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British brand Paul Smith is slowly getting back on its feet. The company has recorded a 3.5 per cent increase in revenue to £185 million for the year up to June 30, while profits before exceptional items increased by 45 per cent to £5.7 million. The results come after a year of restructuring following an 8 per cent decrease in full-year revenue in the previous year.
The high-end clothing company spent most of 2017 carrying out restructuring measures and strengthening its two product lines Paul Smith and PS Paul Smith. Retail sales for the year increased 11 per cent overall and 3 per cent on a like-for-like basis, reflecting the closure of the Paul Smith Fifth Avenue store in New York in January 2016 and the relocation of the Paul Smith flagship store in Paris in September 2016.
However, extraordinary items and the continued restructuring sent the brand’s profit for the year tumbling by 74 per cent from £7.8 million to £2.1 million. As per the company its retail performance continued to improve since year end, with season to date sales for the AW 17 season up 18 per cent, or 11 per cent on a like-for-like basis.
And whilst wholesale sale decreased 11 per cent to £74.1 million in 2017, hit by weak demand in the UK, France, Russia and Asia, wholesale forward orders for SS 18 were up 7 per cent on the previous Spring Summer season. Paul Smith has stores in London, Paris, Milan, New York, San Francisco, Los Angeles, Hong Kong, Singapore, Taiwan, Korea and the UAE.
The 8th edition of the International Apparel and Textile Fair (IATF) is due to take place during 24th to 26th April 2018.
The November 2017 edition was inaugurated by H.E Butti Al Ghandi, Board of Director of the Dubai World Trade Centre at Hall 6, Dubai World Trade Centre.
With more than 140 exhibitors from various countries around the world, IATF has once again proven its claim as UAEs exclusive sourcing fair for textiles and clothing.
IATF provides a platform to manufacturers and their agents to showcase their collection to the most influential buyers and designers in the MENA region.
The event also, offers buyers, distributors and designers the opportunity to view an extensive range of textiles from big branded mills in the world of fashion and design.
IATF attracts some of the world’s largest manufacturers of fabrics and leading print design studios. Exhibitors mainly from India, the UK, China, Japan, Taiwan, Turkey, Hong Kong, Thailand and other countries are sprucing up their act for the Spring/Summer April 2018 edition. The expo saw exclusive pavilions from India, China and Taiwan.
The Federation of Indian Exports Organisations brought 50 exhibitors from India who displayed their extensive collections in the Indian pavilion which was inaugurated by Vipul, Consul General of India. A Sakthivel, Regional Chairman, FIEO Southern Region and leader of the Delegation said that India and UAE need to work together in the textiles segment to promote high quality and fashion clothing industry which can be promoted not only in the West Asia and West African region but also in other developed countries, including the EU and the US from Dubai.
The platform was also used to conduct various workshops on hot industry trends such as 3D printing and embroidery using state of the art machines.
‘Denim for All’ is H&M’s latest initiative and to launch the Spring season the retailer is putting up an apparel line that encompasses global denim diversity. H&M has announced its new ‘Denim for All’ collection, a line-up that features coloured jeans, new silhouettes and versatile pieces for individual styling. The collection, which will be displayed in H&M stores worldwide and on hm.com this month, retails from $24.92 to $78.40 and features jeans, jackets, dresses and other core garments made with denim.
An international campaign, featuring influencers Adonis Bosso, Anaïs Gallagher and Suki Waterhouse, compliment the collection and are looking at inspiring consumers to wear denim as per their own wardrobe preferences. Pernilla Wohlfahrt, H&M’s head of design says, “At H&M, we believe denim is for everybody. This spring is all about wearing denim your own way, with fresh cuts and colours for all. And we’re in love with double denim.” For women’s wear, the collection features new denim suggestions for Spring. Outerwear, including blush pink and yellow jean jackets are available to pair with various denim pants, including boyfriend and skinny jeans.
Core denim details, like fades, tears and signature stitching, appear in each collection garment. Some of the collection’s jean jackets will also feature details like embroidery, patches and pearls so consumers can create a more personalised look. The collection’s men’s wear, teen apparel and kid’s wear also provide an added twist to denim. For men’s, the collection features distressed denim jackets and jeans. Denim for teenage girls takes a vintage flavour and includes denim slip dresses and patchwork denim jackets. For kids, faded styles provide versatility for school and play.
