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The Odisha government recently approved five investment proposals worth Rs 1,508 crore which will create employment opportunities for 2,155 people.
The proposals were approved at the 78th meeting of the State Level Single Window Clearance Authority (SLSWCA), chaired by Chief Secretary Aditya Prasad Padhi.
The SLSWCA accorded approval to IOCL to set up a polyester products manufacturing unit of 324 KTPA capacity at the textiles park in Bhadrak district.
The project, which will create direct and indirect employment for 185 people, will act as an anchor and help in supplying feedstock or raw material to the downstream technical textile industries which will come up in the textiles park.
The SLSWCA also approved the proposal of one of the leading manufacturers of aluminium extrusions to set up a greenfield manufacturing unit at the Angul Aluminium Park with a capacity of 40,000 metric tonnes (MT) per annum.
Odisha is one of the largest producers of sweet potato, recording 16.38 lakh ton in 2016-17. Sweet potato flour finds its use in Food Processing Industries.
The fifth investment proposal approved by the SLSWCA was that of a Kolkata-based company which will invest Rs 62.1 crore to establish an integrated cold chain service unit at the seafood park at Deras in Khordha district.
Jimmy Choo is upbeat over the luxury footwear brand’s prospects and is working hard to widen its appeal to millennial consumers as well as retaining its core, slightly older customer base.
The company has expanded its accessories design team and will transition out of older accessories groups.
Jimmy Choo’s pro-forma revenue is expected to rise around ten per cent in fiscal 2019. That sales rise is predicted to come on the back of its red carpet activity, as well as on continuing development of its core 24/7 collection and on more trend-focused fashion active offerings being added to the wider range.
On the store front, the company plans to increase the pace of openings adding around 30 net new locations in fiscal 2019. Jimmy Choo believes there is meaningful opportunity to expand its global presence with a particular focus on Asia.
The new team is working diligently to introduce multiple new collections over the coming seasons.
Jimmy Choo hopes to be a billion dollar brand.
Indonesia saw an increase in textile production by eight per cent in the period January to March 2018.The increase was triggered by domestic demand and tightening of wholesale and other imports.
After the policy of bulk import curbing, the performance of textile and textile products in the second half of 2017 rose to reach a 2.5 per cent growth from the previous year.
The industry now wants an integrated cluster and close to the source of raw materials; a tightening of textile imports; affordable factory rental rates; upstream and downstream industries integrated in one region.
Indonesia hopes to triple textile and textile product exports in the next five years. If this happens, this sector will be Indonesia’s largest non-oil export contributor and create jobs for six million people.
In 2016, apparel exports from this southeast Asian nation decreased 3.2 per cent due to several challenges including high logistics costs and gas and power tariffs being higher than other competitor countries.
At present, the US is the largest clothing importer from Indonesia. If the country were to lobby with the US to expand its Generalised System of Preferences to include more Indonesian apparel and accessories, this would facilitate the entry of more Indonesian products into the US at lower tariffs.
Guess net revenues for the quarter was up 14.7 per cent. In constant currency, net revenue increased by 7.7 per cent.
By region, the Americas retail revenues decreased 2.1 per cent in constant currency, while comp sales including e-commerce increased one per cent. Wholesale revenues locally surged 11.3 per cent in constant currency. European revenues increased 9.1 per cent in constant currency, while comp sales including e-commerce increased one per cent and Asian revenues rose 25.1 per cent as comp sales including e-commerce gained 15 per cent in constant currency. Licensing revenues increased 23.5 per cent.
Guess was also able to expand the company’s operating margin, despite cost pressures related to its transition to its new distribution center in Europe.
Operating margin in Asia improved by 430 basis points as it continues to leverage its infrastructure investments in China and Japan. In the Americas, the company ended the quarter with positive comps while being significantly less promotional. This translated into a 910 basis point improvement in operating margin for the Americas retail segment.
For the second quarter Guess expects net revenues to rise 14 per cent to 15.5 per cent. For fiscal 2019, revenues are expected to rise 8.5 per cent to 9.5 per cent.
The German pavilion at Techtextil North America was a real eye-catcher.
Visitors were very interested in exhibitors’ products. They gained potential customers and were able to make numerous high-grade contacts. The level of interest shown in German highly innovative e-textile solutions, which are completely new in the sector, was very high.
In addition to the appealing exhibition stand concept and the excellent organisation, the companies taking part were particularly pleased with the high visitor standard.
Besides gaining new customers, the focus of the companies taking part in High-Tex from Germany was on cultivating customer relations. The German pavilion gave them a good opportunity to get to know the US market better.
The companies taking part in High-Tex from Germany made their presentations on around 1,300 sq mts of exhibition space with their own exhibition stands, with selected exhibits on a central Plaza.
Additionally, the German Institutes of Textile and Fiber Research, the Association of the Finishing, Yarns, Woven Fabrics and Technical Textiles Industry and the German American Chamber of Commerce provided insights into current research projects and offered information about the sector.
