In January 2024, India’s textiles exports declined by-1.18 per cent compared to the previous year, show figures from the Confederation of Indian Textile Industry.  Apparel exports saw a more significant decline of-3.46 per cent during the same period. Cumulative exports of textiles and apparel declined by -2.29 per cent in January 2024 compared to January 2023.

From April 2023 to January 2024, India’s textiles exports showed marginal growth, of 0.15 per cent over the preceding year. However, apparel exports declined by-13.14 per cent during the same period. Cumulative exports of textiles and apparel declined by -5.87 per cent from April 2023 to January 2024 compared to the corresponding period from April 2022 to January 2023.

Confederation of Indian Textile Industry (CITI) is the only National Association that covers the entire spectrum of the textile and clothing industry spanning domestic and exporting unit, including regional and sectoral associations from farms to garments and even textile machinery. CITI has signed MOUs with 13 major International Textile Associations for the promotion of textiles trade and investment. It, directly and indirectly, serves an industry that connects to millions of farmers, 100 million plus workforce, and 1.3 billion consumers. The cumulative annual turnover of CITI members is around $30 billion i.e. over Rs.2 lakh crore.

All-Pakistan Textile Mills Association (APTMA) has advocated for increased collaboration with China to help Pakistan reach its ambitious exports goal of $50 billion annually by 2029.

Representing over 223 textile companies, APTMA believes that stronger ties with China can significantly enhance Pakistan’s export earnings.

Pak-China cooperation in textiles is essential to exhibit complementary advantages across various sectors, offering a robust framework for mutual growth, states Shahid Sattar, Secretary General, APTMA. 

Supported by initiatives like the Belt and Road Initiative (BRI) and the China-Pakistan Economic Corridor (CPEC), this strategic alliance has had a significant impact on Pakistani firms accessing the Chinese market.

Pakistan's exports of goods and services to China surged by 40.01 percent during the first half of the current fiscal year 2023-24 compared to the corresponding period last year, as per the State Bank of Pakistan (SBP), underscoring a notable achievement and the deepening economic relations between the two countries.

Furthermore, China’s textile industry's is at the forefront in technological innovation and sustainability, highlights Sattar. The country advances in high-end manufacturing and pioneering innovations in synthetic fibers and eco-friendly manufacturing processes.

This dedication to innovation has established China as a leader in the global textile market, prioritising the production of higher quality, environmentally conscious products.

Pakistan is witnessing a significant shift towards ethical and sustainable fashion, embracing eco-friendly materials such as organic cotton and recycled fabrics, and blending traditional craftsmanship with modern designs. These efforts have been bolstered by substantial export growth during FY20-FY22.

However, significant opportunities for further collaboration remain, particularly in sustainable textile production, textile technology research and development, and joint efforts to explore new markets.

The potential disruption in the Red Sea presents a significant challenge for seasonal sales at prominent US and European fashion brands.

Abercrombie & Fitch and Gap Inc. stand out as major apparel retailers vulnerable to the rerouting of shipments around Africa. The shift in shipping routes, prompted by the crisis, poses risks of delayed deliveries for their spring-summer fashion collections, as highlighted in a report by Moody’s Investors Service.

Christina Boni, Senior Vice President-Corporate Finance, Moody's, emphasises the heightened exposure of seasonal goods compared to basic items. Late deliveries could lead to significant markdowns and excess inventories, particularly for European retailers heavily reliant on the Suez Canal for importing goods from Asia, he says. 

Notable brands such as Adidas and Next have already reported delays of up to three weeks for imports typically passing through the Red Sea. This surge in delays has led to increased costs, with freight rates more than doubling since the onset of the crisis.

The impact extends across various industries, including apparel, footwear, furniture, consumer electronics, and arts and crafts. Higher freight costs, though not immediately apparent, will eventually affect margins as contracts are renegotiated.

Larger companies with sophisticated supply chains are better equipped to pivot and negotiate priority with shipping companies. However, smaller retailers like At Home and Bob's Discount Furniture may face challenges due to lower demand and potential cost increases.

Despite the disruptions, some footwear brands like Crocs and Skechers have experienced minimal impact. While Crocs noted slight delays in their European business, they have not encountered significant changes in freight rates. Skechers, too, remains optimistic about its operations, having stocked up prior to the disruptions.

Moody's predicts that certain European labels, including Hugo Boss, Isabel Marant, and Golden Goose, may fare better due to local production and nearshoring initiatives. This crisis underscores the vulnerability of global supply chains and the growing interest in nearshoring to mitigate risks associated with distant imports.

Birla Cellulose has announced its plans to participate in Bharat Tex, scheduled to take place in New Delhi from February 26-29, 2024, at Bharat Mandapam. At the event, the company will showcase Birla EcoSoft, a bamboo viscose fiber renowned for its exceptional breathability, moisture management, and durability compared to conventional viscose. Sourced from sustainably managed forests, Birla EcoSoft sets new benchmarks for comfort in the fashion industry, reflecting the company's dedication to transparency and consumer trust.

