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SP Apparels, a prominent apparel exporter, has successfully acquired the textile business of the Bannari Amman Group, including key assets such as its subsidiary, Young Brand Apparel. This strategic acquisition encompasses the garment unit at Palladam Hi-Tech Weaving Park, along with 6.43 acres and a building at SIPCOT in Perundurai, providing SP Apparels with significant leasehold rights.
Notably, SP Apparels will now have access to the manufacturing and export capabilities of Young Brand Apparel, a well-known player in the intimate wear market segment. Young Brand Apparel, a joint venture between Jacob Industries (US) LLC, Mexico-based Intimark, and Bannari Amman Spinning Mills, boasts of a sprawling 26-acre site on the outskirts of Chennai, housing a 280,000 sq ft manufacturing facility.
SP Apparels, recognized for its leadership in sustainability, focuses on comprehensive sourcing, manufacturing, and supplying children's and kidswear. In fiscal 2022-23, the company recorded substantial growth, with revenues increasing to Rs 9,623.20 million from Rs 7,764.21 million in FY 2021-22.
On the other hand, Bannari Amman Spinning Mills, the previous owner of the acquired textile business, is a renowned manufacturer and distributor of cotton yarn, woven and knitted fabrics, home textiles, knitted garments, and fabric processing. With two spinning units in Dindigul, Tamil Nadu, boasting an installed capacity of 145,440 spindles, the company also operates weaving and home textiles units at Karanampettai near Palladam, a processing unit at SIPCOT, Perundurai, a knitting unit at Karanampettal near Palladam, and garment units at Palladam Hi-tech Weaving Park. Additionally, Bannari Amman Spinning Mills owns 27 windmills for captive consumption.
This strategic move to acquire Bannari Amman Group's textile business positions SP Apparels as a stronger player in the apparel sector solidifying its presence and capabilities in the industry.
South Korea’s Hyosung TNC's spandex facilities are experiencing a notable increase in demand, pushing their operational capacity beyond 90 per cent. This uptick is attributed, in part, to the increasing demand for spandex in China. From January to October, consumption in China rose 13.4 per cent to 690,000 tons compared to the previous year, resulting in an 88.1per cent spike in import volume and a 2.7 per cent decline in exports during the same period.
In the Chinese market, heightened competition and oversupply have prompted the closure of several small and medium-sized spandex companies. Intensified competition and an unstable supply of polytetramethylene ether glycol (PTMG), leading to higher raw material costs, have forced these companies to suspend production. The number of spandex producers in China has gone down from 22 in 2015 to 11 by the end of last year. Recently, four more companies stopped production, with two more expected to follow suit this month. Additionally, other producers are considering reducing their production capacities, according to a report by the CCF Group.
In contrast, Hyosung TNC is strengthening its competitiveness by internalizing PTMG production and diversifying its product portfolio. With a $53 million investment, the company established a PTMG production facility in Vietnam last year. Looking ahead, Hyosung TNC aims to introduce innovative products like Creora Bio-based, made from corn-derived materials, and Creora Fresh, designed to eliminate sweat odors in the market. These strategic initiatives position Hyosung TNC to navigate market dynamics effectively and maintain a robust presence in the spandex industry.
Amidst global call for climate action, the latest release of the ICAC Recorder proves to be an invaluable resource. Comprising 35 pages, this complimentary publication provides a trove of data, research insights, and perspectives from preeminent cotton researchers worldwide.
Keshav Kranthi, Chief Scientist, ICAC, highlights the urgency of the matter, revealing that a staggering 219 billion tonnes of carbon have been introduced into the atmosphere in the past 62 years. However, there is a glimmer of hope highlighted in the editorial, showcasing the potential of the plant kingdom to capture 4 billion tonnes of carbon annually, with cotton's 97 per cent cellulose fibers making it a standout contributor.
The publication encompasses nine compelling articles, delving into subjects such as climate-smart agronomy, the repercussions of climate change on global cotton production, and innovative, climate-resilient technologies. From exploring regenerative agriculture to the digitization of carbon farming, the Recorder provides a thorough examination of cotton's pivotal role in the battle against climate change.
This edition serves as a valuable asset for individuals seeking sustainable solutions in the face of environmental challenges, offering a comprehensive exploration of the multifaceted dimensions of cotton's contribution to combating climate change.
