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Best known as Jin, South Korean singer and songwriter Kim Seok-jin from the globally renowned K-pop group BTS, has been named as new global brand ambassador by fashion brand Gucci.
Having gained further international recognition as an Olympic torchbearer for South Korea at the 2024 Paris Olympics, Jin is the eldest member of BTS at 31 years old. He recently completed his mandatory military service in June, making him the first member of the group to do so.
Joining Gucci's roster of Korean ambassadors, which includes Hanni, Lee Jung Jae, Park Gyu Young, and Jay Park, Jin’s appointment reflects the brand’s growing ties with South Korea. This October, Gucci will launch its ‘Gucci Cultural Month’ initiative in Seoul, a project dedicated to celebrating the heritage of Korean culture.
Featuring four globally renowned talents: conceptual artist Kimsooja, filmmaker Chan Wook Park, contemporary dancer Eun Me Ahn, and pianist Seong Jin Cho, the initiative will highlight their contributions through photography, videos, exhibitions, special performances, and cultural lectures.
With trucks stranded at Petrapole in West Bengal along the Bangladesh border amid the turmoil in the neighboring country, yarn manufacturers in Punjab are reporting losses worth crores of rupees, with payments stuck for many.
Triggered by violence in Bangladesh, the international border closure has left over 1,000 trucks, including several from Punjab and Gujarat, stranded. These states are primary exporters of cotton and synthetic yarn to Bangladesh.
Typically, 450-500 trucks move from India to Bangladesh through Petrapole, the largest land port in South Asia, daily, with about 150-200 trucks returning the other way.
AmitThapar, Owner, Ganga Acrowools and Head, CII-Northern Region Export Committee, notes, Punjab has significant stakes in Bangladesh, with total yarn exports exceeding Rs 4,000 crore annually.
Cotton yarn has the biggest share in the state’s exports, followed by acrylic wool. Many agents and companies have offices in Bangladesh. Goods worth over Rs 200-300 crore from the state are estimated to be stuck at the border, affecting orders worth Rs 1,000 crore.
Thapar states, goods worth about Rs 2 crore from his firm are stuck with orders worth Rs 4-5 crore being affected.
Transporter Bajrang Sharma, Goel Roadways, and Member, Management Committee, All India Motor Transport Congress, states, traders have instructed their drivers to park trucks in warehouses near the Petrapole border and return, while others are stranded in queues.
AseemHanspal, Managing Director, Skope and a Strategy Consultant on the advisory board of several textile organisations in both countries, notes, Bangladesh procures more than 50 per cent of its yarn from India for garment manufacturing. The turmoil has disrupted the supply and demand chain, leading to canceled orders.
However, a few garment manufacturers believe the current situation might benefit the industry in the state. Some garment orders are expected to shift to India from Bangladesh to fill the gap caused by the disruption. Garment exports from Bangladesh account for 85 per cent of its total exports. Both government and the industry need to act swiftly as India's garment manufacturers already face stiff competition from Vietnam, Myanmar, and Cambodia, says Sudershan Jain, President, Knitwear and Apparel Manufacturers Association of Ludhiana (KAMAL).
H&M has announced its latest designer collaboration with Indian designer Anamika Khanna, marking 20 years since its first such collaboration with Karl Lagerfeld in 2004.
This partnership, H&M’s second with an Indian designer following Sabyasachi Mukherjee, will launch on September 5 in select countries including India, the UK, South Africa, Malaysia, Singapore, and Vietnam.
AnamikaKhanna, known for her highglamour wedding wear, is reimagining traditional Indian garments like kurtapajamas and caftans with a focus on comfort and versatility.
The collection features womenswear, menswear, and accessories, emphasizing prints, embroidery, and easy silhouettes.
The collaboration aims to bring Indian design to global markets and reflects the growing influence of Indian fashion worldwide.
To be organised by the Southern Gujarat Chamber of Commerce and Industry (SGCCI) in Surat, Yarn Expo 2024 will for the first time showcase specialty yarns used in silk replacement fabrics, sportswear, technical textiles and medical textiles. The expo will be held from Aug 09-11, 2024, at the Surat International Exhibition and Convention Centre (SIECC) in Sarsana.
