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The Union Government aims to establish dedicated laboratories to test high-grade cotton in six key states - Maharashtra, Tamil Nadu, Haryana, Punjab, Gujarat, and Karnataka. This will help the government elevate India’s Kasturi cotton to a global brand status, mirroring the quality standards set by renowned global cotton brands like Supima and Giza, known for their exceptional softness, strength, and durability.
Aligned with the Bureau of Indian Standards (BIS), these labs will ensure adherence to national quality benchmarks. Despite being a major producer of cotton, India has only recently begun branding its cotton products. In contrast, Egypt has successfully positioned its Giza cotton brand internationally.
The Indian variant, Kasturi Cotton Bharat, upholds stringent standards, limiting trash content to 2 per cent to ensure premium quality and enabling 100 per cent traceability. However, the absence of dedicated testing facilities raises concerns regarding the authenticity and global acceptance of the product.
The Ministry of Textiles aims to address this by finalising a comprehensive testing action plan focusing on enhancing overall quality standards to promote Indian textiles globally. This technology upgradation plan will enable real-time testing, emphasising credibility and accuracy, thereby ensuring the global acceptance of Indian textiles, particularly Kasturi cotton. Presently, the testing facilities under the textiles ministry, including those operated by the Cotton Corporation of India (CCI), lack NABL accreditation.
The government has identified five key focus areas, including skill development, infrastructure enhancement, and investment attraction to strengthen India's textile ecosystem. It has launched initiatives like PM Mega Integrated Textile Regions and Apparel (PM-MITRA) parks, the production-linked incentive scheme, and others to attract significant investments, potentially creating millions of new jobs in the next few years.
Bernard Arnault, the visionary behind luxury titan LVMH, is orchestrating a meticulous succession plan, poised to transfer the reins to his offspring. With an illustrious career spanning four decades, Arnault has propelled LVMH to unparalleled heights, navigating the volatile landscape of luxury with finesse. As the world's richest, his strategic acumen has solidified LVMH's dominance, boasting a nearly €400 billion empire.
This week marks a pivotal moment as two of Arnault's sons ascend to the LVMH board, cementing the family's dynasty within the company. Despite Arnault's reluctance to openly discuss succession, insiders reveal a calculated strategy to groom his progeny for leadership roles. Notably, Delphine, Arnault's eldest, commands a prominent position as CEO of Dior, fueling speculation about the future helm of LVMH.
The looming transition comes at a critical juncture for the luxury behemoth, grappling with a post-pandemic slowdown amid shifting market dynamics. Analysts anticipate a departure from traditional strategies as the next generation navigates an evolving landscape, no longer reliant on China's exponential growth.
Arnault's keen eye for familial preservation is underscored by the cautionary tale of the Lagardère dynasty, serving as a poignant reminder of the perils of mismanaged successions. In contrast, Arnault's progeny have been meticulously groomed for their roles, a testament to his unwavering commitment to familial legacy.
As the baton passes to a new guard, the departure of stalwart executives like Antonio Belloni signifies a symbolic shift, heralding a new era under the stewardship of Arnault's descendants. Amid speculation and anticipation, shareholders await the next chapter in LVMH's storied history, where tradition seamlessly merges with innovation under the watchful gaze of the Arnault dynasty.
Japan-based textile technology solutions provider Shima Seiki Mfg will display its MACH2 XS153 15L computerised Wholegarment flat knitting machine and SDS -ONE APEX4 3D Design System at the Techtextil exhibition in Frankfurt, Germany this month.
The MACH2 XS machine features 4 needle beds and the company’s original SlideNeedle™, that produces high-quality fine gauge Wholegarment products in all needles. There is great potential for Wholegarment® knitting in the field of technical textiles, where most items are produced by woven or circular- and warp-knitted textiles using specialised industrial materials that are in many instances very costly.
Through the Wholegarment knitting technology, Shima Seiki offers a sustainable, economical and smarter alternative to current manufacturing processes for technical textiles. In addition, the Wholegarment ® knitting machine can produce one product at a time. It can produce on-demand production for customised items such as for patient care in the medical field.
The exhibition will also showcase Shima Seiki’s SDS -ONE APEX4 3D Design System with its ultra-realistic simulation capability that realises virtual sampling.
When countless variations must be evaluated before arriving at a final design, virtual product samples can be used to streamline the decision-making process by minimising the enormous amount of time, cost and material normally associated with producing actual samples for each variation. When approved, the same data can be converted to machine data for immediate knitting, significantly reducing lead times.
The third edition of the e-P Summit focused on the theme of ‘Artificial Intelligence’ and its impact on the fashion and luxury sectors. The ‘Smart Factory’ area at the event demonstrated ‘smart machinery and technologies supporting the production of leather goods and apparel, aligning with Industry 4.0 principles.
