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ITMA ASIA + CITME, scheduled for October 28-31, 2025, at the Singapore Expo, has attracted a significant response from global technology providers, aiming to support textile modernization in South and Southeast Asia. As of the November 12 application deadline, 98 per cent of the 60,000-square-meter exhibit space has been claimed by 731 applicants representing 32 countries.
Organized by CEMATEX, the China Textile Machinery Association (CTMA), and CCPIT TEX, this year’s event is hailed as the region's premier platform for showcasing textile technology advancements. Lieven Beke, Marketing and Product Manager at Picanol, emphasized the importance of the exhibition, noting its influence on the Asian market for introducing cutting-edge innovations.
CEMATEX President Alex Zucchi noted that demand for the 2025 exhibition has exceeded expectations, emphasizing that the event’s focus on automation and sustainable solutions aligns well with the region's rapid growth and modernization. CTMA President Gu Ping added that the exhibition will provide a vital opportunity for manufacturers in South and Southeast Asia to access advanced technologies.
North Asian industry leaders, including Japan Textile Machinery Association (JTMA), Korea Textile Machinery Association (KOTMA), and Taiwan Association of Machinery Industry (TAMI), are also actively participating, further reinforcing the exhibition's regional impact.
Among the various sectors represented, finishing technologies lead in participation, followed by spinning and knitting, reflecting a strong emphasis on sustainability in textile manufacturing. John Wu, Marketing Director at Texpro Precision Technology, shared his enthusiasm for showcasing digital dyeing and finishing solutions designed for sustainable production, recognizing the event as an essential venue to meet regional demand.
The exhibition is expected to provide a platform for meaningful industry connections and advancements tailored to the unique needs of Asia’s growing textile hubs.
Powerloom weavers in Tamil Nadu have urged Chief Minister MK Stalin to address their concerns regarding a proposed Quality Control Order (QCO) on viscose rayon staple spun yarn with the Central Government.
According to the Tamilnadu Federation of Powerloom Associations, no other country imposes QCOs on textile products. The entire viscose textile chain has been negatively affected since the introduction of the QCO on viscose fibre last year.
Tamil Nadu houses nearly 25 lakh powerlooms, with two lakh transitioning from cotton to viscose weaving in recent years. These powerlooms utilise around 70 per cent of the viscose staple yarn produced by over 80 textile mills in the region.
Due to the state’s monopoly in the production of viscose rayon staple cut fiber, mills have faced shortages, compelling them to import fiber costing Rs 25 per kg less than domestic options. However, last year's QCO on viscose fiber restricted these imports, slowing down the entire viscose textile industry.
In Sep’24, the Central government announced plans to extend the QCO to viscose yarn. With an already sluggish market, many powerlooms have been sold as scrap, and the QCO on yarn threatens to deal another heavy blow to weavers in the state.
The Federation has called on the Chief Minister to appeal to the Central government to remove QCOs on textile products to support the struggling powerloom sector in Tamil Nadu.
To boost the company’s production capacity by 4,550 tons annually, Bangladesh-based textile manufacturer Envoy Textiles plans to set up a new spinning unit with an investment of Tk97 crore. Slated to complete by Dec’25, the expansion will help the company meet the rising demand for cotton-polyester-spandex core-spun yarn.
The new unit will feature advanced ring spinning production facilities with machinery sourced from Europe and Japan. Approximately 60 per cent of the yarn produced in this expanded facility will be used to produce denims while the remaining 40 per cent will be designated for exports.
Tanvir Ahmed, Managing Director. Envoy Textiles, states. the new spinning unit will more than double the company’s blended yarn capacity from 4,380 tons per year (12 tons per day) to 9,125 tons per year (25 tons per day).
For Q1, FY25 spanning July-Sep’24, Envoy Textiles increased its profit by 134 per cent Y-o-Y. The company’s net profits rose to Tk25.33 crore, up from Tk10.82 crore in the same period last year. The company’s revenues also increased by 40 per cent to Tk439.94 crore during the quarter.
