FW
Located at number 68 of Calle Serrano, the most elegant street in the Spanish capital and home to the global luxury stores, the renovated Salvatore Ferragamo boutique is spread over two floors and covers an area of 321sq mt. It overlooks the street with two large bright windows.
The reopening of the Madrid boutique in its new location aims to consolidate the presence of Salvatore Ferragamo in the strategic and constant growing Spanish market. The brand has, in fact, been present in the country since 2000 with its first corner in El Cort Ingles in Marbella. In Spain, Ferragamo is also present with corners in El Corte Ingles of Madrid and Barcelona.
The next year sees the opening of the previous monobrand in Calle Serrano in Madrid.
The new Calle Serrano boutique stocks the men’s and women’s collections of the Florentine house, ready to wear, bags and shoes, small leather goods, leather and silk accessories, eyewear and fragrances. A section is also dedicated to the Ferragamo creations collection, the exclusive line of women’s shoes launching some of the most famous models in the brand’s history, a perfect marriage of creativity, design, craftsmanship and made in Italy style.
The power loom weaving sector won’t get refund of input tax credit (ITC). ITC refunds for other segments, including textile processing, embroidery and yarn spinning, will be released soon.
Input tax credit is a relief offered under GST.
The textile industry has sought refund of the accumulated input tax credit at the fabric stage. The view is that any delay in such refund could lead to increased imports of fabrics, resulting in job losses in highly vulnerable sectors like power looms, handlooms, and processing.
The textile industry fears costs could escalate by anywhere between three per cent and five per cent which could further impact capacity utilisation.
This percentage share in cost escalation is proportionate to the range of accumulation of input tax credit on the sales value.
Apart from avoiding cost escalation, a timely refund could also avert high imports of fabrics and fall in capacity utilization, which could result in job losses.
While the power loom sector and independent weaving units that produce over 95 per cent of the woven fabric are burdened with 18 per cent GST on yarn, vertically integrated units do not have this problem as they need to pay 18 per cent GST for fibers and only five per cent GST on fabrics and the cost difference works out to five to seven per cent.
New York City officials have hammered out a plan to end a decades-old zoning regulation that protects manufacturing space in Manhattan’s historic Garment District and replaces it with programs designed to keep some of the industry in Midtown.
The plan, which is expected to be announced soon, would achieve a major goal of the real-estate industry, which has long sought to end the zoning. Landlords have argued it preserves more space than declining garment-production businesses can fill.
Advocates of New York City’s fashion industry, who have battled to maintain the zoning, expressed support for much of the proposal, which was circulating behind the scenes recently. These proponents have argued that a vibrant Midtown presence remains critical to the local industry, which relies on a network of services that offer speed and efficiency. Advocates also recognize that foreign competition and other forces have caused the industry to hemorrhage tens of thousands of jobs, and they have been open to replacing the zoning with other programs.
The plan would preserve a garment-industry presence in Midtown partly by using up to 20 million dollars in city funds to acquire a building dedicated to manufacturers.
In the Garment District’s heyday, from the 1920s to the 1950s, it was one of the city’s largest employers, with hundreds of thousands of clothing manufacturing jobs.
5th edition of India’s finest home fashion business exhibition Heimtextil India & Ambiente India will take place in Delhi beginning from June 27, it will be a three day event. More than 100 companies from India, China, Indonesia, Switzerland and Thailand will exhibit at will bring together top manufacturers and suppliers of the home textiles and interior decor industry under one roof.
This internationally renowned fairs will not only present their business to domestic buying agents but also a plethora of modern design concepts, native decor themes, art, colour trends and fresh business ideas through a host of supplementary events. From themed exhibits to inspiring product designs, seminar sessions and experience zones, the platform will offer a quality experience in terms of business and industry networking, said organiser Messe Frankfurt in a press release.
Heimtextil India will rejoice the latest trends and innovations in the world of home textiles. While, Ambiente India, the most significant platform for consumer goods, will offer a wide spectrum of interior décor and merchandise from handmade to industrially crafted products.
