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Hennes & Mauritz AB (H&M) has reaffirmed its commitment to sustainability and strategic growth in its annual and sustainability report for the 2024 financial year, released today on hmgroup.com. A printed version will be sent to shareholders upon request.
CEO Daniel Erver highlighted the company’s progress in integrating sustainability with design and innovation. “Exceptional design and sustainable solutions go hand in hand with our purpose to liberate fashion for the many. Sustainability is fundamental to our operations and long-term success,” he said.
H&M Group also published its sustainability progress report, outlining achievements in decarbonization, material sourcing, and corporate responsibility. The company remains on track to meet its goal of using only recycled or sustainably sourced materials by 2030, with recycled materials already reaching 29.5 per cent, just shy of its 30 per cent target for 2025, a year ahead of schedule.
“We are delivering strong results in reducing emissions and energy use across our supply chain, aligned with science-based targets,” said Leyla Ertur, Sustainability Director.
Key sustainability milestones in 2024 include 89 per cent of materials sourced sustainably or recycled, a 41 per cent reduction in greenhouse gas emissions in scope 1 and 2, and a 24 per cent reduction in scope 3 from the 2019 baseline. The company also achieved a 54 per cent cut in plastic packaging from the 2018 baseline, surpassing its 2025 goal.
The number of garment factories using on-site coal boilers decreased to 27, down from 118 in 2022, with a full phase-out planned by 2026. Freshwater consumption in garment suppliers was reduced by 9.5 per cent, nearly reaching the 10 per cent target ahead of schedule. Second-hand fashion expanded to 26 markets through 38 H&M Group stores and Sellpy.
H&M Group also renewed its Global Framework Agreement with IndustriALL Global Union and IF Metall, protecting over one million workers worldwide.
The Bangladeshi government plans to ban yarn imports through land ports on concerns raised by local textile millers about misuse and unfair competition.
These land ports lack the required infrastructure to identify the yarn category accurately, argues
The Bangladesh Textile Mills Association (BTMA). This often leads to widespread misuse and harming domestic industries. Therefore, yarn imports should be shifted exclusively to seaports that have better monitoring capabilities, adds the association.
However, apparel exporters, particularly small and medium-sized factories, have expressed concerns over the potential negative impact of such a ban.
As these exporters mainly rely on land ports for quicker and more cost-effective access to raw materials, a sudden ban on them lead to financial distress, warns BGMEA. The move could not only disrupt supply chains and increase production costs, but also Bangladesh's competitiveness in the global apparel market, it adds.
Highlighting the competitive disadvantage faced by local textile millers, the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) notes, their yarn prices are significantly higher than those in India and Vietnam. They also point to existing stockpiles due to reduced cash incentives on local yarn, further complicating the situation.
Industry leaders suggest that instead of a complete ban, the government should focus on improving monitoring and customs procedures at land ports. They also advocate for anti-dumping duties to address unfair competition from Indian exporters. The Ministry of Commerce has requested supporting documents from BTMA regarding alleged dumping practices.
The textile sector already faces numerous challenges, including rising energy costs, a dollar crisis, and reduced export incentives. A ban on land port yarn imports could exacerbate these issues, particularly for smaller manufacturers. Exporters are urging the government to reconsider the decision and explore alternative solutions, such as phased implementation or exemptions, to mitigate the potential damage to the industry.
Scheduled from March 31-April 1 at the Sofitel Phnom Penh Phokeethra in Cambodia, the Global Textile Summit 2025 will discuss and make presentations on various aspects of the textile industry in the country.
To be held under the aegis of the European Chamber of Commerce in Cambodia (EuroCham), the summit will gather business leaders, development partners, and global brands. It will be organized by the Textile, Apparel, Footwear & Travel Goods Association in Cambodia (TAFTAC), ILO – Better Factories Cambodia (BFC), and the German development agency GIZ.