At the 132nd SLSWCA meeting led by the Chief Secretary, the Odisha Government approved a landmark initiative by Odisha Textile Manufacturing (OTM) to set up the first Greenfield spinning mill in decades in the state. The development will not only support the local cotton sector and address the mounting issue of textile waste but also position Odisha as taking a significant step towards toward environmental sustainability.
Launched with an aim to manage post-industrial and municipal textile waste, this advanced facility reduces the dependency on landfills and incineration. OTM plans to incorporate innovative recycling technologies in partnership with Balkan Textile Machinery of Turkey and Trützschler of Germany—leaders in textile waste recycling and spinning preparatory equipment, respectively. Additionally, the company is negotiating with the Switzerland-based Saurer AG to introduce the latest rotor and ring spinning technology, ensuring state-of-the-art operations.
Trützschler recently developed a ring yarn made of 60 per cent pre-consumer waste with a fashion company, a milestone OTM aspires to replicate in Odisha. The spinning mill will also benefit Odisha’s farmers by boosting demand for locally grown cotton and adding value to a resource that has long been underutilised in the region. This initiative not only supports the textile industry but also contributes to the agricultural sector by sourcing cotton directly from local farmers.
The project is expected to play a pivotal role in building an environmentally responsible and sustainable textile industry in Odisha, while providing essential support to local governments grappling with waste management. By creating jobs and stimulating growth across the textile and agricultural sectors, it will also contribute significantly to Odisha’s economic development.
While China's economic growth slows, international fashion brands are setting their sights on new Asian markets. India and Japan, with their unique strengths and growing economies, are poised to become major players in the global fashion scene.
India: The mid-market's new darling
India's rapid economic growth and burgeoning middle class are making it a focal point for fashion brands, particularly in the mid-market segment. With a projected growth rate of 12 to 17 percent in 2025, India's fashion market is set to outpace the global average significantly.
"India is a unique country which has both sourcing as well as consumption capacity," says Nandita Sinha, CEO of Myntra, India's leading fashion e-commerce platform. "This is where the value for international brands becomes extremely lucrative, where they can reach out to this large base of customers in a manner that taps into the supply potential of the country as well."
However, entering the Indian market requires careful consideration. International brands must overcome infrastructure challenges, navigate complex regulations, and adapt to local consumer preferences, which often favour traditional wear and fusion styles.
Japan: The luxury market's shining star
Japan's luxury fashion market is experiencing a remarkable boom, fuelled by a weak yen and a surge in tourism. In the first half of 2024, the market grew by 25 to 30 percent, attracting luxury shoppers from around the world.
"The crucial point here is we try to find the customers again and again that fit our model," says Michael Kliger, CEO of Mytheresa, a leading online luxury retailer. "In-person events for top customers are one of Mytheresa's primary sales drivers."
With tourism spending expected to reach almost $100 billion by 2030, Japan's luxury market is set for continued growth. However, brands must adapt to local preferences for personalized services and curated experiences to fully capitalize on this opportunity.
|
Retail Sales Growth |
India |
Japan |
US |
Europe |
China |
|
Non-luxury |
12 to 17% |
3 to 4% |
2 to 4% |
2 to 4% |
|
|
Luxury |
15 to 20% |
8 to 12% |
3 to 5% |
1 to 3% |
-3 to 0% |
A new era for fashion in Asia
As India and Japan take centrestage, the fashion industry must rethink its approach to these dynamic markets. Localizing go-to-market strategies, building robust omnichannel capabilities, and understanding the nuances of each market will be crucial for success.
The rise of India and Japan presents a unique opportunity for the global fashion industry. By embracing these Asian growth engines, brands can unlock new avenues for growth and innovation, shaping the future of fashion in Asia and beyond.
The global polyester market is showing signs of strain as exports demand softens. This trend is evident in recent data from China, a major player in the polyester industry. Chinese customs data reveals that while September 2024 polyester exports increased year-on-year, they experienced a significant month-on-month decline across all categories. This downturn reflects a broader global trend, with weakening demand observed in key markets.
