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Gap Inc. has unveiled its highly anticipated 2023 Environmental, Social, and Governance (ESG) Report, marking a milestone twentieth year of sustainability reporting and nearly three decades of dedicated sustainability efforts. The report showcases the retail giant's strides in fostering sustainability, resilience, and inclusivity within its diverse portfolio of iconic brands, which include Old Navy, Gap, Banana Republic, and Athleta.
CEO Richard Dickson underscored the company's enduring commitment to bridge societal divides, echoing the ethos established by founders Don and Doris Fisher over five decades ago. He emphasized Gap Inc.'s aspiration to forge a world where purpose and profit harmonize, propelling initiatives that enhance both human and environmental well-being.
Gap Inc.'s accolades in the past year include being ranked first in retail on Newsweek's "America's Most Responsible Companies" list and securing its eleventh consecutive inclusion in the S&P Global Dow Jones Sustainability Index.
In FY2023, the company spearheaded three pivotal initiatives aimed at addressing pressing global challenges. These include the Women + Water Collaborative, the Global Water Innovation Centre for Action, and the Rise program, all geared towards advancing gender equity and enhancing water stewardship across its supply chain.
Key highlights from the report include empowering over 2.5 million individuals in the apparel industry with improved access to clean water and sanitation, as well as the successful engagement of more than 19,600 youths through Old Navy's This Way Onward program. Notably, Gap Inc. achieved significant milestones in sustainable sourcing, with 98 per cent of cotton utilized sourced sustainably.
Moreover, Gap Inc.'s commitment extends beyond its operational boundaries, evidenced by its adherence to ESG standards such as the Global Reporting Initiative (GRI), the Sustainable Accounting Standards Board (SASB), and the Task Force on Climate-Related Financial Disclosures (TCFD). The company remains steadfast in its alignment with the United Nations' Sustainable Development Goals (SDGs) and Global Compact principles.
Gap Inc.'s 2023 ESG Report serves as a testament to its unwavering dedication to driving positive change while embracing transparency and accountability in its operations.
Textile exporters in Pakistan are grappling with a host of challenges that are impeding maximum production, as reported by WealthPK. The high cost of doing business coupled with delayed refunds amounting to billions of rupees is casting a shadow over the textile sector, which serves as a linchpin of the national economy.
According to Ali, a prominent textile exporter, efforts to persuade authorities to alleviate the burden by reducing power and gas prices have been unsuccessful. The situation is dire, with production dwindling due to fund shortages faced by millers and the unresolved issue of stuck refunds.
Despite repeated promises from the government, tangible action remains elusive, laments Ali. He urges authorities to investigate the root causes of declining textile production and implement remedial measures promptly.
Khurram Mukhtar, Patron-in-Chief, Pakistan Textile Exporters Association (PTEA), adds, there is an urgent need for a comprehensive business plan to uplift the ailing industry. Neglecting the textile sector would jeopardise both economic growth and employment prospects, he adds.
Riaz Ahmed, another exporter, emphasises the ripple effect of reduced production on small and medium enterprises. Highlighting the disconnect between government priorities and the textile industry's pressing needs, he emphasises on need for introduction of business-friendly policies to stimulate growth and job creation.
Underscoring the pivotal role of the textile sector in foreign exchange earnings, Mukhtar laments its current state of stagnation and underperformance. He cites alarming statistics showing a decline in textile exports, further exacerbating the economic slowdown.
Pakistan exporters face dual challenges as they have to contend with mounting pressures without any support while competitors like Bangladesh, Vietnam, and India benefit from government subsidies, Ahmed points out.
Garment exports from Tiruppur resurged in February and March this year after enduring a prolonged period of sluggish demand.
Data from the Tiruppur Exporters’ Association (TEA), shows, knitwear exports from Tiruppur grew by 6.4 per cent in February and by 5.6 per cent in March in dollar terms compared to the same period last year. This positive trend mirrors a broader uptick in total garment exports from the country, which increased by 4.8 per cent in February and a 1.7 per cent in March compared to the previous year.
K M Subramanian, President, TEA, notes, Bangladesh's duty-free access to Europe until 2027 alongwith India's anticipated trade agreement with the UK will help boost the competitiveness of Indian garments. As a result, major retailers are expected to focus on India with exports from Tiruppur to grow by 10 per cent the upcoming months.
Kumar Duraisamy, Joint Secretary, TEA, states, having depleted their inventory, smaller retailers from Europe are now actively replenishing it. Additionally, the fallout from last year's decline in orders led to approximately 20 per cent of MSME exporters in Tiruppur shuttering their businesses. Consequently, existing units are operating at full capacity, contemplating expansions, and facing a labor shortage of around 20 per cent in the region.
Esteemed Italian fashion house, Tod’s has unveiled its latest boutique at the Emporium Mall in Bangkok, Thailand. Encompassing 166 sq m, this elegant space showcases the brand's diverse offerings, including ready-to-wear collections, luxurious handbags, exquisite footwear, and finely crafted leather accessories. Each of the Tod’s boutiques is meticulously crafted to embody the unique essence of its surroundings.
