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"With off-duty models and executives preferring garments that are as elegant and versatile, loungewear is gaining traction owing to the comfort they provide on a long-haul flight. With loungewear getting a makeover and the luxury treatment – tailored jogging bottoms at Céline and Chloé, and tracksuits rendered in cashmere by the likes of Brunello Cucinelli, The Elder Statesman and Olivia von Halle, the dynamics seem to be changing for the segment."
With off-duty models and executives preferring garments that are as elegant and versatile, loungewear is gaining traction owing to the comfort they provide on a long-haul flight.
With loungewear getting a makeover and the luxury treatment – tailored jogging bottoms at Céline and Chloé, and tracksuits rendered in cashmere by the likes of Brunello Cucinelli, The Elder Statesman and Olivia von Halle, the dynamics seem to be changing for the segment. Vetements even featured a velour version in its Spring/Summer 2017 show, created in collaboration with Juicy Couture, one of the first brands to position the tracksuit as a fashion piece. According to Helen David, chief merchant, Harrods, there has been a rise in the parka, the bomber, and jean jacket and trainers worn with everything, unlike earlier. Silk drawstring pants have been a hit at Chloé and gym staple Champion pants have become street style stars.
Transformation on its way
Going by the immense popularity, retailers are experimenting with designs. At Harrods, cashmere joggers continue to be best-sellers at both ends of the scale. While Matches registered 300 per cent spike in the sales of sweatpants. Likewise, Selfridges, which launched a dedicated space for lingerie, nightwear, activewear and loungewear in April this year, has seen sales of premium loungewear grow 30 per cent year-on-year, while sales of cashmere loungewear pieces have doubled.
Brands too are harnessing the benefits. Two weeks after launching a cashmere tracksuit collection on Net-a-Porter, luxury nightwear brand Olivia von Halle sold 85 per cent of its stock. Von Halle thinks that true luxury is now much quieter and more refined.
Redefining comfort
Andrea Karg, Creative Director of Munich-based Allude Cashmere, for whom loungewear now drives 40 per cent of womenswear sales believes it’s a lifestyle choice; a statement that one is practical and busy, but beautiful and extravagant at the same time. Indeed, loungewear aligns with consumers’ increasing preference for wellbeing-enhancing experiences. Cashmere tracksuits and sweatshirts are part of this — they are luxury products that make life easier.
This immense growth is the result of varied lifestyle of the modern consumer, who expects clothing to be comfortable and versatile enough to accommodate her hectic schedule, without compromising on style. Brands have developed ranges that are for the modern woman’s life, whether she’s at home, running off to the gym, travelling, on a plane, working — these kinds of brands and items work across purposes.
Global travel growth boost segment
The growth of global travel has catapulted the luxury loungewear category, with products like cashmere tracksuits and tailored sweat pants offering consumers a way to be both comfortable and chic on a long-haul flight. The growing importance of social media also has a role to play in this growth journey. With social media, people’s live is under scanner — 24 hours a day — so they want to look good all the time be it travelling, hanging out and having breakfast.
In Xiaoshan, China, the price of 30s spun viscose prices dropped to 3 US cents a kg in the third week of October, while 40s compact sirospun yarn prices in Jiangsu were slid to 6 US cents a kg on the week. This at a time when despite market seeing smooth business activity, Viscose spun yarn prices continued to decline in China which has led to snug supplies of some specs.
Upstream, VSF prices also fell easing cost support to yarn markers. Offers for Xiaoshan-origin 30s yarn dropped to maintain demand at certain level. However, yarn makers resisted any sharp decline in prices to avoid the new downward trend to further depress markets.
Viscose yarn prices have also been lowered in India at the same time, although very slightly. 30s viscose spun yarn prices fell Rs 1 a kg in the Indore market during the week. But in Pakistan, the cost of VSF continued to go up on firm import offers.
In a new publication titled ‘Acrylic Fibre Market: Global Industry Analysis and Opportunity Assessment, 2016 – 2026’ key insights on the global acrylic fibre market have come to light. Utmost demand for acrylic fibre is expected to come from Asia Pacific, Middle East Africa and Latin America. In the forecast period, the global acrylic fibre market is projected to reach a market value of US$ 6,197.82 million by 2026 end registering a CAGR of 3.6 per cent.
The global acrylic fibre market is divided on the basis of dyeing method, fibre form, blending, end-use and region. As the demand for acrylic fibres is stagnant in developed economies of North America and Western Europe, significant opportunity for growth in the global acrylic fibre market lies in the regions of APEJ, Latin America, and Middle East and Africa.
Owing to their capability to accept multi-colour dyes in clear, bright and muted tones, acrylic fibres possess good aesthetic properties. They impart natural aesthetics to fabrics as opposed to their nylon and polyester counterparts.