China's September slump
As reported in the ‘September polyester exports decline across the board’ story, China witnessed a significant month-on-month decline in polyester exports across all categories. While year-on-year growth remained positive for most products, the September figures revealed a concerning trend.
Table: China’s declining exports
|
Product Category |
September 2024 Exports (KT) |
Year-on-Year Change (KT) |
Month-on-Month Change (KT) |
|
PFY |
295 |
-74 |
-31 |
|
PSF |
105 |
5 |
-17 |
|
PET fiber chip |
90 |
13 |
-18 |
|
PET bottle chip |
435 |
75 |
-68 |
|
BOPET |
56 |
8 |
-7 |
|
Total |
981 |
27 |
-141 |
China's September polyester exports totalled 981,000 tons, a 27,000-ton increase year-on-year but a substantial 141,000-ton decrease from August. This decline was observed across all product categories, including polyester filament yarn (PFY), polyester staple fiber (PSF), PET fiber chip, PET bottle chip, and biaxially oriented polyethylene terephthalate (BOPET) film.
There were several reasons for a drop in exports. The slowdown in China's economy is a significant reason. Reduced consumer spending and manufacturing activity within China have dampened domestic demand, impacting both production and export volumes.
Additionally, the global economic slowdown is impacting demand from key export markets. Rising inflation and recessionary fears in major economies like the US and Europe have led to decreased consumer spending on non-essential goods, including textiles and apparel, which are major end-uses of polyester. Furthermore, fluctuations in the RMB exchange rate have created uncertainty in the market, making international buyers hesitant to commit to large orders. This cautious sentiment was particularly evident during August and September when the RMB experienced significant volatility.
India's polyester industry
Much like China, India, another major player in the polyester market, is also experiencing challenges. While specific export data for September is not available, industry reports suggest a similar trend of declining exports and increasing imports. The reasons are varied.
Impact of Turkiye's safeguard measures: Turkiye's decision to extend safeguard measures on polyester staple fibers has impacted Indian exports, leading to a loss of trade.
Quality Control Order (QCO) on imported yarn: The Indian government's QCO mandating BIS certification for imported yarn has led to a decline in cheaper polyester yarn imports from China.
Minimum import price (MIP) on synthetic knitted fabric: The imposition of an MIP has further restricted imports of cheaper polyester fabric from China.
Overall, the slowdown in the Chinese and Indian polyester markets reflects a broader global trend. The International Textile Manufacturers Federation (ITMF) reports a decline in global textile production and exports in recent months.
It says the pace of global economic recovery will significantly impact demand for polyester products. Crude oil prices also impact polyester as a key raw material in its production any fluctuations in crude oil prices can affect production costs and profitability. Meanwhile, growing awareness of the environmental impact of polyester is driving demand for recycled and sustainable alternatives. And innovations in polyester production, such as bio-based and biodegradable options, are expected to shape the industry's future.
Future market outlook
The immediate future outlook for the polyester industry remains cautious. The ongoing global economic slowdown and uncertainty in key markets suggest that demand may remain subdued in the near term. However, there are some potential bright spots. If China's economy recovers faster than anticipated, it could boost domestic demand and potentially revitalize export activity. The ongoing diversification of global supply chains away from China could present opportunities for other polyester-producing countries, including India, to increase their market share. And the development of new applications for polyester, particularly in high-value sectors like technical textiles and non-woven fabrics, could drive future growth.
Overall the decline in polyester exports is a reflection of the challenges facing the global economy. While the near-term outlook remains uncertain, the industry's long-term prospects will depend on factors such as global economic recovery, shifting supply chains, and innovation. Both China and India, as major players in the polyester market, will need to adapt to these changing dynamics to maintain their competitiveness in the global arena.
YKK Corporation’s 2024 Integrated Report highlights significant strides toward sustainability, with a strong focus on climate neutrality, environmental stewardship, and resource conservation.
