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The export value of Vietnam’s textiles and garments in the first four months showed a year-on-year increase of 15.7 per cent. Export value of textiles to the United States showed a year-on-year surge of 11.6 per cent. Vietnam’s exports to the US account for 47.3 per cent of the country’s total garment export value.
The export value of textiles and garments from Vietnam to Japan was 19.6 per cent higher than the same period last year, accounting for 13.3 per cent of the total export value.
The export value of textiles and garments to South Korea increased by 14.8 per cent and 40.9 per cent, respectively, against the same period in 2017.
The value of exports to the European Union rose by 11.8 per cent. The value of exports to Asean rose by 26 per cent.
Vietnam has a target of 35 billion dollars in total textile and garment export value for this year. Enterprises have been asked to fully exploit the working capacity of their workers as well as restructure their management practices to improve labor productivity.
Besides maintaining and developing export markets such as the United States, European Union, Japan and South Korea, enterprises are focusing on developing other markets such as Asean, the Eurasian Economic Union, India and Latin America, including linkage with the distribution system in the local market.
Uzbekistan and Turkey are planning to create a wholesale trade centre for textile products and knitted garments.The center will be inspired by similar centers created in Turkey and Europe.
The two countries have signed deals on transport, energy, and tourism. Joint ventures between the companies of the two nations for manufacturing finished textiles, hosiery, knitwear and sewing products, curtains and more could also be on the cards.
Trade between the two countries rose by 30 per cent in 2017. Uzbekistan exported textile products like cotton yarn, carpets, knitted fabrics and goods, sewing goods and more worth 109.5 million dollars to Turkey in the same year. The figure has already reached 40 million dollars for these products in the first quarter 2018.
Turkey is Uzbekistan’s third highest export destination (after Switzerland and China, and tied with Kazakhstan); on the import side Turkey ranks in the top five (after China, Russia, South Korea and Kazakhstan).
Turkish businessmen plan to invest in Uzbekistan.
Turkey was the first country to officially recognize the independence of Uzbekistan after the collapse of the Soviet Union in 1991.
Uzbekistan is ready to expand the supply of light, chemical, metallurgical, machine-building, electrical engineering, leather, footwear and agricultural products to the Turkish market.
Vietnam`s textile & garment enterprises, in view of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) coming into effect, are stepping up efforts to infiltrate the Australian market, which had an import turnover of over US$6.2 billion in 2017 alone.
The CPTPP was signed on March 9 to facilitate economic growth and open opportunities in a market of total 499 million people and GDP of US$10.1 trillion, accounting for 13.5 per cent of world's GDP.
Vietnam's garment products export turnover to CPTPP's country members in 2017 reached US$4.8 billion, contributing 9.07% of market share. In this Australia accounted for US$6.2 billion, or 11.67 per cent as the third largest garment product importer
For the first quarter Sequential Brands has reported revenues of 38.1 million dollars and a net loss of 2.3 million dollars.
It offers products in the apparel, footwear, eyewear, fashion accessories, and home goods categories. Brands in Sequential’s portfolio include Avia, William Rast, Martha Stewart, Gaiam and Caribbean Joe.
The company licenses its brands through various distribution channels to retailers, wholesalers, and distributors.
As of January 1, 2018, Sequential began using a new revenue recognition standard, ASC 606, but also provided income and earnings information in accordance with the prior year’s standard for the purposes of comparison.
Under the previous revenue recognition standard, revenue for the first quarter 2018 would have been 39.4 million dollars, flat compared to the prior year period. Net loss, however, would have been reported as 1.3 million dollars, slipping further from 1.2 million dollars in the first quarter of 2017.
Sequential remains focused on executing against its strategic plan to grow revenue, manage costs and improve its balance sheet.
After appointing a new CFO in February, the group recently signed a multi-year deal with Chinese sportswear manufacturer Beiying Sports Technology to take its sportswear brand Avia to China, with a cross-channel launch planned for later this year.
Walmart’s stake in Flipkart will have far reaching implications on the etail and retail ecosystem in India.
The takeover has potential to change the growth trajectory of e-commerce and also physical retail. Flipkart has 54 million active consumers, and with this influx of money it can double this base in a short period of time.
The existing consumer base would keep on enjoying the benefits of cost, convenience etc, and would get accustomed to it, and the new consumer base potentially would build up in deeper geographies of India. These new consumers probably would experience fashion through e-commerce before physical retail does it.
The deal presents a wonderful opportunity for niche e-commerce brands or sector-specific brands to create differentiated online experiences. However it will become increasingly difficult for smaller e-commerce players to sustain and grow on their own unless they focus on very specific niches.
This is a bitter sweet moment for India’s startup universe. It is also a validation of Flipkart’s business, processes and the team's capabilities. Walmart’s decision to retain the Flipkart leadership team and retain the brand paves the way for an interesting partnership model. Leveraging backend synergies will play out over time.
