Textiles (142)
Tanzania Cotton Board, Karachi Cotton Association explore new export opportunities
Written by FWLed by Marco Charles Mtunga, Director General, a delegation from the Tanzania Cotton Board recently visited the Karachi Cotton Association to promote their shared interests and explore more opportunities for exporting cotton from Tanzania.
During the meeting, KCA officials expressed concerns about the quality of cotton being imported from Tanzania and the packaging of the cotton bales. Furthermore, they pointed out to challenges related to tracking the origin and ensuring sustainable practices, which local importers faced when buying raw cotton from Tanzania.
Mtunga assured the KCA members of addressing these issues with the Tanzanian Government to resolve them in the best interest of Pakistani cotton importers.
He explained, Cotton production in Tanzania was mainly driven by small-scale farmers, with the Shinyanga and Mwanza regions being the largest cotton-growing areas. On average, the country cultivates cotton on about a 400,000 acre farm every year. However, the amount of cotton produced per acre is lower compared to the global average, Mtunga added.
Dependent mostly on rainfall, this cotton cultivation is affected by weather conditions, the prices farmers receive, and the availability of farming supplies, agricultural advice, and new technologies. Jahangir Moghul, Vice Chairman, KCA notes, after reaching a high of 14.26 million bales in 2004-05, Pakistan's cotton production gradually decreased each year. As a result, the local textile industry is forced to import raw cotton to meet its increasing needs.
C&A recycles denim leftovers into a new flooring material
Written by FWThe Northern European fashion retailer C&A recycles denim leftovers from its own factory in Moenchengladbach, Germany into a new flooring material.
Specially designed for retail environments, the flooring material is made by recycling about 80 per cent of leftovers that include jeans fabrics, cork underlays from the bottle industry and wooden boards processed using natural products such as vegetable fats and natural rubber. The fibers are produced by the Swiss family-run company Lico using natural products such as vegetable fats and natural rubber. Moreover, the company uses energy from renewable sources, including a photovoltaic system and local hydropower plants.
The jeans flooring has been awarded with Environment Product Declaration (EPD) and the Blue Angel Award. It also won the Green Collection Award 2023.
The company providing the jeans scraps, the C&A FIT (Factory for Innovation in Textiles), is a pioneering facility in Mönchengladbach, Germany. Opened in 2021, the factory manufactures around 1,000 pairs of jeans every day using advanced automation, digitalisation and electricity from renewable sources. The factory also conserves water by using only 10–15 liters per a pair of jeans compared to the industry standard of 70 liters.
Lenzing subsidiary issues $650 million Green Notes for sustainability
Written by FWLenzing Group’s subsidiary, LD Celulose International GmbH, has successfully issued Green Notes worth $650 million. The notes, which mature on January 25, 2032, have a coupon rate of 7.95 per cent per annum and were in high demand among institutional investors.
This funding is part of a broader $1 billion financing strategy for LD Celulose S.A. (LDC), a joint venture between Lenzing and Duratex. It also includes a $350 million syndicated term loan. The proceeds from the Green Notes, along with the term loan and cash reserves, will be used to repay existing financial obligations and fund eligible green projects in line with the company’s Green Financing Framework.
Rohit Aggarwal, CEO of Lenzing Group, emphasized the company's commitment to sustainability, noting that the strong investor interest reflects Lenzing's leadership in sustainable textiles and nonwovens. CFO Nico Reiner added that the transaction transitions LDC's financing to a standalone corporate structure, supporting its position as one of the largest dissolving wood pulp plants globally, with a capacity exceeding 500,000 tons annually.
The Green Notes, issued by LD Celulose International GmbH and guaranteed by LDC and LD Florestal SA, will be listed on the Singapore Stock Exchange. This strategic move further aligns with Lenzing’s vision of enhancing sustainability in the textile and nonwovens industry.
Brother International unveils latest machines range at GTE 2024
Written by FWAt the recently concluded Garment Technology Expo (GTE) 2024 in Bengaluru, Brother International (India) unveiled its latest range of flatbed and multi-needle machines, targeting emerging entrepreneurs in the garment industry.
With a focus on small business owners, fashion students, and boutique operators, Brother India caters to the rising demand for customised monogramming and fashion designs by offering advanced machines that combine versatility with precision.