High-Tex from Germany was a good starting point for cultivating contacts with customers in the United States.
India’s retail market is said to be the world’s third largest consumer economy.
The Indian retail industry has emerged as the world’s fifth-largest global destination in the retail space. It accounts for over ten per cent of the country’s Gross Domestic Product and around eight per cent of employment.
Various initiatives to enhance the retail industry in India are seen as a positive step forward. Demonetization slowed down business across the country but with the Indian customer’s growing interest for global brands and quality shopping experience, brands’ commitment to the Indian market remains high and the overall market continues to be positive.
Brick-and-mortar vs online is not a debate anymore. The kirana store has survived. The typical Indian consumer uses both online and offline touch-points. Brands should find the right mix of channels and offer the strategic blend of online–offline options to customers. Neighborhood stores which have a huge loyalty base can lure younger customers by going online.
Malls are definitely seen as the preferred shopping destination of the consumer as the customer can hang out with entertainment and food chains available around.
Compared to high streets, malls witnessed an increase in lease rentals and land prices.
Brands have to balance their presence between malls and high streets.
A new book describes the origin and evolution of Japanese computerised knitting manufacturing giant Shima Sheiki. Shima Seiki is known for its wholegarment knitting machines.
The success story of Shima Seiki began in 1962 when Masahiro Shima laid the foundation of the company with the sole aim of developing a fully automated seamless glove-knitting machine.
With time, Shima Seiki proliferated its product range, adding flat knitting machines and entered the era of computerisation. As a result, the company started focusing on computer-aided knit design and programming and revolutionised the world of knitting with the introduction of the wholegarment knitting machine in 1995.
Today, wholegarment knitting machines produce knitwear for major high-street brands as well as high-end fashion houses.
The book narrates the story of how Masahiro Shima developed both technology and philosophy and connected them to build the empire of Shima Seiki, the market leaders of today in knitting. The book narrates the story of the inventor himself and how his company brought a revolutionary change in the fashion industry.
Shima Seiki offers total textile solutions. Shima Seiki’s seam-free wholegarment knitting technology offers an alternative to labor-intensive manufacturing.
Wholegarment knitting is capable of producing knitted items in their entirety on the machine, and allows complex 3D forms for fitting the human body or even car seats without the need for sewing.
American Eagle Outfitters (AEO) had digital sales growth of over 20 per cent in the fourth quarter, reaching record levels, making it the 12th consecutive quarter of double-digit growth.
Digital penetration increased 340 basis points in the fourth quarter, expanding to just under 31 per cent of revenue in the fourth quarter, compared to 27 per cent in the prior year period.
Earnings are projected to grow from 16 cents in the corresponding quarter of last year to 22 cents in the first quarter of 2018 (three months ended April 2018). Higher sales, a reduced promotional environment, benefiting from improved consumer confidence, and a lower tax rate are the main factors that should drive earnings growth.
American Eagle’s lingerie and active wear brand, Aerie, has gone from strength to strength, driving sales growth for the company. It posted a 15th consecutive quarter of positive comps in the fourth quarter 2017, at 34 per cent, building on the 17 per cent seen in the prior year period.
In addition to impressive growth in core intimates, the company has seen strength in apparel, active wear, and swim wear. The company expects the brand to cross a billion dollars in sales in the next couple of years, with a lot of this growth coming from its digital channel, which has been growing at a tremendous rate.
Aerie is also expanding its store count, with 35 to 40 new stores expected in 2018.
According to the Brandz Top 100 ranking, Dior, Gucci, JD.com and Abibaba recorded the highest growth in valuation in 2018.
The total cumulated value of these brands increased by 21per cent in a year, reaching $4.4 trillion. Among fashion, luxury and apparel brands, LVMH ranked 26th, Nike 29th, Hermès 39th, Zara 42nd, L’Oréal 44th, Gucci 54th and JD.com 59th.
Also listed were Ikea in 76th place, Ebay in 88th and Adidas in 100th.
The survey was conducted by Kantar. The retail category grew by 35 per cent, thanks to the e-commerce boom.
Technology and tech-related brands like Amazon, Alibaba and Ebay dominated both the retail category and also the Top 100 overall ranking, in which they accounted for more than half of the cumulated value.
Rwanda has expressed its willingness for further discussions with the United States on the dispute of imports of second hand clothes, despite the elapse of the deadline.
Earlier, the US had given Rwanda time till May 30, 2018 to review its stance on used clothes entering the country.
Rwanda had increased the tariffs on imported used clothes from $0.20 to $2.50 per kilo in 2016 with an intention of eventually phasing out the importation. The move is likely to boost its local manufacturing sector.
Rwanda is relying on major clothes manufacturers as the country seeks to phase out import of second hand clothes and promote made in Rwanda products.
It has undertaken several projects to boost the local industry. Some of these include the C&H Garment established at Kigali Special Economic Zone and UTEXRWA and Kigali Garment Centre (KGC), a company with over 400 shareholders tailors raising Rwf3 billion to start a clothing factory.