Denim producers now have a new way to significantly reduce their environmental footprint due to a new indigo spray dyeing procedure for production developed by DyStar and RotaSpray. The solution was first found in 2015. Since then, DyStar and RotaSpray have been working together to develop it further and make it available for bulk production in key denim markets such as Turkey, India and Pakistan.
With the recent breakthrough, they are now introducing a salt-less dyeing solution for the denim industry that offers flexibility for dyeing small lot sizes as well as reduced water use and effluent discharge in yarn dyeing. The new spray dyeing technology combines DyStar Indigo Vat 40 per cent solution, Sera Con C-RDA organic reducing agent and optimisation of spraying parameters of the patented RotoDyer and RotoCoater spraying technology.
DyStar noted that although rotary atomisers have been in use for several decades in the textile industry, they were mainly used for rewetting textiles with moisture. But recent cost pressure and a global demand for more sustainable solutions were key motivators for R&D that led to the new product.
DuPont Advanced Materials has introduced DuPont Intexar, a powered smart clothing technology for on-body heating. Intexar Heat is a thin lightweight and durable heating solution for outdoor clothing that is designed to be easily integrated into garments. DuPont highlighted Intexar Heat in partnership with the Formosa Taffeta Company at the recent ISPO Munich trade show.
Michael Burrows, global business manager at DuPont Advanced Materials said, “Intexar Heat is a revolutionary stretchable ink and film that when powered, creates a comfortable warmth. From outdoor enthusiasts to industrial workers, Intexar Heat can help conquer the elements in comfort, increasing focus and improving performance.” Formosa Taffeta is the first textile manufacturer to take advantage of Intexar Heat technology as part of its Permawarm line.
Current fashion trends are changing at a quick pace and demand for individualised products is rising. These are the challenges faced by apparel manufacturers. And what better solution than digitisation, however, through the entire process chain Human Solutions will show just how this can be done at the PI Apparel show on February 12 and 13 in Los Angeles.
Andre Luebke, General Manager of Human Solutions of North America Inc. says, many companies are recently defining their way towards digitisation. There’s a heady feeling of sweeping change and optimism in the air. Digitisation is no longer being challenged and doubted. Companies know that digitisation offers new opportunities and creates new business models.
Luebke says 3D is the key to more speed. “We offer a simulation that is so close to reality, that you think you can touch the garment. Our software Vidya can replace physical prototypes. The drafts can also be used for order and webshops’. At the PI Apparel, Human Solutions will showcase how 3D is changing the way of product development in the apparel industry,” he added.
Andre and Matthew Cochran, VP Business Development, On-Point Manufacturing, will offer a session ‘Adapting your Design, Development and Manufacturing Processes to the New Shopping Habits of the Ever-changing Consumer’. Human Solutions will share information about “Size North America.” This is the most extensive measurement survey project on the North American continent to date, which started in 2017. It is carried out by Human Solutions in collaboration with many partners. During the survey, body measurements, proportions and demographic data of 18,000 men, women and children will be collected. At the PI Apparel, Human Solutions presents first results and tendencies.
The Confederation of Indian Industries (CII) is aiming to develop the local economy by synergising the strength of labour in Tiruchi with the entire textile industry eco-system in Karur and Tirupur districts where expansion is limited due to shortage of workforce. State CII officials held discussions with the Collector P Rajamani and other senior officials to implement infrastructure for finishing and packing of export-quality textile products being transported to Tuticorin port from the two districts through Tiruchi.
With focus on increasing industrial activity in Tiruchi and promoting entrepreneurship, the CII team also discussed the methodology to use land banks in sub-urban and rural pockets including Tiruverumbur, Manapparai, Thuraiyur to establish industries on cluster basis to harness water, improving air connectivity to domestic destinations, expanding cargo activities and to also help focus on agro-processing.
P Ravichandran, Chairman, CII Tami Nadu said, “The Tiruchi Zone of CII will shortly be releasing the District Development Plan with specific details.” Tiruchi region will stand to gain significantly from the Defence Industrial Corridor project and the proposal of Chennai Petroleum Corporation to establish a new refinery in Nagapattinam district, they added.
