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Since the US is unlikely to sign the Trans-Pacific Partnership (TPP) free trade agreement, China and India are seeking to seal other regional trade agreements. Neither China nor India is a part of TPP. However, India wishes to be able to make a deal with China and countries of Southeast Asia. India also wants to attract professionals from countries with great expertise in textiles, such as France, Italy, Germany and others, and encourage them to exploit the eco-system in place in India.
An increasing number of Chinese businesses have invested in foreign countries such as India, Sri Lanka, Bangladesh, Pakistan, Kenya and Ethiopia, building textile factories there. These investments will enable the Chinese textile supply chain to improve in terms of speed and reactivity.
Last year was a challenging one for China’s textile industry, hampered by rising manpower costs, stricter environmental regulations, exchange rate pressure and the slowdown of domestic demand. Yet, despite the slump in exports, China still held on to its global market share.
In the first 11 months of 2016, China and India were the first and the fourth apparel supplier to the EU. The two countries were also the first and the third textile supplier to the EU.
During the first six months of the current financial year, Pakistan’s exports of readymade garments grew 5.87 per cent compared to the corresponding period of last year. Knitwear exports increased 0.17 per cent; bed wear exports recorded a 4.66 per cent growth. But exports of raw cotton, cotton yarn and cotton cloth witnessed negative growth during the last two quarters of the current financial year. Recently, Pakistan unveiled a package to boost the country’s exports.
Duty drawback for garments would be seven per cent, for textile made-ups six per cent, for processed fabrics five per cent, for yarn and grey fabric four per cent, for sports goods, leather and footwear seven per cent and for carpets and tents five per cent. Import duties on cotton, customs duty on manmade fiber other than polyester and sales tax on imports of textile machinery have been abolished.
Liberal incentives are likely. Exporters will be liable to increase exports by five per cent from January to June 2017 and then by a further ten per cent in financial year 2017-18. A network of roads, highways and motorways will be laid, integrating different regions of the country. Interest rates have been lowered and investors are being facilitated. The zero-rated facility has been given to five export sectors in the budget.
American retailer BCBG is closing 120 stores. California-based BCBG sells women’s dresses, apparel and accessories. The group is reducing its physical retail footprint after being negatively impacted by growth in online sales of rivals. The stores to be closed either are unprofitable or have untenable lease agreements.
BCBG is repositioning its brands and operations for the future with a focus on digital, e-commerce, selected retail locations, in-store boutiques and wholesale and licensing arrangements. Fashion house BCBG was founded in 1989. The first boutique opened in 1992. The brand has operated more than 570 boutiques worldwide, including more than 175 in the US. It has long been a favorite of red-carpet celebrities. Kate Winslet, Victoria Beckham and Alicia Keys have worn its fashions, which include cocktail dresses, handbags and other accessories. The name BCBG is short for the French expression bon chic, bon genre.
BCBG is just the latest retailer to announce plans to pare store counts in the face of increased competition from online sites. Kenneth Cole Productions, a fashion house and shoe company, announced plans in November to close almost all its shops. Macy’s recently announced plans to close 68 stores. Sears and J.C. Penney are also planning store closures.
Trident’s nine-month turnover increased 26 per cent over the same period last year. Profit too rose by 36 per cent. Trident is a manufacturer and exporter of home textiles and paper products. Business has been driven by strong volume growth in terry towels and yarn across markets as a result of sustained focus and efforts on marketing, designing as well as product innovation. Healthy traction in the bed linen segment in both international and domestic markets further supported this momentum.
Trident has an installed capacity of 5.55 lakh spindles and 5,500 rotors capable of manufacturing 1, 15,200 tons a year of cotton, compact and blended yarns. It has ten manufacturing units. The product range services the needs of the knitting, weaving, denim, hosiery, shirting and suiting segments.
Trident exports textile products to nearly 70 countries across the globe and 70 per cent of the revenues are earned through the export business. Trident is strengthening its presence in new markets like the UK, Italy, France, Japan, Australia, South Africa and Canada. The company has expanded its value-added range such as air rich, low tint, fade-resistant bed and bath linen products to cater to the premium segment. In India Trident is in 260 MBOs and is in all major e-commerce portals.
For the third quarter Indo Rama Synthetics’ net revenue was Rs 623.92 crores compared to Rs 663.25 crores in the third quarter of the previous year. EBIDTA for the period decreased to Rs 16.22 crores versus Rs 22.04 crores for the same period in 2015. Net loss was Rs 37.95 crores compared to Rs 7.76 crores in the corresponding quarter last year.
For the nine month period, net revenue was Rs 2,099.80 crores compared to Rs 2,065.37 crores in the previous year. EBIDTA for the period was Rs 8.80 crores versus Rs 56.56 crores in the previous year. Net loss for the period was Rs 69.20 crores compared to a net loss of Rs 51.60 crores during the corresponding period of the previous year.
The company saw a sizable drop in volumes immediately after November 8, leading to a negative financial impact, which is now slowly getting back to normal. Indo Rama Synthetics is India’s largest dedicated polyester manufacturer with a production capacity of 6,10,050 tons per annum of polyester staple fiber, filament yarn, draw texturized yarn, fully drawn yarn and textile grade chips. The group has a strong presence in Indonesia, Thailand, US, Nepal and Sri Lanka besides India. It has focused business activities in the field of textiles, polyesters, and industrial chemicals.
India’s apparel exports to the US fell by 4.8 per cent y-o-y in December 2016.Despite a decline in export value, India’s market share expanded by 10 basis points to 4.2 per cent. The country maintained its position as the sixth largest apparel exporter to the US.
