FW
Pakistan’s textile exports rose 7.2 per cent during the first eight months of the current fiscal year.February textile exports were up 7.14 per cent year-on-year but were down 1.81 per cent month-on-month.
Textile exports make up around 60 per cent of the country’s total exports. The textile sector has the largest share in Pakistan’s exports.
Pakistan’s competitors are upping the ante on textile exports to make inroads into more global markets. While China’s share in global textile exports is 36 per cent, Vietnam contributes 12.4 per cent, and Pakistan seven per cent.
Various problems are being faced by the country’s textile sector including the high cost of doing business, multiple taxes and surcharges.
Pakistan predominantly being a textile export economy is struggling to maintain its share in global textile markets both in basic and value added textiles. Pakistan is the only country in the region that saw its total textile exports decline by ten per cent between 2011 and 2018.
Other economies like China, India, Bangladesh, Sri Lanka and Vietnam grew their exports at a compound rate of 20 per cent or more during the same period. Vietnam, a relative newcomer in the sector, posted a compound export growth of 107 per cent followed by Bangladesh with 61 per cent.
Swedish fashion chain Kappahl has become a member of the Sustainable Apparel Coalition (SAC).
SAC is an organisation working to create a sustainable fashion industry, with the vision of an industry that causes no harm to the environment. Kappahl will now speed up the pace of change in sustainable working methods and solutions in the fashion industry. As part of SAC, the company can work with other players in the industry - purchasers, suppliers, researchers, investors, and consumers - to coordinate efforts to achieve greater transparency and better results in moving the fashion industry towards a more sustainable future.
The company is now in the process of developing its working methods using the SAC’s Higg Index suite of tools. The goal is to set clear standards for the entire industry to measure and assess the sustainability performance of suppliers and products. With SAC, Kappahl hopes to harmonise its approaches to sustainability with other players in the industry, enabling them to pull together and make a greater difference.
Kappahl is a 60 year old brand. The fashion chain offers a wide and varied selection for all occasions - party, dressed everyday and casual recreation. The collections contain complete wardrobes from underwear to outerwear and accessories.
Deloitte’s fifth annual Global Powers of Luxury Goods report names 5 Indian brands in the list of fastest growing Top 20 brand.
The report also states 5 brands in the top 100 list including Titan Company Ltd (#28), Kalyan Jewellers (#37), PC Jewellers(#43), Joyalukkas India(#49) (and) Tribhovandas Bhimji Zaveri (#89)Ltd.
The report examines and lists the 100 largest luxury goods companies globally, based on the consolidated sales of luxury goods in FY2016 (defined as financial years ending within the 12 months to 30 June 2017).
It also discusses the key trends shaping the luxury market and provides a global economic outlook.
Patrizia Arienti, EMEA Region Fashion & Luxury Leader, Deloitte Italy says, “The luxury market has bounced back from economic uncertainty and geopolitical crises in 2016, edging closer to annual sales of US $1 trillion at the end of 2017.”
Swedish retailer H&M, which has been sourcing home textiles from India for nearly three decades, is now keen to improve its sourcing of garments from the country.
“India is better placed as a supplier for us. Several of our SKUs in the H&M Home brand are sourced from India. We have asked our Indian suppliers to find out ways on how we may improve sourcing from India,” informs Country Manager, Janne Einola.
H&M has committed an investment of US $10,53 million in the Indian market.
Einola plans to introduce H&M Home and cosmetics in the country, but is waiting for the right timing to introduce them. Unlike the Western markets, where several stores reported unsold goods, affecting margins of the company, H&M India has not had any such issues.
Egypt will promote products made of Egyptian cotton. A special unit will be formed to ensure the optimal use of the Egyptian cotton brand and to sign deals with international textile companies on that score under the agreement.
Egypt is eager on upgrading the system of cotton cultivation and the textile industry to better meet the demands of the local market and enhance exports.
A clear map of textile industries in Egypt will be drawn up to perfectly determine gaps between supply and demand. This will help define priorities to lure foreign investments and maximize the value added of Egyptian cotton.
Egyptian cotton is the preferred option for towels and bedding among American consumers. Egyptian cotton is also the name most people associate with quality and the cotton fiber they say they are prepared to pay a premium for.
Egyptian cotton’s length, strength, firmness, color, trash count and maturity have all improved.
If Egypt’s cotton industry returns to its previous glory, the economy would flourish, the spinning and textile industries would boom, and stalled factories would reopen.
