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A global leader in designing, marketing and distributing active and lifestyle apparel, footwear, accessories and equipment, Columbia Sportswear Company has appointed Charles Denson, Chairman, Funko, Inc as its new Director and Member of its Audit Committee effective January 09, 2024.
In addition to his role at Funko, Denson has also served as a director of FAH, LLC since 2016. He has also being serving as the President and CEO of Anini Vista Advisors, an advisory and consulting firm, since 2014. He held various positions in Nike, Inc from 1979 to 2014 including President of the NIKE Brand, a position he held from 2001 to 2014.
An industry veteran, Denson will bring valuable product and marketing experience to the Board of Columbia Sportswear Company, says Tim Boyle, Chairman, President and CEO.
An American Company, Columbia Sportswear Company specializes in manufacturing and distributing outerwear, sportswear and footwear. The company also produces headgear, camping equipment, ski apparel, and outerwear accessories1. Based in Portland, Oregon, Columbia Sportswear Company’s products are fortified with industry-leading technologies and tested in the Pacific Northwest.
Naia™ from Eastman plans to showcase its newly launched staple fiber Renew at the upcoming Heimtextil 2024.
Made from sustainable wood pulp and certified waste, the Naia™ Renew staple fiber can be easily mixed with other sustainable fibers. The fiber is with made with Eastman’s patented carbon renewal technology that helps break materials into basic building blocks. The technology makes end materials indistinguishable from those made from traditional sources. It helps the company keep waste out of landfills and incinerators while reducing carbon footprints and preserving natural resources.
Eastman plans to make nearly 50 per cent of all its products with Naia™ Renew fiber by 2025. The company also aims to reduce the fiber’s greenhouse gas (GHG) emissions by 40 per cent by 2030. Its molecular recycling technology helps recycle plastic and other waste that would otherwise end up in landfills, says Chad Doub, Global Segment Market Manager, Casual Wear & Home, Eastman.
Textile major Welspun plans to invest Rs 1,500 crore to expand its current textile production capacity.
Besides, the company also plans to expand its plastic production capacity in Telangana, Odisha and Gujarat.
The group plans to set up a green ammonia plant in Kutch with an investment of Rs 40,000 crore. It also plans to capitalise on the growing China +1 strategy demand from the global markets.
At the recently concluded Tamil Nadu Global Investors’ Meet, Welspun announced investments worth approximately Rs 6,000 crore. The company aims to grow its revenues to Rs 15,000 crore by 2026, says Dipali Goenka, CEO and Managing Director.
Fast Retailing Co’s strong overseas sales helped the company increase its first quarter operating profit by 25 per cent.
The company’s profit during the quarter ended November 30, 2023 totaled 146.7 billion yen ($1.01 billion) compared to 117.1 billion yen a year earlier.
Fast Retailing has maintained its forecast for full-year operating profit at 450 billion yen, following record earnings of 381.1 billion yen in fiscal 2023.
The company seeks to minimise the environmental impact of its business by building supply chains that protect human rights, health, and safety. It also aims to develop recycle-oriented products; and help tackle social issues.
The company’s premier brand Uniqlo reported a large increase in revenue and profit in China during the first quarter of this fiscal. It plans to open 80 new stores across the country including Hong Kong and Taiwan. Currently, the brand has 931 outlets in mainland China and 2,434 stores across the world.
Uniqlo offers high-quality products made from highly functional materials. The brand’s apparels are available at reasonable prices.
Currently valued at $123.05 billion, the global luxury fashion market is estimated to reach $198.55 billion by 2031. According to a report by Straits Research, the market will grow at 5.46 per cent CAGR during the 2023–2031period.
Growth in the global luxury fashion market will be dominated by the Asia-Pacific region which is likely to grow by 6.79 per cent during the forecast period. Growth in this region will be driven by the escalating number of billionaires in it.
Escalating disposable income of the middle class will contributes to the region’s development of the luxury fashion market.
The second highest growth will be demonstrated by Europe which is estimated to grow at 3.65 per cent over the forecast period. Growth in this region will be driven by the presence of many luxury fashion firms in countries like France and Italy and high concentration of people with exceedingly high purchasing power in numerous European nations. The growth of the tourism sector will also boost demand for luxury fashion products across the region.
Largest revenue contributor to the market, the apparel segment is projected to grow at a CAGR of 4.55 per cent over the forecast period. Growth in this segment will be dominated by men’s fashion that is projected to at 4.41 per cent CAGR over the forecast period.
Owner of the largest market share, the Gen X segment is predicted to grow at 5.35 per cent over the forecast while in terms of distribution channels, the online segment will merge as the highest contributor with a CAGR of 7.38 per cent over the forecast period.
French fashion brand Lacoste plans to open a standalone boutique at Paris Charles De Gaulie Airport in partnership with Extime Duty Free, the joint venture between Lagardère Travel Retail and Groupe ADP.
