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Gucci has partnered with The Lion Share's Fund to support wildlife conservation and tackle the crisis in nature, biodiversity and climate change. A program established in June 2018 by the United Nations Development Programme (UNDP), the Fund aims to raise over $100 million annually for next five years by asking brands to contribute 0.5% of their media spend every time an animal is featured in their advertisements. Marco Bizzarri, President and CEO of Gucci, said: “The Lion’s Share Fund is an important addition to our conservation strategy. Nature and wildlife provide Gucci with inspired creation that is an integral part of our narrative through our collections and campaigns. With the increasing threats to the planet’s biodiversity, groundbreaking initiatives like The Lion’s Share Fund have the potential to be transformative by organically connecting the business community with direct action to protect our natural habitats and most threatened species.”
Pure Origin will be held in the UK, February 9 to 11, 2020.
This is a show for international garment, fabric and supply chain sourcing. For this edition the spotlight will be on Turkey. Over 20 Turkish brands will participate. As the world’s seventh largest apparel exporter, and with 72 per cent of total apparel exports going to the EU, Turkey represents a huge opportunity for UK brands and designers, with short delivery times and integrated supply chain capabilities.
Pure Origin brings the entire fashion supply chain, from fiber to finished collection, under one roof. Pure Origin provides access to seven curated sectors across supply and manufacturing. It also features its own dedicated platform for content including talks, workshops, trend presentations and catwalk shows. Pure Origin is the UK’s number one destination for sourcing and manufacturing, knowledge and solutions. It offers apparel, fibers and raw materials, denim, footwear and accessories, and tech and innovations. As a convenient and cost-effective way for buyers to meet with UK and international manufacturers, the show brings together over 200 exhibitors from dozens of countries to create a wide range of business and networking opportunities, new thinking and innovation attracting buyers, sourcing, and technical personnel.
Vietnam’s raw material imports from China have dwindled because of the coronavirus.
The outbreak is expected to negatively impact ten major industries in Vietnam, including textiles. If the disease persists, supply and transport chains will be in trouble and in the worst case scenario manufacturing will have to stop or be delayed. So for instance leather factories may have to shut down if they can’t source the material from China. Production of rubber and plastic in Vietnam is largely dependent on China with 70 per cent of materials imported from the country. China accounts for 55 per cent of Vietnam’s fiber imports. China has shut down manufacturing in many cities to contain the virus. So textile companies in Vietnam have to tap other markets to meet production targets. They would have to source from say Japan or South Korea where prices are much higher. Profitability will be challenged by higher material costs as companies have fixed prices with customers since the end of last year.
In January, Vietnam’s imports of fabric from China fell 18.1 per cent. Exports of textiles, a key sector, in all markets fell 21 per cent year on year in January, while that of footwear fell 9.7 per cent.
Gartex will be held in Mumbai, March 19 to 21, 2020.
This is a trade show on garment textile machinery. Exhibitors will present the latest innovations, machines, plants, processes and services to various stakeholders in the industry, including manufacturers and suppliers. The event is aimed at providing business opportunities to international and national suppliers as well as trade visitors through networking sessions with industry experts and engaging in investment opportunities. Gartex unifies various stakeholders within the garment and textile manufacturing supply chain and provides stakeholders greater accessibility to their buyers in the western and southern regions. The objective is to reach out to the major textile hubs of west and south India. This edition will complement the existing New Delhi edition while also increasing the expanse of the show by reaching out to smaller-sized companies and start-ups in the region. The show will provide insights on technological developments in the garment and apparel manufacturing sector. Innovative products and technologies, defining the latest trends in the industry, will be showcased at the four concurrent shows -- Denim Show, India Laundry Show, Fabrics and Trims Show and Digitex Show-- during the three-day event.
India’s textile and apparel exports are expected to go from five per cent to 15 per cent by 2024-25.
Cotton ginners are hopeful that notwithstanding the present slump, India will be able to export at least 40 lakh bales each of 170 kg of cotton in the current season. Ginners believe that in case the trade slump caused by the spread of coronavirus in China ceases, the export could be more than 45 lakh bales. Meanwhile, raw cotton from India is expected to find favour in the international markets as the produce is around 5 to 7 per cent lower than the international prices.
Estimates by the Cotton Association of India (CAI), the industry body that represents the cotton value chain, have shown that till January 31, 192.89 lakh bales have arrived in markets, which industry sources say, is around 55 per cent of the produce.
The Cotton Corporation of India (CCI) under its Minimum Support Price (MSP) operations have procured 56 lakh bales while the country has seen 10 lakh bales of imports. Robust procurement by the CCI and a spike in prices of cotton seed has seen average traded prices of kapas (which contains 33-34 per cent lint, with the balance accounted for by seed) in the Rs 5,100-5,200 per quintal range in majority of the wholesale markets of the country.
Ginners from Khandesh — comprising Nandurbar, Jalgaon, Dhule, Nashik and Ahmednagar districts — are hopeful to export directly to Bangladesh. In this regard, a special team will be leaving for Bangladesh towards the end of February.