Retailers Association of India (RAI) feel reduction in corporate tax to 25 per cent for MSME (medium, small & micro enterprises) companies with turnover up to Rs 250 crore is a welcome move, which will benefit a large number of retailers. As Kishore Biyani, Group CEO, Future Group says, textile, footwear and leather industries will benefit from this Budget. The steps announced in the budget will help attract larger corporate investments in the sector and make it more attractive for players like Future Group to establish stronger linkages between the farmers of rural India and consumers of urban India. India is home to almost every climatic zones the world has, and therefore has the ability to produce almost every food produce. Investments in processing this produce will go a long way in helping more than half of the country’s population earn more for the hard work they put in their fields.
The government’s focus on easing the labour norms and the budgetary support towards the textile and footwear industry will help the sector immensely. Most of players in this segment are MSMEs and the linking of Trade discounting system (TReDS) with the GST network, the MUDRA scheme and increasing financing options for them will bring in more ease in conducting their business. The textile, footwear and leather industries are among the largest employing sectors in India and will benefit from this budget.
Retailers views
Kumar Rajagopalan, CEO, Retailers Association of India (RAI), elaborates agriculture, infrastructure, healthcare and rural development seem to be the key focus areas of the Budget 2018. The immediate impact on consumption, either negative or positive, are not expected. There is no real additional money in the hands of the middle class with which consumption can improve. However, the basic necessities of the poor will be met because of the various schemes announced. The proposed reduction in corporate tax to 25 per cent for MSMEs with turnover up to Rs 250 crore is a welcome move, which will benefit a large number of retailers. They will be able to save on taxes that they would have otherwise paid at a higher rate. Overall, the budget is pro-poor, and one with a long-term impact with no immediate benefits for retail sector.
Analyst’s perspective
Anil Talreja, Partner, Deloitte India on Consumer Business says one of the subtle repercussions of the Union Budget 2018 is towards strengthening collaboration of domestic sourcing with the global retailers. Recently, there was refresh announcement made regarding allowance of 100 per cent investment in single brand retail trade by foreign investors. It is known that 30 per cent sourcing condition plays an important role in such cases. Some global retailers who have no dealing with Indian sourcing companies were nervous of meeting such mandatory requirement. The sourcing of 30 per cent of the value of goods purchased needs to be done from India, preferable from MSMEs, village and cottage industries, artisans and craftsmen in all sectors.
Aashish Kasad, Partner C consumer products and retail sector tax leader, EY India, point out corporate tax rate reduction to 25 per cent should benefit smaller organisations. Budget 2018 continued to deliver on the government’s stated development agenda of enhancing the rural economy and doubling the farmers’ income, supporting the poor and underprivileged, developing the infrastructure, promoting digital economy and prudent fiscal management. There are several positive measures for boosting the agricultural economy including the food processing sector in terms of MSP for farmers for the Kharif crop to be increased to 1.5 times the cost of produce as well as Farmer-Producer Organisations to be entitled for a 100 per cent tax deduction for the AY 2019-20 until AY 2024-25, if their total turnover is less than Rs100 crore in a year. Further to incentivise manufacturers of apparel, footwear or leather products to boost the employment generation, the employment day criteria has been relaxed for availing the tax deduction.
The corporate tax rate has been reduced to 25 per cent for companies having a turnover of less than Rs 250 crore in FY 2016-17, which should benefit smaller organisations in ploughing back profits to grow the business further. To further promote the ‘Make in India’ initiative, customs duty has been hiked on import of several consumer products. Overall, the budget has stayed the government’s course of driving growth while trying to curtail the rise in fiscal deficit and inflation.
Spinexpo, a professional trade exhibition dedicated to promoting innovation in yarns, fibres and knitwear, is set to open doors to an international audience and buyers from February 6 to 7 in Paris. Unveiling a highly anticipated avant-première of Spring/Summer 2019 collections to the European markets, Spinexpo brings new inspiration with collections and innovative product offerings from a selection of leading international exhibitors encompassing yarn, fibre and knitwear.