Highlighting the company’s new machines that meet the needs of small-scale manufacturers, Rudra Pratap, National Sales Head, says, these products are ideal for small businesses looking to expand their creative capabilities in a competitive market.
The products showcased by Brother India at GTE 2024 were designed to tap into current market trends, particularly the growing demand for custom apparel and monogramming.
Addressing the growing competition from Chinese machines, Pratap points out, Brother India’s machines stand out due to their superior quality, cutting-edge technology, and reliable sales and service support. Besides providing advanced machines, the company also offers adequate after-sales services to help improve the machines’ productivity.
Brother India also conducts comprehensive training programs to ensure entrepreneurs operate the machines efficiently and upgrade their skills regularly. Present in India since 2006, Brother International operates 15 warehouses across the country with a robust distribution network.
Kseniaschnaider wins PETA Germany’s Vegan Award for innovative denim
Written by FWUkrainian denim brand Kseniaschnaider, founded by Ksenia and Anton Schnaider, has been honored with PETA Germany’s 2024 Vegan Award. The brand’s Chewbacca jeans, featuring their signature ‘denim fur,’ won in the category of Best Vegan Pants. This unique material is made from reworked vintage denim and frayed offcuts, offering a sustainable and animal-friendly alternative to traditional fur.
PETA Germany praised Kseniaschnaider for its dedication to sustainability and its refusal to discard even the smallest fabric scraps. Harald Ullmann, co-founder of PETA Germany, applauded the brand’s commitment to ethical fashion, stating that the collection exemplifies how vegan fashion can benefit animals, people, and the planet.
The PETA Vegan Award, now in its 11th year, celebrates brands like Kseniaschnaider that create innovative, animal-free fashion. Other 2024 winners include GmbH, Armedangels, and Amina Muaddi for their eco-conscious designs.
Embarking on a transformative journey, RSWM is expanding the capacity of its knitting unit besides embarking on other gradual capacity expansions. Having ventured the circular knitting fabrics market with an investment of Rs 80 crore, RSWM offers a range of innovative and high-quality knitted fabrics such as Single Jersey, Interlock, Rib, and Fleece at its new venture, LNJ Knits.
RSWM aims to capitalise on the $206 billion global knits market with its 4,800 mmtpa Banswara Plant in Rajasthan. It also aims to acquire an additional capacity of 4,300 mtpa.
The company has improved its denim division significantly and aims to further enhance the capacity of its division. RSWM also plans to foray into the garments segment and modernise equipment across all units. It has earmarked an investment of Rs 410 crore for these expansions.
In FY24, RSWM achieved net sales of Rs 4,057 crore. The company operates 12 manufacturing plants in Rajasthan, equipped with 6.25 lakh spindles, 172 looms, and 95 circular and flat knitting machines, ensuring high-quality textile production and timely global delivery. RSWM's annual production includes 1,21,000 mt of greige yarn, 24,000 mt of melange yarn, 32,000 mt of dyed yarn, 32 million meters of denim fabric, over 9,000 mt of knits fabric, and 43,000 mt of green fiber. The company employs over 10,000 skilled workers across its facilities.
Key decisions at Lenzing AG's 80th Annual General Meeting
Written by FWIn a significant move, the 80th Annual General Meeting of Lenzing AG, held on Thursday, April 18, 2024, saw the discharge of members from both the Managing and Supervisory Boards for the 2023 financial year. Additionally, the remuneration for Supervisory Board members for the 2024 financial year was established pre-emptively. KPMG Austria GmbH Wirtschaftsprufungs- u. Steuerberatungsgesellschaft secured the role of auditor for both the annual and consolidated financial statements for the fiscal year 2024.
Election results were also announced, marking transitions within the Supervisory Board. Markus Furst stepped down from his position at his own behest, having served since 2021. Cornelius Baur was elected as a new member, while Melody Harris-Jensbach’s tenure was extended until the 2028 General Meeting. The Supervisory Board now comprises ten members, with Cord Prinzhorn, MBA, elected as Chairman and Stefan Fida as Deputy Chairman in the subsequent constitutive meeting.
