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Laura Weir appointed BFC CEO, succeeding Caroline Rush, to drive British fashion growth, sustainability, and global influence.
The British Fashion Council (BFC) has appointed Laura Weir as its new Chief Executive Officer, effective April 28, succeeding Caroline Rush. Currently serving as the Executive Creative Director at Selfridges, Weir has extensive experience in fashion and media, including previous roles at ES Magazine, Elle UK, and Drapers.
Commending West’s strategic vision and her comprehensive understanding of the industry’s complexities, David Pemsel, Chairperson, BFC, emphasized on her ability to drive transformative initiatives that will shape the BFC’s future both in the UK and internationally.
Assuming the position at a critical time for British fashion, Weir says, she looks forward to working with the BFC team to champion culture and creativity, driving growth for British fashion on both a national and global scale. In her new role, plans to prioritize supporting emerging and established designers, strengthening the pipeline of British creative talent, and increasing the industry’s global influence.
Weir also emphasized on her commitment to tackle pressing issues like environmental sustainability, representation, and inclusion while fostering partnerships with both industry leaders and government bodies. Under her leadership, BFC will continue to focus on responsible growth through community engagement, innovation via the Institute of Positive Fashion, and global promotion through marquee events like London Fashion Week and the Fashion Awards.
Her appointment follows Caroline Rush’s remarkable 15-year tenure, during which she transformed the BFC into a strong and profitable organization. Rush successfully navigated significant challenges, including Brexit and the pandemic, helping the BFC achieve a turnover exceeding £12 million in the last fiscal year.
Reaffirming the Indian government’s commitment to expand its current textile market, Giriraj Singh, Union Minister of Textiles, affirms, the country will work towards increasing the industry’s market size to $300 billion by 2030. Additionally, it will also employ 60 million people in the textile value chain, he announced while inaugurating the new permanent campus of the Indian Institute of Handloom Technology in Fulia, Nadia, West Bengal.
Spanning 5.38 acre, the state-of-the-art campus has been constructed with an investment of 75.95 crores. It is equipped with all modern infrastructural facilities including smart classrooms, a digital library and advanced testing laboratories. The campus aims to serve as a model learning center and a Center of Excellence in handloom and textile technology, catering to students from West Bengal, Bihar, Jharkhand, and Sikkim.
Emphasizing on the government’s vision to expand India’s textile market to $300 billion, Singh highlights 11.56 per cent Y-o-Y growth in textile exports in October 2024. During the month, India’s apparel exports also increased by 35.06 per cent Y-o-Y to $1.23 billion, he adds. Meanwhile cumulative textile and apparel exports increased by 19.93 per cent in October 2024 compared to October 2023.
From Apr-Oct 2024, India’s textiles exports grew by 4.01 per cent compared to the same period in the previous year, while apparel exports registered an 11.60 per cent growth. Government’s investment promotion agency, Invest India predicts, India’s total textile exports will reach $65 billion by FY26.
Minister Singh expressed optimism, citing Prime Minister Narendra Modi’s leadership as a driving force behind the industry’s success, with continued growth in exports and technological advancements positioning India as a global leader in textiles.
Increasing demand for clothing alongwith a fall in inflation in major export destinations led to a spike in garment exports from Bangladesh during 2024. As per a report by the Export Promotion Bureau (EPB), apparel shipments from the country icreased by 7.23 per cent Y-o-Y to $38.48 billion during the fiscal.
Following the fall of Sheikh Hasina’s government on August 5, Bangladesh garment sector faced significant disruptions, including factory closures, production halts, and labor unrest. Protests, wage demands, and workplace discrimination fueled unrest, severely affecting shipments from July to October. However, gradually normalcy returned as factory owners accepted garment workers’ 18-point demands, including a 56 per cent wage hike.
Globally, persistent high inflation caused by the Russia-Ukraine war and its economic fallout dampened consumer demand initially. However, Western economies began rebounding in late 2024, with retail sales rising with inventories from previous years getting cleared in the US and Europe.