Katta Orn, Spokesperson for the Ministry of Labor and Vocational Training, emphasizes, the event will showcase the potential of the Kingdom’s textile sector, which continues to attract foreign investment and create jobs, contributing to national economic growth.
This growth demonstrates Cambodia's stability and its capacity to develop industries, particularly the garment sector, states Orn. It also highlights Cambodia as a prime location for investment and export-oriented manufacturing, he adds.
Lim Heng, Vice President, Cambodia Chamber of Commerce, notes, the rapid growth of Cambodia's textile industry in recent years is driven by the global economic recovery and political instability in other manufacturing regions. Increased factory openings and export orders, particularly from the EU, the US, and the UK also boosts the sector, he adds. China continues to be Cambodia's primary source of raw materials, Heng informs.
The General Department of Customs and Excise (GDCE) reports, Cambodia’s textile exports increased by 24.4 per cent to $11.68 billion in 2024. Including apparel, clothing accessories, and footwear, these exports accounted for 44.59 per cent of Cambodia's total exports, which reached $26.2 billion. The summit aims to further promote Cambodia's role in the global textile market.
As per a new report by Consumer Edge, US apparel market is likely to witness significant shifts in 2025 as consumers have decreased their overall spending on clothing, accessories, and shoes by 2 per cent. However, certain brands and categories are registering a strong growth, the report says.
Fast fashion and resale are on the rise as budget-conscious shoppers continue to curtail discretionary expenses. Shein and Uniqlo are emerging as bestsellers as against their competitors H&M and Zara. The popularity of secondhand platforms Depop and Grailed is on the rise though Poshmark is experiencing a decline in profits due to recent fee adjustments and technological limitations.
In contrast, the luxury sector is facing challenges. Spending on single-brand luxury items, like Chanel and Gucci, and multi-brand platforms such as Ssense and Net-a-Porter, has declined significantly. Sales of footwear and athletic apparel have also declined by around 6 per cent due to contraction in consumer spending.
Despite this general downturn, some brands are experiencing notable growth. Womenswear brands Lagence, Modlily, and Halara, along with Quince, are among the top performers. Grailed and Depop are also on the rise, as are jewelry brands like Rare Carat and David Yurman.
All income groups have reduced their apparel spending, with high-income earners reducing theirs the least, as per the report by Consumer Edge. Notably, high-income shoppers are increasing their spending at Hollister, potentially for teen purchases, and also at Depop, Goodwill, and Quince. Louis Vuitton and Cartier have also gained a larger share of this demographic.
Younger shoppers, aged18-24 years, are favoring digital-first brands, with Shein surpassing H&M and Zara. Demand for brands like Skims and Depop is also on the rise from customers in this age group. Gen Z and Millennials, aged 25-34 years are also being attracted by Shein and Uniqlo,
On the other hand, brands like Shein, MyThereasa and Uniqlo are registering a rise in demand from senior citizens aged 65 years and above. However, Ssense is losing market share to competitors like Farfetch.
As per the report, there is a growing trend towards value-driven shopping, with consumers prioritizing affordability and convenience. Fast fashion and resale are benefiting from this shift, while luxury brands need to adapt to remain competitive.
With US investor Redwood Capital Management set to acquire the company, Dutch lingerie retailer Hunkemöller is changing ownership once again. As per a report by WirtschaftsWoche, this acquisition will bring significant changes to the brand.
The focus of this acquisition would be an omnichannel strategy that would help consolidate Hunkemoller’s position as a leading lingerie retailer in Europe, says Brain Grevy, CEO.
The company was acquired by Dutch investment firms Parcom Capital and Opportunity Partners in 2022.The previous majority owner, US-based Carlyle Group, retained a minority stake in the company.
However, like many fashion brands, Hunkemöller has faced challenges in recent years. Rising inflation has decreased consumer spending, and the company's financial performance has been affected by global supply chain disruptions, the aftermath of the pandemic, and the war in Ukraine.
