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"The desire to learn about popular international fashion amongst US consumers is encouraging international labels like Rouge and Ganni to set up bases in the country. One of the first brands to eye the US market, London-based jewelry brand Missoma generates around 20 per cent of its sales from the US"
The desire to learn about popular international fashion amongst US consumers is encouraging international labels like Rouge and Ganni to set up bases in the country. One of the first brands to eye the US market, London-based jewelry brand Missoma generates around 20 per cent of its sales from the US.
Similarly, Brazil-based mega brand Farm Rio eyes the US market as its first step towards global expansion. The brand has already achieved success in this market through its partnerships with brands like Adidas and Anthropologie.
Much like these two brands, other native brands like Glossier, Mejuri, or Golde have also established an emotional and human connection with their customers. They are learning about all the important cultural events in the country that fuels their creativity besides inspiring confidence and encouraging collaborations with local brands.
Culture, customisation, practicality inspire American clothes
As for shopping habits, American consumers are a lot savvier and curated. They seek an easy point of sale and look for the best deal as against UK, shoppers who are more likely to go directly to the site. For these brands, holiday sales like Labor Day and Black Friday are much more important.
US shoppers also like customised products. They like their products to have a personal touch as against Europeans who adopt an impersonal attitude to their clothes. The US market also challenges brands to consider practical elements of design in addition to culture. This is evident from the fact that Brazilian brand Farm Rio tailors its collection to the US market and the distinct differences between the two countries in climate, seasons, lifestyle and culture. The brand introduced its first-ever fall collection this season, to cater to the colder climate that one doesn’t experience in Brazil. It’s cool-weather collection is infectiously colorful with tropical-inspired puffer coats emerging as the favorite amongst US women.
Department stores, multi-retailer website guard emerging brands
Though VC-funded direct-to-consumer brands have become major disruptors of the US retail space, department stores and multi-retailer sites continue to guard emerging brands. This is evident from the recent success of Net-a-Porter's Vanguard program, an incubator that helped launched buzzy labels like Peter Do and Ratio Et Motus.
Similarly, Missoma, a DTC brand, partnered exclusively with Nordstrom to help growth in states. Farm Rio has also partnered with Shopbop to create awareness amongst its loyal shoppers across the country. Since these brands are expert curated, a site like Shopbop offers consumers an opportunity to learn about these national and international brands.
Pantone, provider of professional color language standards and digital solutions, and X-Rite have named Pantone 19-4052, Classic Blue, as the Pantone Color of the Year for 2020. The Color of the Year is selected after a detailed trend analysis. Pantone’s color experts at the Pantone Color Institute comb the world looking for new color influences.
Imbued with a deep resonance, Pantone 19-4052 Classic Blue provides an anchoring foundation. It brings a sense of peace and tranquility to the human spirit, offering refuge. Aiding concentration and bringing laser-like clarity, Pantone 19-4052, Classic Blue re-centers thoughts. A reflective blue tone, Classic Blue fosters resilience. Non-aggressive and easily relatable, it lends itself to relaxed interaction.
The Pantone Color of the Year highlights the relationship between trends in color and what is taking place in our global culture at a moment in time, a color that reflects what individuals feel they need that color can hope to answer. The selection provides strategic direction for the world of trend and design, reflecting the Pantone Color Institute’s year-round work doing the same for designers and brands.
EU-funded SMART Textile and Garment project is holding a conference at the Sedona Hotel in Yangon and will see a good presence of brands, trade unions and business heads.
The project aims to deliver on-site assessments and trainings on key topics like workplace communications and human resource management systems. And the training will be provided by local and European industry experts. There will be special training programs on occupational safety and health, chemicals and waste management too.
SMART Myanmar has been actively involved with Myanmar Garment Manufacturers Association (MGMA) for some time now. The project has been able to conduct training and consultancy programs with 299 garment, textile and footwear factories since 2016, which resulted in bringing thousands of improvements related to safe workplaces, effective HR management and energy efficiency. The new project intends to take the efforts and commitment forward.
After a relatively optimistic year, a new report by Business of Fashion (BoF) and The McKinsey Global Fashion Index forecasts growth of the global fashion industry to decline by 3 to 4 per cent in 2020. This will pressurise brands to perform and fine-tune their customer base.
With the first scoops on talent and resources going to the top 20 players such as Nike, adidas, Pandora and H&M who make up majority of the industry’s profit, smaller brands are at a high risk of falling behind.
While the digital age has primed consumers to expect a quick and easy service it also opens up new opportunities for engagement. By utilising social media strategies to create eye-catching posts and keeping up to date with new technologies that make the shopping experience seamless, brands may stand a chance in 2020.
BoF lists some other useful strategies such as improving in-store experience, creating sustainable products, and championing important values such as diversity and inclusion.
The European Union wants Bangladesh to address outstanding labor issues including freedom of association in export processing zones (EPZs). The EU already grants Everything But Arms (EBA) privileges to Bangladesh. The EU is working with Bangladesh on GSP Plus issues.
