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British sportswear and apparel retailer and owner of the brand Sports Direct, Frasers forecasts a profit of £575 million to £625 million in FY25.
During the year ending April 28, 2024, the company’s annual profit rose by 13.1 per cent while its adjusted pretax profit grew to £544.8 million ($708.4 million) as against £478 million reported in the previous year.
The company anticipates this growth will continue in the new financial year as it benefits from a strategy to move the group upmarket.
Controlled by founder Mike Ashley, The FTSE 100-listed Frasers is implementing an ‘elevation strategy’ which includes investments in flagship stores, online operations, and stronger partnerships with brands such as Nike, Adidas, and The North Face.
The retailer’s ‘Elevation Strategy’ strengthens its financial performance, with strategic brand relationships offering a better access to products across the group. The company believes, the strategy will continue to drive growth with significant synergies from both automation program and the integration of acquisitions.
In addition to Sports Direct, Frasers' portfolio includes brands such as House of Fraser, Flannels, USC, and Jack Wills. The group also holds strategic equity stakes in various other retailers, including Hugo Boss, ASOS, Boohoo, Currys, and AO World.
Being held from July 19-25, 2024 at the Sri SatyaNigamagamam, Sri Nagar Colony in Hyderabad, the Silk of India Handloom Expo 2024 showcases India’s artisanal craftsmanship and cultural heritage.
Organised by Bengal Handloom Art Exhibition, the expo was inaugurated by senior Tollywoodactress Raasi, alongside organisersSomnathBowmick and Abhijit. It brings together weavers, designers, and handloom enthusiasts from across the country.
Expressing his excitement over the expoBowmick says, the Silk of India Expo is set to dazzle visitors with an extraordinary display of handwoven textiles and traditional crafts from over 50 master weavers across the region. Visitors can explore a wide array of handloom products, including sarees, scarves, fabrics, home textiles, and more, all crafted by skilled weavers using traditional techniques.
The expo features renowned master weavers from across India, showcasing their exquisite creations such as Banarasisarees, Bhagalpuri silk, Bangalore silk, Chennai silk, Mysore silk, Dharmavaram, Pochampally, Jamdani, linen cotton, tussar, Vishnupuri silk, dress materials, Chanderi, jewelry, etc. This event is a unique platform to celebrate and support the rich traditions of handloom weaving and the artisans who keep these traditions alive.
The alpaca fiber industry is projected to grow at a CAGR of 3.2 per cent from 2022 -32, to reach a value of $ 4.7 billion by 2032. As per an analysis by FMI, this growth will be driven by the increasing global utilisation of the fiber across the automotive industry.
The trend towards sustainable and eco-friendly garments is also expected to booost demand for alpaca fiber products.
Additionally, higher consumer spending capabilities and favorable weather conditions in certain regions will spurr demand for alpaca fiber accessories, propelling market growth.
North America is expected to be the most opportunistic market for alpaca fiber, expanding at a 4 per cent CAGR.
Asia will emerge as a leading region due to the surge in demand for stuffed and plush toys. The growing population and increased consumer spending capabilities are expected to drive demand for soft toys, positively impacting market growth.
The alpaca fiber industry is projected to grow at a CAGR of 3.2 per cent from 2022 -32, to reach a value of $ 4.7 billion by 2032. As per an analysis by FMI, this growth will be driven by the increasing global utilisation of the fiber across the automotive industry.
The trend towards sustainable and eco-friendly garments is also expected to booost demand for alpaca fiber products.
Additionally, higher consumer spending capabilities and favorable weather conditions in certain regions will spurr demand for alpaca fiber accessories, propelling market growth.
North America is expected to be the most opportunistic market for alpaca fiber, expanding at a 4 per cent CAGR.
Asia will emerge as a leading region due to the surge in demand for stuffed and plush toys. The growing population and increased consumer spending capabilities are expected to drive demand for soft toys, positively impacting market growth.
Fast fashion giant H&M plans to launch a co-branded collection at the Shanghai Fashion Week in October 2024.
To be launched in collaboration with the Chinese designer brand Garçon by Garçon, the collection titled, ‘Le Soleil The Sun,’ will feature women’s wear, men’s wear, unisex items and accessories. The collection blends ancient Greek and classical Persian influences form the 5th century BC with traditional Eastern aesthetics.
Founded by designer Tang Dayun, Garçon by Garçon is known for its unique visual storytelling that merges Eastern and Western narratives, scroll drawings, and mythological techniques.
Dayun hopes, thenew collection will bring a fresh perspective to the public's wardrobes, becoming a staple in everyday life, and symbolising ‘everyone’s sun.’
