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For the first quarter Etsy’s gross merchandising sales (GMS) were up 19.8 per cent compared with the first quarter of 2017. The growth was primarily driven by a jump of 9.4 per cent year-over-year in active sellers and a 16.9 per cent year-over-year growth in active buyers.
Etsy is a craft-focused e-commerce platform. Total revenue was up 24.8 per cent year-over-year. The growth was driven by both marketplace and Seller Services revenue, where Marketplace revenue grew 24.7 per cent year-over-year and Services revenue grew 35 per cent year-over-year.
International GMS was up at 35 per cent in the first quarter of 2018, from 32 per cent in the first quarter of 2017 and 33 per cent in the fourth quarter of 2017.
As an organization, Etys exercises a disciplined approach to resource investment, focusing its efforts on initiatives that it believes have the highest probability to create long-term growth while continuously striving for operational efficiencies.
In the first quarter of 2018, the company specifically invested resources in foundational work, which addressed three primary areas: technical debt, operational efficiency, and infrastructure imperatives.
Etsy now expects revenue to be in the range of 22 per cent to 24 per cent. GMS is expected to rise in the range of 16 per cent to 18 per cent, up from 14 per cent to 16 per cent.
Cotton in the US has been selling at record highs not seen in four years.
One reason is the looming trade war between the United States and China. But the trade climate is not the only culprit driving up prices. One of the largest threats to California’s cotton industry has been a lack of water. This year’s water supply doesn’t look promising for California’s cotton crop.
But this dry spell isn’t limited to California. Other regions of the country like Texas are affected as well.
With these dry conditions, farmers are cautious about growing and their lenders aren’t as generous. But there is still a bit of hope for this cotton season. While 2018 hasn’t delivered a lot of rain in certain regions, other threats from last year—such as insect infestations—seem to have been resolved.
China’s cotton imports from the United States have fallen over the years from approximately 40 per cent to 15 per cent to 20 per cent. China is an important customer of US cotton, and has been for the past two or three decades, but the US has been shipping more cotton to other locations over the last few years.
With US cotton exports expanding to other countries, the market has opened up more. Last year, the US saw its second-highest cotton export yield.
China’s exports rebounded more strongly than expected in April suggesting a resilient global demand.
China’s April exports rose 12.9 per cent from a year earlier, beating analysts’ forecasts for a 6.3 per cent increase and snapping back from a 2.7 per cent drop in March that economists believe was heavily distorted by seasonal factors.
This growth in exports was led by a 20.7 per cent increase in shipments of high-tech products, led by mobile phone exports. Economists at ANZ believe some Chinese exporters may be accelerating electronics shipments amid the tariff threats.
China’s move to higher-value exports is clear, with shipments of lower-end products like shoes and apparel declining year-on-year, but its strategic tech sector is firmly in the cross hairs of the White House.
China’s April imports also grew strongly, suggesting its domestic demand remains resilient despite rising corporate borrowing costs and cooling property sales. Imports grew 21.5 per cent on-year, beating analysts’ forecast of 16 per cent growth, and accelerating from a 14.4 per cent rise in March.
India’s cotton production for the current season is estimated to be 36 million bales.
Crop arrival for the current season through the end of April was about 31.1 million bales. Total consumption during the same seven-month time period has been 18.9 million bales, averaging 2.7 million bales per month. By the end of April, about 86 per cent of the season’s crop had arrived in the market.
Total supply for the full season ending in September is estimated to be 41 million bales. Total domestic consumption during the season will be 32.4 million bales. Exports will be 6.5 million bales.
Uncertainty regarding possible Chinese tariffs on imports from the United States, plus the weakening of the rupee against the dollar, may help boost Indian exports.
In November 2017, Indian production was expected to be about 37 million bales, but a pink bollworm infestation in Maharashtra, Telangana and Andhra Pradesh has reduced the output. Gujarat is India’s leading cotton producing state.
The next two or three months look bullish for the cotton sector. There is a need for quality cotton, and the price difference between quality and average cotton is widening.
Timely rainfall during the June-September timeframe will determine planting intentions. However, chances for diversification are also possible, as the edible oil sector performed well in 2017-18.
Bangladesh’s garment exports grew 9.37 per cent year-on-year in the first ten months of the fiscal year.Knitwear exports rose 11.43 per cent and woven garments exports were up 7.42 per cent.
The shipment of garments, which account for more than 80 per cent of national exports, grew because of the increased sales of high-value items and the depreciation of the local currency against the dollar.
The industry is confident of achieving more than ten per cent garment export growth at the end of the fiscal year as the trend in the international market shows very bright prospects.
The country’s garment factories are full of orders from international retailers and brands, thanks to the massive progress in workplace safety carried out by Accord and Alliance.
Exporters also benefitted from the depreciated exchange value of the currency.
Meanwhile frozen and live fish exports grew 2.32 per cent. Shipment of agricultural products such as fruits and spices was up 16.77 per cent. Cotton, cotton products, and yarn exports went up by 19.01 per cent. Jute and jute goods exports rose 7.66 per cent. Home textile export rose 13.07 per cent, footwear 5.29 per cent and furniture 21.86 per cent.
On the other hand, exports of plastic goods fell 19.92 per cent. Exports of leather and leather goods sector also fell 10.02 per cent.
Arvind’s emerging brands have been growing steadily. Since the momentum is expected to continue, the company will continue to invest in the expansion of its distribution network, with an aim to grow sales by 20 per cent to 24 per cent in the ongoing fiscal year.
