FW
Kingpins Amsterdam is teaming up with long-time collaborator Mariete Hoitink, owner of the Amsterdam-based HTNK recruitment and consultancy firm and co-founder of the non-profit House of Denim, to launch Denim Jobs, a new online platform dedicated to connecting the denim industry with the best talent.
Kingpins’ Denim Jobs will be a unique destination on the Kingpins website catering to the full supply chain. It will be a space for all denim and denim-related companies such as mills, brands, retailers and NGOs to advertise their vacancies for full-time, freelance and internship positions. And it will attract talent with creative, commercial, digital and technical backgrounds. Additionally, the site will feature interviews for “denim rookies and players” about their career and their perspective about the future of their work.
Karl Mayer has launched the Wefttronic II G machine for glass processing. The new warp knitting machine is specifically designed to produce light to medium-heavy grid structures. is a German textile machinery firm, which makes solutions for warp knitting and warp preparation for weaving and technical textiles.
The stable grid textiles are used as plaster grids and geogrids, as well as carriers for grinding discs – and are produced extremely efficiently on the Wefttronic II G. Geogrid fabrication is now 60 per cent more productive compared to the previous version. In addition, less expensive yarns can be processed into high-quality textiles: the textile glass fibre material can cost up to 30 per cent less than leno fabric production. The machine handles technical yarns extremely gently.
H&M has opposed Sweden’s proposed tax on substances of very high concern in clothes and footwear as it is not likely to improve work health, the environment or product safety
The Swedish government plans to implement a tax on clothes and shoes containing SVHCs under REACH. The proposal would see a tax of SEK40 (€3.66) per kg for all clothing and footwear, with the possibility of deductions of up to 95 per cent for products that do not contain the targeted chemicals. It aims to increase public finances and cost-effectively reduce the incidence or risk of exposure to, and spread of, substances in clothing and footwear that are harmful to the environment and human health
However, H&M believes the tax targets all clothes and shoes, even though it is based on deems that most of those products do not contain these chemicals. This means H&M and other brands would have to prove that these chemicals are not in their products even though this is already known.
Hermès International reported a 6.5 per cent drop in sales over the first quarter, taking the hardest hit from the coronavirus crisis in Asia and Europe. Sales for the quarter at €1.5 declined 7.7 per cent at constant rates. Of this, sales in Asia were €814.5 million with growth in Japan helping to mitigate the drop during the period, when stores in Mainland China were closed from the end of January. Stores in China have since reopened and activity is again on the upswing.
In Europe, where stores have been closed since mid-March, sales declined to 403.5 million euros. The decline was less stark in the Americas, even if all e-commerce has been halted in the U.S. since March 20, down 6.3 percent at constant currencies, to 258.5 million euros. In terms of activities, silk and textiles declined by 19.2 per cent at constant rates, while leather goods and saddlery products proved more resilient by declining only by 6 percent.
However, the brand’s sales operations are gradually resuming and that it has kept a basic salary for its employees around the world without drawing on state assistance. The company plans to propose a dividend at its shareholder meeting.
The brand has also resumed work at its production and logistics sites since April 14, in compliance with safety rules and applying measures to protect employees. With stores currently open only in greater China and South Korea, the brand expects its second quarter sales to be significantly impacted by the temporary closure of most of its network.
In a meeting between EU and three delegates of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) at the EU Dhaka office, EU revealed its plans to launch a few supporting programs for the badly affected Bangladesh workers.
EU officials expressed their high concern about the deadlock in RMG export of Bangladesh. They discussed about the present and the future crisis of the sector and possible ways to overcome it. The industrial sector in Bangladesh is incurring losses worth Tk 11.31 billion per day due to the nationwide Coronavirus lockdown. The garment exporting sector is also shutdown for the last month which increases the liability every single day.
The Coronavirus situation in Bangladesh is affecting the profit margins of fashion brand Primark in the country. Before the pandemic, monthly $600 million worth of products were sold in Primark stores, while in the last month the brand reported zero sales.
Primark has 370 stores in 12 countries around the world. A large part of the garments is made in different factories across Bangladesh. But all their stores have been closed for the last month. Primark has stopped trading online. Its website now offers suggestions on how to refurbish your wardrobe, and how to decorate your house and celebrate your birthday alone in this lockdown.
Primark’s entire business model is developed by capitalizing on cheap labor countries like Bangladesh. The brand also has a very efficient supply chain. The brand has already canceled all orders from Bangladesh. Its stock has been sold in large quantities. Primark claims they have already paid for the orders that have already been delivered. The company also said that a ‘special fund’ will be set up for the workers in the factories where Primark’s clothing is made.