These developments reflect strategic shifts within Lenzing AG’s leadership structure, with an emphasis on continuity and fresh perspectives. The inclusion of new members and the extension of mandates signal a commitment to diverse expertise and sustained governance. Such changes could potentially influence the company's direction and decision-making processes in the coming years.
TAF leads textile innovation and sustainability at Spinexpo 2024
Written by FWThai Acrylic Fibre Co., Ltd (TAF) is poised to make waves at Spinexpo, set to unfold at the World Expo Exhibition & Convention Centre in Shanghai from March 5-7, 2024. With a focus on advancing industry collaborations, TAF's participation underscores its pivotal role in driving sustainability through its innovative Regel technology. Beyond a mere display, TAF's presence at booth V04 serves as a clarion call for sustainable practices within the textile realm.
Regel takes center stage in TAF's repertoire for its sustainability approach. Crafted from recycled acrylic fibre, Regel comes in 50 per cent and 75 per cent recycled content variants. What distinguishes Regel is its ability to match the quality and performance of virgin acrylic fibre while significantly reducing the carbon footprint of textile production. Holding both GRS certification and bluesign Approved designation, Regel exemplifies TAF's unwavering commitment to environmental stewardship and innovative sustainability.
TAF's presence at Spinexpo transcends mere exhibition; it's an avenue to connect with industry luminaries, trailblazers, and potential collaborators. Tuhin Kulshreshtha, TAF's head of marketing, underscores the event's significance, emphasizing, "The Spinexpo platform offers invaluable networking opportunities, fostering partnerships that drive innovation and sustainability." With an eye toward the future, TAF seeks to leverage this premier stage to cultivate meaningful dialogues and partnerships shaping the textile landscape.
In an evolving textile landscape, sustainability takes precedence like never before. TAF's participation in Spinexpo 2024 signals a seismic shift toward eco-conscious production methods and materials. By showcasing Regel and engaging stakeholders worldwide, TAF not only contributes to the sustainability discourse but also sets new benchmarks for environmental responsibility in textiles. This exhibition stands as a pivotal juncture, heralding a collective stride toward a greener, more sustainable future.
TAF's presence at Spinexpo 2024 transcends the exhibition floor, marking a significant stride toward textile sustainability. By fostering collaborations and spotlighting the success of Regel technology, TAF catalyzes a shift toward a greener, more sustainable industry ethos. As we reflect on this momentous event, one thing is clear: the future of textiles hinges on innovation, sustainability, and collaborative efforts. TAF's participation in Spinexpo 2024 serves as a rallying cry, inspiring others to join the movement toward a more sustainable tomorrow.
Brazil’s cotton production hits record high in 2022-23: CEPEA
Written by FWIn the 2022-23 seasons, Brazil witnessed a record-breaking increase in cotton production, propelled by higher cultivation and production, as reported by the Center for Advanced Studies on Applied Economics (CEPEA). During off-season, cotton prices in Brazil experienced a notable decline from January to May, influenced by weakened demand and optimistic expectations for a bountiful crop. Export activities slowed down in early 2023, attributed to prices that sellers found unattractive.
Monthly average prices exhibited stability between May and June, followed by reaching the lowest point of the year in July. Subsequently, fluctuations in monthly averages decreased as a result of rising exports, which helped alleviate the domestic surplus. The report highlighted challenges in 2023, including logistical issues and increased transportation costs due to declining product quality.
The CEPEA/ESALQ Index for cotton recorded a significant drop of 24.4 per cent in 2023. The cotton cultivation area expanded by 4 per cent, reaching 1.664 million hectares in the 2022-23 period, according to CONAB. Productivity experienced a notable increase of 19.5 per cent, reaching 1,907 kg per hectare. Overall production saw a substantial rise of 24.2 per cent, reaching 3.173 million tons.
Globally, supported by heightened supply from China, India, and Brazil, the USDA reported 1.8 per cent increase in global cotton production to 25.395 million tons in 2022-23. Notably, production in the US and Pakistan witnessed a significant decrease during this period, according to the association's findings.
Maharashtra merges textile bodies, eyes Rs 25,000 cr investment boom
Written by FWMaharashtra is making grand plans to transform its textile industry, aiming to attract a staggering Rs 25,000 crore investments through a series of bold mergers and a focus on sustainability.