The organisers say, “Our Shanghai-based exhibition has been an on-going catalyst for the textiles and fashion industry and continues to be a driving force in moving both suppliers and buyers forward, urging them to bring newness in design and innovative technical applications to the market. Buyers have come to recognise Spinexpo as a place of paramount importance, the vanguard of cutting-edge ideas, creativity and inspiration.”
Many exhibiting companies have been suppliers to European textiles organisations and are now directly showcasing their creativity, providing better lead-time in the delivery of products and offering bespoke personalised services. Esquel Group is presenting their new, unique ultrafine merino originating from Lindis, New Zealand — Lindis Ultra fine merino wool ranges between 10.6 to 14.5 microns, with cashmere ranging from 13 to 15.5 and standard wool ranging from 16 to 35 microns.
Lindis Merino is a naturally elastic fibre due to its unique helical molecular structure. It is naturally breathable and hygroscopic, making garments very comfortable to wear, providing thermal retention and a soft hand-feel.
The Esquel Group is proposing a new yarn made by blending its premium extra–long-staple cotton from its own avant-garde ecological farm with Lindis ultra-fine merino wool, achieving the balance between softness and warmth. The company explains in a statement, “This will allow upmarket brands to differentiate from their competitors.”
UPW has taken the challenge to produce intelligent future yarns that are sustainable. One of the yarns in focus for this coming Spring/Summer 2019 is Tropical – a 2/32 Nm, 25 per cent recycled cotton, 30 per cent cotton, 45 per cent UV resistant polyester, machine washable protection yarn which shields the skin from harmful UVA and UVB rays, has mosquito repellence and responsibly uses recycled cotton fibres.
The minimum wage board for the Bangladesh cotton textile sector has finalised its recommendations, providing Tk 5,710 as gross monthly pay for the sector workers. Currently, the minimum wage for this sector is Tk 3,302 which was set in 2011.The wage board published the proposal along with other recommendations in a gazette notification on January 24, they were asking for any written objections against or suggestions on the recommendation in 14 days.
Both owners and workers representatives to the wage board said the board made the recommendation ‘unanimously’ while labour leaders said that the proposed amount was not acceptable. Wajed-ul Islam Khan, a veteran labour leader and former coordinator of Sramik Karmachari Oikya Parishad, said the amount of proposed minimum wage for the cotton textile sector was not acceptable. “It is not possible at all for a worker to meet the monthly expenditure of family with Tk 5,710. I don’t know how the wage board has proposed such a poor amount as the minimum wage,” he said.
In its recommendations, the wage board has incorporated 10 grades for workers and six grades for employees in the sector. The government formed the wage board in April last year to review the minimum wage for the cotton textile sector workers within six months. Later, the government extended the time by six more months and the board members visited several textile and spinning mills to assess the living standard of workers, productivity, production costs, prices of products and strength of the sector. After the assessment, the board has proposed Tk 5,710 as the minimum monthly wage for the workers in grade-10.
The ITM 2018 International Textile Machinery Exhibition will be held in Istanbul from April 14 to 17, 2018. With the participation of hundreds of manufacturers showcasing leading technologies and worldwide industry investors and trade delegations that are expected to come, the event will be a spectacular textile show. ITM Exhibition, besides being the largest exhibition of Turkey and the Middle East, is also one of the most important organisations of the industry globally.
The ITM 2016 Exhibition, saw a 100 per cent occupancy rate with 1,200 exhibitors and representatives and approximately 50,000 visitors from 76 countries worldwide. A new record is expected to be broken on both exhibitor and visitor front at ITM 2018 where all halls are full. ITM 2018 will become a textile technology extravaganza with the participation of leaders of the textile world, those serving all subsectors of the industry, from cotton to yarn, weaving to knitting and digital printing to dyeing and finishing.
It will sees worldwide product launches of many domestic and international companies. Another important aspect is the visa agreements between Turkey and countries including India, Pakistan, Bangladesh, Indonesia, Vietnam, Egypt, Algeria, Tunisia, Morocco, Iran, Uzbekistan and Turkmenistan which will ensure numerous visitors from these countries.
ITM 2018 will concurrently host Hightex 2018, the Istanbul Yarn Fair and the ETT2018 Conference at the same time.