According to the International Cotton Advisory Committee’s (ICAC) February update of cotton conditions, the global cotton trade will grow by 2 percent in the 2019-20 season, to reach 9.4 million tonne. China will remain the world’s top importer at 1.8 million tonne, but that would represent a year-over-year decline of 14 percent
Production is expected to decline in some major producing countries, with Turkey revised downward to 815,000 tonne and Pakistan to 1.35 million tonne. As a result, imports will increase for both countries to 818,000 tonne and 967,000 tonne, respectively
Latin American countries should meet some of that additional demand. Brazil’s production is expected to remain high at 2.76 million tonne and exports are expected to grow 19 percent to 1.7 million tonne. Argentina is also forecast to increase its production, to 358,000 tonne, posting a gain of 39 percent, while imports are expected to increase by 57 percent to 186,000 tons. The latest U.S. Department of Agriculture (USDA) report forecast U.S. production to be 20.1 million bales in the current season compared to 18.4 million bales in 2018-2019.
USDA expects U.S. exports to be unchanged at 16.5 million bales for the season, which represents the second-highest volume on record. Stability in the export forecast caused each of the four consecutive decreases in the U.S. production forecast, representing a decrease of 2.3 million bales since August, to result in four parallel decreases in ending stocks.
The current projected increase in U.S. ending stocks of 11 percent, or 550,000 bales, has dropped from a forecast 48 percent gain to 2.4 million bales in August.
Bangladesh’s apparel exports to the US grew 9.83 per cent last year. Bangladesh’s readymade garment exports to the US in January to June 2019 were 14.49 per cent higher than in the same period of 2018. From July to December they grew by only 5.19 per cent.
That means export growth to the US market was satisfactory until the first half of 2019 but it declined in the second half of the year. The country failed to achieve the required export growth in the US market in 2019 as it could not take advantage of the US-China trade war. The export growth of Vietnam and Cambodia, two competing countries of Bangladesh, to the US was much higher than Bangladesh as they grabbed most of the business shifted from China due to the trade war. Bangladesh’s competitiveness is eroding due to the increasing production cost and overvalued local currency. Exports are expected to decline more in the coming months. The country’s export earnings have continued to slump as the major economies of the world are facing a recession amid the US-China trade war, reducing the buying aspirations of consumers. Europe is the pivotal export market for Bangladesh. While Bangladesh relies on apparel exports consumers have cut back on clothing and entertainment.
The move to slash tariffs is an effort to alleviate economic and trade frictions and expand economic and trade cooperation with the US. Tariffs will be cut on certain US imports from ten per cent to five per cent. Duties on other items will be brought down from five per cent to 2.5 per cent.
The US has also agreed to curb tariffs on some China-originating goods, eliminating a slated December set and halving the tariff rate on list 4A goods to 7.5 per cent. For the apparel and textiles sector, the relief is nominal, as 92 per cent of the apparel originally targeted in the trade war is still facing tariffs. Tranche 3 tariffs, for one, are still in effect, plaguing thread, yarn, textiles and handbags with punitive duties.
China is battling an escalating health crisis. The coronavirus outbreak has significant portions of the country under lockdown, goods piling up at ports, and workers—including truckers who would handle goods movement in the country—warned off from returning to work in the hopes of minimizing further spread of the virus.
Since tariffs automatically increase the cost of imported goods, it would be inherently contradictory public policy to want more Chinese purchasers to buy American products and yet at the same time make them more expensive than necessary because of such tariffs.
In the wake of international medical crisis emerged by Coronavirus, Apparel Sourcing Week (ASW), India's premier garment sourcing show, has rescheduled ASW2020 to June 18-20, 2020. The event will be held at the same venue Sheraton Grand Whitefield, Bengaluru with the same partners & same agenda, from the earlier announced dates of February 20-22, 2020.
Apparel Sourcing Week 2020 (ASW2020) has taken this decision considering the public health and safety of their exhibitors, visitors and speakers are of prime concern, especially as countries have issued advisories to curb international travel and movement in crowded places.
Similar concerns were shared by many of ASW's exhibitors/sponsors/speakers from abroad and within the country. While some had already excused themselves, many others were unsure of whether they would eventually be able to make it to the show. Hence, ASW has decided to reschedule the event.
Global fashion luxury group Capri has announced that the China coronavirus outbreak could hit its revenues for the fourth quarter and full-year 2020. In its full-year fiscal 2020 outlook, Capri estimates revenue to decrease by around $100m and earnings a share by $0.40 to $0.45. Capri reported third-quarter revenue growth of 9.2 per cent gross profit of $932m and $210m net income, which exceeded expectations.
The group has also noted that brand comparable store sales guidance ranges will not be provided in the fourth quarter.
The parent company of fashion brands such as Michael Kors, Versace and Jimmy Choo has closed approximately 150 of its 225 stores in mainland China as of 5 February.The rest of the stores that remain open are operating with reduced hours and fewer customer visits.
Other major retailers who are victims of the outbreak include Ralph Lauren, Gap, Hugo Boss, Swatch and more. Additionally, Nike and Apple have both confirmed store closures this week across mainland China.