Since 2018, YKK has reduced its greenhouse gas emissions by over 56 per cent, including both direct (Scope 1+2) and supply chain (Scope 3) emissions. The company also achieved a 22 per cent reduction in water consumption and boasts a 91.9 per cent waste recycling rate across its operations.
Noteworthy achievements include the expansion of renewable energy use, with 37 facilities now operating on 100 per cent renewable energy, and a 38 per cent increase in sustainable material sourcing, up 12 percentage points from the previous year. YKK has also launched the Revived Renewal Series to enhance product longevity, and developed in-house recycling technology for copper and zinc alloys used in zippers.
The company’s updated Sustainability Vision 2050 strengthens its commitment to three key areas: climate change mitigation, biodiversity protection, and resource recycling. YKK's dedication to biodiversity was recognized with the designation of YKK Center Park’s Furusato-no-Mori as a Nature Coexistence Site.
Looking ahead, YKK plans to accelerate its sustainability initiatives across its supply chain, collaborating with partners to address environmental challenges in the garment industry. The company is also committed to chemical management improvements and further reductions in water intensity, while ensuring compliance with global standards for material safety.
YKK’s ongoing efforts showcase its leadership in corporate sustainability and environmental responsibility.
Spring Fair, the UK’s premier home, gift, and fashion trade show, has introduced an exciting new feature for its 2025 edition, the Licensing Lab. Running from February 2-5, 2025, at NEC Birmingham, the Licensing Lab is developed in partnership with Fabacus and Licensing International. It aims to create an exclusive space for the UK’s thriving licensing industry to connect, collaborate, and celebrate innovation.
Designed by Llewelyn-Bowen Design, the Licensing Lab will feature a Networking Lounge equipped with stylish, custom-designed furnishings. This space will serve as a comfortable environment for informal discussions, meetings, and educational sessions, providing a hub for licensors, licensees, and retailers.
Programming will include workshops, panels, and seminars by industry experts, covering key topics such as licensing trends, marketing strategies, and legal guidance. Additionally, interactive displays will showcase product samples, live demos, and trends to engage attendees.
With 61 per cent of the show’s 38,000 visitors expressing interest in licensed products, the Licensing Lab promises to be an impactful addition, supporting knowledge sharing and business growth. It also highlights the UK’s independent retail sector, valued at £66.3 billion and making up 30 per cent of the market, as a crucial audience for the licensing industry.
Soraya Gadelrab, Event Director at Spring Fair, emphasized that the Licensing Lab will enhance the event experience and drive growth within the sector. Steve Manners of Licensing International added that this partnership marks Spring Fair’s 75th anniversary with a commitment to industry evolution, providing education and resources for attendees to elevate their licensing strategies.
The US consumer price index (CPI) for garments increased by 1.1 per cent in October, marking a rebound after months of price declines, according to Cotton Incorporated. Clothing prices now stand 7.6 per cent above 2019 levels, reflecting sustained inflation following initial Covid-19 price drops.
While import prices for cotton-based apparel have stabilized at around $3.70 per square meter equivalent (SME), they remain higher than pre-pandemic levels, which averaged $3.45/SME in 2019. This stability may impact future retail prices as the apparel sector navigates a changing economy, Cotton Incorporated noted.
Consumer confidence also improved, with the Conference Board’s Index reaching 108.7 in October, its highest since January 2024. Consumer spending overall rose 0.4 per cent month-over-month and 3.1 per cent year-over-year in September. Apparel spending mirrored this trend, increasing 0.4 per cent month-over-month and 1.7 per cent year-over-year, though it has slowed since July.
Global growth projections from the International Monetary Fund (IMF) remain steady at 3.2 per cent for 2024 and 2025, with the US economy outperforming at forecasted rates of 2.8 per cent and 2.2 per cent respectively. However, job growth in October lagged with only 12,000 new positions added, partly due to Hurricane Helene and labor strikes.