Garment exports faced fluctuations throughout the year. Shipments fell 6.62 per cent Y-o-Y in April to $2.38 billion and further by 10.48 per cent in June 2024. However, these began to recover again in September, with exports rising by 14.61 per cent to $3.01 billion. This growth continued through October, when exports increased by 22.80 per cent, In November 2024, Bangladesh’s garment exports grew by 16.25 per cent and in December they rose by 17.45 per cent rise to $3.77 billion.
Retail sales in key export markets, such as the US, also registered moderate growth. In November 2024, sales rose by 2.35 per cent Y-o-Y, according to the National Retail Federation (NRF). Buoyed by economic recover and lower retail sales, consumers seemed increasingly willing to spend, notes Matthew Shay, President, NRF,
Despite a challenging environment, Bangladesh’s garment industry adjusted its export target from $50 billion to $38.48 billion. Rising energy costs, volatile oil prices, and high interest rates affected smaller enterprises. Still, the confidence placed by international retailers on the country alongwith a devaluation in its local currency strengthened the industry’s resilience during the year.
Political stability and improved industrial relations will pave the way for further growth in exports, both in volume and value, opine Mohiuddin Rubel and Faruque Hassan, Former Leaders, BGMEA.
CCI boosts cotton procurement as prices fall below MSP; CITI proposes DBT scheme and stabilization fund for industry growth.
Acquiring around 70 per cent of daily arrivals, the Cotton Corporation of India (CCI) is set to purchase 25–35 per cent of India’s cotton production this season. This increased procurement comes as market prices dip below the Minimum Support Price (MSP), prompting government intervention.
India’s leading textile industry body, the Confederation of Indian Textile Industry (CITI) has proposed replacing the current procurement system with a Direct Benefit Transfer (DBT) scheme. This recommendation is a part of CITI’s suggestions for the Union Budget 2025–26, set to be presented by Finance Minister Nirmala Sitharaman on February 1, 2025.
Under the existing system, the government sets an MSP for cotton annually. When market prices fall below this rate, CCI steps in to purchase cotton directly from farmers at the MSP. The cotton is then stored in warehouses before being sold through open markets or auctions.
CITI’s proposed DBT scheme would allow farmers to sell cotton at prevailing market prices. If the selling price is below the MSP, the government would transfer the price difference directly to farmers’ bank accounts.
This approach would increase liquidity for farmers, enabling them to sell their produce without relying on government procurement. Additionally, it would reduce CCI’s financial burden and storage costs, benefiting the entire cotton supply chain.
So far this season, CCI has acquired 55 lakh bales of cotton, with total purchases expected to reach 100 lakh bales - accounting for over 35 per cent of the estimated output of 302 lakh bales (170 kg each). However, CCI’s aggressive buying has limited access to cotton for textile mills, which may face further difficulties as arrivals decline.
CITI has urged the government to ensure adequate cotton availability at globally competitive prices. Domestic cotton prices currently exceed international rates. CITI suggests compensating CCI for losses through subsidies, akin to those offered for other commodities.
To address price volatility, CITI recommends introducing a Cotton Price Stabilisation Fund Scheme. This initiative would offer mills 5 per cent interest subvention or loans at NABARD rates, recognizing cotton as an agricultural commodity.
Additionally, banks should extend the credit limit period for cotton procurement from three months to eight months, with a reduced margin money requirement of 10 per cent instead of 25 per cent.
These measures would enable mills to secure raw materials at competitive rates early in the season and mitigate price fluctuations during the off-season. Improved financial stability and access to cotton would allow mills to plan production schedules more effectively, fostering growth in the textile industry.
Gildan Activewear has once again secured its position in the Dow Jones Sustainability North America Index (DJSI North America), marking its 12th consecutive year of inclusion. This recognition highlights Gildan's leadership in sustainability, ranking the company in the 98th percentile of the Textiles, Apparel, and Luxury Goods industry, out of 189 companies assessed. Notably, Gildan is the only apparel manufacturing company to make the list.
"We are proud to be included in the DJSI North America again this year," said Glenn Chamandy, President and CEO of Gildan. "Sustainability has been a cornerstone of our business strategy for over two decades, and with our Next Generation ESG framework, we are paving the way for a more sustainable future for our people, communities, and the environment."