The decrease in India’s export value was solely attributed to a fall in export realisations. During the month, export realisation dropped by 7.4 per cent. However export quantity grew by 2.8 per cent. Among the top five apparel exporting countries to the US, only Vietnam and Mexico registered a growth in apparel exports. China saw its exports fall by 11.2 per cent. The country’s market share deteriorated by 150 basis points to 32.9 per cent. Exports from Indonesia and Bangladesh fell 10.8 per cent and 8.5 per cent respectively. Indonesia’s market share dipped by 30 basis points to 5.4 per cent and Bangladesh’s by 10 basis points to 6.4 per cent.
Vietnam’s apparel exports to the US rose 4.2 per cent. The country’s market share expanded by 150 basis points to 13.9 per cent. Mexico’s exports grew by 9.4 per cent while its market share expanded by 70 basis points to 4.7 per cent.
Invista’s brand Cordura which makes cutting edge fabrics across key textile categories has got more than 50 awards in its 50th anniversary year at ISPO Textrends, making it its first best in category product win with Cordura 4ever knit by Yoonia (Korea). In all 51 Cordura fabrics across six key textile categories emerged winners. These cutting-edge fabrics are on display at ISPO Textrends, as part of the ISPO Munich exhibition, taking place this week. Many of the winning fabrics selected were in the soft equipment category, a reflection of the Cordura brand's durable heritage, which has its roots in technical backpacks. The brand produces fabrics for tents, backpacks, sleeping bags, shoes and more. They are lightweight, durable, abrasion resistant, offer UV protection and are waterproof.
Fabrics in the street sports category range from denim with new performance levels to lighter functional fabrics and finishes with a fashionable edge. The base layer category features next-to-skin fabrics for technical underwear, with pre-shaping, support, thermal or moisture management performance. Softness, comfort, anti-bacterial or eco-friendly properties are added values.
In the second layer category are fleeces, lightweight protective fabrics and performance linings usable for maximum thermal characteristics. Technical membranes are featured in the membranes and coatings category often including two-to-three layer fabrics with stretch that are waterproof, windproof and UV-resistant for ultimate protection against the elements.
In addition Cordura has three outdoor product innovations for 2017 –Authentic Heritage, Simplicity in Style and Going the Distance. Authentic Heritage fabrics aim to help achieve real performance, real results, versatility and reliability. Simplicity in Style has bags, packs and apparel with clean simple minimalistic lines and all around durable style. Going the Distance trend is about multi-functional fabrics that bring a range of hidden benefits. These combine the best of both worlds – strong with soft, fashion and function, durability with definition.
Held February from 5 to 8, 2017, ISPO Munich the trade show for sports industry attracted more than 85,000 visitors and 2,732 exhibitors. Strategies were developed and partnerships formed in personal exchanges. This year's ISPO Munich was more international than ever with a large number of visitors from Italy, Russia, Great Britain, China and the US.
Women in sports, both as industry executives and as a target group, were an important central theme this year. The focus was not just on selecting the right colors but on breaking away from conventional ways of thinking and doing a better job of taking women’s needs into account than in the past.
For instance, the women’s lounge was a meeting place that allowed a large number of female industry representatives to make new contacts. Special tours to the stands of manufacturers and a lecture program geared toward women attracted female visitors in large numbers.
Electronics continues to make its way into the sporting goods sector more noticeably than ever. Products on display included ski poles equipped with sensor technology, virtual reality headsets for a more emotional shopping experience and a digital ski trainer in an inlay sole.
Primark’s Sustainable Cotton Program aims to help women smallholders in India embrace environmentally friendly production techniques that can help boost yields. The program was launched three years back. It has worked with 1,251 farmers, delivering a 247 per cent increase in average profits over the period. Promoting environmental best practices has led to a 40 per cent reduction in chemical fertiliser use, a 44 per cent cut in chemical pesticide use, and a 10 per cent reduction in water use.
These techniques have cut input costs for farmers by 19.2 per cent, contributing to a increase in profits that female farmers have been able to invest in home improvements, healthcare and education for their children. Primark is now seeking to expand the program to cover 10,000 farmers over a six year period as it looks to curb the environmental impact of its supply chain and support women in rural India who currently face average incomes that are just 78 per cent of those experienced by men.
The program provides training to farmers, demonstrating how organic pesticides, lower levels of fertilisers, soil testing and using targeted irrigation rather than flooding can reduce environmental impact, lower costs, and boost yields. Primark's long term ambition is to ensure all the cotton in its supply chain is sourced sustainably.
American retailer BCBG is closing 120 stores.
California-based BCBG sells women’s dresses, apparel and accessories. The group is reducing its physical retail footprint after being negatively impacted by growth in online sales at its rivals.
The stores to be closed either are unprofitable or have untenable lease agreements.
BCBG is repositioning its brands and operations for the future with a focus on digital, e-commerce, selected retail locations, in-store boutiques and wholesale and licensing arrangements.
Glitzy fashion house BCBG was founded in 1989. The first boutique opened in 1992. The fashion brand has operated more than 570 boutiques worldwide, including more than 175 in the US. It has long been a favorite of red-carpet celebrities. Kate Winslet, Victoria Beckham and Alicia Keys have worn its fashions, which include cocktail dresses, handbags and other accessories. The name BCBG is short for the French expression bon chic, bon genre.
BCBG is just the latest retailer to announce plans to pare store counts in the face of increased competition from online sites. Kenneth Cole Productions, a fashion house and shoe company, announced plans in November to close almost all its shops. Macy’s recently announced plans to close 68 stores. Sears and J.C. Penney are also planning store closures.