The collection also aims to highlight and support the creativity of local design talents, bringing more attention to the new generation of Chinese fashion designers.
Confederation of Indian Textile Industry (CITI) alongwith International LabourOrganisation (ILO) has launched a new initiative to support cotton farmers in the country.
Through this collaboration, CITI and the ILO aim to raise awareness about Fundamental Principles and Rights at Work (FPRW), specifically targeting small and marginal farmers and workers.
The collaboration seeks to facilitate knowledge sharing and provide technical support for implementing FPRW-related policies and programs. The initiative will enhance access to social protection schemes, empowering vulnerable families involved in cotton cultivation, according to a joint media release from the two organisations.
The initial focus of the joint activities will be on five districts in Madhya Pradesh, a significant region for organic and Extra-Long Staple (ELS) cotton production. The goal is to improve the overall well-being of cotton farmers and workers in these areas.
For the last 54 years, CITI, through its extension arm, the Cotton Development and Research Association (CDRA), has been working to improve the yield and quality of cotton by creating awareness of the best agronomic practices and equipping farmers with the latest technologies in production, plant protection, and nutrient management. Throughout its journey, CITI-CDRA has positively impacted cotton productivity, farmer income, soil health, and market linkage, says, T Rajkumar, Chairman, CITI - Standing Committee on Cotton.
CITI-CDRA is already operational in Maharashtra, Rajasthan, and Madhya Pradesh, playing a crucial role in the Pilot Project on Cotton. A collaborative effort between the Ministry of Agriculture and the Ministry of Textiles, this project aims to enhance cotton yield through improved agronomic practices and technological interventions such as the High-Density Planting System (HDPS) and closer spacing techniques.
Renewable chemicals company Avantium has teamed up with textile experts Monosuisse and Antex to develop PEF-based yarn for Auping-branded mattresses.
A 100 per cent plant-based and recyclable plastic, PEF, or polyethylene furanoate is used in polyesters, polyamides, polyurethanes, coating resins, plasticizers, and other chemical products.
Avantium is constructing an FDCA (furandicarboxylic acid) plant, a crucial component in PEF produciton in Delfzijl, the Netherlands. The plant is set to commence on October 22, 2024.
In this collaboration, Avantium will supply PEF to both Monosuisse and Antex. Monosuisse will focus on creating monofilament PEF yarns, while Antex will produce multifilament PEF yarns. Auping will then monitor the design and production of mattresses using the PEF-based fabric.
BinekePosthumus, Director - Business Development, Avantium, says, the partnership reflects the company’s shared commitment to reduce the environmental impact of textile production. Avantium aims to leverage the collective expertise of its partner to transform the textile landscape. The company’s proprietary YXY technology uses catalysts to convert plant-based sugar (fructose) into FDCA, which is then used to produce PEF.
Avantiumhas also secured several off-take agreements for FDCA-based PEF from its Flagship Plant, including with toy brick manufacturer Lego and Danish brewer Carlsberg.
Archroma, renowned for its specialty chemicals aimed at sustainable solutions, is partnering with Zydat Inc. to integrate its Color Atlas into the Vivid Color Library Management (CLM) platform. This collaboration aims to enhance inkjet digital printing in the fashion and textile industries by offering over 5,760 color references designed to meet eco-standards.
The Color Atlas, recognized as the largest engineered color standards library in textiles, ensures precise color reproduction. By incorporating these standards into Vivid CLM’s tools, designers can expedite the creation and sharing of color palettes, reducing pre-production proofing time and optimizing color management. This integration supports high-quality, economical fabric and apparel printing.
Vivid CLM, launched in February 2024, utilizes proprietary algorithms to translate spectral data into a Red-Green-Blue workflow, facilitating accurate color printing, scanning, and adjustment. Its palette storage system enables seamless sharing among users, enhancing collaboration in color selection.
Chris Hipps, Archroma’s Global Head of Color Management, emphasized the partnership’s alignment with Archroma’s sustainability commitment, enhancing digital workflows and inkjet capabilities in textiles.
Matthew Forman, President of Vivid CLM, highlighted the collaboration’s potential to revolutionize color palette creation and inkjet printing, offering designers instant access to digital and physical color libraries.
This initiative underscores Archroma's Color Management+ strategy, promoting sustainable textile practices through efficient color solutions and technical support, thus advancing innovation in the industry.
The cotton shirt, a wardrobe staple for generations, is facing a new challenge: man-made fibers (MMF). This shift in the global shirt industry is driven by a confluence of factors – functionality, affordability, and ever-evolving fashion trends.