D’decor, Aditya Birla, Reliance, RR International, Hira Hastkala are the top home fashion players like that will be showcasing the first looks of their latest collections amongst other brands displaying the best in dining, living, giving and home textiles sectors.
The organisers have also prepared a series of trend-setting features, set to create a buzz among architects, interior designers, retailers, home stylists and design experts. Key highlights will include new product launches, presenting the best of Indian arts and crafts and innovative concepts in interior spaces among others.
Heimtextil India and Ambiente India 2018 will host the Interior Lifestyle Awards that will bring creative masters from the interior decor and home textile sectors together design face off that will follow the theme of 'My Heritage, My New Age India.
Indian Union Textile minister Smriti Irani assured the textile industry of Surat that issues related to GST are being seriously addressed in association with the Finance ministry.
According to her the textile businessmen facing issues with refund under Integrated Goods and Services Tax (IGST) would be heard at special camps being organised by the Finance ministry.
Irani stated that, the Finance Minister took up the issue seriously and assured that the arrangements for the refunds of IGST will be made soon.
She further added that in the last three years of UPA government, under PM Narendra Modi’s leadership, 110 projects have been sanctioned in Surat, in which Rs 34 crore have been released while Rs 57 crore have been approved. For machinery upgrade, a Rs 61 crore subsidy was released by government in 2014-15, Rs 92 crore in 2015-16, Rs 199 crore in 2016-17 and Rs 83 crore in 2017-18. Over 2,900 applicants from Surat, had applied for this.
According to her the capital funding in technical textiles had also been increased with an intention to allow the local businessmen to snatch the opportunity of indigenous manufacturing instead of relying on importing the items.
Cone Denim plans to release a new sustainable denim fabric into the market a blend of Tencel and Refibra-branded lyocell fibers, at the Kingpins show in New York on June 6 and 7.The new material is produced through Lenzing’s Tencel lyocell closed.
The sustainable denim will be made in Cone’s North American mills and will be traceable with a fiber identification, which will provide brands an independent way to verify that the denim contains genuine Tencel and Refibra lyocell fibers.
Kara Nicholas, Cone Denim’s vice president of product design and marketing, says that denim consumers want authentic yet innovative products that maximize comfort, style and performance. They also want to know that their favorite jeans are responsibly made and remain sustainable at the end of their lifecycle when finally discarded.
Cone Denim, a historic denim maker with more than 125 years of history in the United States, stated that it is reacting to the apparel market’s call for fabrics produced with more consideration for the environment.
Based in Greensboro, Cone Denim had always been known as the last domestic producer of selvage denim, but at the end of last year it shut down its White Oak plant.
Bangladesh commerce minister Tofail Ahmed stated the government had extended the time frame of two separate global platforms Accord and Alliance for six more months. Bangladesh will not require any Accord and Alliance after December 31 this year, the commerce minister stated following a meeting with country’s readymade garment sector leaders on labour situation.
Nevertheless, he has suspected that a lobby involved with foreign agencies is trying to ruin the growth of readymade garment industry.
"Bruce Atherley, Executive Director, Cotton Council International (CCI) recently said disposable, fast fashion has made a big contribution to the rise of synthetic, man-made fibres that are cheap to manufacture, though not easily recycled, leaving a damaging footprint on the environment. Unfortunately, scientific research also suggests that clothes made from synthetic fibres, such as polyester and acrylic, may damage the environment throughout their usage, by releasing hundreds of thousands of tiny synthetic particles in every wash."
Bruce Atherley, Executive Director, Cotton Council International (CCI) recently said disposable, fast fashion has made a big contribution to the rise of synthetic, man-made fibres that are cheap to manufacture, though not easily recycled, leaving a damaging footprint on the environment. Unfortunately, scientific research also suggests that clothes made from synthetic fibres, such as polyester and acrylic, may damage the environment throughout their usage, by releasing hundreds of thousands of tiny synthetic particles in every wash.
