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The fashion industry in GCC states continues to maintain a positive momentum attributed to key factors in influencing the market like robust economic growth, rising purchasing power, growing population comprising a large proportion of expatriates, changing consumer patterns and increasing penetration of international retail players.
The Gulf is also gearing to host events such as the World Expo 2020, leading to a growing influx of tourists and creating immense opportunities for existing and new retailers in the region.
Products are now launched in the Gulf at the same time as the West - to the minute including special lines for the Gulf customers in terms of sizes, cuts, shades and scents.
UAE ranks 3rd largest country in terms of apparel and textile exports and is among the largest sector of the Middle East
German safety and quality assessment lab TUV SUD has expanded its textile testing laboratory in Tirupur with the offer of chemical testing services for all textile businesses in the knitwear hub. The one-stop testing services would now be available across the neighbouring regions including Karur, Salem and Erode. The facility is fully equipped to provide comprehensive textile, apparel and home furnishing testing services.
With its wide network of labs and experts across key markets including south Asia, European Union, ASEAN, the US and the UK, TV SD has in-depth familiarity with compliance in exporting and importing nations.
The all-inclusive capabilities of the laboratory will cater to manufacturers and exporters carving a niche for Indian knitwear products in global and domestic markets.
The facility is fully equipped to provide comprehensive textile, apparel and home furnishing testing services. TUV SUD will be able to assist manufacturers in improving production processes, optimising costs and reducing risks and defects by ensuring their products' compliance with the guidelines.
According to Forbes' Global 2000 list, French fashion empire Christian Dior, incepted in 1947, has retained its position as the world’s largest retailer focused on clothing, shoes and accessories.
The high-end retailer witnessed its sales rise by double digits last year to a record-breaking 44 billion euros ($49 billion).
This makes it the 150th largest company on the Global 2000 list of the world’s biggest and most powerful public companies, as measured by a composite score of revenues, profits, assets and market value.
The fashion house benefits from a 41% stake in LVMH, the French luxury empire that owns 70 brands including Louis Vuitton, Dom Pérignon and Sephora. LVMH, which is run by French billionaire Bernard Arnault (net worth: $86 billion), in turn wholly owns Christian Dior.
The companies have had a complicated ownership structure for years, with LVMH acquiring the remaining portion of Christian Dior that it didn't already own last year in a $13 billion deal.
Sri Lanka is hoping to convince India to remove the existing quota system for the apparel industry and instead requesting a US$500 million worth trade deal.
Negotiations are currently underway between the two sides to ascertain whether the existing quota system for the sale of garments to India that is limited to eight million pieces annually worth $30 million could be altered to a higher $500 million worth, value-based system.
These negotiations are said to be part of the Economic and Technological Cooperation Agreement (ETCA) discussions between Sri Lanka and India.
Sri Lanka Apparel Exporters Association (SLAEA) Chairman Felix Fernando told the Business Times that the industry has already exhausted this year’s quota and the reason why changes to the system is being requested.
Industry analysts opine it was a doubtful agreement to pull through and noted that negotiations were still underway in this regard.
India’s burgeoning middle class has an eye on branded apparels and in this respect Sri Lanka has a market to cater to for a segment that is increasingly looking at quality purchases.
Ready-made garments (RMG) manufacturers in Bangladesh will henceforth have to pay a higher corporate tax as the government has proposed to raise the tax rate from 12 per cent to 15 per cent for the 2018-19 fiscal years.
However, certified green factory owners will enjoy a 3 per cent rebate and pay 12 per cent, while publicly traded RMG manufacturers will have to pay 12.5 per cent.
The apparel sector enjoys various incentives and tax benefits such as the current withholding tax rate of 0.7 per cent on RMG exports.
The industry plays an important role in generating employment and fostering economic growth. Taking this fact into consideration, the readymade garments sector has been given special tax incentives.
According to BGMEA sources, 67 Leadership in Energy and Environmental Design (LEED)-certified factories have been operating in Bangladesh. Among these, 13 have received platinum status, 20 gold status and 34 silver status.
Ricoh launched two new RICOH Ri 3000 and Ri 6000 Direct to Garment (DTG) printers at FESPA 2017.
The highly productive RICOH Ri 3000 and Ri 6000 systems enable print providers to have more flexible, cost-effective and dynamic customer offerings by providing high quality digital printing in the traditionally analogue garment printing segment.