For the quarter and fiscal year ended March 2018 Arvind’s consolidated numbers were quite decent. The company saw its branded apparel business improving further over the period.
In the quarter gone by, the company’s overall sales grew on the back of improved off take in all its segments. However, prima facie, a rise in cotton prices impacted the textile segment’s margins.
Arvind’s branded apparel segment, besides being on a consistent uptrend in recent times, is still well-poised to deliver healthy returns. As a result, the company is aggressively scaling up operations and marketing expenses in this space, aimed at maximising operating leverage. The engineering segment too has put on a steady show.
The objective is to achieve a sales growth of ten per cent from the textile business, around a third of which it expects from the garments division.
Arvind recently forayed into the fast-growing athleisure category to cater to leading sportswear brands such as Nike, Adidas and Asics.
Indian designer Anita Dongre takes a big step as she gets set to go global and launch her two stores in New York. This Indian designer has opened a multi-floor flagship store in West Broadway that also includes bridal wear and menswear.
On May 9, the Anita Dongre West Broadway flagship store opened its doors to the public. The store, Dongre’s second in the city, houses not just her sustainable luxury line available in her Soho boutique, but also the rest of her multiple product lines.
Dongre has chosen a building from the 1900s spread over 4,500 square feet and four floors. The store’s lower level is dedicated to menswear and Dongre’s pret collection and the ground floor houses Dongre’s Grassroot brand set amongst natural wooden floors and hand-spun textile wall hangings.
The store’s upper level, across two floors, has been dedicated to Dongre’s bridal wear, couture, and jewellery. The decoration gives a sense of Rajasthan, a place from which Dongre draws much inspiration. Handmade furniture and lavish decorations resemble a Haveli and Dongre’s American customers can now browse her bridal wear in a traditional style setting.
Dongre stated that she had always loved the multicultural vibe of New York. Brides, grooms and their families no longer need to travel to India to visit the store. They can now enjoy the luxury of the bespoke services at this flagship store.
The International Cotton Advisory Committee (ICAC) had declared Dr. Baohong Zhang, Professor of Biology at East Carolina University, Greenville, USA, as the ICAC Cotton Researcher of the Year 2018. ICAC honours a leading cotton researcher each year by awarding a certificate of recognition, a shield and an honorarium of US$1,000.
A graduate from China Agricultural University with a degree in plant genetics and breeding, Zhang joined the Institute of Cotton Research at the Chinese Academy of Agricultural Science (ICR-CAAS) in 1991, where he pioneered the development of transgenic Bt cotton. He also developed an advanced CRISPR/Cas9 genome-editing tool and its application on cotton genetics and breeding. He is the first scientist to succeed in employing CRISPR/cas-9 genome- editing technology to knock out an individual functional gene in cotton, including the fibre-related MYB25-like and miRNA genes.
Additionally, Dr. Zhang developed highly efficient approaches for cotton somatic embryogenesis, plant regeneration and highly efficient Agrobacterium-mediated genetic transformation systems in cotton. He conducted innovative research on small regulatory RNAs and is a pioneer for cotton microRNA studies.
Apparel insulation specialist, PrimaLoft, has developed its first ever insulation made entirely from post-consumer recycled (PCR) content. At this year's OutDoor Show in Friedrichshafen, Germany, the company has introduced its PrimaLoft Silver Insulation and PrimaLoft Black Insulation, both of which are 100 per cent PCR.
According to the company, the challenge in producing a high-performance insulation made entirely from post-consumer recycled (PCR) material had been that the melting points of the collected PET bottles used to create the recycled fibres differ from that of virgin fibres, which made the production of a stable insulation fibre that meets performance standards very difficult.
The insulation will offer all the renowned properties that have made PrimaLoft the benchmark in performance insulation, such as low weight, high compressibility and water-repellent characteristics. Around nine commercially available PET bottles are necessary to create the insulation layer for one jacket (thickness 40g / m2).
By 2020, PrimaLoft plans to produce 90 per cent of its insulation products with at least 50 per cent recycled fibre. Most recently, the ingredient brand had provided its pinnacle products, PrimaLoft Gold Insulation and PrimaLoft Gold Insulation Active +, with 55 per cent recycled content.
An outdoor specialist Vaude became one of the first companies to use the sustainable synthetic insulation for its products. Starting in the winter season 2018/19, Vaude will convert all products that were previously equipped with PrimaLoft Silver and Black Insulation to the 100 per cent PCR versions by summer season 2019.
Cotton growers and researchers from the Darling Downs are among the finalists for this year’s Australian Cotton Industry Awards.
Growers Greg and Maryann Bender from Chinchilla, along with researchers Joseph Foley, Malcolm Gillies and Alison McCarthy from the University of Southern Queensland and Kristen Knight from Toowoomba, have all been nominated for awards.
Cotton Australia chief executive Adam Kay said the finalists were selected based on their contribution to the cotton industry across a wide range of areas, including farming best practice, research and development, innovation, leadership and industry advocacy.
Kay says each of the finalists had made outstanding contributions to the industry and deserved recognition and the nominees for this year’s awards program was of a very high standard.
The group of people represent the strengths of industry, innovation, dedication, the sharing of ideas and the drive to figure out a way to do things better.
The annual awards program is important to our industry because it allows us to recognise excellence and hard work, foster future growth and improvement across the industry.
The judging panel travels to the finalists’ home regions to meet and assess each of the candidates.
Cash prizes are on offer for the winners across all categories, with an additional research bursary for Researcher of the Year.
The recipients of the Australian Cotton Industry Awards will be announced at the 2018 Australian Cotton Conference.