In a bid to streamline bureaucracy and foster a thriving textile ecosystem, the state will merge three existing corporations – the Maharashtra State Handloom Corporation, Maharashtra State Powerloom Corporation, and Maharashtra State Textile Corporation – into a single entity: the Maharashtra State Textile Development Corporation (MSTDC). Modeled after the successful MIDC, the MSTDC promises a fertile ground for textile businesses to flourish.
The state is also merging the Textile Commissionerate and Silk Directorate into the Textile and Silk Commissionerate, eliminating redundancies and creating a more efficient oversight body. These strategic moves are aimed at not just boosting cotton production capacity and attracting big-ticket investments, but also generating 5 lakh new jobs, weaving a brighter future for the state's textile sector.
With a clear vision and a focus on consolidation and sustainability, Maharashtra's textile industry appears poised to spin a golden thread of growth in the years to come.
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In a successful pre-Series A funding round, B2B managed marketplace, The Yarn Bazaar, has raised INR 15 crore. Led by the Rajiv Dadlani Group and Equanimity Ventures, the funding round attracted prominent investors such as ArihantPatni, EktaKapoor, Ritesh Malik, AakritVaish, SumeetSrivastava, and MitenSampat.
Renowned names from the textile industry, including Anil Mansingka, Dr.Amit Lath, Sharda Group of Companies, NikunjBagdia, and VineetGarg, also joined the round. The Yarn Bazaar plans to utilize the funding to strengthen its senior leadership team, expand operations, and leverage its strong inbound pipeline. As a B2B managed marketplace, The Yarn Bazaar provides real-time yarn prices, market trends, and valuable information, empowering sellers to expand their market reach and increase profits.
Similarly, buyers can reduce procurement costs and raw material expenses. With transaction value exceeding INR 370 crore and an average order value of INR 19 lakhs, The Yarn Bazaar aims to enhance its online presence and deliver an improved user experience, solidifying its position in the market.
The Cotton Growers Association stated that the cotton trade between China and Brazil may soon be conducted in yuan, as reported by the Global Times.
The association predicted that Brazilian cotton exports to China will surpass those of the US in the coming years. According to customs authorities, China imported 382,000 tonnes of cotton in the first four months, with US cotton accounting for 52.22 percent and Brazilian imports at 31.53 percent.
In a separate development, Russian President Vladimir Putin revealed at the St. Petersburg International Economic Forum that over 80 percent of trade settlement between Russia and China is carried out in Rubles and Yuan . The bilateral trade volume between the two countries exceeded $190 billion in 2022.
After a challenging year marked by low demand, excessive inventory, limited supplies, and surging cotton prices, the textile sector is poised for a turnaround. Industry experts predict a revival in demand, particularly in the third quarter of FY24, as global retailers reduce their inventories and place orders for the upcoming Summer/Spring 2024 collections.
Analysts Optimistic About Textile Sector's Rebound in FY24
Favorable market conditions, including geopolitical uncertainties faced by competitor countries, are expected to inject vibrancy into the sector. Consequently, textile players are projected to experience consistent earnings growth and improved cash flows. With completed capital expenditure, the focus will shift toward strengthening balance sheets and enhancing return ratios. Additionally, falling cotton and crude prices are set to bolster margins and enhance India's competitiveness in export markets. The industry has already gained market share in key export markets for garments and home textiles.
The prospects of a UK free trade agreement and the China+1 strategy further enhance the sector's potential for recalibrating earnings and multiples.
India has eliminated China from the list of countries exempt from mandatory testing for the presence of azo dyes in textiles.
The Directorate General of Foreign Trade (DGFT) announced the update, which includes the addition of the UK, Canada, Australia, South Korea, and Japan to the list. This decision aims to address the potential health hazards associated with azo dyes.
However, industry representatives express concerns regarding the impact on importers, as this non-tariff barrier could increase costs and cause delays. It is anticipated that China will attempt to route its textile and product exports through its trade partners, such as Japan and South Korea, as well as countries exempt from testing under the Regional Comprehensive Economic Partnership, like Australia.
In the fiscal year 2023, India imported textiles and related items worth $925 million and apparel worth $240 million from China.