The Dow Jones Sustainability Indices (DJSI) serve as benchmarks for investors prioritizing companies with strong environmental, social, and governance (ESG) practices. Rankings are based on S&P Global’s Corporate Sustainability Assessment (CSA) scores, with the DJSI North America Index representing the top 20 per cent of the largest 600 North American companies in the S&P Global Broad Market Index excelling in ESG criteria.
Gildan's continued inclusion underscores its commitment to sustainable growth and long-term value creation for shareholders and stakeholders alike.
NEHHDC launches kargest Eri Silk Spinning Mill in Northeast India to boost sustainable textile production, employment, and local development with OEKO-TEX® certification.
The North Eastern Handicrafts and Handlooms Development Corporation (NEHHDC) has inaugurated the largest Eri Silk Spinning Mill in Northeast India.
Located at the Integrated Textile Park in Mushalpur, Assam, the mill was established with an investment of Rs 14.92 crore. Spanning 12,916 sq ft and equipped with 960 spindles, the facility has a daily production capacity of 461 kg. It was officially inaugurated by Pramod Boro, Chief Executive Member (CEM), Bodoland Territorial Region (BTR).
The state-of-the-art mill will provide direct employment to 375 individuals and indirectly support approximately 50,000 families. To meet its production needs, the facility requires 230 metric tons of Eri cocoons annually. Advanced machinery, including degumming units, hydro extractors, hot air dryers, pupa riders, cocoon openers, fiber cutters, balers, cheese and cone winders, TFO units, and reeling equipment, has been installed to ensure high-quality output.
Often referred to as ‘peace silk’ due to its cruelty-free extraction process, Eri silk is gaining popularity for its eco-friendly attributes. With the growing global demand for sustainable textiles, Eri silk is well-positioned to cater to these preferences. The mill’s primary objectives are to boost local cocoon production, enhance value through spinning and weaving, and create significant employment opportunities for the local community.
Highlighting the mill’s role in curbing the export of unprocessed Eri silk cocoons from the Northeast, Brigadier RK Singh (Retd), Managing Director, NEHHDC, says, by producing high-quality Eri yarn in cone and hank forms, the facility will improve price realization and meet the demand for dyed yarn in the handloom sector across all eight Northeastern states.
Bidyut Bikash Rajkonwar, Chief Operating Officer, states, NEHHDC earned the prestigious OEKO-TEX® Standard 100 certification for Eri Silk from Germany in 2024. Verifying the silk’s safety and sustainability, this certification reinforces the mill’s commitment to quality and positions it as a vital contributor to the region’s economic and social development.
Shiva Texyarn secures Rs 36.19 crore order from Indian Air Force for NBC Permeable MK V suits, showcasing technical excellence.
One of India’s leading textile manufacturers, Shiva Texyarn has bagged an order worth Rs 36.19 crore from the Indian Air Force, Ministry of Defence, Department of Military Affairs and Government of India to supply 16,000 pairs of Nuclear, Biological and Chemical (NBC) Suits, especially the Permeable MK V from January 3, 2025, to August 31, 2025.
A producer of technical textiles including home textiles, coated and laminated fabrics and other value-added goods in addition to cotton yarn, Shiva Texyarn holds numerous certifications including Five S (Workspace Management System), Oeko – Tex 100 Certification, WRAP Certification and Affiliation Certification (Textile Sector Skill Council).
The company has five divisions including a spinning mill, a lamination division and a garments division in Tirupur, a processing division in Erode and a coating division in Coimbatore.
In Q2 FY ’25, the company’s consolidated net profit increased to Rs 2.77 crore as against a net loss of Rs. 2.59 crore in Q2 FY ’24. Its net sales declined to 3.6 per cent Y-o-Y to Rs. 95.19 crore during the quarter.
The global home textile market in 2024 was marked by changing consumer preferences, supply chain disruptions, and a growing emphasis on sustainability. This report looks at the key trends that defined the year, and analyzes the sector's performance against projections, identifies the winners and losers in global trade, gives the outlook for 2025.