Currently operating 900 stores across Europe, the lingerie retailer reported an 8 per cent revenue decline in 2024, with sales declining to approximately €542 million. The brand’s EBITDA declined by about 37 per cent to €42.8 million while net losses nearly doubled to €142 million.
Hunkemöller initiated a comprehensive transformation program at the end of last year to address these market challenges and return to growth. The program primarily focuses on enhancing the customer experience across its 750+ stores.
With a strengthened financial foundation through debt restructuring and new capital investment, the company aims to accelerate the implementation of its new corporate strategy.
With US investor Redwood Capital Management set to acquire the company, Dutch lingerie retailer Hunkemöller is changing ownership once again. As per a report by WirtschaftsWoche, this acquisition will bring significant changes to the brand.
The focus of this acquisition would be an omnichannel strategy that would help consolidate Hunkemoller’s position as a leading lingerie retailer in Europe, says Brain Grevy, CEO.
The company was acquired by Dutch investment firms Parcom Capital and Opportunity Partners in 2022.The previous majority owner, US-based Carlyle Group, retained a minority stake in the company.
However, like many fashion brands, Hunkemöller has faced challenges in recent years. Rising inflation has decreased consumer spending, and the company's financial performance has been affected by global supply chain disruptions, the aftermath of the pandemic, and the war in Ukraine.
Currently operating 900 stores across Europe, the lingerie retailer reported an 8 per cent revenue decline in 2024, with sales declining to approximately €542 million. The brand’s EBITDA declined by about 37 per cent to €42.8 million while net losses nearly doubled to €142 million.
Hunkemöller initiated a comprehensive transformation program at the end of last year to address these market challenges and return to growth. The program primarily focuses on enhancing the customer experience across its 750+ stores.
With a strengthened financial foundation through debt restructuring and new capital investment, the company aims to accelerate the implementation of its new corporate strategy.
Achieving a significant milestone, leading Indian manufacturer of digital inkjet printers, Colorjet, has earned the prestigious ZED Gold (Zero Defect, Zero Effect) Certification under the Ministry of MSME’s Sustainable Certification Scheme. This accomplishment reinforces ColorJet’s position as a quality-focused and sustainability-driven innovator in the global printing industry.
Awarded to organizations that exceed traditional standards, the ZED Gold Certification demonstrates a strong commitment to quality, energy efficiency, waste reduction, and environmentally friendly practices. ColorJet's success in achieving this certification reflects its dedication to the ZED Gold philosophy: delivering defect-free products while ensuring no negative impact on the environment.
The certification aligns perfectly with the brand’s long-standing mission of sustainable innovation and responsible manufacturing, says Madhu Sudan Dadu, Chairman, ColorJet Group. This achievement is a testament to the brand’s ongoing efforts in process excellence, employee engagement, and green production practices.
Beyond quality and process excellence, this recognition signifies ColorJet’s strong support for national initiatives like ‘Make in India’ and ‘Atmanirbhar Bharat.’ It highlights how Indian manufacturers can excel on a global scale, not only through innovation but also through responsibility and resilience.
ColorJet has consistently believed in the synergy of technology and sustainability. Through significant investment in research, innovation, and environmental responsibility, the company continues to transform the digital printing industry. Its solutions are designed for both high performance and precision, as well as long-term environmental sustainability, ensuring that customers don’t have to compromise between productivity and environmental consciousness.
The American Association of Textile Chemists and Colorists (AATCC) is set to host a series of conferences in 2025, addressing critical environmental challenges in the textile and apparel industry. These events will bring together experts to explore innovative solutions for sustainability.
The PFAS in Textiles Conference will take place on April 24-25, 2025, at the StateView Hotel in Raleigh, North Carolina. With growing concerns over per- and polyfluoroalkyl substances (PFAS) in textiles, this conference aims to foster collaboration among stakeholders to develop improved best practices. Discussions will focus on balancing consumer safety with industry needs while advancing responsible PFAS usage.