Held from April 9-10, 2024 at the Stazione Leopolda in Florence by Pitti Immagine, this year, the e-P Summit recorded a significant rise in the number of exhibitors. Around 47 digital high-tech companies showcased their innovations this year as against 33 last year. The event featured 30 events, including panel discussions, speeches, and presentations. It attracted around 800 industry players.
Besides insightful discussions, the event also honored innovators within the fashion tech startup ecosystem. Pitti Immagine and UniCredit presented the Innovation Call prizes, with the E-P Summit Innovation Award of €5,000 bestowed upon ZeroW.
Raffaello Napoleone, CEO, Pitti Immagine, remarked, the growing consensus among high-tech and fashion operators at the event was satisfactory. The quality of speeches and the productive exchanges between participating companies and industry professionals were commendable, he added.
According to Rinaldo Rinaldi, Scientific Director, e-P Summit, the event has a global reach with approximately 350 professionals from fashion, luxury, technology, and consulting sectors participating in it. The summit focused on topics ranged from the transformation of manufacturing processes with emerging technologies like AI and the Internet of Things to digital best practices for enhancing customer experiences. It showcased cutting-edge technological innovations poised to shape the future of the industry.
Sephora has appointed Ding Xia, former E-commerce Chief-Asia, Nike Inc as the new head of its operations in China. Previously employed as the Vice President and General Manager-E-commerce (Asia-Pacific and Latin America, Nike, Inc, Ding Xia will spearhead Sephora's efforts to revitalise its mainland business.
As the new managing director for Greater China, Ding Xia will help propel the brand’s next growth phase, says Alia Gogi, President-Asia, Sephora.
LVMH's second-largest brand by sales, Sephora has been struggling to replicate the success it enjoyed in the US and Europe, to China. The brand faces intense competition in the cosmetics sector with dominance of major e-commerce platforms like Alibaba's Tmall posing significant obstacles.
Unlike in other markets, Sephora has not been able to successful in boosting its store sales in China, where everything from groceries to luxury items is sold online.
Having expanded its store network to 300 in China since 2005, the brand has incurred losses since 2022 due to strict COVID lockdowns and an economic slowdown.
With previous experience in leading HanesBrands Inc.'s China expansion and serving as president of JD.com Inc.'s fashion arm, Ding Xia faces the challenge of enticing cautious Chinese consumers to invest in Sephora's products. The brand's relatively higher prices may pose a disadvantage in a market increasingly driven by price-conscious middle-class consumers. A price war among beauty brands further complicates the brand’s position in China.
Hermes is likely to surpass LVMH's flagship brand Louis Vuitton as the luxury industry's top earner in the near future, predict analysts at Citigroup Inc.
Dated April 12, Thomas Chauvet's note shows, Hermes' sales are likely expand to €20 billion ($21.3 billion) by 2027 or even earlier, a feat achieved by Louis Vuitton in 2022. In 2023, Hermes recorded group revenue of €13.4 billion.
Spanning from accessible to ultra-luxury ranges, Hermes' strategic pricing coupled with its tight control over distribution, positions it favorably for expansion across various categories including ready-to-wear, watches, jewelry, and tableware.
Despite concerns about a potential slowdown in demand for high-end goods post-pandemic, Hermes' shares have outperformed other luxury stocks with a 20 per cent increase year-to-date. In comparison, the industry gauge rose by only 6.8 per cent, while LVMH saw an 8.2 per cent uptick.
Centered on scarcity and catering to affluent clientele, Hermes' unique business model offers a level of insulation from industry downturns.
A conglomerate with 75 luxury brands spanning handbags to Champagne, LVMH remains the world's largest luxury group. According to HSBC analysts, Louis Vuitton alone contributes approximately 50 per cent to LVMH's profitability and accounts for 26 per cent of its total sales.
Renowned global fast fashion brand Mango is making its debut in Norwich market with a store at the Chantry Place. The brand will occupy the vacant space on the upper ground floor previously occupied by Monsoon and Accessorise. These sister stores closed in December 2023 hinting at the arrival of a prominent fashion player, confirms Paul McCarthy, Centre Manager.
While the specific opening date for the new Mango store in Norwich remains undisclosed, another upscale brand, Flannels, will open its store at the Chantry Place. Occupying both the lower and upper ground floors, Flannels will take over the former space of Sports Direct. Established in 1976, Flannels specialises in luxury designer fashion for all ages, featuring renowned labels like Gucci, Marc Jacobs, and The North Face.
Renowned exporter of fabrics and garments to both global and domestic markets for the past two decades, Globe Textiles India plans (GTIL) to augment its garment processing capacity by up to 20,000 units per day and 6 lakh units per month, aiming for a robust top line of 520 crore in the next three years.