A standout feature of the new boutique is its exclusive customisation service, inviting patrons to personalise their Di bags with initials or bespoke lettering in a selection of colors. To celebrate its grand opening, the store hosted the enchanting 'Italian Garden' pop-up installation, which served as a captivating backdrop to showcase the latest spring collections. Esteemed guests, including the Italian Ambassador to Thailand and a roster of celebrities like Cris Horwang, Patricia Tanchanok Good, and Ase Wang, graced the occasion with their presence at a glamorous cocktail event.
Highlighting Tod’s iconic craftsmanship, the event emphasised on the renowned Gommino driving loafer, distinguished by its signature 133 rubber pebbles adorning the sole. Attendees were treated to an intimate demonstration by skilled artisans, offering a glimpse into the meticulous artistry behind each meticulously crafted piece.
From its humble beginnings as a small shoe factory in Casette D’Ete over a century ago, Tod’s has evolved into a symbol of authentic Italian style and excellence. The brand consolidated its position as a leading fashion with the introduction of a full ready-to-wear women's collection in 2013 and a comprehensive men's wardrobe in 2014. Today, Tod’s operates from over 345 directly operated stores and 99 franchise outlets across the globe.
A specialist in sizing technology Makip has launched its Unisize technology in the US. The company supports over 250 online retailers and fashion labels, including well-known names like Calvin Klein and Tommy Hilfiger.
According to a study conducted by software firm Nfinite in collaboration with Coresight Research, a significant 20 per cent of online purchases end up being returned to retailers, leading to an estimated loss of $600 billion.
The issue is especially pronounced within the fashion and apparel sector, largely attributed to clothing that doesn't fit properly and inaccurate product representations
While artificial intelligence (AI) promises to provide size recommendations, these sizes vary across brands further complicating the online shopping experience.
Makip's innovative Unisize technology allows online shoppers to virtually ‘try on’ clothing, enabling them to purchase accurately sized items on their first attempt.
By collecting basic information such as age, weight, and height, the technology tailors its recommendations to match the unique body size of each shopper. Their technology has helped reduce clothing return rates by an average of 20 per cent.
Shingo Tsukamoto, President, Makip, acknowledges the advancements in sizing technology but highlights the persisting challenge: the absence of a standard body size. Despite the sophistication of sizing solutions, the variability in body shapes necessitates personalised approaches, he opines.
Amazon Fashion India has unveiled its Spring/Summer 2024 collection, showcasing over 1,000 styles from more than 200 renowned Indian and international brands. Encompassing a diverse range of curated, multi-brand edits, this collection caters to diverse tastes and preferences.
The new collection promises to capture the vibrant spirit of the spring and summer seasons through a spectrum of colors, chic designs, and versatile styles that effortlessly enhance one's fashion statement.
Featuring segmented themes like 'Summer of Love,' 'Indie Summer,' 'Heritage Getaway Beach Dream,' 'Explorer Club,' and 'Last Resort,' the collection offers curated sections aimed to enhance the online shopping experience and aid consumers in finding precisely what they desire.
With an extensive lineup of top fashion and beauty brands such as Biba, Wrangler, Guess, Van Heusen, Levi's, Skechers, Clarks, Puma, and Titan, etc, Amazon Fashion ensures a comprehensive selection to suit every individual's personality and preferences.
Moreover, Amazon Fashion plans to kick off its much-anticipated 'Great Summer Sale' on May 2. The sale will offer apparel and beauty products starting at an attractive price point of just Rs 199, coupled with enticing offers such as up to 20 per cent cashback on the first order.
Paige Adams-Geller, Founder, Paige has forayed into the swimwear category with the launch of its maiden collection.
The brand’s debut collection encompasses swimsuits, versatile bikini tops that can be worn with or without straps, and bikini bottoms, all available as separate pieces. Adams-Geller's research into the essential components of excellent swimwear led her to prioritise elasticity and fabric sheen, while drawing inspiration from Paige's existing collection of prints.
Designed to seamlessly complement Paige's range of denim and apparel, the collection includes pieces that can effortlessly transition from beachwear to brunch attire.
Drawing from her extensive experience in the fashion industry, including stints as a fit model for brands like Hard Tail, Guess, True Religion, and others, Adams-Geller was keen to ensure that the swimwear catered to a diverse range of body types. To achieve this, she enlisted a variety of fit models to try on the samples, ensuring that the designs were flattering and comfortable for all shapes and sizes.
At the Techtextil exhibition in Frankfurt, BASF unveiled a host of innovative solutions showcasing their commitment to circular fibers production. One of these standout solutions was a jacket created by Inditex using loopamid polyamide 6 (PA6) derived from textile waste through segregated production.
This jacket not only featured fabric made from recycled PA6 but also boasted recycled PA6 lining, zippers, velcro fasteners, and buttons. BASF's chemical recycling technology allows for the recycling of various fabric blends, facilitating textile-to-textile recycling of industrial textile waste and used clothing, all while maintaining material properties identical to conventional polyamide.
