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VF Corp, a global leader in branded lifestyle apparel, footwear and accessories, has recorded revenue of $3 billion in first quarter of 2018, the companys, revenue soared 12 per cent including a $233 million revenue contribution from the Williamson-Dickie acquisition.
The company's gross margin increased to 50.8 per cent, as benefits from a mix-shift towards higher margin businesses and changes in foreign currency were partially offset by the impact of the Williamson-Dickie acquisition.
Operating income on a reported basis was $311 million. On an adjusted basis, operating income increased 14 per cent to $330 million, including a $16 million contribution from the Williamson-Dickie acquisition. Operating margin on a reported basis decreased to 10.2 per cent. Adjusted operating margin went down to 10.8 per cent. Adjusted operating margin, excluding the Williamson-Dickie acquisition, declined to 11.2 per cent.
VF is in the midst of a transformation to become a purpose-led, consumer-centric organisation. Steve Rendle, chairman, president and chief executive officer stated that VF's transition period results were strong as the broad-based growth acceleration that began in the second half of 2017 continue the core growth engines are driving strong global momentum as it began to enter the acceleration phase of 2021 strategy.
International revenue is expected to increase 13 per cent to 15 per cent. By geographic region, European revenue is expected to increase 13 per cent to 15 per cent. In the Asia Pacific region, revenue is expected to increase 15 per cent to 17 per cent. And, in the Americas (non-U.S.) region, revenue is expected to increase 10 per cent to 12 per cent.
The company forecasts gross margin to be about 51 per cent and operating margin by approximately 13.2 per cent. The adjusted earnings per share is expected to be in the range of $3.48 to $3.53, reflecting growth between 11 per cent and 13 per cent.
Stäubli’s broad product range includes solutions for automated weaving preparation, frame and Jacquard weaving, and carpet and technical textile weaving. The recently re-engineered LX series features a lifting mechanism that allows high-speed weaving of even extremely heavy fabrics. The latest models in the LX Series, the LXL and LXXL, are likewise built for high speed but also for even greater load capacity.
A key feature of every Staubli SX or LX Jacquard machine is the MX module, which controls the precise up-and- down movement of each and every hook. The MX module is made of optimized materials and delivers remarkable service live.
Staubli offers automatic warp-tying machines for reliable single- or double-knot formation at maximum tying speeds. The machinery ensures efficiency, and the warp threads are perfectly drawn through the weaving harness. At the booth, visitors can observe the TOPMATIC tying machine, a perfect workhorse for mills weaving cotton, wool, silk, blended yarns, filament yarn, monofilaments, or technical yarns. For frame weaving mills, Staubli provides SAFIR automatic drawing-in machines, which have proven their capabilities in a very wide range of applications. The SAFIR S60 drawing-in machine for instance is particularly suited for premium shirting fabrics, men’s outerwear, home fabrics, and technical textiles.
Staubli’s ALPHA 500 series includes weaving systems for the creation of an extremely wide variety of rugs and wall-to- wall carpeting for the residential, contract, and transportation sectors. Many of the leading carpet weavers around the world use ALPHA machines in their mills to quickly respond to virtually any requirement.
Trade show Pure London is collaborating with product development, sourcing and production expert Thea Speechley to “fast track” the event’s sourcing and manufacturing section, Pure Origin.
Julie Driscoll, managing director of Pure London stated that with nearly 20 years’ experience working with leading textile manufacturers, trading companies and international textile exhibitions instilling systems and processes within the supply chain. Thea will utilise wealth of experience, knowledge and valuable global network to fast track Pure London’s sourcing and manufacturing section Pure Origin.
Pure Origin will run alongside Pure London and Pure Man, and will bring together all aspects of fashion sourcing and manufacturing under one roof. The July edition will feature more than 70 manufacturers from the UK and around the world will be exhibiting, including Portugal, Turkey and Mauritius.
Speechley, who currently lives and works in Australia, Hong Kong and China, commented on her new role saying that Pure Origin is a fantastic opportunity to showcase new manufacturing techniques, fabrics and innovations and its potential for growth is very exciting.
The next edition of Pure London and Pure Origin takes place at London Olympia from July 22nd to 24th.