A quiet crisis is brewing behind the gleaming facades of luxury fashion houses. While shoppers clamor for the latest It-bag or limited-edition sneakers, brands are discreetly wrestling with a growing mountain of unsold inventory. This excess stock, a by product of shifting consumer trends, economic uncertainty, and overproduction, presents a unique challenge for an industry built on exclusivity and aspiration.
A billion euro problem
The numbers are staggering. As per Business of Fashion (BoF), the combined unsold inventory of luxury giants Kering (Gucci, Saint Laurent) and LVMH (Louis Vuitton, Dior) has more than doubled between 2014 and 2023, reaching a worrisome €4.7 billion. This rise in unsold goods is a significant challenge for brands built on an image of scarcity and desirability. “Excess inventory is the antithesis of luxury," says Luca Solca, senior research analyst at Bernstein. "It erodes brand equity and can lead to discounting, which further damages the perception of exclusivity."
Table: The unsold luxury burden
|
Company |
Unsold inventory (2023) |
% of revenue |
|
LVMH |
€3.2 billion |
4% |
|
Kering |
€1.5 billion |
8% |
|
Total (LVMH & Kering) |
€4.7 billion |
N/A |
Source: Business of Fashion
These figures, show doubling of unsold inventory since 2014 for these luxury giants, paint a stark picture. The problem extends beyond finished products to include raw materials and semi-finished goods, tying up valuable capital and creating logistical headaches.
Why the excess?
There are several reasons for this growing surplus.
• The fickle xonsumer: Luxury shoppers, particularly younger generations, are increasingly influenced by social media trends and micro-seasons, leading to shorter product lifecycles and unpredictable demand.
• Economic headwinds: Global economic uncertainty, including inflation and recessionary fears, has dampened consumer spending, even among high-net-worth individuals.
• Overproduction: In a bid to meet anticipated demand and maintain exclusivity, brands often overestimate production, leading to excess stock when sales fall short.
• Supply chain disruptions: The lingering effects of the pandemic, coupled with geopolitical instability, have created supply chain bottlenecks, leading to delayed deliveries and mismatched inventory.
"The challenge is to anticipate demand accurately in a rapidly changing market," says Solca. "Luxury brands are walking a tightrope between maintaining exclusivity and managing inventory effectively." Many brands have faced issues with surplus. In 2018, Burberry faced intense criticism for burning millions of pounds worth of unsold goods. While the brand claimed this was done to protect intellectual property and prevent counterfeiting, the incident highlighted the ethical and environmental concerns surrounding excess inventory. Since then, Burberry and other luxury brands have pledged to find more sustainable solutions.
Strategic responses
To deal with the problem, luxury brands are exploring various strategies to address this challenge, each with its own set of considerations. Some are opting for discreet price reductions through private sales or outlet stores help move excess inventory without overtly impacting brand image. Also, repurposing unsold materials and products into new designs or limited-edition collections minimizes waste and adds a sustainable element. Most of them are investing in advanced analytics and AI-powered tools to better predict demand and optimize production. And partnering with luxury consignment platforms or launching in-house resale programs to tap into the growing secondhand market is another way out for brand.
Many luxury brands are exploring various strategies to manage their unsold inventory. Moves like discreet sales and private shopping events for VIP clients; offloading excess stock at discounted prices in dedicated outlets, often located far from flagship stores; donating unsold items to charities or repurposing them for other uses are some of these.
Despite these moves, luxury brands face significant challenges. For them maintaining brand image is crucial as discounting or donating goods can dilute brand value and exclusivity. Also they have to cope with the production and disposal of unsold goods that contribute to environmental problems like waste and pollution. Destroying unsold goods raises ethical questions about waste and resource consumption.
Indeed, the growing inventory glut is a wake-up call for the luxury industry. Brands need to find a balance between meeting demand and preserving their image of exclusivity. This will require a shift towards more sustainable practices, including responsible production, innovative recycling solutions, and a greater focus on customer relationships. “The future of luxury lies in creating timeless pieces that customers will cherish for years to come," says Claudia D'Arpizio, a partner at Bain & Company. "This means moving away from the relentless pursuit of newness and embracing a more circular approach to fashion."