Also, acrylic fibres have excellent resistance to ultraviolet degradation, weak alkalis, and microbiological attack. Due to such physical, chemical, and thermo-biological characteristics, acrylic fibres are becoming popular in their use by blending with other materials such as wool, cotton, polyester etc.
Moreover, acrylic fibres are used in various end-use industries such as apparels, home furnishing etc. With macroeconomic development of these end-use industries supported by regional GDP and population growth, the demand for acrylic fibres is further expected to increase, specifically in the Asia Pacific region over the coming years. Besides, irregular supply of wool and cotton at a global level is pushing manufacturers to blend acrylic fibre with wool and cotton for use in the manufacture of products such as blankets, sweaters, etc.
Coats Group plc (Coats), the world's leading industrial thread manufacturer, has appointed Rajiv Sharma as its Group Chief Executive with effect from January 1, 2017. Currently, he is serving as Executive Director and Global CEO, Industrial.
By mutual consent, current Group Chief Executive, Paul Forman would leave the Company on 31 December this year and take up the role of Chief Executive at Essentra plc, a FTSE 250 company and a leading global provider of essential components and solutions. Paul became Group Chief Executive of Coats on 31 December 2009.
Rajiv Sharma joined the Company in November 2010 and is responsible for the global Industrial business that accounted for approximately 80 per cent of the Group’s revenues in 2015. Under his leadership, the company has built new commercial and operational capabilities to deliver a strong track record of profitable sales growth.
The company has been at the forefront of product and service innovation for the global apparel and footwear industries and Rajiv has overseen the expansion of the Speciality business into emerging applications such as fibre optic cables and value added engineered yarns used in composites and conductive products. Sharma was appointed an Executive Director of the Company in March 2015. His experience spans multiple disciplines, including M&A, digital and leading large complex businesses, in a range of industries, across five continents.
In its bid to strengthen trade ties with the US, Pakistan has asked the Nation to give it a preferential access to the US textile market. The topic came up at the 8th Trade & Investment Framework Agreement (TIFA) council meeting where ways to give Pakistani exporters belonging to various sectors including textiles, more access to the US market was discussed.
Giving a broader hint to this stance, Pakistani minister for commerce Khurram Dastgir Khan said that several international institutions have substantiated Pakistan’s stable economy while the security situation has also greatly improved that Pakistan is now a lot safer today than it was a few years ago. A durably stable Pakistan would not only bring prosperity to its people but would also allow it to play a role in creating a stable region, which is their mutual goal, he added.
The delegation to deliberate upon trade ties between the two countries was headed by Khan, while the head of the US delegation was Ambassador Michael Froman, United States Trade Representative (USTR), according to an official statement. Froman was of the opinion that TIFA can serve as a premier forum for advancing trade investment relationship between the two countries. This agreement can help improve the economic relationship. He said that Pakistan’s important structural reforms resulted in enhancing overall economic growth and lowering inflation, providing a conducive environment for further strengthening trade ties between two countries.
Karl Mayer will take part in the India ITME 2016 to be held in Mumbai from December 3 to 12. Mumbai. There, the renowned producer will be showcasing innovations from warp knitting, warp preparation and technical textiles.
For the Warp Knitting Business Unit Karl Mayer will be showing its successful duo belonging to the tricot segment: the HKS 3-M as another representative of the fourth generation of high-performance tricot machines, and the HKS 4-M EL, the high-speed all rounder that sets new standards in terms of patterning possibilities and productivity. Both models will be shown in a working width of 218" and a gauge of E 28. Besides, LEO® – a clever technology for energy saving and, thus, for cost saving – is supplied as standard feature on all these machine types.
At the exhibition, the HKS 4-M EL will make use of its design advantages offered by the EL function; it will be producing a lightweight, very delicate fabric in lace look for the clothing sector. The semi-transparent article has only a weight of 31 g/m². It consists of a very delicate, filigree, embroidery-like fabric ground made from monofilament yarn, and a relief-like patterning made from a textured PES yarn.
In Mumbai the HKS 3-M machine will be producing a rigid sportswear textile with a filigree, grainy surface in woven look. The maximum targeted speed is 2,800 min-1. Despite its impressive speed, the HKS 3-M is highly efficient due to the specific function integration on the basis of KAMCOS® 2, and with its new ergonomic machine design it also has a stylish look.
Karl Mayer will be presenting its new lace machine concept Lace.Express for the first time in India. Lace.Express sets new standards in terms of price-performance ratio when manufacturing garment lace.
The highlights of Karl Mayer’s Warp Preparation Business Unit are innovative solutions for sizing, sectional warping and for the denim business. For the denim sector, the company will be showing the model of the complete indigo dyeing unit Prodye.
It may sound surprising to note that Banglades sales of interlining, a piece of fabric used in smartening garments, run into $120 million a year. It means interlining, however small it may be, is important. The interlining is a material used as an extra lining between the ordinary lining and the fabric of a garment. The interlining is a material used as an extra lining between the ordinary lining and the fabric of a garment.