To be located in the Terminal 2E Departure Hall, the store will feature a luxurious metal façade in green shades. The texture of the store will be inspired by the skin of the crocodile. Its interiors will be designed in light, bright and airy colors to highlight the brand’s updated product offering.
The back of the store will feature a giant Lacoste crocodile logo, illuminated in neon lights on top of a bright green back wall. The feature wall will highlight its best-selling Lacoste polos, in various bright colors.
The store will stock brand’s core collection, travel pieces and gifting essentials. Customers can also elevate their shoppers experience by customising their purchases.
British Wool's Board election heats up as Kate Drury secures an uncontested return in the English Central region. Meanwhile, the English Northern region witnesses a face-off between incumbent board member Carl Stephenson and contender Rob Paisley.
Registered members will receive voting details on January 18, 2024, with the deadline set for February 8, 2024, at 6 pm. Civica Election Services manages the election, offering online and hard copy voting options.
Notably, the geographical counties for this election adhere to the pre-1972 Local Government Act. Successful candidates will serve a three-year term starting April 1, 2024.
In a momentous celebration of the 75-year diplomatic ties between the United Kingdom and Sri Lanka, MAS Holdings welcomed Her Royal Highness Princess Anne, The Princess Royal, on an official visit to one of its facilities in Katunayake.
The visit, which also included Princess Anne's husband, Vice Admiral Sir Timothy Laurence, marked a significant milestone for the Sri Lankan company, the country's largest exporter and private sector employer.
The royal delegation, accompanied by British High Commissioner to Sri Lanka, Andrew Patrick, explored MAS Nirmaana, the Product Creation and Development Centre of MAS Active, showcasing the company's apparel expertise and innovative capabilities.
Reflecting on the visit, MAS Holdings' Group CEO Suren Fernando expressed deep honor, highlighting the pivotal role the UK has played in the company's 36-year journey. The visit not only symbolized the strong ties between the two nations but also underscored MAS Holdings' global leadership in design and innovation within the apparel industry.
In a transformative move, Nan Yang Textile Group, a leading garment specialist based in Bangkok, has experienced a paradigm shift in its production planning and control with the adoption of Coats Digital’s FastReactPlan solution. Since integrating the system in 2019, Nan Yang has slashed its planning time from three days to just one, marking a remarkable 66% increase in planner efficiency. Moreover, the On-Time Delivery Performance (OTDP) has surged by 10%, indicating a significant improvement in meeting production timelines.
Before implementing FastReactPlan, Nan Yang faced challenges with discrepancies between production plans and actual outputs, leading to disruptions and delays. The reliance on Excel spreadsheets proved inefficient, prompting time-consuming meetings and corrections. The shift to FastReactPlan eliminated the need for multiple spreadsheets, providing a centralized, digitized source for critical planning information. The enhanced visibility has fostered seamless collaboration, enabling swift management of diverse orders and change requests.
Kanjana Meim, Production Planning Control Department Manager at Nan Yang, praised the system's ability to translate complex data into a visually intuitive plan. FastReactPlan's color-coded identification of late orders and material shortages streamlines decision-making, and its efficiency function tailored by product type enhances planning precision.
Coats Digital's FastReactPlan has proven instrumental in Nan Yang's strategy for growth, empowering planners to anticipate challenges and optimize operations. This success positions Nan Yang as an industry leader in innovative textile and garment solutions, with a commitment to ongoing digitization. As a core component of Coats Digital’s Manufacturing Solution Suite, FastReactPlan continues to be a driving force behind Nan Yang's efficient and responsive production processes.
US’ textile and apparel (T&A) imports rose by 1.5 per cent in November 2023 as against the corresponding month previous year, as per a report by the Office of Textiles and Apparel of the US Department of Commerce (OTEXA).
The country’s imports from Mexico surged by 79.8 per cent to 443.9 million SME during November 2023 as against 246.9 million SME in November 2022, as per OTEXA.
Imports from China increased by 9.5 per cent to 2.62 billion SME this November from 2.4 billion SME in November 2022. Shipments from Vietnam rose by 9.0 per cent to 445.3 million SME from 408.7 million SME in 2022.
US’ imports from India rose by 3.9 per cent to 13.2 million SME in November 2023 compared with 686.6 million SME in November 2022. On the other hand, imports from Pakistan dropped by 6 per cent to 265.3 million.
US’ imports of textile and apparel products from Turkey also dropped by 24.6 per cent to 458.6 million SME in November 2023 as compared to 608.9 million SME in November 2022. Imports from Egypt dropped by 21.7 per cent to 19.0 million SME as against 24.3 million SME in November 2022.
Shipments from Israel dropped by 5.6 per cent to 24.2 million SME in November 2023 while imports from the Czech Republic fell by 2.3 per cent in November this year from 178.1 million SME in November 2022 to 174.0 million SME in November 2023.