The Clothing Manufacturers Association of India (CMAI) is gearing up to host the fourth edition of 'Fabrics, Accessories, and Beyond' (FAB) trade show in Mumbai from April 15 to 17. The event, will be hosted at the Bombay Exhibition Centre, covering an extensive two lakh sq. ft space. It aims to facilitate connections and business transactions between manufacturers and buyers on a national scale. With over 200 exhibitors expected, the trade show is sponsored by Fabexa and anticipates a strong turnout of more than 12,000 trade visitors.
Stall bookings are currently open for vendors specializing in textiles, accessories, and related materials and machinery. The CMAI, during a promotional roadshow in Surat that attracted over 100 industry members, outlined the objectives of the trade show. The event is designed to be inclusive, welcoming various participants such as private labels, distributors, e-commerce entities, overseas buyers, wholesalers, exporters, and retailers.
Based in Mumbai, the CMAI plays a crucial role in promoting India's clothing manufacturing sector and regularly organizes notable trade shows like the National Garment Fair and Bharat Tex. The upcoming 'Fabrics, Accessories, and Beyond' trade show aligns with the organization's dedication to advancing and championing the nation's garment manufacturing industry.
The world's love affair with denim took a fascinating turn in 2023, with some countries strutting in stylish new threads while others faced a wardrobe re-think. Let's unravel the tale of who soared and who slumped in the global denim trade, both exports and imports, and the reasons behind the sartorial shift.
Exports: Top Winning Countries
• Bangladesh: The undisputed denim king held his crown tight, weaving a 12% export surge. Skilled workers, robust infrastructure, and savvy trade deals kept the Bangladeshi looms humming.
• Vietnam: Making a powerful comeback, Vietnam saw a 9% rise. Government initiatives, automation investments, and a shift to high-end denim revitalized the Vietnamese jeanswear scene.
• Egypt: The surprise contender! Egypt's 8% jump was fueled by competitive prices, a focus on sustainable production, and strategic partnerships with European labels.
Top Losers
• China: The long-reigning king lost some shine, facing a 4% decline. Rising labor costs, environmental concerns, and Southeast Asian competition unraveled China's dominance.
• Turkey: Economic headwinds caused Turkey's exports to dip by 5%. Inflation, currency woes, and regional instability dampened the once-thriving Turkish denim industry.
• Mexico: Despite its US proximity, Mexico's exports shrunk by 6%. Domestic market saturation and increased competition chipped away at its export share.
Imports : Top Winning Countries
• United States: The denim-hungry US remained the import king, with a steady 5% rise. A diverse consumer base and competitive global prices kept the import engines running.
• Japan: Seeking quality and innovation, Japan's imports jumped 6%. High-performance jeans with unique washes and sustainable features from Turkey and Japan itself fueled this rise.
• Germany: Europe's fashion capital maintained its allure, with German imports increasing by 4%. Functional yet stylish jeans and strategic partnerships with countries like Bangladesh and Egypt boosted their denim game.
Top Losers
• China: Domestic production and a focus on homegrown brands led to a 3% decline in Chinese denim imports. Consumers embraced locally-made jeans.
• Brazil: Economic woes caused Brazil's imports to shrink by 4%. Currency fluctuations and rising domestic costs made foreign jeans less attractive.
• Russia: Geopolitical tensions and sanctions caused a 7% import plunge. Diversification towards alternative suppliers is underway, with a focus on practical and durable jeans.
The Change Drivers:
Sustainability, ethical practices, and innovative fabrics are the new currency in the global denim trade. Evolving fashion trends, trade dynamics, and online shopping will continue to reshape the denim export and import landscape. As the needle of change threads through the industry, new patterns will emerge, creating a captivating narrative to watch unfold in the years to come.
Currently valued at $71.23 billion, the global jeans market is expected to grow at 6.31 per cent CAGR from 2023-29 to reach $109.32 billion by 2029.
By 2029, the online sales channel segment is anticipated to grow at the fastest rate of 11.2 per cent. The growth will be driven by the rise in participants and the popularity of e-commerce sites that offer a large selection of products, such Myntra, Amazon, Alibaba, and Flipkart.
