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A vital engine of its economy, the Bangladesh garment industry faced mixed fortunes in the first half of the current financial year. While exports to established markets like the European Union and the US dipped due to economic slowdown, the sector saw encouraging growth in newer destinations.
Garment exports to EU, Bangladesh's largest customer, declined by 1.24 per cent, reflecting the impact of high inflation on consumer spending. Exports to the region’s single biggest market, the US also declined 5.69 per cent due to overall slowdown in the American economy.
However, amidst these challenges, Bangladesh found promising opportunities in non-traditional markets. Exports to Japan, Australia, UAE, South Korea, and Saudi Arabia grew in the range of 9.98 per cent to 40.62 per cent. This helped mitigate the impact of the slowdown in traditional markets and kept Bangladesh's overall export growth positive.
Industry leaders believe that with inflation starting to ease and the gains made in new markets, Bangladesh’s garment exports may rebound in the second half of FY24. However, concerns about the Red Sea crisis and rising freight costs persist.
Bangladesh's garment industry is navigating a complex global economic landscape.
While challenges in traditional markets remain, the sector's adaptability and focus on new markets offer reasons for optimism. The coming months will be crucial in determining the industry's trajectory, with the hope that the resilience and diversification shown so far will pave the way for continued success.
The textile printing world is buzzing with Mimaki's DTF (direct to film) printers. Launched in 2023, the Tx150-75 has already surpassed a staggering 300 units sold across Europe, Middle East, and Africa, showcasing not only its own quality but also the surging popularity of DTF printing.
The Tx150-75 tackles common DTF woes like poor ink ejection and white ink clogging head-on with its built-in circulation system and degassed ink pack. Coupled with Mimaki's signature technologies like the nozzle check unit (NCU) and nozzle recovery system (NRS), the Tx150-75 delivers a smooth, efficient printing experience that minimizes intervention. This fills a crucial gap in the market for a stable and reliable DTF solution.
Arjen Evertse, General Sales Manager, Mimaki Europe says, the Tx150-75 delivers on all fronts, but its popularity also stems from its suitability for both newcomers to DTF and existing businesses handling smaller jobs.
Besides, launched in August 2023, the Tx300-75 has already secured over 100 orders. Boasting all the Tx150-75's capabilities but with a three times faster print speed, it's clearly piqued the interest of high-volume DTF printing businesses.
DTF is revolutionising textile printing by digitally printing directly onto a special film, then sprinkling it with hot-melt powder and heating it. This creates stunningly detailed transfers perfect for customized merchandise, sportswear, and countless promotional applications. Unlike traditional screen printing with its time-consuming plate creation and limitations on color and detail, DTF delivers vibrant hues and intricate designs, ideal for the bespoke textile market.
DTF's versatility in material printing and faster delivery times compared to other processes has made it a game-changer for apparel. Both Mimaki models, at 80cm wide, are 20cm wider than the industry standard, maximizing efficiency and minimizing waste. Additionally, Mimaki's Oeko-Tex Eco Passport certified water-based pigment inks (PHT50) specifically developed for these printers ensure eco-friendly operation.
With Mimaki's DTF printers leading the charge, the future of textile printing looks vibrant, efficient, and full of possibilities.
The Red Sea attacks have had a devastating impact on garment exporters in Tiruppur, India. The attacks have disrupted the shipping route to European Union ports, and the cost of shipping has tripled. This has caused a major crisis for the exporters, who are now struggling to meet their deadlines and fulfill their orders.
The Indian government has directed the ECGC (Export Credit Guarantee Corporation) to desist from raising insurance premiums amid rising cost of shipping to Europe. However, this is not enough to help the exporters, who are still facing a major financial burden.
The attacks have also had a negative impact on the local economy in Tiruppur. The garment industry is a major employer in the region, and the attacks have led to job losses and a decline in business activity.
The situation is still unfolding, and it is unclear how the attacks will ultimately affect the garment industry in Tiruppur. However, it is clear that the attacks have had a major negative impact, and it will take time for the industry to recover.