The good news is that increased level of awareness of this unsustainable product lifecycle has created a desire among brands, retailers and consumers to return to higher quality garments that are less damaging and retain their value for longer. Owing to this, there has been a greater demand for natural fibres, such as US cotton. In fact, US cotton exports are estimated to reach 15 million bales in the 2017/18 marketing year, which is greater than the February US Department of Agriculture (USDA) estimate of 14.5 million bales. US cotton export sales have also been very strong with early sales surpassing recent crop years.
Growing demand for cotton
Atherley says, the strong performance of US cotton is supported by the industry proactively adopting and implementing sourcing practices that put quality
and responsibility at the heart of development. In 2017, the entire US cotton industry approved industry policy and established a Cotton USA Sustainability Task Force with the purpose of setting national goals for measurable continual improvements in key areas of environmental stewardship, farm productivity and resource efficiency such as land, water, air, input and energy use.
The US cotton industry is setting goals that are aimed at building on the strong environmental gains its producers already successfully achieved over the past 30 years. The specific goals to be achieved by 2025 are: reducing the amount of land needed to produce a pound of cotton fibre by 13 per cent; reducing soil loss by 50 per cent, in balance with new soil formation; increasing water use efficiency (more fibre per gallon) by 18 per cent; reducing greenhouse gas emissions by 39 per cent; increasing soil carbon in fields by 30 per cent; and reducing energy to produce seed cotton and ginned lint by 15 per cent.
Research commissioned by Cotton Incorporated in the US, UK, India, Germany, Italy, Mexico and China in May 2017 revealed consumers responded favourably to the idea that cotton could wick moisture better than synthetics. Some 61 per cent of participants said that ‘new and innovative cotton products can now be made to evaporate sweat more quickly, making them a superior choice in athletic wear’. This clearly shows that consumers are ready and willing to hear new ideas in technology, fashion and blends. As a leading sustainable organisation, Cotton USA believes that by continuing to educate, connect and inform everyone in the supply chain about the potential of natural fibres, it can help to build a more environmentally friendly and sustainable industry.
The unemployment rate in the US has reached its lowest since April 2000.
Retail industry employment was up by 28,800 jobs seasonally adjusted in May over April and 1,00,200 jobs unadjusted year-over-year. Overall, US businesses added 2,23,000 jobs in May.
With the unemployment rate of 3.8 per cent at its lowest since April 2000, many industries including retail are hiring and creating jobs at a steady pace. This rate is expected to continue to decline as the fiscal stimulus and tax cuts are further absorbed in the economy.
Solid fundamentals in the job market are encouraging for retail spending, as employment gains generate additional income for consumers and consequently increase spending.
May’s numbers followed an upwardly revised combined increase of 19,300 jobs for March and April. The three-month moving average in May showed an increase of 19,000 jobs.
Retail registered monthly gains nearly in all segments with the most robust increases concentrated in three sectors: general merchandise stores, which were up 13,400; clothing and clothing accessory stores, up 6,500; and building and garden supplies, up 6,000.
Losses were concentrated in two sectors: health and personal care stores, down 800 jobs; and non-store, which includes online, down 1,100 jobs.
Economy-wide, average hourly earnings in May increased by 2.7 per cent year over year.
Confederation of Indian Textile Industry and Cotton Association of India are currently deliberating on the ways to make Indian cotton a global brand.
The proposal, once ready, would be placed before the Textile as well as the Commerce Ministry.
Indian cotton has no brand of its own and hence is unable to carve a niche and earn a premium, unlike US, China or Egypt. The Suvin cotton produced in Tamil Nadu and Shankar 6 produced in Gujarat are both good quality cotton and can be projected as a global brand
Recently, Union Textile Minister, Smriti Irani, asked the domestic cotton industry to come up with a proposal regarding branding of the country’s cotton, primarily aimed at the export market.