In the past two years, Egypt has taken measures to restore seed purity and cotton quality. Egyptian cotton’s reputation and quality had deteriorated significantly due to the seed companies’ lack of effective quality assurance systems that resulted in inferior, mixed-variety output.
If growth in fashion continues along its current trajectory, by 2050 the textile industry would account for around a quarter of the world’s total allowable carbon emissions.
In order to circumvent the eco impact, leading companies are coming up with sustainable solutions to chart green growth.
Fashion companies have on the whole managed to improve their environmental and social performance over the last year. The industry's various segments, however, are moving at highly different speeds.
To put fashion on a path to long-term prosperity financially, socially and environmentally, there is a need to go beyond what is available and possible today. To achieve lasting impact at scale, the industry needs systemic change through leadership, innovation and collaboration.
A number of promising, disruptive innovations are emerging to move the industry - but success will depend on a strong ecosystem rooted in the efforts of regulators, consumers, nongovernmental organisations, and other stakeholders.
Sustainability can actually increase profitability for fashion companies.
Lyocell for example is a fiber made from wood pulp and has a low environmental impact in its production and processing when compared to alternatives like cotton. Because of its growing sustainable properties, companies are making it a feature within their product lines.
China and the US have decided to defer the implementation of the new tariffs and take effective measures to substantially reduce the US trade deficit in goods with China besides supporting growth and employment in US.
These constructive consultations regarding trade were held recently in Washington, D.C. at the direction of US President Donald Trump and his Chinese counterpart Xi Jinping.
The delegations discussed expanding trade in manufactured goods and services.The delegations also discussed expanding trade in manufactured goods and services.
Both sides agreed to encourage two-way investment and to strive to create a fair, level playing field for competition.
They will also continue to engage at high levels on these issues and to seek to resolve their economic and trade concerns in a proactive manner.
Make it British Live is being held May 23 and 24. This is a trade show dedicated to UK manufacturers and British-made brands. This is the fifth edition of the show and some 5000 visitors are expected.
New and varied exhibitors are abundant this year, displaying a diverse range of fashion, accessory and homeware products. Many of the companies exhibiting are well over 100 years old, with two being founded in the 1700s.
Skills and training are high on the agenda this year. One of the halls has been dedicated to a manufacturing skills exhibition, which highlights the work being done to support a new generation of talent.
Of the 200 exhibitors at this year’s show, over 30 per cent are family businesses, including mother and daughter, husband and wife, father and son, and brother and sister teams. There are 28 garment manufacturers, seven machinery suppliers and 35 producers of accessories, from umbrellas and hip flasks to scarves and socks.
Make it British is the campaign to encourage more people to buy British and make in the UK. It is a platform for promoting UK manufacturers and British-made brands. Make it British Live began in 2014 and was originally called Meet the Manufacturer. This unique show prides itself on being the only sourcing event exclusively showcasing British manufacturers and producers.
Italian fashion brand Benetton is focusing on India in a big way. During its over two-decade journey in the country, the brand has witnessed a consistent growth and is now looking at leveraging the big potential that Indian retail offers in Tier III and Tier IV cities too.
India is the most important market outside Italy for the brand and is considered the number one subsidiary outside Italy. Benetton has opened a store in London, the latest flagship store. Possibly it is New Delhi which will have the second flagship store.
In India Benetton has grown consistently at a rate of 15 per cent to 18 per cent in the last seven or eight years.
As for the marketing strategy in India, Benetton has a lot of focus on digital and will allocate more than 50 per cent spends on digital since that is where the target audience, the 18 to 35 age group, is. TV is used very rarely. Spend wise, after digital, it is mostly print and outdoors.
Benetton was the first to realize the importance of online. It has strategically created a business vertical like footwear online and hopes to sell close to a million pairs of footwear by next year.
The recent statistics published by the US Department of Commerce, the United States revealed that US imported $2.2 billion worth of socks in 2017, while in the January-March period of 2018, it imported approximately $458.3 million worth of socks.
A bulk of this order; approximately 58 per cent, was imported from China. While El Salvador-the second largest supplier of socks - exported $253.4 million worth of socks in 2017. Honduras was in third place, exporting around $184 million worth, followed by Pakistan in fourth place with exports to the US worth just over $120 million in 2017.
US imports of hosiery in 2017 increased by 2.4% compared to the previous year, with China's exports increasing by 1.8 per cent. Exports from El Salvador increased by 23.1 per cent in the year.