In the Indian market online is less than three per cent of the retail industry but is growing at 45 per cent.
According to Kate Hills, founder of Make it British, the campaign to encourage more people to buy British and manufacture in the UK, the greatest threat to the renaissance of British fashion is a lack of skills. According to two thirds of the UK manufacturers, the average age of their workforce is over 40 and a key challenge is how to attract more young people into the industry.
Skills and training will be high on the agenda at this year’s Make it British Live! when the UKFT (UK Fashion and Textile Association) will team up with Make it British to curate a manufacturing skills exhibition at the two-day event on May 23-24 at the Truman Brewery, London.
The exhibition will highlight the work being done to support a new generation of skilled talent to enable UK manufacturers to thrive and will include a skills consultation area with UKFT’s skills and training specialists. A key feature will be the UKFT Made It project, which aims to improve the production and sourcing skills of the UK’s fashion graduates.
According to a recent report by the Portland Business Journal, Nike is filing a law suit against Puma North America Inc for patent infringement.
The complaint accuses Puma of using Nike's FlyKnit, Air and cleat assembly technologies despite Nike's requests otherwise. It also outlines the history of FlyKnit and Nike's years of research, design and development of the technology.
Nike launched the technology in 2012 with its FlyKnit Racer and FlyKnit Trainer+ running shoes. The shoes quickly became popular after athletes wore them during the London games and Nike later went on to use the technology in shoes for football (soccer), basketball, tennis and other sports.
Gucci has opened a store in the US which will be the first in the world to feature the new Gucci DIY assortment including lettering in a variety of fabric and color combinations on unisex luggage and Ace sneaker.
A digital interactive tool will be unveiled at the store allowing clients to view their customized products in real time through AR technology.
The store houses women’s and men’s ready-to-wear, jewelry, accessories, and décor.
The design concept of the store was conceived exclusively to maintain the integrity of the original framework. The restored brickwork, wooden floors, tin ceiling, and iconic columns highlight the intricate cast-iron architecture that characterizes SoHo. Three different hand-painted floor designs, executed by Italian artisans, introduce color and pattern, while original steel tiles speak to the neighborhood’s industrial history.
Bold colors of turmeric orange and burgundy vivify the interior and seating is covered in Gucci prints and fabric. Luggage carts, freestanding furniture with stone inlay and vintage pharmacy fixtures display products throughout the space. Reinforcing the industrial spirit of the building, custom brass fixtures frame the brick walls.
In addition to an interactive LED wall, the store also debuts 3D video display. These innovative screens feature glasses-free 3D technology and will immerse viewers into the realm of Gucci.
Stoll, Germany’s leading 3D knitting machinery company, and Myant, Canada's leading textile computing company, are proud to announce the launch of their Digital Textile Factory.
The Digital Textile Factory provides the foundations for the mass application and adoption of Textile Computing, a new industry category that merges advancements in engineering and material science, to provide textile-based solutions for companies wanting to innovate and connect textiles to the world of IoT.
Stoll’s 140 years of producing 3D knitting machinery and software, transferring textile knowledge, and establishing ‘Knitelligence,’ or knitting innovation, along with Myant’s proprietary technology related to biometric sensing and actuation via textile combine to deliver valuable solutions for partners and customers at a global scale through an accessible virtual network.
The Digital Textile Factory of Myant and Stoll will set a universal standard for distribution across various industries including, but not limited to, automotive, health and wellness, industrial, agrotech, lifestyle, gaming, apparel, medical, military and aerospace, and safety.
Myant and Stollwelcome inventors, academic centres, research facilities, medical institutions, startups, etc. to visit us at Techtextil North America in Atlanta, GA on May 22nd to 24th, 2018.
Hong Kong-based Li & Fung has signed an agreement with US firm Softwear Automation. The agreement will initially cover the manufacture of T-shirts.
Softwear Automation has developed a Sewbot autonomous sewing workline for the production of pillows, footwear, car mats, bath mats and towels.
Sewbot allows just one employee to man an entire production line and can produce a T-shirt in just 22 seconds. The bots can cut and sew a new shirt every 22 seconds from very soft and flexible fabric. The designs can also be changed very swiftly according to market demand.
The agreement is a key plank in Li & Fung’s three-year plan, which seeks to accelerate the process of supply chain digitisation in the apparel and footwear industries. Through this collaboration the company wants to partner with an initial set of manufacturers to create a first fully digital apparel supply chain and use those learnings to scale the technology and create customised solutions for its supplier network around the world.
The partnership with Softwear Automation is another building block in Li’s end-to-end digital supply chain.
The development of sewbots is one of the true game changers for the fashion industry. Consumers’ demand to get things faster, quicker and more unique than ever before is increasing. Sewbots enable the speed needed for on-demand, made-to-measure manufacturing, at scale.