Kornit Digital, has announced the introduction of the new Storm HD6 direct-to-garment printing system. The system will be unveiled at the Kornit stand A20 in 1.1 at FESPA Berlin with commercial availability expected for Q4 2018.
The new systems are the result of Kornit’s experience gained from 15 years of direct-to-garment printing innovation and a very large installed base of systems. The Storm HD6, to be revealed at FESPA Berlin, allows small to mid-size businesses to drastically reduce their cost per print, enjoy high-definition image quality and improved hand feel, with an enhanced color management experience.
Kornit will implement the HD technology in the Storm platform combined with the NeoPigmentTM Rapid ink, leading to significant reductions in ink consumption and cost per print.
The new cost per print levels make the new HD systems an attractive choice for screen printers and digital printers for print runs between one and 500 copies. This ink, offers an improved gamut for spot and brand color matching, increased opacity and saturation of the white ink.
Kornit’s Storm platform represents the mid-productivity segment of Kornit’s industrial direct-to-garment printing product portfolio, which provides a rich choice of different systems for different application requirements. The Storm HD6 includes six color channels and white, for a wider gamut and improved spot color matching.
Jeanologia is presenting its latest collection at the Bangladesh Denim Expo. The collection will be based on the new production model which is technological, sustainable, and respectful of workers’ health. The expo is being held on May 9 and 10, 2018, in Dhaka.
The collection will reveal the key factors showing how it is contributing to the transformation of the Bangladeshi industry, moving towards a complete digitalisation with Jeanologia as the expert technology partner. The capsule collection, created using the combination of Jeanologia technologies, shows two completely identical garments that have used two different production processes: the analogue and the digital.
The combination of Jeanologia’s laser, ozone and eflow technology, together with the correct choice of fabric made by the Light Sensitive Fabric tool, manages to save 80 per cent in water and 50 per cent in chemical use in this collection, reducing the production time 30 per cent.
The collection has been fully created in Bangladesh, from the fabric to the garment finishing, meaning that all the players involved in the Bangladeshi textile industry are taking part in the company’s mission to create an ethical industry, eco-efficient and sustainable.
Jeanologia, leader in the development of sustainable technology for the textile industry, has been present in Bangladesh for 10 years.
H&M was a rare high street name with a powerful presence on the red carpet at the Met Gala. The company got maximum value out of the creations it made for the night, marketing an exclusive capsule of four red carpet looks “inspired by celestial glamour”.
Actress Lili Reinhart wore a silver dress inspired by armour, described by the retailer as “a cloud-like drape of silver lame organza held by a silver corset, creating a dramatic contrast between control and flow.
Actress and model Olivia Munn wore a sleeveless chainmail dress designed to “drape on the body like liquid, while model and activist Alek Wek wore a draped dress that took inspiration from mosaics. It had a long train of silver and jewel tones created from a pattern of beading and sequins.
Actress Kiersey Clemons wore a beaded dress like a net of gold and pearl, while model and actress Jasmine Sanders wore a voluminous gown of gold metal lame tapping into another of the evening’s major trends, a high slit.
On the other hand model Luka Sabbat wore an extravagant robe hand-embroidered with sequins with tuxedo trousers made from sustainable organic silk, tencel and wool.
Daniel Link has recently became the new Chief Executive Officer of Loepfe Brothers. The current CEO Maurizio Wermelinger, will retire but will remain as a consultant for a limited time to ensure a smooth transition. Daniel Link is an experienced man in the textile industry. He holds a Master in Engineering from EPFL Lausanne and an MBA in General Management from the University of St. Gallen. Daniel Link held various management positions in R & D and product management at OC Oerlikon, before moving to Rieter Management AG in 2007 as Senior Project Manager for Corporate Planning and Development. In the last 8 years he was successful CEO of Bracker AG.
Maurizio Wermelinger has guided Loepfe successfully over the past ten years, particularly during periods of difficult economic situations in the textile industry. As former production manager he focused strongly on Swiss quality in manufacturing an approach, which has been proven to be a big success. Under his aegis several new instruments and services have been successfully developed and integrated into the portfolio.
"After the aftermath of series of deadly fire and building accidents in Pakistan and Bangladesh the image underscored a woefully inadequate apparel brands’ approach to worker rights.Brand-label information matters not just for fire and building safety. The $2.4 trillion apparel industry, which predominantly employs women as garment workers, witnesses a host of labor abuses. These range from poor wages to factory owners and managers denying paid maternity benefits or even firing pregnant workers to harassment of union leaders to forced overtime work to workplace sexual harassment."