Bangladesh expects to face enormous challenges in adjusting to the fourth industrial revolution and robotics technologies. Bangladesh is the second largest exporter of readymade garments in the world. About 58 per cent of Bangladesh’s garment exports go to EU countries. Bangladesh wants to graduate from LDC status by 2024. But once this happens it may lose the EBA facilities. The country has urged the EU to continue providing GSP Plus trade facilities for Bangladesh. One challenge Bangladesh faces is that the export basket is restricted to garments. Bangladesh wants EU foreign direct investment and technologies in other promising export sectors such as agro-processing, shipbuilding, information and communication technology and pharmaceuticals in order to move up the value chain and enable a win-win benefit. The EU has also been invited to invest in special economic zones in Bangladesh. Both are joining hands to address impediments to more FDI from EU countries to Bangladesh. Several rounds of dialogue have resolved some outstanding issues.
The European Union is working with more than a 100 garment and textile factories in Myanmar in expanding training and capacity building programs for social and environmental performance.
The Smart Myanmar project, which will feature the involvement of local and European experts, will deliver on-site assessment and training on topics such as human resource management systems and workplace communications, occupational safety and health, chemicals and waste management, and energy efficiency. The aim is to improve work conditions, strengthen sustainable production practices and responsible supply chains and foster responsible business practices in Myanmar.
Smart Myanmar has been working with garment factories since 2013 to promote sustainable consumption and production of garments – a concept with an emphasis on resource efficiency and social responsibility. In fiscal year 2018-19, Myanmar-made garments were among the largest export categories in the country. Since 2013, Myanmar’s garment sector has shown staggering export-oriented growth. The garment industry serves largely the European market and has created job opportunities for thousands, mostly women. Europe is one of the world’s largest consumer markets. European consumers pay a lot of attention to where the products they buy come from and how they are produced. Sustainable production and respect for international labor standards are therefore important topics in the EU’s trade relations with Myanmar.
New & Next will again be a part of Heimtextil to be held during January 7 to 10, 2020. This competition, launched during the last Heimtextil, is aimed at promoting newcomers. The last event offered budding textile designers the chance to submit their work via their university and secure an exclusive presentation area at the fair. Out of a total of 18 submissions from around the globe, three universities - the University of Bolton from the UK, the Indus Valley School of Art and Architecture from Pakistan and the Lucerne School of Design & Art from Switzerland – won the competition. The three universities were selected by a five-member jury of experts. The works produced by the students from these universities impressed the jury with their creative approaches and reinterpretation of traditional craftsmanship. Their use of natural materials was found to be extremely innovative and in keeping with the zeitgeist. Representatives from the universities and their students will present the award-winning works at the New & Next area.
Over a dozen participants with fresh design ideas are expected to attend in January 2020. They will also be offering creative design products for furniture and decorative fabrics as well as bed and bath.
The Indian Cotton Association expects the country to export around 42-60 lakh bales of cotton this year. The annual exports of Indian producers and processors are likely to increase by 10-15 per cent to 60 lakh bales. Demand will largely come from Bangladesh, China and Vietnam. India will also have an opportunity to export cotton and cotton yarn to Pakistan.
Cheaper cotton prices compared to USA and Brazil, give India an edge in the global trade. With US and China indicating trade talks to resume and with possibility of even roll back in tariffs, Indian exporters and traders anticipate an increase in exports. The industry estimates the production of cotton bales to increase by 354.50 lakh which is higher by 42.50 lakh bales compared to the previous years. Rains in West India have damaged crop in Maharashtra, Gujarat, Telangana and parts of Rajasthan which was likely to ensure that good quality cotton get good price.
Fashion firms need to think about raw materials, their mill relationships and emerging sourcing destinations differently. Apparel companies can’t be in too much of a rush when it comes to diversification. Businesses sourcing in China are eager to get out, but they have to be careful about jumping out of one problem and into a host more if the new country can’t meet the productivity, quality, speed and sustainability they need. For instance, the items that cost the most may not be the first ones they should move. They may need to accelerate the low-cost items more. Even though the impact from the tariff on those is lower, those are the ones that don’t have a lot of margin and so the possibility to absorb any impact to speed to market is lower.
Beyond trade-related levers, there are several strategies for lowering fabric-related costs. The first is the cost engineering the automotive and electronics industries have developed to manage cost of goods. Essentially, they’ve figured out how to determine what the inputs they purchase should cost rather than relying on prices set by suppliers. It saves money and alleviates the need to negotiate. Further, it puts more power in the hands of the designers.
As per Persistence Market Research, the global wool yarn market is anticipated to grow at a CAGR of 4 per cent from over $33,500 million in 2018 to nearly $50,500 million by the end of 2029.
Increasing disposable income and per capita consumer spending on clothing and other textiles, coupled with the growing youth inclination towards fashion trends, has escalated the consumption of wool yarn in end-use industries. The increasing preference for upholstery fabrics among consumers to enhance the appearance of their home interiors is also creating a lucrative impact on the wool yarn market, as wool yarn is used in the manufacturing of curtains, carpets, etc.
China is one of the leading producers of wool yarn in the world. A major part of the wool yarn produced in China is consumed in the country itself. Large population and changing lifestyles in China are attributed for its large share in the global wool yarn market. The world trade of fabric and finished products has expanded at a fast pace, as retailers buy goods from manufacturers, worldwide.
Even with the reduction in overall wool production, the trade of yarn, apparel, and textile items has grown. This is expected to drive the demand for wool yarn from clothing and textile industries.