Furthermore, Birla Cellulose will introduce its revolutionary Circular Yarn Blend crafted from recycled mechanical textile waste using cutting-edge technology. This breakthrough product boasts a remarkable 50 per cent mechanical recycled fiber content while maintaining high-strength yarn for various fabric and garment applications. The chemical-free, energy-efficient mechanical recycling process addresses environmental concerns, boasting minimal energy consumption, eco-friendliness, low greenhouse gas emissions, and reduced water usage. In-situ coloration eliminates the need for additional dyes or pigments, further minimizing the environmental footprint.

The company will also highlight its Carbon-disulphide Adsorption plant in Kharach, Gujarat that employs closed-loop technologies to mitigate carbon disulphide and hydrogen sulfide emissions. Another innovation by Birla Cellulose is Livaeco fibers that contain a unique molecular tracer for source verification across the value chain..

ManMohan Singh, Chief Marketing Officer, says, Birla Cellulose’s participation in Bharat Tex will enable the company to exchange new ideas and forge new partnerships with industry leaders.

Messe Frankfurt is expanding its presence in the rapidly growing Central Asian market by introducing three new textile events in Tashkent, Uzbekistan.

These exhibitions will encompass Heimtextil Uzbekistan for the home textiles sector, Texworld Tashkent for the fabric industry, and Apparel Sourcing Tashkent.

Messe Frankfurt sees Uzbekistan's strategic positioning at the crossroads of Europe and Asia as pivotal for trade facilitation and economic growth in neighboring countries and the broader region.

Wolfgang Marzin, CEO, Messe Frankfurt Group, says, the group’s move into Central Asia underscores the potential for increased global economic integration. The region serves as a bridge between Asia and Europe, aligning with China’s Belt and Road initiative aimed at fostering economic connectivity.

Uzbekistan's burgeoning consumer market, evolving political landscape, and favorable geographical location make it an appealing investment destination and trading partner.

Messe Frankfurt highlighted the region's potential amid evolving global supply chains and trade dynamics. Uzbekistan's government recognises the significance of investing in infrastructure to establish efficient transit routes, supported by initiatives like China's Belt and Road and Europe's commitment to diversify transport corridors.

Stephan Buurma, Board Member, Messe Frankfurt Group, emphasises, the group’s extensive sales network spanning 180 countries and regions positions it as an ideal partner for Uzbekistan to elevate its international standing. Uzbekistan's textile sector, already a major cotton exporter, presents opportunities for modernisation and investment.

Heimtextil Uzbekistan, Texworld Tashkent, and Apparel Sourcing Tashkent are scheduled to run concurrently from November 06-08, 2024.

Sympatex, the forefront supplier of sustainable high-tech functional materials, is set to revolutionize the footwear industry with its latest innovations. From February 20-22, 2024, at Lineapelle in Milan, the global stage for the leather and footwear sector, Sympatex will unveil two cutting-edge technologies, Moisture-Tech and Non-Woven.

Lineapelle, renowned for setting trends in the industry, provides the perfect platform for Sympatex to showcase its commitment to sustainability and technological prowess. Kim Scholze, CSMO at Sympatex, expresses enthusiasm about the event, highlighting Sympatex's dedication to creating eco-friendly yet high-performance membranes.

Moisture-Tech by Sympatex stands out for its rapid sweat absorption and quick drying properties, significantly reducing heat buildup in shoes by 45 per cent compared to other technologies, as demonstrated in the Heat Insulation Test.

Non-Woven by Sympatex offers unparalleled comfort while significantly reducing environmental impact. By replacing polyurethane foam with 100 per cent recycled polyester non-woven, Sympatex has slashed CO2 emissions by 10 per cent and water consumption by 15 per cent. Yasemin Malcolm, from Product Management at Sympatex, emphasizes the company's strides toward a mono-material and recyclable laminate, enhancing both sustainability and technical performance.

Sympatex's innovations signal a paradigm shift in the footwear industry, where sustainability and performance seamlessly converge, promising a greener and more comfortable future for footwear enthusiasts worldwide.

Seattle-based sustainable apparel brand, Arvin Goods has unveiled its latest socks collection crafted from Recover recycled cotton fiber. 

The newest launch showcases crew socks composed of 79 per cent recycled materials, with 43 per cent being recycled polyester and 36 per cent derived from 

Recover recycled cotton fiber. According to Recover, their proprietary recycled fiber is among the most environmentally friendly options available, significantly reducing the carbon and water footprint of the apparel supply chain. It's estimated that manufacturing just one pair of Arvin Goods socks made with 36 per cent Recover fiber saves up to 18 gallons of water compared to conventional cotton pairs.

Boris Mercier, SVP Marketing, Recover, avers, the brand’s continued collaboration with Arvin Goods stems from a shared dedication to circular fashion that upholds quality, comfort, and style. 

Dustin Winegardner, Managing Partner, Arvin Goods, adds, the company’s partnership with Recover and the Ferre family has been integral since its inception. It advances its mission to provide the ‘The Cleanest Basics on the Planet’ by sourcing materials from Spain and manufacturing in nearby Portugal.