On May 19, 2025, Renée Lamb, Assistant Professor at Virginia Commonwealth University, will lead a Digital Learning session on Cotton vs Rayon. The session will examine the sustainability credentials of both fibers, weighing their environmental impact, biodegradability, and consumer appeal. As demand for eco-friendly materials rises, the discussion will explore whether one fiber offers a superior sustainability profile.
The Circularity Conference, scheduled for June 17-18, 2025, at the University of Rhode Island in Kingston, RI, will spotlight the industry's transition toward circular systems. Industry leaders, designers, and researchers will discuss challenges and solutions for creating a sustainable textile economy, emphasizing waste reduction, recycling innovations, and policy frameworks.
AATCC encourages industry professionals to participate in these key events, which aim to drive sustainable transformation across the textile sector.
The American Apparel & Footwear Association (AAFA) has strongly criticized the US Department of Labor's decision to cancel all contracts for the Bureau of International Labor Affairs (ILAB).
AAFA President and CEO Steve Lamar warned that the move would undermine American businesses and workers. “Our members, and their 3.5 million American workers, rely on ILAB to promote a fair global playing field,” he said. “With these grants eliminated, we are shifting from an even playing field to an uphill battle.”
ILAB provides critical support through grants, technical assistance, and direct engagement to improve labor standards worldwide. It helps prevent labor abuses, ensures fair trade practices, and deploys labor attaches to US embassies to gather intelligence and enforce trade agreements. ILAB also plays a vital role in enforcing the US-Mexico-Canada Agreement (USMCA) and supports the International Labour Organization’s (ILO) Better Work program to enhance transparency in global supply chains.
AAFA Senior Vice President of Policy Nate Herman stressed the negative consequences of the decision. “Eliminating ILAB grants puts American workers and businesses last, exposing them to unfair competition from countries with weak labor standards,” he said.
Among the canceled contracts are programs focused on labor enforcement in Haiti, Jordan, Cambodia, Bangladesh, and Vietnam, as well as initiatives against forced labor in Uzbekistan’s cotton industry and workplace safety efforts in Central America. The “Supporting Safe and Inclusive Work Environments in Lesotho” contract, which combats violence against women, was also terminated.
Earlier this week, AAFA signed a letter urging Labor Secretary Lori Chavez-DeRemer to reinstate ILAB’s contract for monitoring Uzbek cotton. This follows a broader appeal on March 11 to protect ILAB’s programs.
The global apparel trade and retail landscape has thrown up a complex mix of opportunities and challenges in 2025. While major consumer markets continue to display strong import growth, export performances remain uneven across manufacturing hubs, indicating global sourcing trends. A closer look at recent trade data and insights from the Wazir Textile & Apparel Index (WTAI) 9M FY25 reveals the current state of the industry and what lies ahead.
Strong import demand in major economies sign of optimism
January 2025 marked a rise in apparel imports across major consumer markets, reflecting sustained demand and shifting trade dynamics. The US reported a substantial 20 per cent year-on-year increase in total apparel imports, amounting to $7.3 billion. This rise suggests consumer spending on apparel remains resilient despite broader economic uncertainties.
The EU showed even stronger growth, with apparel imports jumping 36 per cent year-on-year to $9.0 billion. This sharp increase could be attributed to multiple factors, including pent-up demand from cautious consumer behavior in previous months, restocking by retailers, and potential shifts in sourcing patterns. Japan, too, recorded a healthy 21 per cent increase in apparel imports, reaching $2.3 billion, reinforcing the positive trend in consumer demand across major markets.
Exports highlight shifting sourcing dynamics
While import demand remains strong in consumer markets, February 2025 threw up a mixed picture for major apparel-exporting nations, highlighting potential shifts in global sourcing preferences. Bangladesh, a dominant player in global apparel manufacturing, maintained steady export levels at $3.2 billion, reflecting its stable position in the international market.