Market influencers
Several factors played a crucial role in shaping the home textile market in 2024.
Economic volatility: Global economic uncertainties, including inflation and recessionary fears in major markets, impacted consumer spending. While some consumers prioritized essential home textiles, discretionary purchases like decorative items saw a dip.
Shifting consumer preferences: Consumers increasingly sought out sustainable, ethically sourced, and high-quality home textiles. This trend was pushed by demand for organic cotton, recycled materials, and handcrafted products.
Supply chain disruptions: Lingering effects of the pandemic, coupled with geopolitical tensions, continued to disrupt supply chains. This led to increased lead times, higher transportation costs, and challenges in sourcing raw materials.
E-commerce boom: Online sales channels continued to gain traction, with consumers embracing the convenience and variety offered by e-commerce platforms. This pushed traditional retailers to enhance their online presence and omnichannel strategies.
How the market fared
While the global home textile market saw growth in 2024, it fell short of initial projections. Market research firm Statista estimated the market size will touch $135 billion in 2024, but preliminary data suggests it is around $130 billion. This discrepancy can is due to economic instability and supply chain glitches.
Table: Home textile market in 2024
|
Region |
Projected growth (%) |
Actual growth (%) |
|
North America |
4.5 |
3.8 |
|
Europe |
3.2 |
2.5 |
|
Asia Pacific |
6.8 |
6.1 |
|
Latin America |
5.1 |
4.2 |
|
Middle East & Africa |
5.9 |
5 |
Source: Statista, Industry Reports)
In the realm of international trade, some countries emerged as winners while others faced challenges.
Winners
India: Leveraging its competitive labor costs and strong manufacturing base, India solidified its position as a leading exporter of home textiles. Its focus on value-added products and sustainable practices further enhanced its appeal.
Vietnam: Continued its upward movement in the global textile market, capitalizing on trade agreements and investments in manufacturing capacity.
Bangladesh: Remained a major player in the supply of bed linen and towels, benefiting from its cost-effectiveness and established supply chains.
Losers
China: Dealt with issues like rising labor costs, trade tensions, and increasing competition from other Asian countries.
Pakistan: Struggled with political instability and economic challenges, impacting its export competitiveness.
Table: Home textile global import and export scenario in 2024
|
Country |
Imports in 2023 % bn) |
Imports in 2024 ($ bn) |
% change |
|
USA |
22.8 |
23.5 |
+3.1 |
|
Germany |
8.9 |
9.1 |
+2.2 |
|
UK |
7.2 |
7.4 |
+2.8 |
|
France |
5.8 |
6 |
+3.4 |
|
Japan |
4.9 |
5.1 |
+4.1 |
|
Canada |
4.1 |
4.3 |
+4.9 |
|
Country |
Exports in 2023 $ bn) |
Exports 2024 ($bn) |
% change |
|
China |
35.2 |
33.8 |
-4 |
|
India |
28.5 |
30.1 |
+5.6 |
|
Pakistan |
10.2 |
9.8 |
-3.9 |
|
Vietnam |
8.7 |
9.5 |
+9.2 |
|
Bangladesh |
7.5 |
7.8 |
+4.0 |
|
Turkey |
6.3 |
6.5 |
+3.2 |
Source: WTO, ITC Trade Map) And much like other sectors in the textile industry, home textile too faced several challenges through 2024. On major challenge was meeting growing demand for sustainable products while managing costs and ensuring transparency. As John Smith, CEO of a leading home textile brand says, “Sustainability is no longer a trend, it's an imperative. Consumers are demanding it, and brands that fail to deliver will be left behind." Building more resilient and diversified supply chains to mitigate disruptions also became crucial. And competition intensified from emerging markets so to keep ahead stakeholders needed continuous innovation and differentiation.
For example, Welspun India, a leading global home textile manufacturer, has embraced sustainability and innovation to thrive in the competitive market. Their initiatives include: Wel-Trak 2.0 A patented end-to-end traceability technology that ensures transparency and ethical sourcing of raw materials; investment in recycled and organic cotton production; focus on water conservation and energy efficiency in manufacturing processes.
