15.28 per cent year-on-year to $21.34 billion in first 11 months of current fiscal year. PTEA has stressed for fast track implementation of long term growth-led export policies in true spirit to get sustainable growth and shrink the huge trade deficit.
PTEA chairman Mian Shaiq Jawed has praised the upsurge in country’s exports. He says value-added textiles are the main driver of growth in the country’s exports which has risen 8.13 per cent to $11.13 billion in July-April period of FY18. In the first 11 months of current fiscal year, total exports crossed $21 billion and if the trend continues, they would cross $23 billion, which will be the highest level since FY14.
He further said textile exports have taken off as a result of cash incentives under the Prime Minister’s export package. He asked for immediate payment of cash incentives under PM export package to further accelerate the growth in value added textile exports.
Pakistan has extended its export package for three years. This is meant to enhance the country’s export receipts, improve competitiveness in textile and non-textile sectors in a bid to increase the pace of growth in exports in the coming financial years.
To incentivise investment in export-oriented production, the drawback of local taxes and levies scheme has been extended on the same terms and conditions for commercial as for non-commercial exporters. The hope is that the three-year extension in export package for value-added and non-traditional products and markets would provide an incentive to local and foreign stakeholders for investment in export-oriented production capacities.
These components of the export package are expected to provide significant competitiveness benefits to the export sector. The package is in addition to other relief measures announced for the export sector. The package has contributed to a U-turn in exports in fiscal year ’18, which had earlier been declining continuously since fiscal year ’14. Textile producers expect a further hike in exports.
In Budget ’19, packaging material has been included in the sales tax zero-rated regime, which was initially designed for five major export industries--textile, leather, sports goods, surgical goods and carpets.
While the retail sector has performed well lately, the best growth is happening at the high end. With the global economy as strong as ever, and millions of people worldwide entering the middle class, especially in India and Asia, that trend is showing no signs of slowing down. And spends on luxury goods are growing.
Movado’s shares have been on the rise, gaining 60 per cent year to date. The group has a range of watches, jewelry and accessories at multiple price points. Its Swiss-made timepieces are sold both from its own branded retail stores and high-end department stores. Movado also manufactures goods under licensing deals with other fashion brands like Coach, Hugo Boss and Lacoste.
Tiffany continues to command premium prices for its jewelry and accessories in a business that has in many other cases become highly commoditized. Tiffany is the brand of choice for high-end jewelry customers. The company reported revenue growth in the Americas, Asia and Europe and improved gross and operating margins. It also announced the opening of four new retail stores, bringing the worldwide total to 314.
Burberry manufactures luxury clothing and accessories. It’s known for its checked plaid pattern. After a difficult year in 2015, Burberry is back on track and shares have nearly doubled in the past two years.
Kraig Biocraft Laboratories has completed more than 2,500 microinjections using the new spider silk DNA synthesis methodology. This new method allows for faster creation of larger and more complex spider silk proteins. Larger and more complex proteins are believed to produce improved silk strength, toughness, and elasticity. These improved recombinant spider silk fibers will allow the company to target an expanded set of end market applications.
US-based Kraig Biocraft is a developer of spider silk based fibers. The company is looking forward to creating new transgenics with an abridged development cycle and enhanced materials performance. The transgenics created using the new protocols are expected to be transitioned into prodigy textiles.
Kraig Biocraft Laboratories is a biotechnology company focused on the commercialization of new textiles and high performance fibers including spider silks. As the leading developer of genetically engineered spider silk based fiber technologies, Kraig Biocraft has been able to achieve a series of scientific breakthroughs in the area of spider silk technology.
Inditex gross profit margin in the first quarter was 58.9 per cent compared to 58.2 per cent a year earlier. However, same store sales growth slowed slightly in the quarter. Sales in stores that have been open for at least one year rose around five per cent in the three months ending April 30 compared with a year earlier. That is a slight slowdown from the company’s previous fiscal quarter, when like-for-like sales rose around six per cent year-over-year.
Inditex closed its fiscal first quarter with 7,448 stores in 96 markets, a slight decline from the 7,475 stores the company had in the previous quarter. Spain-based Inditex, owns Zara and seven other brands including Massimo Dutti and Bershka.
Competitors have been unable to fully replicate Inditex's business model, which takes clothes from design to rack in weeks. The company’s gross profit margin is expected to bottom out this year as currency headwinds ease. The crucial profitability metric has fallen somewhat in recent years.
Zara's growth is flagging because of heightened competition, which is forcing the company to lower the price of clothes and footwear and to put more apparel on sale. Growth in online sales is also chipping away at profitability, because it is more expensive to ship internet orders.
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