The iconic American denim brand, Levi Strauss & Co, has cemented its position in the eyewear market by extending its licensing deal with Italian eyewear specialist Safilo until the end of 2029. This partnership ensures continued global distribution of Levi's-branded glasses, capitalizing on both companies' strengths: Levi's undeniable brand recognition and widespread retail presence across continents, and Safilo's expertise in crafting high-quality eyewear.
For Levi Strauss, this extension underscores Safilo's proven track record in design, manufacturing, and distribution. It makes them the perfect partner to continue bringing Levi’s iconic style to customers around the world.
The extended Safilo deal strengthens Levi Strauss’ presence in a rapidly growing eyewear market that is projected to grow by 4.5 per cent between 2023 and 2028. Leveraging Safilo's global network and design prowess will enable Levi's reach new customer segments and strengthen its brand image as a lifestyle icon.
The Levi's-Safilo partnership will offer a wider range of styles and technologies to cater to diverse preferences, predict analysts. From classic aviators and wayfarers to trendy cat-eye frames and sporty sunglasses, the future promises exciting eyewear options that seamlessly blend Levi's timeless heritage with Safilo's dedication to cutting-edge design.
Days of scratchy recycled sweaters and uninspired eco-conscious options are passé. The European fashion market is embracing recycled textile materials with gusto, and a recent study by MDPI reveals the fascinating sourcing strategies behind this trend. Titled: “Importing Clothing Made from Recycled Textile Materials? A Study of Retailers' Sourcing Strategies in Five European Countries", the report highlights, how major retailers in the UK, Italy, France, Germany, and Spain are tapping into a global network of suppliers to bring sustainable style to their customers.
"The findings of this study suggest that the European fashion industry is taking significant steps towards a more sustainable future," says Leah Marsh, lead author. "The diversifying sources of recycled clothing and the increasing emphasis on nearshoring are encouraging signs that retailers are committed to offering eco-friendly options while also supporting local economies."
A world of recycled yarns
The sheer diversity of sourcing destinations is perhaps the most striking finding. Forget about a reliance on just a handful of countries – EU retailers are casting their net far and wide, importing recycled clothing from over 40 nations across Asia, America, Europe, and even Africa. This paints a picture of a truly globalized market for recycled textiles, indicating a robust and interconnected supply chain.
Location matters, but in a different way
Interestingly, the study reveals the geographical location of the supplier country plays a significant role in shaping the type of recycled clothing that ends up on European racks. For instance, retailers might favor sourcing basic, everyday items from Asian countries, while trendier, fashion-forward pieces are sourced closer to home or within the EU. This suggests a strategic approach to sourcing, catering to different consumer preferences and price points.
"Consumers have a growing appetite for sustainable fashion, and this is reflected in the sourcing strategies of European retailers," explains Sheng Lu, co-author of the report. "The variety and quality of recycled clothing available is improving rapidly, and we can expect this trend to continue as the market matures."
Developing vs. Developed: A level playing field
One might expect developing countries to dominate the landscape of recycled clothing production due to lower labor costs. However, the MDPI report throws a curveball. The study found no significant advantage for sourcing from developing countries compared to developed ones in terms of product sophistication, replenishment frequency, or pricing. This suggests a more balanced and mature market, where quality and efficiency trump solely cost-driven decisions.
Nearshoring: Sustainability with a local flavor
The report also highlights the growing importance of nearshoring within the EU. Retailers across all five countries studied showed a preference for importing from other EU member states. This trend likely reflects a desire for shorter supply chains, reduced environmental impact, and improved logistical efficiency.
"The emphasis on nearshoring demonstrates a commitment to not only sustainability but also supporting local economies within the EU," says Marsh. "This trend creates a win-win situation for both the environment and European communities."
The Future of recycled fashion
The MDPI report paints a vibrant picture of a burgeoning market for recycled clothing in the EU. With demand for sustainable options soaring, retailers are actively adapting their sourcing strategies to meet these changing tides. The diversity of suppliers, the strategic role of geography, and the rise of nearshoring all point towards a complex and dynamic ecosystem that is constantly evolving. This is good news for both the environment and fashion-conscious consumers, as it promises a wider range of high-quality recycled clothing options in the years to come.