Approximately 92 exhibitors from across India will participate in the expo that will also attract over 1,000 buyers from various cities nationwide. A special pavilion dedicated to the sources of raw materials for yarn production will be featured for the first time.
Vijay Mewawala, President, SGCCI, states, the primary goal of this edition of Yarn Expo is to advance the textile industry in Surat by providing industrialists with knowledge about the latest yarn production technologies. Spanning approximately 116,000 sqft, the expo will attract exhibitors from Surat, Ahmedabad, Vadodara, Navsari, Mumbai, Erode, Coimbatore, Tamil Nadu (Namkhal and Karur), Jaipur, Bangalore, Panipat (Haryana), Chennai, and Karnataka.
This year, the Yarn Expo will highlight a variety of yarns, including Silver Jari and Gold Jari, Tensil Yarn, Katan, N Silk, Lyocell, Zinc Linen, Carbon Fiber, Moisture Management, Bio-Degradable, Hemp Yarn, and Antimicrobial Yarn. N silk and lyocell yarns are notable for replacing silk in textiles, while carbon fiber and biodegradable yarns are used in technical textiles. Antimicrobial yarns are essential for medical textiles. These yarns are also used in sportswear, technical textiles, and export-oriented fabrics.
As announced by Nikhil Madrasi, Vice President, SGCCI, RohitKansal (IAS), Additional Secretary, Ministry of Textiles, will be the chief guest at the inaugural function on Aug 9, 2024. Other dignitaries to attend the event include PrajaktaVerma (IAS). Joint Secretary, Textile Ministry; Anil Kumar (IRS), Director; SP Verma, Additional Textile Commissioner and J. Raghunath, Senior Vice President, Reliance Industries.
eVent Fabrics, a leader in high-performance waterproof and breathable technologies, has partnered with Formidable Media, a public relations agency with extensive experience in the textile and apparel industries. This collaboration aims to enhance eVent's strategic communications and boost global brand visibility.
Chad Kelly, President of eVent Fabrics, expressed enthusiasm about the partnership, highlighting that eVent has been a leader in breathable waterproof technology for the past 25 years. He emphasized that recent advances in performance and sustainability have positioned the company to embrace its next phase of growth in the market.
Formidable Media will support eVent’s public relations efforts to increase brand recognition and market share. The company offers a range of technologies, including waterproof, windproof, and professional options, tailored for demanding apparel, footwear, and accessories. Their new sustainable solutions, alpineST and eVent BIO, exemplify their commitment to eco-friendly practices.
Scott Kaier, Founder and President of Formidable Media, remarked that eVent is an ideal partner due to its high-performing waterproof and breathable laminates, as well as its range of PFAS-free offerings. He believes these strengths position the brand for significant growth.
eVent Fabrics joins Formidable Media’s roster of esteemed clients, including Allied Feather + Down and Active Apparel Group.
The Lenzing Group, a top supplier of regenerated cellulose fibers, saw a gradual business improvement in the first half of 2024. Revenue grew by 4.8 per cent to €1.31 billion, driven by a 9.3 per cent increase in fiber revenue.
Despite higher raw material and energy costs, EBITDA rose 20.4 per cent to €164.4 million, with an EBITDA margin up from 10.9 per cent to 12.5 per cent. The operating result (EBIT) improved to €18.9 million from a previous loss, while earnings per share narrowed to minus €1.84.
CEO Stephan Sielaff highlighted ongoing efforts to reduce costs and boost global sales, aiming for enhanced profitability and resilience. CFO Nico Reiner noted the positive impact of performance initiatives on EBITDA and free cash flow, anticipating over €100 million in benefits this financial year. Capital expenditure decreased, and cash reserves grew to €825.9 million.
Significant changes included suspending the €4.50 per share dividend policy and Suzano SA acquiring a 15 per cent stake from B&C Group. Leadership updates featured the appointment of Walter Bickel as Chief Transformation Officer and Rohit Aggarwal as the future CEO.
Looking ahead, Lenzing anticipates stable growth in environmentally responsible fibers despite global economic uncertainties. The company's performance program is ahead of schedule, promising continued earnings improvement and a stronger market position in sustainability.