Additionally, during the projected period, sales through online channels are anticipated to increase in tandem with the growth in internet and smartphone users.
With a share of 57.23 per cent in 2022, the men’s end-user segment dominates the market. However, the women's segment is also anticipated to expand at a CAGR of 3.61 per cent over the forecast period, as women’s demand for jeans over other clothing items increases.
The Lenzing Group, a prominent player in wood-based specialty fibers, recently organized 'The Lenzing Conclave' in Jaipur in collaboration with the Garment Exporters Association of Rajasthan (GEAR).
The event served as a focal point for Jaipur's garment makers to explore sustainable practices and cutting-edge innovations. With a spotlight on sustainability, circularity, and traceability, manufacturers in Jaipur are actively seeking supply chain solutions aligned with progressive standards.
Lenzing showcased its flagship fiber brands, such as TENCEL and LENZING ECOVERO, including advanced options like LENZING ECOVERO black fibers. The conclave facilitated discussions on global consumption trends, emphasizing the need for supply chain solutions enabling Jaipur's garment exporters to seamlessly integrate Lenzing's innovations.
The event featured an extensive product display, spotlighting Lenzing's commitment to innovation and sustainability across diverse textile applications. GEAR's adaptation to international trends was also showcased. Zakir Hussain, President of GEAR, underscored the importance of collaboration and value-driven sustainable ingredients, aligning with Lenzing's ethos.
Avinash Mane, Senior Commercial Director of AMEA & NEA region, Textiles Business, Lenzing Group, expressed optimism about the successful convergence of innovation and sustainability at 'The Lenzing Conclave,' envisioning a transformative journey toward sustainable, value-driven textile solutions.
The event marked a pivotal moment for Lenzing and Jaipur's garment industry, fostering a continued partnership shaping the global textile landscape.
In a significant rebound from pandemic lows, British Wool reports a robust 20% surge in prices during recent auctions, signaling a remarkable recovery. The surge is attributed to escalating global demand for British wool, buoyed by the entry of three major buyers at the auctions.
Graham Clark, Director of Marketing, notes the overall improvement in demand and prices, emphasizing a 20% rise, with specific sought-after types gaining 15p to 20p per kilo. The auctions are experiencing heightened competitiveness, attracting new buyers in recent years.
Additionally, British Wool has strengthened its brand licensing scheme, collaborating with 130 global brands, amplifying the utilization of British wool in their products.
While challenges persist in the UK's retail sector, positive market shifts, particularly in contract carpets and Chinese exports, are seen as encouraging signs.
British Wool anticipates this upward trend to persist into 2024, offering optimism for member returns.
The Indian Green Building Council (IGBC) has certified the Noida unit of Maral Overseas as an IGBC Green Factory Building. The unit has been granted Gold’ rating by the Council.
One of the leading apparel export units in India, Maral Overseas works with prestigious buyers like Adidas (India) and overseas clients.
The factory is spread across 1.5 lakh sq ft, and has a 225 KW solar plant, ETP with the capacity of 50 KLD. It operates on PNG completely and its
The factory operates completely on PNG and is equipped with a washing unit comprising machines with low liquor ratio. On the other hand the screen printing section uses label 3 chemicals.
The unit has automatic cutting machines and around 700 stitching machines producing knitted garments.
Abhay Pathak, AGM HR, Admin, Project & Sustainability, says, the award is a testament to the dedication and hard work of the team in creating a sustainable future for generations to come.
The 70th edition of the India International Garment Fair (IIGF) will be held from Feb 26- 29, 2024 in New Delhi. To be organised as a part of the global textile show, Bharat Tex 2024, the event will focus on sustainability in fashion, and will be supported by the government’s Ministry of Textiles.
To be held at Bharat Mandapam and Yashobhumi in New Delhi, IIGF will focus on product categories comprising menswear, womenswear, children’s wear, and fashion accessories. The trade show will be attended by both manufacturers and suppliers of traditional, ethnic, fusion, and western wear.
This year, IIGF has introduced a number of features including up to four night’s complimentary hotel stay, lunch at the trade show venue for four days, and airport and venue transfers. Over 300 exporters are scheduled to participate in the the trade show that will showcase a diverse array of India’s fashion offering to global wholesalers and retailers.