Globally; China is in a leading position in the interlining business. Although the business of interlining in Bangladesh is not new, the volume is not too high as a small number of entrepreneurs invested in this segment. In Bangladesh, it is used as an accessory, mainly in the collars of shirts; there are five to six interlining factories across the country at present.
Osman Interlinings Ltd started its business as the agent of a Chinese company in 1994. Later, the company began its own business in a rented factory at the DEPZ in 2001, and moved into its new factory this year. Speaking at his factory, he described his company’s journey to become a green building in the small interlining business.
Thanks to the LEED certification from the United States Green Building Council, the company can save 28 per cent of energy and 46 per cent of water. The factory harvests rainwater to use for production purposes to reduce groundwater consumption.
The company’s major customers include H&M, Aldi, Tema, Charles Vogele and Kappa. It is a concern of Concorde Garments Group headquartered in Dhaka. The group has garment factories in Mirpur and Ashulia in Dhaka. A total of 4,000 workers are employed in the group’s Lily Apparel and Concorde Garments, which mainly produce shirts and ladies’ tops.
In its zest to achieve investment potential of around US$ 42 billion in the coming years, China is getting closer to Bangladesh. But all said and done, the country is likely to come up with some $25 billion for the projects it has committed. Talking about the same, an official said though China doesn’t want to emphasise the figure of investment volume, it wants to engage deeply with Bangladesh ensuring a win-win situation.
With the implementation of Belt and Road Initiative as well as BCIM (Bangladesh, China, India, Myanmar) Economic Corridor, many investors in China have expressed their interest to invest in Bangladesh in the fields of textile, garment and infrastructure projects, it is learnt. But no official announcement regarding investment figure during the visit of Chinese president Xi Jinping.
A government official however said that the actual amount that China will provide cannot be mentioned yet, but it will be somewhere between US$20 billion to US$25 billion. The Chinese side said their business people have encountered some difficulties in Bangladesh like land acquisition and natural gas supply which the host country is trying to address.
According to a document of the Economic Relations Division (ERD), Xi Jinping stressed on promoting greater joint contribution and sharing the interest with each other countries participating in the Silk Road Economic Belt and 21st Century Maritime Silk Road initiative.
Earlier, a memorandum of understanding (MoU) was signed between Bangladesh Economic Zones Authority (BEZA) and China Ministry of Commerce on cooperation in the establishment of Chinese Economic and Industrial Zone (CEIZ) in Bangladesh. Following that authority allotted a land for the proposed economic zone that is situated in Anwara Upazila of Chittagong district on 774 acres of land.
In the past few years, sustainability has moved from niche to mainstream. Investors in the apparel space see it as adding to long-term value. It helps them determine long-term risk and a company’s dedication to long-term value. Sustainability creates value and implies lower risk and higher returns.
There has been a growth in investment strategies that are more focused on environmental and social governance (ESG) integration. Today, 90 per cent of the top 100 asset managers around the world have committed to evaluating ESG factors in all their decisions. Consumers’ increasing demand for transparency in sustainability and corporate social responsibility, have led to a jump in company- issued sustainability reports.
Only 20 per cent of S&P 500 companies issued a sustainability report in 2011 and today 82 per cent do. There is set to be a huge shift in the way investments are selected over the next two years. Environmental and social governance factors will play a huge role.
Firms are putting their investment weight behind ESG. However, there are challenges. Obtaining and analyzing ESG data will require new tools, resources and skills for both asset managers and owners. So technology will play an extremely important role in helping them meet their goals.
67 per cent imports of Bangladesh are now coming from top 10 source countries. In the last fiscal year (FY) 2015-16, the country’s total exports were valued at $36.75 billion. This excludes that of the Export Processing Zones, according to the Bangladesh Bank (BB) data.
In FY16, the actual import payments, in free on board value, stood at $39.71 billion. On the other hand, China followed by India were the largest source of the country’s imports. In the last fiscal year, imports from China stood at $9.64 billion which was $8.23 billion in FY15. Thus, China’s share in total imports stood at 26 per cent.
Bangladesh’s imports from India, however, slid to $5.45 billion in the last fiscal year from $5.82 billion in FY 2014-15. Imports from the country’s neighbouring country constituted 15 per cent of the total imports in Bangladesh.
In FY 2015-16, Singapore was the third largest exporters of goods to Bangladesh. Imports from the city-state stood at $1.96 billion in the last fiscal year followed by Japan from where products worth $1.60 billion were imported. Indonesia ranked fifth as an import partner from where goods worth $1.22 billion were purchased in the last FY. The United States (US) has emerged as the sixth largest import source. The imports from the US jumped up by around 46 per cent in the last fiscal year to $1 billion from $690.6 million in FY15.