Paqui Ferre, Director-Sales and Marketing Director, Ferre, adds, the company’s iconic FBlue yarn, known for its circularity, performance, and color accuracy is used by Arvin. This along with Recover recycled cotton addresses the growing demand for sustainably sourced yarns while offering vibrant colors for Arvin Goods products.

A prominent apparel manufacturer based in the United States, HanesBrands reported a 9.6 per cent decline in revenue to $5.63 billion during FY23 from $6.23 billion in FY22. 

The company’s sales during Q4 FY23 declined by 12 per cent to $1.3 billion compared to the previous year. On an organic constant currency basis, net sales experienced a decline of approximately 10 per cent.

The global Champion brand, a crucial segment for HanesBrands, faced a 23 per cent decrease in sales on a reported basis in Q4 FY23 and a 24 per cent decline on a constant currency basis compared to the prior year. Sales in the US saw a significant 30 per cent decline, while international sales decreased by 14 per cent on a reported basis and 15 per cent on a constant currency basis. Despite witnessing sales growth in China and Latin America, declines in Europe, Japan, and Canada overshadowed these gains, as stated by HanesBrands in a press release.

In Q4 FY23, gross profit amounted to $494 million, marking a slight decrease of about 2 per cent, while gross margin significantly improved by 400 basis points to 38.1 per cent. Adjusted gross profit stood at $495 million, with an adjusted gross margin of 38.2 per cent, indicating an improvement of nearly 395 basis points compared to the same quarter in 2022.

Operating profit and margin for the fourth quarter improved to $96 million and 7.4 per cent, respectively, up from $60 million and 4.1 per cent in the previous year. Adjusted operating profit increased to $111 million from $83 million in Q4 FY22, with the adjusted operating margin up approximately 295 basis points over the prior year.

In terms of segments, innerwear sales decreased marginally by about 1 per cent, while activewear sales experienced a 24 per cent decline. International sales decreased by 9 per cent, including a $6 million impact from unfavorable foreign exchange rates.

HanesBrands surpassed its 2023 inventory and operating cash flow goals, ending the year with inventory under $1.4 billion, exceeding the company’s $1.5 billion target and marking a 31 per cent year-over-year improvement in inventory management.

Steve Bratspies, CEO, says, though the company’s Q4 performance did not meet  expectations, it got several positive indicators that shows margins and leverage have reached a positive inflection point.

A specialised textile manufacturer from Dhaka, Bangladesh, NZ Denim launched a new range of low-impact denims fabrics for S/S 2025 during the last edition of Texworld held in Paris.

The company aims to expand its denim fabric range besides increasing its annual productive capacity from the present 36 million meter to 72 million meter by developing new weaves, new surface effects and lower impact materials.

Amongst the new styles launched by the company includes the pro-biotic denim fabric treated with biochemical based substances produced by Proclean, an Indian chemical company, used to age fabrics. The company has also dyed its fabrics with natural indigo substances by AMF Herbal, another Indian chemical company that develops bio-based and vegetable origin dyeing substances.

NZ Denim has also launched a new fabric made with 83 per cent cotton, 1 per cent spandex and 16 per cent Spinnova, a natural fiber developed by a Finnish company that obtains special cellulosic fibers from wood pulp through a mechanical process that requires no water and only uses a very low energy amount, mostly from solar power. 

Other products launched for the S/S 2025 collection include fabrics made with Tex2Tex Earth Protex, special polyester that can also be recycled through melting. It can be reused up to a 40 per cent percentage and can be added to virgin cotton for new denim and cotton fabrics.

A part of NZ Tex Group, NZ Denim is a vertical mill-setup including four integrated business units employing 7,000 workers. 

Through its different divisions the group produces dyed yarns and linen fabrics. As the only Bangladesh company manufacturing 100 per cent linen fabrics it exports to Belgium, France, Japan and Korea.

Colorado-based footwear company Crocs expects Q1 FY 2024 revenues to decline by 1.5 per cent Y-o-Y. The company plans to reinvest in several key areas as it continues to gain durable market shares. 

During Q4 FY23, Crocs; revenues increased by 1.6 per cent to $960 million Y-o-Y with direct-consumer-revenues increasing by 6.8 per cent. The company’s sales surged by 11.5 per cent to $4 billion during the quarter. 

By brand, Crocs revenues surged by 10 per cent to $732 million, while HeyDude revenues declined by 18.5 per cent to $228 millionfrom the same period last year.

During the three months, the brand’s net income grew to $253.9 million, up from $137.7 million, in the prior-year period.

Capped off by a strong fourth quarter that exceeded expectations across all metrics, Crocs Inc delivered a record year in FY23, says Andhrew Rees, CEO. The company’s revenues grew by 11 per cent to $4 billion underpinned by industry-leading operating margins and double-digit earnings per share growth. The brand 

Crocs grew across all regions and channels, highlighting the power of the company’s strategy and disciplined execution. The HeyDude Brand returned to a pull-market position resulting in improved gross margins and healthy inventory levels exiting the year, he adds.