Karl Mayer North America will exhibit at CAMX 2024 in San Diego from September 9-12, showcasing their expertise in non-crimp fabric production.
Located at booth EE54, the company will present high-performance machines such as the Cop Max 4, a versatile producer of multilayer, multiaxial fabric structures, and the Cop Max 5, designed for processing carbon fibers.
The UD 700 fiber spreading system and the newly launched Max Glass Eco, ideal for manufacturing glass fiber goods, will also be featured.
Karl Mayer will highlight sustainable composite reinforcements using natural fibers. In collaboration with the winter sports industry, they have developed non-crimp fabrics from hemp and flax fibers for snowboards and skis, gaining positive feedback at Techtextil and JEC World.
Lutz Heinig, Sales Manager at Technical Textiles, highlighted the industry's need to reduce its ecological footprint. He noted that Karl Mayer's non-crimp fabrics made from natural fibers can make a significant impact. Heinig looks forward to engaging with the American trade audience and introducing Karl Mayer’s innovative technologies to new companies in the sector.
Citing expected currency headwinds, higher freight costs and continued muted consumer sentiment, German sportswear brand Puma has narrowed its outlook for full-year core profit even as the brand reported its second-quarter results.
Having recently launched new marketing initiatives to better compete with larger rivals like Adidas and Nike, Puma has been grappling with weaker consumer demand and excess stock at the sportswear retailers through which it makes most of its sales.
The company now expects operating profit (EBIT) to range between €620 million-€670 million ($676-$731 million), compared to its previous forecast of €620 million to €700 million.
The company expects net income to change in 2024 in line with the operating result. It reported a net income of €304.9 million in 2023.
In the second quarter, the company’s currency-adjusted sales rose by 2.1 per cent to €2.12 billion, aligning closely with the €2.15 billion expected by analysts, according to LSEG data. This growth was driven by a 9 per cent increase in the Americas region.
However, in the Europe/Middle East and Africa region, currency-adjusted sales dropped by 4.3 per cent to €817.9 million. While Europe returned to growth, this was offset by declines in Eastern Europe, the Middle East, and Africa, following a strong quarter in the previous year.
In the Asia/Pacific region, the company’s sales grew by 1.9 per cent, boosted by growth in Greater China. Its quarterly EBIT increased by 1.6 per cent to €117 million despite negative currency effects.
SudhirSekhri, Chairman of AEPC, highlighted growing concerns among buyers over the escalating civil unrest in Bangladesh. He noted that fast fashion buyers are pulling their orders from Bangladesh due to the instability.
These orders, primarily involving man-made fabrics sourced from China, Korea, and Europe, are challenging to shift to India because of India's restrictive import policies. Only orders using Indian-origin fabrics might be moved to Indian factories.
Sekhri emphasized that long-term buyer confidence in Bangladesh was already waning due to capacity saturation, a trend accelerated by the current unrest. Buyers are now expediting their search for alternative manufacturing hubs. For India to benefit, local factories need to increase their capacities.
However, buyers remain cautious about relocating their orders to India unless the Indian government revises its import policies to allow easier access to imported man-made fabrics, trims, and accessories.
In summary, while the turmoil in Bangladesh creates opportunities for Indian manufacturers, significant policy changes are essential for India to become a viable alternative for fast fashion buyers.
Backlash against the clothing retailer Forever 21 has intensified in recent weeks following social media posts from frustrated shoppers claiming the brand was reducing its plus-size offerings in U.S. stores. Additional videos highlighted that Forever 21 recently shut down its Instagram account dedicated to plus-size clothing customers.
However, Forever 21 asserts that it does not intend to pull back from the plus-size clothing market. Instead, it aims to consolidate all of its social media accounts into a single Forever 21 account.
The brand emphasised its commitment to increasing its plus-size offerings. Like many stores that once dominated shopping malls, Forever 21 has faced significant challenges in recent years. The chain filed for bankruptcy in 2019 and was subsequently bought out of bankruptcy in 2020.
The group that saved the brand consisted of Authentic Brands Group and two real estate companies, which NPR reported as being ‘America's largest mall operators.’ The new owners have since partnered with online fashion retailer Shein in hopes of revitalizing and expanding Forever 21.