Among their innovations were ‘drop-in’ solutions like Ultramid Ccycled, supporting the use of alternative raw materials from chemically recycled plastic waste, including end-of-life tires. Similarly, Ultramid Biomass Balance (BMB) offered a sustainable option by using renewable raw materials in product manufacturing, significantly reducing carbon footprints without compromising quality.
A thermoplastic polyurethane (TPU), Elastollan was highlighted for its versatility in the textile industry, offering high elasticity and mechanical strength. BASF introduced bio-based and certified biomass-balanced Elastollan grades, ensuring identical material properties to fossil-based products.
The company also collaborated with Certified Sustainable FiberMax (CSF) partners in Greece to introduce a transparent and traceable blockchain platform. Powered by Hyperledger and technology by Bext 360°, this platform enables seamless integration of data like carbon footprint into supply chains, promoting transparency and sustainability. Additionally, BASF collaborated with the University of Thessaly to research regenerative practices for cotton production in Europe, aiming to provide European fashion brands with certified European non-GMO regenerative cotton.
BASF's commitment to upcycling was evident through exhibits showcasing their Acrodur, acForm, and Acronal low-emission fiber bonding technologies. These technologies enable the transformation of reclaimed materials such as denim, spent coffee grounds, and used paper cups into building blocks for new products. The company’s exhibits included flooring made from denim, coffee grounds, and paper cups, as well as lightweight panels and composites showcasing the versatility of these upcycled materials.
To expand its presence in the UAE market, renowned Danish fashion house synonymous with contemporary apparel and accessories, Bestseller plans to debut its flagship retail store for Jack & Jones by 2024-end.
Embracing the intersection of technology and sustainability within the fashion realm, Bestseller has implemented a plethora of initiatives to enrich its customer journey, spanning from purchasing and reporting to data analysis, all in a continuous effort to optimise customer and product performance. Elke Jungbauer, Commercial Director, Bestseller MENA, says, the brand aims to democratise fashion by focusing on contemporary designs and competitive pricing.
Bestseller has also pioneered the NOOS program, aptly named 'Never Out of Stock', to address product availability concerns and enhance convenience for shoppers. This innovative program ensures that key items remain perpetually in stock, offering customers a dependable selection of essential wardrobe staples year-round, thereby fostering brand loyalty and trust through a consistent shopping experience.
The versatility of the NOOS program strikes a delicate balance between stability and innovation, catering to evolving customer preferences in the MENA region, elaborates Jungbauer. This confers a competitive edge and a compelling unique selling proposition to the brand with customers valuing the reliability and convenience it affords, heads.
Furthermore, Bestseller has augmented the shopping experience with an array of digital tools both in the showroom and online store, reaffirming its steadfast commitment to excellence and expansion in the UAE and beyond.
Further solidifying its foothold in the fashion retail landscape, Bestseller plans to launch its e-commerce operations for Jack & Jones and Vero Moda in the forthcoming year,
A recent study conducted by the Research and Policy Integration for Development (RAPID) titled ‘Upscaling the RMG Sector’ forecasts, Bangladesh's export earnings from MMF (Man-Made Fiber) products could surge to $19 billion within a decade if it achieves projected market shares in 20 potential products.
Currently, Bangladesh's exports primarily consist of cotton-based apparel, constituting a substantial 71 per cent of total exports. The report highlights the impressive growth in cotton apparel exports over the years, reaching $33 billion in 2021 from $3.0 billion in 2001. In contrast, MMF apparel exports have seen a more modest growth of $8 billion over two decades, indicating Bangladesh's gradual progress in this segment.
Import data of MMF or non-cotton raw materials also reflects an increasing trend, indicating a growing usage of these materials in garment manufacturing for exports. For instance, in the first quarter of 2024, Bangladesh imported 30,900 tons of polyester staple fibre, marking a significant 42.46 per cent rise compared to the same period in 2023. Similarly, imports of synthetic filament yarn and yarn of synthetic staple fibre also saw notable increases during the same period.
Despite its strong presence in the cotton market, Bangladesh has substantial room for growth in MMF and blended apparel, where it currently holds a modest 5.6 per cent global market share, compared to China's dominant 36 per cent.
However, the textile industry faces challenges, including import duties on many MMFs while cotton enjoys duty-free status, inefficient customs clearance, and complicated duty-drawback procedures. Moreover, there are discriminatory policies on PET bottle and scrap imports and limited capital investment support for the industry.
Dr Mohammad Abdur Razzaque, Chairman, RAPID, emphasises, Bangladesh could potentially earn up to $19 billion from MMF garment exports within the next five to ten years if these challenges are addressed.
To achieve this potential, the report recommends consolidating Bangladesh's dominance in the cotton apparel export market while simultaneously expanding MMF apparel production and exports. This would require modernising customs clearance procedures, attracting foreign direct investment (FDI) in the MMF sector, promoting a circular economy for sustainability, modernising technology, and enhancing management capacities and worker skills.
Fazlee Ehsan Shamim, Vice President, BKMEA, highlights the increasing imports of MMF, indicating a shift towards non-cotton fibers in production. He stresses on the need for supportive policy measures, especially in customs-related issues, to encourage entrepreneurs to explore non-cotton segments and attract investment.