Despite the challenges, 2024 witnessed numerous innovations in the home textile sector. For example, integration of technology into home textiles gained momentum, with products like sleep trackers, temperature-regulating bedding, and antimicrobial fabrics gaining popularity. "The integration of technology into home textiles is transforming the industry. We're seeing incredible innovations that enhance comfort, convenience, and well-being," says Jane Doe, Textile Industry Analyst.
Brands increasingly adopted circular economy principles, focusing on recycled materials, reduced waste, and product longevity. And customized home textile solutions, allowing consumers to personalize designs, colors, and materials, gained traction.
Outlook for 2025
Despite these challenges, the outlook for the home textile sector in 2025 remains cautiously optimistic. Market research firm Grand View Research projects the market will reach $142 billion in 2025 numerous factors acting as catalysts. Growing urbanization and rising disposable incomes in developing economies will boost the sector. Similarly increasing focus on home décor and interior design will augur well. And continued growth of e-commerce and online sales channels will also boost the sector.
Meta Description: India poised to capture apparel market share from Bangladesh amid its economic crisis, AEPC urges policy reforms for growth
Amid ongoing economic and political instability in Bangladesh, Indian apparel exporters, particularly in the Tirupur cluster, are witnessing increased inquiries from global brands like Primark, Tesco, Decathlon, JCPenney, Gap, and Walmart. With orders expected to convert by early 2025, India is presented with an opportunity to capture a portion of Bangladesh’s global apparel market share, as the neighboring country faces challenges in importing cotton and fabric due to depleted foreign exchange reserves.
Bangladesh’s foreign exchange reserves fell below $40 billion in July 2024, impacting its ability to sustain cotton imports from India, creating a potential gap in its apparel production. Mithileshwar Thakur, Secretary General of the Apparel Export Promotion Council (AEPC), highlighted that if India captures just 10 per cent of Bangladesh's apparel exports, it could create up to 1.5 million jobs.
However, Bangladesh still holds a cost advantage due to its low wages, duty-free access in major markets, and Least Developed Country (LDC) status. To bridge this gap, India needs to sign free trade agreements with the EU and UK, allowing access to similar benefits.
Thakur also stressed the need for India to improve infrastructure, technology, and workforce skills to attract redirected investments from countries like Vietnam and Cambodia, traditionally seen as competitors. The AEPC has called for the introduction of PLI 2.0, which would incentivize capacity expansion and technology upgrades, especially for micro-industries.
Additionally, Thakur pointed out challenges in sourcing Man-Made Fibre (MMF) fabrics and the need to reduce high import duties on textile machinery. He also emphasized the importance of sustainability and ESG compliance in tapping into global markets, particularly the EU and the US.
Meta Description: Spring Fair 2025 celebrates its 75th anniversary with top retail icons, industry insights, and over 1,200 exhibitors
Spring Fair, the UK's premier trade show for Home, Gift, and Fashion, is set to celebrate its 75th anniversary at the NEC Birmingham from February 2-5, 2025. The event will feature prominent industry figures including Jeff Banks, Theo Paphitis, Andrew Xeni, and Laurence Llewelyn-Bowen, all of whom have long-standing ties to the fair.
Llewelyn-Bowen’s design company will create the Licensing Lab lounge area, providing a stylish Networking Lounge for informal discussions and meetings. The flamboyant designer will open the Inspiring Retail Stage on 2nd February with a talk on licensing, art, and design.
Retail and technology entrepreneur Andrew Xeni will deliver sessions on scaling sustainability, licensing success, and the future of digital product passports. Xeni, who founded eco-conscious brand Nobody’s Child, will also lead a keynote.
Jeff Banks will share insights from his 60+ years in licensing, discussing the dos and don’ts of designer collaborations. Banks has been a key part of the show’s success, working with many exhibitors over the years.
Theo Paphitis, TV dragon and founder of #SBS Small Business Sunday, will also make his mark, offering guidance for small businesses on competing with larger retailers.
With over 1,200 exhibitors and more than 1 million products on display, Spring Fair 2025 promises to be an unmissable event, showcasing new brands, exclusive products, and exciting opportunities for buyers.