After the aftermath of series of deadly fire and building accidents in Pakistan and Bangladesh the image underscored a woefully inadequate apparel brands’ approach to worker rights.
Brand-label information matters not just for fire and building safety. The $2.4 trillion apparel industry, which predominantly employs women as garment workers, witnesses a host of labor abuses. These range from poor wages to factory owners and managers denying paid maternity benefits or even firing pregnant workers to harassment of union leaders to forced overtime work to workplace sexual harassment.
The governments of producing countries worldwide are primarily responsible for working conditions and labor law compliance. But under international standards, global apparel and footwear companies also have a responsibility to ensure that the rights of workers are respected throughout their supply chain.
At present, a number of leading companies have disclosed at least the names and addresses of their supplier
factories.
On the other hand a vast majority of the industryhave still do not openly disclose which factories produce their branded clothes.
When an apparel company publicly discloses its production sites, it allows monitoring where it is most needed. Workers need this information, as do those who may advocate on their behalf, including union representatives, local and international nongovernmental organizations, lawyers, journalists, and academics.
Transparency not only provides workers and advocates critical information about where to turn with problems. It builds confidence among consumers who care about the ethical business practices and allows workers to hope that brands profiting from their labor will hear of their struggles and intervene.
Some brands that reject transparency invoke the oft-repeated trope of competitive disadvantage. But leading companies that already disclose factory information have not said they suffer any financial harm as a result. And publishing supplier factory information would allow brands sourcing from the same factory to potentially collaborate to prevent labor abuses or dangerous conditions.
Some brands say their membership in initiatives like the Bangladesh Accord on Fire and Building Safety, a binding agreement between brands and global unions forged after the Rana Plaza collapse, proves their commitment to transparency.
Governments must compel transparency and other mandatory human rights processes in an apparel company’s supply chain. Only governments can impose penalties and set enforceable standards.
However, there are increasing attempts by some governments to legislate on company responsibilities.
The industry wants a uniform textile policy across the country. This is seen as necessary since if one state offers subsidies, textile units in other parts shut down and shift to that state.
India aims at doubling the annual revenue of the textile industry in the country by 2025.
The Indian textile sector contributes 16 per cent to the country's GDP. But when only 16 per cent of the GDP comes from manufacturing, it is not enough for a sustainable economy. Thus it is necessary to scale up that contribution.
Foreign direct investment is being encouraged in the textile sector, which has the potential to create millions of jobs. The textile sector is capable of strengthening the rural economy and creating large-scale employment.
However the Indian textile industry is over-dependent on the European Union and the US for exports. But when the season goes away in those markets, there aren’t enough orders. The sector doesn't have markets in other parts of the world. So it is exploring new markets like Latin America and Australia for Indian fabrics, garments and apparels in order to boost exports.
Efforts are on to make khadi a globally accepted fabric and garment. During a survey in 21 overseas markets, khadi was the most recalled Indian brand, along with yoga.
UBC Okanagan, based in Canada, is working to solve the issue of wrinkling when it comes to making textile composites.
Researchers investigated several de-wrinkling methods and discovered they could improve their effectiveness by pulling the materials in two directions simultaneously during the manufacturing process. They did this by creating a custom-made biaxial fixture -- a clamp that stretches the textile taut and removes unwanted bumps and folds.
Textile composites are known for their strength and durability. But a simple wrinkle in the manufacturing process can significantly alter the end product -- sometimes diminishing its strength by 50 per cent.
Wrinkling is one of the most common flaws in textile composites, which are widely used for prototypes, as well as mass production within prominent aerospace, energy, automotive and marine applications.
The challenge was to avoid unwanted fiber misalignment or fiber rupture while capturing the out-of-plane wrinkles. Manufacturers who use these types of composites are looking for more information about their mechanical behavior, especially under combined loading scenarios.
The research included stretching the material and then using specialized image processing and 3D scanning to analyze the required forces and its impact on the wrinkling and de-wrinkling of the material.
Composite textiles are changing the way products are designed and built in advanced manufacturing sectors.