The Ricoh DTG printers are ideal for promotional printing on items like T-shirts, cloth bags, hoodies, sweatshirts and socks. The RICOH Ri 3000 and Ri 6000 can print on a wide range of materials ranging from 100 per cent cotton and 100 per cent light polyester to mixed (polyester) garments up to 50/50 blends.
The new Ricoh DTG range also includes the Ricoh Ri 3000 and Ri 6000 printers, designed to meet the needs of established garment-printing businesses. Both can print a wide range of materials from 100 per cent cotton and 100 per cent light polyester to mixed cotton fabrics with up to 50/50 blends.
Ricoh empowers digital workplaces using innovative technologies and services enabling individuals to work smarter.
For the first quarter, PVH revenues increased 16 per cent compared to the prior year period. On a constant currency basis the increase was ten per cent.
The effective tax rate on a GAAP basis was 17.1 per cent as compared to 17 per cent in the prior year period. Inventory levels increased 22 per cent as compared to the prior year period due to a shift in the timing of inventory receipts as a result of the 53rd week in 2017 and an expected increase in second quarter of 2018 sales as compared to the prior year period.
PVH, an American clothing company, experienced broad-based strength across its businesses globally and its performance underscored the power of its diversified business model and the continued momentum in its global designer lifestyle brands, Calvin Klein and Tommy Hilfiger.
Revenue in the second quarter of 2018 is projected to increase ten per cent (nine per cent on a constant currency basis) compared to the prior year period.
For full year 2018, revenue is projected to increase approximately six per cent (approximately five per cent on a constant currency basis) as compared to 2017.
PVH is in a powerful position to deliver a sustainable trajectory of long-term growth and stockholder value creation.
Stony Brook, NY based Applied DNA Sciences aims to provide innovative, molecular-based technology solutions and services that can help protect products, brands, entire supply chains, and the intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion.
The company’s proprietary CertainT platform can be used to tag, test, and track products, to help assure authenticity, origin, traceability, as well as the quality of products. Unique molecular SigNature tags are the core technology ingredient of the Applied DNA Sciences’ family of security and authentication solutions.
SigNature T is the product name under the tag module when applied to textiles. It provides a forensic chain of evidence and can be used in a court of law if legal action is required. SigNature T has been used to tag over 150 million pounds of US Pima and Upland cotton under two new brands – PimaCott and HomeGrown Cotton.
Fendi has appointed Giuseppe Oliveri as managing director of retail and wholesale.
This means Giuseppe Oliveri is leaving his role as general manager of Dior China and returning to his homeland Italy.
Oliveri began his career in banking, before moving into retail with Italian group Benetton, followed by a stint at Stefanel in Hong Kong. From there, he became general manager of Versace’s Asia-Pacific region, before heading over to lead Dior’s Chinese operations in 2015.
Sales at LVMH, whose 70 brands range from Dom Perignon champagne to fashion houses like Fendi and Givenchy, rose 11 per cent between October and December on a like-for-like basis. Operating income for the whole of 2017 was up 18 per cent from a year earlier.
In Hong Kong, Fendi has more than 200 employees with seven stores in Landmark, Times Square, Pacific Place, Canton Road, Harbour City, DFS Sun Plaza and Elements.
In the Asia Pacific region, Fendi also has locations in Macau, Taiwan, Korea, Singapore, Malaysia, Thailand and Australia. The brand employs over 2500 employees worldwide.
Oliveri’s predecessor, Charles Delapalme, recently left to take over Dior’s commercial activities, a role in which he succeeds Serge Brunschwig, who is now CEO at Fendi, following Pietro Beccari’s appointment at the head of Dior.
New Zealand-grown merino wool is increasingly being sought by Devold- a high-end Norwegian merino clothing company.
Devold produces a range of clothing from 100 per cent merino wool, including base layers, mid layers, socks, scarfs and jackets.
While Australia was initially Devold's main supplier, the company now receives greater volumes from New Zealand. It uses three main micron types: 17.5 micron for base layers against the skin, 18.7 for jumpers and mid layers and 20.5 for jackets and outerwear.
Devold garments have full traceability, with each one detailing the property the wool came from in a special sheep-to-shop programme. Each grower's clip is processed separately at the company’s mill in Lithuania and these garments are 100 per cent from that individual property.