Committed to maintaining environmental sustainability, GTIL’s eco-friendly facility features a Zero Liquid Discharge system and leverages solar energy to reduce operational costs. Aligning with the company's ethos, this initiative also contributes to its bottom line, with its revenues expected to increase by 30 per cent by 2027.
An industry leader in environmental responsibility and customer satisfaction, particularly in the realm of fashion, GTIL employs nature-friendly dyes and chemicals, along with pioneering sustainable processing techniques to deliver superior quality apparel while minimising its ecological footprint.
Further GTIL plans to soon introduce denim tops for women, affirms Bhavin Parikh, CEO. Through strategic initiatives such as a successful rights issue and acquisitions, GTIL aims to not only expand its asset base, margins, and top-line growth but also introduce innovative sustainable fashion garments.
With revenue of Rs 399.4 crore and a production capacity exceeding 2.5 lakh sq ft in December 2023 GTIL demonstrated consistent financial performance, boasting a 10-year Compound Annual Growth Rate (CAGR) of 13 per cent in both revenue and net profit.
Vietnam's garment and textile sector is actively implementing certain strategies to boost production and business operations amidst formidable challenges including dwindling demand, mounting inventory, and geopolitical unrest across various regions.
Enterprises within the sector have reported an influx of export orders, albeit with no corresponding improvement in prices. The value of several contracts has decreased by 30-50 per cent. Additionally, speculation and logistical hurdles are expected to boost cotton prices across the sector. Vietnamese firms are also grappling with fierce competition in the Chinese market, where domestic production is bolstered by tax incentives and support policies.
Cao Huu Hieu, General Director, Vietnam National Textile and Garment Group (Vinatex), says, it is important to seize these opportunities, make informed forecasts, and stay abreast of the evolving situation to take timely action. He advocates for a thorough restructuring of organisations, adoption of advanced management techniques, and prioritisation of projects aimed at enhancing productivity.
Echoeing this sentiment, Le Tien Truong, Chairman, Vinatex, highlights, these obstacles present ample opportunities for firms with robust business strategies, diversified product offerings, active engagement in the supply chain, and a strategic approach towards the digital and green economies. The association pledges to closely monitor market trends and member operations, devising flexible and innovative measures to develop products and explore new markets to ensure sustained business efficiency.
Nguyen Xuan Duong, Chairman, Hung Yen Garment Corporation Joint Stock Company, underscores the challenges faced by firms due to high input costs and workforce transitions to other markets such as South Korea and Japan. Moreover, the sector contends with a global demand downturn of 5-10 per cent, compounded by the risk of major fashion brands facing bankruptcy, resulting in substantial losses for Vietnamese firms.
Duong urges relevant ministries and sectors to enact policies facilitating access to capital for enterprises to strengthen investment and bolster production. He also emphasises the need for assistance programs to improve workers' livelihoods.
Despite these challenges during January to March, Vietnam’s garment and textile exports expanded by 10 per cent Y-o-Y to reach approximately $10 billion. This growth serves as a beacon of hope for enterprises striving to achieve the set target of $44 billion for the entire year.
Norway based-Tomra Textiles and London-located Circle-8 Textile Ecosystems have teamed up to advance the first automated textiles sorting and pre-processing facility for non-reusable waste textiles in the UK.
The companies will conduct a comprehensive feasibility study to design a scalable automated textile sorting and pre-processing facility. Leveraging Tomra's expertise and experience, Circle-8 aims to develop solution designs tailored to the UK's needs for an automated sorting and pre-processing facility for non-reusable textiles.
A key member of ACT UK, Circle-8 is actively engaged with stakeholders across the textile value chain to foster a circular textiles ecosystem. Tomra brings invaluable insights from its involvement as the main technology provider for SIPtex, the world's first fully scaled automated textile sorting facility, located in Malmö, Sweden. Drawing from lessons learned in this project, Tomra is committed to optimizing and reconfiguring its technology for industrial-scale sorting of post-consumer garments. The feasibility study seeks to devise an automated solution capable of sorting textiles by fiber composition and color, as well as removing disruptors such as buttons, zippers, and trims, while preparing materials for textile-to-textile recycling processes.
Cyndi Rhoades, Co-founder and CEO, Circle-8 Textile Ecosystems, emphasises the critical role of automated sorting and pre-processing in creating a truly circular textiles value chain. She asserts the collaboration with Tomra will highlight the potential for positive progress in this endeavor.
Vibeke Krohn, Head, Tomra Textiles, stresses the importance of collaboration across the value chain, citing Tomra's extensive experience in developing technologies for the transition to circularity. Together with Circle-8 and its network of retailers and brands in the UK, Tomra aims to drive meaningful progress towards designing a solution for the sorting and pre-processing of non-reusable textiles.