A balancing, cost vs performance
Cotton reigns supreme in breathability and comfort, but its price fluctuations and water-intensive cultivation cast a shadow. Studies reveal that MMF currently holds a staggering 70% share in global fiber consumption. "Consumers are willing to pay more for a shirt that offers superior performance and comfort," says Sarah Jones, a textile analyst. Brands are responding with a spectrum of options catering to diverse budgets and needs. Synthetic fibers, generally cheaper to produce, are a boon for fast fashion and budget-conscious consumers. Fast fashion giant H&M exemplifies this by actively incorporating recycled polyester into their clothing lines, touting affordability alongside sustainability benefits.
Function reigns supreme
Beyond cost, synthetic fibers offer functionalities that cotton struggles to match. Analysts at Apparel Views highlight the growing demand for performance-driven textiles. Polyester and nylon blends, renowned for their wrinkle resistance, require minimal ironing – a major perk in today's fast-paced world. "Synthetic fibers offer features like wrinkle resistance, moisture-wicking, and durability," points out Faruk Hasan, President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA). These features are particularly sought after in activewear and performance shirts, but are increasingly finding their way into everyday wear as well.
The rise of blends
While synthetics are gaining ground, pure polyester isn't the only story. Blended fabrics, particularly cotton-polyester mixes, offer a middle ground. Industry estimates suggest MMF already hold a significant 70% share of global fiber consumption. These blends combine the breathability of cotton with the wrinkle resistance and affordability of synthetics. The future likely lies in even more innovative hybrid fabrics that bridge the gap between comfort and functionality.
Regenerated cellulose fibers like rayon are gaining traction for being a natural alternative to synthetics while maintaining some of their functional benefits. Some studies indicate rayon has displaced wool in many important uses, including shirting, due to its affordability and comfort. Fashion trends also play a role. The rise of athleisure and activewear, with their focus on moisture-wicking and flexibility, has pushed up demand for synthetic fabrics designed specifically for performance. Patagonia, a leader in outdoor apparel, exemplifies this trend. Their ‘Capilene Cool Lightweight Shirt’ is made with a recycled polyester blend that prioritizes moisture-wicking and breathability, perfect for active pursuits.
A global landscape woven with diverse fabrics
The shift towards synthetics isn't uniform across the globe. The US market, for example, presents a complex picture. While synthetics dominate apparel consumption (around 75 per cent), cotton imports still hold a slight edge over man-made fibers. Rising oil prices, which impact synthetic fiber production, could temporarily swing the pendulum back towards cotton.
The European market shows a growing interest in sustainable alternatives. Regenerated cellulose fibers, like viscose rayon derived from wood pulp, are gaining traction due to their eco-friendly appeal. However, even in Europe, the demand for wrinkle-free and easy-care shirts is driving a rise in synthetic blends.
The future of shirt fabrics likely lies in innovation. Sustainable alternatives like Tencel, a wood-based fiber, are gaining traction. "We're seeing a growing interest in eco-friendly synthetics made from recycled materials," says Marie Dubois, a fashion designer specializing in sustainable clothing. The industry is also exploring new ways to improve the comfort and breathability of synthetics, potentially blurring the lines between natural and man-made fibers.
The cotton shirt may not be facing extinction, but the industry is clearly weaving a new narrative. Consumers seeking function, affordability, and sustainability will have a wider range of fabrics to choose from, ensuring a comfortable and stylish fit for the future.
A total of 39 Vietnamese garment and textile enterprises participated in the leading international trade fair for fashion and apparel procurement, Texworld New York City 2024.
Held from July 16-18, 2024, in New York, United States, this three-day fair attracted hundreds of suppliers and designers from the global textile and garment supply chain.
The Vietnamese enterprises showcased products featuring diverse and creative designs, with many items made from eco-friendly materials such as coffee and lotus fibers. Ambassador Dang Hoang Giang, Vietnam's permanent representative to the UN, expressed his admiration for the impressive presence of Vietnamese apparel products in New York City, which is recognised as one of the world's premier fashion centers.
Textile and garments are key export products for Vietnam having significant potential for market expansion. Ambassador Giang emphasised on the importance of approaching potential customers, staying abreast of fashion trends, and focusing on innovation to meet the demands of discerning markets like the US.
He also recommended, local associations and businesses enhance coordination with Vietnam’s representative agencies in the US, including the Permanent Mission of Vietnam in New York. This would help Vietnamese products gain a stronger foothold in the local market besides fostering new growth opportunities for the apparel industry and strengthening trade links between the two nations, he said.