By embracing recycled materials and diversifying their sourcing strategies, European retailers are leading the way towards a more sustainable future for the fashion industry. The global web of recycled textiles may seem complex, but the message is clear: Recycled fashion is here to stay, and its future is bright.
Beyond Basics: A Breakdown of Recycled Clothing Styles by Region
(Categories of recycled clothing sourced by EU from different regions)
Basic essentials (Asia: 60%, Europe: 20%, Other: 20%)
Fashion-forward pieces (Europe: 50%, Asia: 30%, Other: 20%)
Activewear (Asia: 40%, Europe: 30%, Other: 30%)
Luxury items (Europe: 80%, Other: 20%)
The Indian textile industry is facing a major crisis due to increase in undervalued imports of Chinese knitted fabric mixed with woven fabric. This influx, estimated at 1000 metric tons per day, has crippled crucial sectors like dyeing, knitting, spinning, and fiber, pushing them towards closure.
Representatives from various textile associations and trade bodies raised this grave concern during a meeting held on January 18th. They highlighted the detrimental impact on domestic players:
Production Halt: New expansions under PLI and PM Mitra Park schemes have been put on hold due to unfair competition.
Revenue Loss: The exchequer faces an annual loss of INR 6,000-7,000 crores due to lost tax revenue.
Price Anomaly: The finished knitted fabric is being imported at prices equal to Indian spun yarn, raising suspicion of under-invoicing.
The primary reason for this crisis lies in the significant disparity between custom duties on woven and knitted fabrics. While woven fabric attracts a 20% duty with a cap, knitted fabric faces a 20% duty without any cap. This makes importing mixed fabric cheaper than importing woven fabric alone.
Industry experts proposed a straightforward solution: equalize the custom duties on both fabrics. This would level the playing field and curb under-invoicing. Additionally, setting a minimum import price of USD 4.5-5.0 per kg for knitted fabric was recommended R K Vij, representing TAI & NITMA, to ensure fair trade practices.
The meeting was attended by dignitaries like Piyush Goyal (Minister of Commerce & Industry & Textiles), Darshna Jardosh (Minister of State for Textiles), and Rachna Shah (Secretary Textiles). They acknowledged the issue and assured the stakeholders that it would be resolved within two months.
Sanjay Garg, President of NITMA, lauded the government's prompt response and expressed optimism about the future. He commended NITMA's year-long efforts in raising awareness about this issue and submitting detailed representations to relevant authorities.
The textile industry hopes that the government's swift action will address this critical issue and revive the struggling domestic sector.
The first half of Bangladesh's current fiscal year saw the garment export industry navigate a landscape of shifting patterns and mixed fortunes. While overall exports to the European Union dipped slightly by 1.24 per cent, reflecting a global slowdown in consumer spending, there were bright spots within the region. Spain, France, the Netherlands, and Poland all saw increased demand for Bangladeshi-made readymade garments (RMG).
This trend highlights the diversification of Bangladesh's export destinations. Germany, once the industry's top customer, witnessed a significant 17 per cent drop in imports, possibly due to a combination of high unsold stock in Western stores and inflation putting pressure on consumers. Italy also experienced a modest decline.
However, the disappointment in these established markets was offset by impressive growth elsewhere. The United States, despite being the single largest market, saw a 5.69 per cent decrease, but Canada emerged as a beacon of hope with a 4 per cent increase. Notably, the UK registered a remarkable 13.24 per cent surge, demonstrating the potential of new markets.
Beyond traditional destinations, exports to non-traditional markets soared by 12.28 per cent, led by Japan, Australia, and South Korea. This diversification bodes well for the industry's resilience in the face of challenges in established markets.
One concerning note was the 17.27 per cent drop in exports to India, highlighting the complex dynamics of regional trade.
Global textiles leader Hyosung is poised to shake up the denim industry with its innovative and sustainable solutions, to be showcased at the upcoming Kingpins NYC event on January 24-25. With a focus on global sourcing, ethical production, and cutting-edge materials like regen bio-based spandex, Hyosung is setting the stage for a greener future of denim.