Gordon Brothers, the global advisory, restructuring, and investment firm, has acquired Laura Ashley brand, archives, and related intellectual property from the Laura Ashley group’s UK administrators.
As new owners of the brand, Gordon Brothers will partner with management to evaluate several go-to-market strategies for the business, some of which could include retaining a streamlined portfolio of retail stores in key markets within the UK and Ireland. Gordon Brothers intends to place a strong emphasis on building e-commerce, developing more strategic wholesale relationships, and expanding the portfolio of licensees and franchisees globally.
Founded in 1953 by husband and wife team Bernard and Laura Ashley with an eye for delivering quintessentially British goods with a modern flair, the brand developed a passionate following which has allowed it to maintain its relevance regardless of the way the winds of fashion have blown. More recently, the brand expanded globally with outposts in markets as varied as South Korea, the Ukraine, the United States, and Japan.
Gordon Brothers’ Brands division values, acquires, restructures, and invests globally in underleveraged, distressed, or dormant intellectual property to help revive and reimagine some of the world’s most iconic brands.
Pakistan Textile Exporters Association (PTEA) has stressed for expeditious disbursement of all outstanding refunds as the Covid-19 pandemic has significantly impacted the cash flow squeezing the financial streams.
Commenting over the prevailing situation here on Wednesday, Chairman PTEA Sohail Pasha expressed serious concerns over unnecessary delay in disbursement of pending refunds of exporters despite the commitment of the Government for liquidation of Rs 100 billion pending refund claims to save the export industry from the adverse impacts of Covid-19 pandemic.
PTEA's Patron-in-Chief Khurram Mukhtar was of the view that the most affected value chain for Pakistan was textiles and apparel which had faced large scale cancellation or deferral of export orders. He demanded restoration of zero-rated regime for five export sectors and sustainable energy tariff for five years. He urged for payment of textile policy incentives Technology Up-gradation Fund (TUF) and Mark-up Support subsidy to keep industrial wheels running and save the livelihood of millions.
Vice Chairman PTEA Haris Yousaf urged the government to take preventive measures and develop strategy to protect the pace of economic and trade progress of Pakistan from likely impacts of world economic slowdown.
German sportswear firm Adidas plans a multi-billion euro bond so that it no longer needs the state-backed loan it agreed to take earlier this month to help it get through the coronavirus crisis. Adidas first had to get a credit rating from a large ratings agency. The brand agreed to take a €2.4 billion government-backed loan on April 14 after it was hit by the closure of stores due to global coronavirus lockdowns and by the postponement of the Olympic Games and Euro soccer tournament.
Adidas, which reports first-quarter results next Monday, said it was still unable to provide an outlook for the full year. The company's €3 billion loan includes €2.4 billion from the KfW state developmen bank and €600 million in loan commitments from a consortium including UniCredit, Bank of America, Citibank, Deutsche Bank, HSBC, Mizuho Bank and Standard Chartered Bank.
The safety of exhibitors and buyers has always been a priority for the Hong Kong Trade Development Council (HKTDC). Considering the current development of the novel coronavirus outbreak, and in line with the health measures taken by the Hong Kong SAR Government, a decision has been made in consultation with industry representatives to reschedule nine HKTDC trade fairs originally during April and May 2020.
Under the new arrangement, the following fairs will be held will be held concurrently from 25 to 28 July 2020 at the Hong Kong Convention & Exhibition Centre.
• HKTDC Hong Kong International Lighting Fair (Spring Edition)
• HKTDC Hong Kong Electronics Fair (Spring Edition),
• HKTDC International ICT Expo
• HKTDC Hong Kong Houseware Fair
• HKTDC Hong Kong International Home Textiles and Furnishings Fair
• HKTDC Hong Kong Fashion Week
• HKTDC Hong Kong Gifts & Premium Fair
• Hong Kong International Printing & Packaging Fair
• Hong Kong International Medical and Healthcare Fair
Alongwith these nine concurrent fairs, the HKTDC will organise a Summer Sourcing Week from 25 to 28 July. Featuring nine fairs located at the same venue, it will provide a one-stop cross-industry platform for global buyers to replenish their stocks. Additionally, HKTDC is looking into O2O business-matching services at its fairs so that overseas buyers who cannot come to Hong Kong can locate target exhibitors in advance. Video conferences will be arranged between buyers and exhibitors to discuss business deals.
