In the recent past, you have wished and been wished a happy new year. When was the last time someone wished you happy new product? In case you have to stretch your memory about your last new product launch, chances are your products are dated! Let’s take a sock manufacturer as an example. Say, they have been happy with their business as the local market they have been supplying to has been kind to them. Business is steady and profits are healthy. They are unlikely to innovate, presumably somewhat oblivious that they are indeed part of the booming worldwide socks market. As retailers and e-tailers look for fresh new products to woo their customers, this sock manufacturer is likely to take a back seat. On the global scene, the socks market is one of the fastest growing segments of the apparel industry with a compound annual growth rate of 8.5% at present. By 2023, the global socks market is estimated to be worth around the $11.6 billion mark. Specialty socks, athletic s... Read more
Pinakin Chaubal holds Master’s degrees in Management and Textile Engineering. He has been a long time assessor for NATA ISO 17025 laboratory accreditation and has contributed to the review and drafting of several Australian, Joint Australian / New Zealand and International Standards on textiles, clothing and footwear. Global brands like H&M, Zara and most others are getting settled in India at an unprecedented rate. In fact, it’s more a case of who hasn’t entered the zoo, rather than who has. Global selling platforms like amazon.com have been successfully wooing Indian suppliers. Historically price sensitive apparel products like inner ware are moving to brand sensitive categories in the minds of local consumers. Now where does all this leave your product? At the centre stage! In this competitive market, if your product does not take the centre-stage, it will lag, struggle for a while and may eventually suffer from severe competitive arrest. Brand ma... Read more
Global fast-fashion behemoth Shein released its extensive 2024 Sustainability and Social Impact Report in June, a document exceeding 100 pages.... Read more
The aisles of the Global Sourcing Expo Australia, which concluded its three-day run from June 17-19 in Sydney, buzzed with... Read more
The recent cyberattack that brought down Marks & Spencer's (M&S) online operations for nearly seven weeks has highlighted a critical,... Read more
For decades, nylon has been synonymous with exceptional strength, durability, and resilience. From mountaineering gear to industrial applications, its tough... Read more
For decades, polyester has been the workhorse of the textile industry, valued for its durability, wrinkle resistance, and affordability. However,... Read more
The Global Sourcing Expo, a pivotal event connecting global suppliers with Australian trade buyers, continues to solidify its position as... Read more
With the successful completion of third edition of Global Sourcing Expo Sydney, Julie Holt, Global Business & Exhibition Director, Global... Read more
The global apparel industry, often a reliable barometer of consumer confidence and trade health, is passing through a delicate recalibration.... Read more
In the global textile manufacturing market, where countries like Bangladesh and Vietnam leverage preferential trade agreements (FTAs) to dominate export... Read more
The conversations at the recent ‘Innovation Forum’ have blossomed into a clear call to action: the fashion industry is under... Read more