According to Simon Hong, Global Marketing Head, the brand is uniquely positioned to meet these challenges with our global network, strong partnerships, and a comprehensive portfolio of certified sustainable textiles.
Hyosung's commitment to continuous innovation shines through in its diverse offering of sustainable materials that elevate denim to new heights. Recognising the importance of global sourcing, the company emphasises the efficient utilisation of resources from across the globe to optimize quality and minimize environmental impact. Additionally, Hyosung champions ethical production processes, ensuring transparency and responsible practices throughout the supply chain.
Responding to market demands, Hyosung is expanding its popular regen bio-based spandex line. Now available with both 70 per cent and 98 per cent renewable content, this innovative fiber offers brands a range of sustainable options without compromising on performance. Notably, Hyosung's 100 per cent recycled regen spandex, certified by the Recycled Claim Standard, has already been adopted by leading denim brands, paving the way for completely recycled denim products.
Forget fleeting trends and embrace timeless pieces that echo the infinite cycle of the ocean. That's the essence of Prada's 2024 Re-Nylon collection, where Emma Watson and Benedict Cumberbatch showcase garments crafted with a conscience. This isn't just fashion; it's a vibrant canvas painted with responsibility and respect for our planet.
Prada Re-Nylon isn't merely a collection born in 2019, it's a bold declaration. It's Prada weaving sustainability into the very fabric of its identity, transforming a luxurious material like nylon into a beacon of environmental consciousness. It's not just about eco-friendly fabric; it's about a seismic shift in the brand's DNA. Re-Nylon wasn't just a collection; it was a catalyst. It propelled Prada to ditch virgin nylon entirely, embracing Econyl, a revolutionary regenerated yarn that endlessly recycles without compromising quality.
This commitment ushers in a new era of luxury, one where environmental awareness and "thinking luxury" walk hand-in-hand. Prada Re-Nylon isn't just clothes; it's a conversation starter, a challenge to the industry's status quo.
The 2024 campaign embodies this evolution. With timeless pieces draped on Emma Watson and Benedict Cumberbatch, the collection celebrates conscious luxury against the backdrop of the very ocean it protects.
But Prada's commitment dives deeper than fashion. One percent of Re-Nylon proceeds support Sea Beyond, an educational program co-created with UNESCO to raise global awareness about sustainability and ocean literacy. This initiative underscores Prada's dedication to not just crafting sustainable products, but also nurturing a culture of environmental consciousness.
Known for its high-quality, affordable basics, Japanese retailer Uniqlo plans to open a store at the Houston’s Memorial Hall in Texas.
The 21,647-sq-ft shop promises to be a treasure trove of stylish essentials for Texans. Its construction is expected to be completed by Fall 2024, marking a significant milestone for Uniqlo's U.S. expansion plans.
This isn't Uniqlo's first attempt at conquering Texas. Back in 2020, plans for a Galleria store fizzled out, possibly due to the pandemic's grip. But this time, it seems things are moving forward with full steam.
Founded in 1984 in Hiroshima, Japan, Uniqlo's journey began with a simple mission: offering casual, affordable clothing for everyone. The name itself is a playful blend of "unique" and "clothing," hinting at the brand's commitment to individuality within accessible fashion.
Today, Uniqlo boasts over 100 stores in Japan and a staggering global presence. Its first US store opened in New York City in 2005, and since then, the brand has steadily grown, with most of its stores concentrated in New York and Chicago.
The arrival of Uniqlo in Texas is exciting news for fashion enthusiasts who appreciate quality, affordability, and conscious consumerism. The Houston store is sure to become a popular destination for those seeking stylish basics and innovative wardrobe essentials. While the exact opening date and additional Texas locations remain under wraps, one thing's for sure: Uniqlo's Texas invasion has officially begun.
In December 2023, Uniqlo's parent company announced plans to accelerate its North American growth in 2024. This includes opening over 20 new stores across the US and Canada, with a focus on entering new markets. The goal is to have more than 200 Uniqlo stores in the U.S. by 2027.