India, on the other hand, displayed positive momentum, with a 7 per cent year-on-year increase in apparel exports, reaching $1.5 billion. This growth underscores India’s rising competitiveness, possibly driven by improved manufacturing capabilities, competitive pricing, and an expanding product mix catering to global demand.
China, the world's largest apparel exporter, experienced a sharp decline, with exports dropping 30 per cent year-on-year to $6.4 billion. The reduction could be due to multiple factors, including rising labor costs, ongoing trade tensions, supply chain disruptions, and a push by global brands to diversify their sourcing strategies. This downturn in Chinese exports signals a potential shift in the global apparel supply chain, as retailers and brands look to alternative manufacturing hubs.
US retail’s positivity amidst economic nuances
The retail sector in the US showed encouraging signs, with apparel store sales in February 2025 registering an 11 per cent increase compared to the same period last year. This upward movement suggests strong consumer interest in fashion despite economic uncertainties. Home furnishing stores also reported a 12 per cent rise in sales, reflecting continued consumer spending in lifestyle and home-related categories.
However, the broader economic picture in the US is a mixed one. Inflation eased to 2.8 per cent in February, providing some relief, yet consumer confidence dipped slightly to 102.7 from 104.1 in the previous month. This decline, despite easing inflation, hints at underlying economic concerns that could impact retail spending in coming months. The interplay between robust retail sales and cautious consumer sentiment will be critical to monitor as 2025 unfolds.
Indian T&A sector shows resilience
Amidst the shifting global landscape, India’s textile and apparel sector continues to display strong performance, as highlighted in the Wazir Textile & Apparel Index (WTAI) 9M FY25 update. The index, which tracks the financial performance of leading textile and apparel companies in India, underscores robust growth in both segments.
In the textile sector, the Wazir Textile Index (WTI) reported a 9 per cent increase in sales over the first nine months of FY25 compared to the previous year, indicating strong demand for Indian textile products. More importantly, profits showed significant growth, with EBITDA rising 20 per cent, reflecting improved efficiency and better cost management by companies. The third quarter of FY25 continued this positive momentum, with consolidated sales growing by 11 per cent and EBITDA margins improving by one percentage point.
The apparel segment, as captured by the Wazir Apparel Index (WAI), showed even stronger growth, with a 25 per cent rise in sales over the same period. EBITDA for apparel companies grew 19 per cent, suggesting that the industry is capitalizing on growing global demand and higher-value product offerings. Q3 continued this trend, with a notable 11 per cent increase in consolidated sales.
The overall performance of listed Indian textile and apparel companies further reinforces this positive outlook, with consolidated sales rising by 10 per cent in 9M FY25 compared to the previous year. Improved EBITDA margins signal greater profits, positioning India as a key contender in the global apparel trade.
Positivity in global apparel trade in 2025
The global apparel trade and retail landscape in early 2025 is marked by strong consumer demand in major economies, evolving sourcing strategies, and fluctuating macroeconomic conditions. While apparel imports in markets such as the US, EU, and Japan remain robust, export trends reveal a more complex picture, with India gaining traction and China experiencing notable setbacks. The US retail sector’s positive sales figures contrast with reducing consumer confidence, indicating potential headwinds that must be carefully monitored.
In India, the textile and apparel industry continues to grow steadily, with strong sales and profit metrics underlining its growing role in global trade. As sourcing patterns evolve, India’s increasing competitiveness may position it as a key alternative to traditional manufacturing giants.
Looking ahead, the industry will need to navigate a dynamic environment shaped by consumer demand shifts, supply chain realignments, and broader economic trends. The performance of major exporting countries and consumer confidence in leading markets will remain critical indicators of the global apparel trade’s growth path. India’s sustained growth in both textiles and apparel suggests it is well-positioned to leverage these global shifts, potentially emerging as a stronger force in the apparel manufacturing space. Companies across the value chain will need to stay agile, adapting to changing consumer preferences, economic trends, and trade policies to sustain momentum in this evolving marketplace.
